ACG3024 - Accounting for Non-Financial Majors

3 hours Lecture, 3 credit(s)

Upper-Division College Credit

Prerequisite(s): Admission to the BAS Program or permission of the Program Director

AA Elective: No

Academic Dean’s Contact Information

LAKELAND DEAN’S OFFICE: LLC 2255 PHONE: (863) 297-1024
WINTER HAVEN DEAN’S OFFICE: WSC 101 PHONE: (863) 297-1020

Course Description:
This course addresses the use of accounting information by non-financial managers. Emphasis is placed on the interpretation of accounting information and the terms used in financial accounting to effectively participate in activities such as planning, investment, internal control, and managerial decision making.

Polk State College Mission and Program Outcomes

Polk State College, a quality-driven institution serving Polk County and beyond, transforms students’ lives through the power of teaching and lifelong learning by providing access to affordable associate and baccalaureate degrees, career certificates, and workforce employment programs, delivered through various modalities and innovative technologies and by diverse, qualified faculty and staff. In line with this purpose, Polk State’s Associate in Science and baccalaureate degree programs develop competence in career areas. This course focuses on the development of competencies related to the following program outcomes:

1. Conduct an analysis of appropriate financial and economic data necessary to support organizational decision making.

Course Objectives:
Upon the successful completion of this course, students will be able to:

Explain the basic concepts of financial and managerial accounting.
Discuss ethical practices in accounting and explain their significance in establishing a viable financial management strategy.
Prepare, analyze, and interpret financial statements for various organizations.
Calculate financial ratios as tools for the analysis of financial performance.
Prepare and explain an operating budget and a capital expense budget.
Use the tools of accounting to solve problems and make managerial decisions.
Discuss the interrelationship between planning, directing, budgeting, and financial controls.

Course Content:

1. Accounting - Present and Past
            A. Accounting Defined– Includes Ethics and the Accounting Profession
            B. Development of Accounting

Part I Financial Accounting
2. Financial Statements and Accounting Concepts/Principles
            A. Financial Statements
            B. Accounting Concepts and Principles
3. Fundamental Interpretations Made from Financial Statement Data
            A. Financial Ratios and Trend Analysis
            B. Return on Investment
            C. Return on Equity
            D. Working Capital and Measures of Liquidity
4. The Bookkeeping Process and Transaction Analysis
            A. The Bookkeeping/Accounting Process
            B. Balance Sheet Equation
            C. Transactions
            D. Adjustments
5. Accounting for and the Presentation of Current Assets
            A. Cash and Cash Equivalents
            B. Short Term Marketable Securities
            C. Accounts Receivable
            D. Notes Receivable
            E.   Inventories
            F. Prepaid Expenses and Other Current Assets
            G. Deferred Tax Assets
6.    Accounting for and Presentation of Property, Plant and Equipment, and other Non     Current Assets.
            A. Land
            B. Buildings and Equipment
            C. Assets Acquired by Capital Lease
            D. Intangible Assets
            E. Natural Resources
            F. Other Noncurrent Assets
7. Accounting for and Presentation of Liabilities
            A. Current Liabilities
            B. Non-current Liabilities
8. Accounting for and Presentation of Owner’s Equity
            A. Paid In Capital
            B. Retained Earnings
            C. Accumulated other Comprehensive Income (Loss)
            D. Treasury Stock
            E. Reporting Changes in Owners’ Equity Accounts
            F. Owners Equity for other Types of Entities
9. The Income Statement and the Statement of Cash Flows
            A. Income Statement
            B. Statement of Cash flows
10. Corporate Governance and Financial Disclosure
            A. Corporate Governance
            B. General Organization of Explanatory Notes
            C. Explanatory Notes (or Financial Review)
            D. Management’s Discussion and Analysis
            E. Five year (or longer) summary of Financial Data
            F. Independent Auditors Report
            G. Financial Statement Compilations
            H. Ethics and the Accounting Profession
11. Financial Statement Analysis
            A. Financial Statement Analysis Ratios
            B. Other Analytical Techniques

Part II Managerial Accounting
12. Managerial Accounting and Cost Volume Profit Analysis
            A. Managerial Accounting Contrasted to Financial Accounting
            B. Cost Classifications
            C. Applications of Cost Volume Profit Analysis
13. Cost Accounting and Reporting Systems
            A. Cost Management
            B. Cost Accounting Systems
14. Cost Analysis for Planning
            A. Cost Classifications
            B. Budgeting
            C. Standard Costs
15. Cost Analysis for Control
            A. Cost Classifications
            B. Performance Reporting
            C. Standard Cost Variance
            D. Analysis of organizational Units
16. Cost Analysis for Decision Making
            A. Cost Classifications
            B. Short Run Decision Analysis
            C. Long Run Investment Analysis

Textbook and Other Requirements

Textbook information is provided in the course syllabus, at the campus bookstore, on the campus bookstore website (www.polk.bncollege.com), or via the “Shop Textbooks” button on the PASSPORT schedule of classes.

