Course Overview

Introduction to Financial Accounting

This course, ACG 2021: Accounting for Decisions, is a comprehensive introduction to financial accounting for college students. It covers the foundational concepts, principles, and techniques used to record business transactions and prepare financial statements. The course is designed for students with no prior accounting experience and aims to equip them with the skills to read and understand U.S. financial statements.

• Textbook: Tietz/Thomas: Financial Accounting 14th Edition (Pearson, 2025)

• Chapters Covered: 1 through 11, Appendix E and F

• Course Goals:

  • Describe the general purpose of financial statements according to GAAP

  • Explain accrual vs. cash basis accounting

  • Prepare financial statements using transaction data

  • Identify and explain professional ethics in accounting

  • Apply introductory financial statement analysis

  • Utilize technology in accounting

Course Structure & Assessment

Assignments and Exams

The course includes a variety of assessments to ensure mastery of financial accounting concepts. Students are expected to engage actively and dedicate significant study time each week.

• Midterm Exams: Two midterms covering specific chapters

• Final Exam: Comprehensive assessment

• Homework: Regular assignments based on textbook chapters

• Quizzes: Frequent quizzes to reinforce learning

• Project: Application of accounting concepts

• Extra Credit: Opportunities for additional points

Schedule of Topics

Monthly Course Calendar

The course schedule is organized by week, with lectures, quizzes, homework, and exams mapped to specific dates. This structure helps students pace their learning and prepare for assessments.

• May 2026:

  • Lectures: Chapters 1, 2, 3, 4, 8, 9, and Appendix E

  • Quizzes: Chapters 1, 2, 3, 4, 5

  • Homework: Chapters 1, 2, 3, 4, 5

  • Exam 1: Chapters 1, 2, 3, 4

  • Spring Break: No class

• June 2026:

  • Lectures: Appendix E, Chapter 10, Chapter 11

  • Quizzes: Chapters 6, 7, 8, 9, 10, 11, Appendix E, F

  • Homework: Chapters 6, 7, 8, 9, 10, 11, Appendix E, F

  • Exam 2: Chapters 7, 8, 9, 10, Appendix E, F

  • Extra Credit: Due mid-June

Key Financial Accounting Topics

Core Chapters and Learning Outcomes

The syllabus aligns with the following major topics, which are essential for financial accounting students:

• Ch. 1 The Financial Statements: Understanding the purpose and structure of financial statements.

• Ch. 2 Transaction Analysis: Recording and analyzing business transactions.

• Ch. 3 Accrual Accounting and Income: Differentiating between accrual and cash basis accounting.

• Ch. 4 Internal Control and Cash: Managing cash and implementing internal controls.

• Ch. 5 Receivables and Revenue: Accounting for receivables and recognizing revenue.

• Ch. 6 Inventory and Cost of Goods Sold: Inventory valuation and calculation of cost of goods sold.

• Ch. 7 Plant Assets, Natural Resources, and Intangibles: Accounting for long-term assets.

• Ch. 8 Current and Contingent Liabilities: Identifying and recording liabilities.

• Ch. 9 Long-Term Liabilities: Accounting for bonds and other long-term obligations.

• Ch. 10 Stockholders' Equity: Understanding equity transactions and reporting.

• Ch. 11 The Statement of Cash Flows: Preparing and analyzing cash flow statements.

• Appendix E Investments: Introduction to accounting for investments.

• Appendix F Time Value of Money: Applying time value of money concepts in accounting.

Course Policies & Resources

Academic Integrity and Support

Students are expected to adhere to university policies regarding academic integrity, accessibility, and nondiscrimination. The course provides resources for professional writing, technical communication, and counseling services.

• Communication: Canvas Conversations/Inbox for course-related messages

• Accessibility: Accommodations available for students with disabilities

• Academic Integrity: Strict adherence to university standards

• Support Services: Writing resources, counseling, and technical support

Quality Matters Certification

Course Quality Assurance

This course has received the Quality Matters certification, indicating it meets rigorous standards for higher education course design and delivery.

Grading Scale

Letter Grades and Percentage Ranges

The grading scale is as follows:

Study Recommendations

Effective Learning Strategies

Due to the breadth of topics, students should plan to study at least 10 hours per week. Active participation, timely completion of assignments, and regular review of course materials are essential for success.

• Review lecture notes and textbook chapters regularly

• Complete all homework and quizzes on time

• Engage in class discussions and group activities

• Utilize available resources for academic support