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Enterprise Hall 4400 University Drive, MS 1B1
Fairfax, Virginia 22030
Phone: (703) 993-1880
Fax: (703) 993-1867
Intermediate Accounting I – ACCT 331
(This Syllabus is tentative and subject to change.)
Instructor:
GMU Email:
Course Website:
Class Meeting Times & Location:
Recitation Meeting Times:
Office Hours:
Office Location:
Course Description
Accounting is called the language of business. As such, the objective of the course is to learn to read, understand, and analyze financial statements. This course adopts a decision-maker perspective of accounting by emphasizing the relation between accounting data and the underlying economic events that generated them. The course focuses on how to record economic events in the accounting records (i.e., accrual accounting) and how to prepare and interpret the primary financial statements that summarize a firm's economic transactions (i.e., the balance sheet and the income statement).
Format
This course will be delivered in a face-to-face format. Lectures will consist of weekly, in-person lectures. There is no online lecture component to this course. Examinations are scheduled to be conducted and submitted in-person. There will be deadlines for homework, and exams/quizzes must be taken during the appointed time. Please pay close attention to these dates and deadlines.
Course Materials
Web Sites
- Canvas (https://info.canvas.gmu.edu/) – course information and support materials will be available through Canvas. Canvas includes important announcements, syllabus, study resources, grades and other relevant information. Class materials will be directly available on Canvas. You are expected to come to class with these materials as they will not be handed out in class. You should visit Canvas daily for the latest information.
- Connect Accounting: please follow the Connect Registration Link posted on Canvas below this syllabus.
Textbook
- Intermediate Accounting, 11th Edition, Spiceland, Nelson & Thomas (McGraw-Hill Irwin).
- Connect subscription, including the ebook version of Intermediate Accounting, 11th Edition by McGraw-Hill. Connect subscription may be purchased on the Connect website or at the GMU bookstore. A loose-leaf textbook in paper form is also available but not required.
- Please note that eBook and Connect access are part of a bundle subscription purchase through McGraw-Hill. Your Connect access will continue when you progress to ACCT 332 – Intermediate Accounting II. You only need to pay for it once to use in both courses.
Other Required Material
- Student handouts on Blackboard – lecture notes are the primary learning element in our course. A visual learning method is used because it is a proven effective and efficient way for students to learn complex financial accounting topics. All students should read through lecture notes and familiarize themselves with the unique terminology and topic structure for each chapter. Then, you will attend class and work through the handout topics and exercises with your professor.
- Simple four-function calculator (scientific or other programmable calculators will not be allowed during exams).
- A computer for in-class, computer-based quizzes and exams.
- Computer and Internet Requirements - see School of Business Computer Policy for complete computer policy at https://business.gmu.edu/undergraduate-laptop-requirements
Recommended
- Supplemental material posted in Connect
Course Objectives
- Students will study the underlying economics of identified business events and transactions and record them in accordance with generally accepted accounting principles.
- Students will create various financial statements, including the balance sheet and income statement.
- Students will show writing effectiveness.
- Students will have increased awareness of IFRS.
- Students will learn to compare alternative accounting treatments and explain accounting choices in a given business environment.
Learning Goals
Primary learning goals
- Students will record, analyze, interpret, and communicate financial and non-financial information for users of such information in accordance with applicable professional authoritative literature.
- Students will understand the environment and role of the accounting profession in the proper functioning of commerce, and in society at large, and the ethical and regulatory responsibilities associated with that environment and role.
- Students possess the following technical competencies: (1) research skills to access, understand, and apply relevant professional authoritative literature; (2) decision modeling skills to identify issues, analyze alternatives, and implement solutions related to financial and non-financial information; and (3) technology and data analysis skills to manage financial and non-financial information. - Students will be effective communicators.
- Students will have an interdisciplinary perspective.
- Students will be knowledgeable about global business and trade.
- Students will be critical thinkers.
