Acc ACCOUNTING 232 FINANCIAL

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Fall 2014

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ACCOUNTING 232 –FINANCIAL ACCOUNTING I

Fall 2014

Instructor: Veena Srinivasan

Office: BA 267M

Office Phone: (480) 965-7347

Email: Veena.Srinivasan@asu.edu

E mail is the best way to reach me. I check phone messages intermittently.

Office Hours: Monday: 11:00 am – 1:30 pm and by appointment

Required Textbook / Course Materials

Financial Accounting, THIRD Edition by Spiceland, Hermann and Thomas, McGraw Hill Publising.

(Note: If you took ACC232 at ASU in Spring 2014 please contact me as soon as possible to discuss online textbook

access)

PowerPoints (PPTs) and other course materials will be posted on blackboard (go to http://myasucourses.asu.edu). If you

need blackboard assistance, please call the UTO Help Desk at (480) 965-6500 or email HelpDesk@asu.edu with your

questions.

Overview and Course Objectives

The course focus is on decision-making and the role of accounting in the decision-making process. The topics

are applicable not only to business, but to any situation that utilizes financial information, including investing.

Students will learn how financial statements are prepared and used, and how to become informed readers/users of

financial information. Students are asked to demonstrate an understanding of financial accounting principles and the basic

concepts underlying GAAP (Generally Accepted Accounting Principles). Upon completion of ACC231, students should:

• Understand the purpose of accounting; how to prepare, interpret and analyze financial statements; and the uses

and limitations of accounting information.

• Possess enhanced analytical, critical thinking and communication skills necessary for success in business or any

other endeavor.

• Understand the accounting cycle from transaction entry to preparing trial balances to the preparation of financial

statements.

• Understand and apply accounting assumptions and principles

• Understand basic aspects of business that relate to accounting (types of entities, internal controls, Sarbanes–

Oxley, role of auditors, regulatory bodies, etc.)

• Understand ethical dilemmas inherent in accounting.

How to be SUCCESSFUL in ACC232

Accounting is like a contact sport. The more practice you put in, the greater your chances for a good grade. Regular

attendance is critical to your success. Memorization of the material is not very helpful in this course. Exams will consist

of problems and exercises that you may not have seen before. Good in depth understanding of the material and repeated

practice will most certainly help you get the grade you seek. Students who do well in the course attend class regularly,

come to every class prepared, and complete all assignments when DUE. In addition, asking questions in class and/or

attending office hours to clarify questions regarding assignments/concepts has proven to be beneficial.

Office Hours, E-mail AND Assumed Skills

It is assumed that you have an ASU email account that you check DAILY. Every ASU student has an ASU account. If you

do not regularly check your ASU account, it is YOUR responsibility to forward your ASU account to the email account that

you do use. Instructions for setting up your account, forwarding messages, and answers to any questions you might have

regarding your myASU account may be found at http://help.asu.edu/node/120. I check my email frequently (except on

Tuesdays/Thursdays when I am in class for the majority of the time), and generally respond to all emails within 24 hours.

(If you do not receive an email response from me within that time frame, please email me again in case your original email

did not go through).

You are expected to access our blackboard site so that you can download important course information/materials, as well

as check course announcements. In most instances, communication regarding information that impacts all students

enrolled in the course will be posted on blackboard under the Announcements button. I will also post grades on this site.

Grading

Exams

Exam 1

100

Exam 2

100

Exam 3

100

Exam 4 (Final Exam – Comprehensive)

100

Other assignments:

Assigned Homework

Quizzes

100

TOTAL POINTS AVAILABLE

600

Grades are based on the percentage of available points you EARN. The course will use standard grade distribution

ranges (i.e., 90-100%=A range, 80-89%=B range, 70-79%=C range, 60-69%=D range, below 60%=E). Pluses and

minuses may be used in the course for Cs and above (actual cut-offs will be determined at the end of the semester).

Please note: based on the actual grade distributions, the floor for each range could be lowered slightly. However,

regardless of the actual grade distributions, the floor for each range will never be raised higher than those stated above

(e.g. 80% is always a “B” grade but, depending upon the actual distributions, percentages slightly lower than 80% may

also receive a “B” grade).

Grade Caveat: Your final grade cannot be more than one letter grade higher than your average exam grade. For

example, to earn any type of “A” letter grade (i.e., A-, A, or A+), you will need to have an exam average that is within the

“B” letter grade grouping.

Please keep your copy of all graded assignments. In case of a problem or error, it will be your responsibility to produce