College-Level Communication and Computation Skills

State Rule 6A-10.030 does not apply to this course.

Student Help

The professor is available for help during posted hours and by appointment during other non-class hours. Each student is encouraged to seek assistance from the professor. To further the educational process, the Learning Resources Centers, comprised of the campus Teaching/Learning and Computing Centers (TLCCs), JDA Student Success Center, and campus libraries, are available for student use. Each resource provides qualified staff and up-to-date equipment and facilities to promote academic success. The TLCCs and JDA Student Success Center provide tutoring services, computing resources, and other instructional support. The library provides information resources, individual and group study space, research assistance, information literacy instruction, and computing resources. Each facility provides free wireless access to the Internet. The Polk State College Library, Student Success Center, and TLCC hours of operation and tutoring schedules are posted at each facility and on the College website.

Withdrawing From a Course

A student may officially withdraw from a course during any given term, provided he or she follows the appropriate policy and procedure. Following the conclusion of the Drop period, students may officially withdraw without receiving a grade from any course, provided they do so no later than the published withdrawal deadline. The published deadline reflects approximately (but no more than) 70% of the term, based upon the course’s scheduled duration. It is the student’s responsibility to submit these withdrawal forms; failure to do so may result in a grade of F in the course. Under the Forgiveness Policy, a student is allowed only three attempts in any one course: one initial enrollment and two repeats. A student is not allowed to withdraw from a third course attempt. Limited admission programs may have specific guidelines regarding course withdrawal that vary from this policy; these guidelines are listed in the specific program handbooks. If a student stops attending class, the grade earned, usually an F, is assigned and posted. Prior to withdrawing from a course, the student should consult with the Financial Aid Office to determine what impact, if any, withdrawal from the course will have on his or her financial aid status. A student cannot use course withdrawal to avoid academic dishonesty penalties. A student who has been penalized for academic dishonesty in a course is not eligible to withdraw from the course.

Repeating a Course

Under the Forgiveness Policy, a student is allowed only three attempts in any one college credit course: one initial enrollment and two repeats. Under certain circumstances, a student may petition to repeat a credit course beyond the third attempt. Limited admission programs may have specific guidelines regarding repeating courses that vary from this policy; these guidelines are listed in the specific handbooks. The student should be aware that repeating a course may result in a higher course cost. A course cannot be repeated unless the previously earned grade is a D, F, or W (the Polk State Catalog provides further details regarding this process). Prior to repeating a course, the student should consult with the Financial Aid Office to determine what impact, if any, repeating the course will have on his or her financial aid status.

Academic Dishonesty

Each student is responsible for his or her work. It is assumed that each student is honest and will abide by this standard; however, in the event that there is an indication or suspicion of cheating or plagiarism, the situation shall be dealt with in accordance with the published College policy. Copies of this policy are available in the Student Services Office. More specific information can be found in the Course Syllabus.

Information Technology Access/Use Policy

The information technology resources provided by Polk State College (this includes, but is not limited to, telephones, computers, the Polk State Local Area and Wide Area Networks, and the Internet) must be used for academic purposes only. Use of these resources is a privilege, not a right. Inappropriate use can result in revocation or suspension of this privilege.

Equal Access/Opportunity

Polk State College is an equal access/equal opportunity institution committed to excellence through diversity in education and employment. The College complies with all state and federal laws granting rights to students, employees, and applicants for employment or admission to the College. Polk State College does not discriminate on the basis of race, color, national origin, ethnicity, sex, age, religion, sexual orientation, marital status, veteran status, genetic information, disability, or pregnancy in its programs, activities, or employment.

The following person has been designated to handle inquiries regarding the non-discrimination policies:
Valparisa Baker
Director, Equity and Diversity (Title IX Coordinator)
999 Avenue H NE
Winter Haven, FL 33881
Office: WAD 227
Telephone: (863) 292-3602
e-mail: vbaker@polk.edu

Equal Opportunity For Students With Disabilities

The College complies with The Americans with Disabilities Act and provides equal educational opportunity for qualified individuals. A student with a disability who requires special accommodations or auxiliary aids under The Americans with Disabilities Act (ADA) should contact the Coordinator or Director of Disability Services. Note: Limited admission programs may have performance restrictions that apply. Restrictions (where applicable) are outlined in each program’s student handbook.

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