Other learning goals
- Students will assess risks inherent in financial and non-financial information and provide appropriate assurance to users of such information and they will be able to develop, validate, and evaluate processes and controls which serve to ensure the integrity of financial and non-financial information.
- Students will be aware of the uses of technology in business.
- Students will recognize the importance of ethical decisions.
- Students will be knowledgeable about the legal environment of business.
- Students will be knowledgeable about team dynamics and the characteristics of effective teams.
- Students will understand the value of diversity and the importance of managing diversity in the context of business.
Grading
- The grade you receive depends solely on your ability to demonstrate your mastery of the course materials.
- Grades will be assigned based on the absolute number of points you earn during the semester. There will be no extra credit assignments or other opportunities to pull up your grade. There is no curving of individual exams.
- Final grades will be available on Blackboard and PatriotWeb.
| Assignment | Points | Percentage |
| Homework Assignments | 70 | 14% |
| Excel-based Assignments | 39 | 7.8% |
| Research Assignment | 46 | 9.2% |
| In-class quizzes | 120 | 24% |
| Exam 1 | 75 | 15% |
| Exam 2 | 75 | 15% |
| Exam 3 | 75 | 15% |
| TOTAL | 500 | 100% |
- Letter grades will be assigned based on total points earned by students completing all course requirements as follows:
| Points Scored | Letter Grade |
| 465 and above | A |
| Between 445 and 464 | A- |
| Between 425 and 444 | B+ |
| Between 405 and 424 | B |
| Between 385 and 404 | B- |
| Between 365 and 384 | C+ |
| Between 350 and 364 | C |
| Between 300 and 349 | D |
| 299 and below | F |
Homework
Homework Assignments (graded)
- These assignments are to be done on Connect and will be automatically graded.
- All homework assignments must be completed on or before the respective due dates indicated on the Connect web page.
- Assignments can be submitted up to two days after the deadline. A student needs to send an email requesting a homework extension. However, there will be a 25 percent deduction from the grade for each day it is late. Assignments submitted more than two days late will receive a score of 0. Any additional exceptions or extensions on assignments are subject to instructor approval pending student submission of the appropriate documentation.
- Each assignment may be submitted 3 times and the higher score will be entered in the grade book. At the end of the semester, one homework with the lowest score will be dropped from the total homework assignments grade.
- It is extremely important to keep up to date, and to be prepared for class. These assignments provide you with concrete applications of the fundamental concepts and principles.
Practice Tests and Supplemental Problems in Connect (not graded)
- These are supplemental assignments and are not used in the calculation of your final grade (also, on Connect Accounting, but your grade will not be entered in the grade book).
Excel-based Analytics Assignments
- These assignments are to be done on Connect Accounting.
- All assignments must be completed on or before the respective due dates indicated on the Connect Accounting web page. -
- Late assignments may be submitted, but a 25 percent grade reduction is continually applied for each day late (until 0 points remain possible at which time the student will receive a score of 0 on that assignment). Any additional exceptions or extensions on assignments are subject to instructor approval pending student submission of the appropriate documentation.
Research Assignment
- In this assignment, you will be required to research an accounting case/topic using both your accounting knowledge and AI skills.
- Additional information related to the assignment will be distributed during the semester.
In-class Quizzes
- In-class, computer-based quizzes consist of multiple-choice problems. Quiz dates are provided as a part of the Course Schedule at the end of this document. As with exams, you are expected to be present for all quizzes. If an emergency arises that will prevent you from taking a scheduled quiz, contact your professor as soon as possible and be prepared to provide acceptable, official documentation supporting your case. An unapproved absence will result in a grade of zero on the quiz. At the end of the semester, one quiz with the lowest score will be dropped from the total Quizzes grade.
Academic Integrity
Academic Standards exist to promote authentic scholarship, support the institution’s goal of maintaining high standards of academic excellence, and encourage continued ethical behavior of faculty and students to cultivate an educational community which values integrity and produces graduates who carry this commitment forward into professional practice.
As members of the George Mason University community, we are committed to fostering an environment of trust, respect, and scholarly excellence. Our academic standards are the foundation of this commitment, guiding our behavior and interactions within this academic community. The practices for implementing these standards adapt to modern practices, disciplinary contexts, and technological advancements. Our standards are embodied in our courses, policies, and scholarship, and are upheld in the following principles:
- Honesty: Providing accurate information in all academic endeavors, including communications, assignments, and examinations.
- Acknowledgement: Giving proper credit for all contributions to one’s work. This involves the use of accurate citations and references for any ideas, words, or materials created by others in the style appropriate to the discipline. It also includes acknowledging shared authorship in group projects, coauthored pieces, and project reports.
- Uniqueness of Work: Ensuring that all submitted work is the result of one’s own effort and is original, including free from self-plagiarism. This principle extends to written assignments, code, presentations, exams, and all other forms of academic work.
Violations of these standards—including but not limited to plagiarism, fabrication, and cheating—are taken seriously and will be addressed in accordance with university policies. The process for reporting, investigating, and adjudicating violations is outlined in the university's procedures. Consequences of violations may include academic sanctions, disciplinary actions, and other measures necessary to uphold the integrity of our academic community.
The principles outlined in these academic standards reflect our collective commitment to upholding the highest standards of honesty, acknowledgement, and uniqueness of work. By adhering to these principles, we ensure the continued excellence and integrity of George Mason University's academic community.
Student responsibility: Students are responsible for understanding how these general expectations regarding academic standards apply to each course, assignment, or exam they participate in; students should ask their 6 instructor for clarification on any aspect that is not clear to them. Two academic integrity documents are in the same folder as this Syllabus and should be studied to familiarize with the definitions and consequences of honor code violations.
Student Accommodations
Disability Services at George Mason University is committed to upholding the letter and spirit of the laws that ensure equal treatment of people with disabilities. Under the administration of University Life, Disability Services implements and coordinates reasonable accommodations and disability-related services that afford equal access to university programs and activities. Students can begin the registration process with Disability Services at any time during their enrollment at George Mason University. If you are seeking accommodations, please visit https://ds.gmu.edu/ for detailed information about the Disability Services registration process. Disability Services is located in Student Union Building I (SUB I), Suite 2500. Email: ods@gmu.edu. Phone: (703) 993-2474.
Student responsibility: Students are responsible for registering with Disability Services and communicating about their approved accommodations with their instructor in advance of any relevant class meeting, assignment, or exam.
FERPA and Use of GMU Email Addresses for Course Communication
The Family Educational Rights and Privacy Act (FERPA) governs the disclosure of education records for eligible students and is an essential aspect of any course. Students must use their GMU email account to receive important University information, including communications related to this class. Instructors will not respond to messages sent from or send messages regarding course content to a non-GMU email address.
Student responsibility: Students are responsible for checking their GMU email regularly for course-related information, and/or ensuring that GMU email messages are forwarded to an account they do check. Your George Mason email account is also required for any online platform, including Connect.
Diversity
George Mason University promotes a living and learning environment for outstanding growth and productivity among its students, faculty and staff. Through its curriculum, programs, policies, procedures, services and resources, Mason strives to maintain a quality environment for work, study and personal growth. These goals apply to online learning at George Mason University equally as it does to classroom learning.
An emphasis upon diversity and inclusion throughout the campus community is essential to achieve these goals. Diversity is broadly defined to include such characteristics as, but not limited to, race, ethnicity, gender, religion, age, disability, and sexual orientation. Diversity also entails different viewpoints, philosophies, and perspectives. Attention to these aspects of diversity will help promote a culture of inclusion and belonging, and an environment where diverse opinions, backgrounds and practices have the opportunity to be voiced, heard and respected.
Title IX Resources and Required Reporting
As a part of George Mason University’s commitment to providing a safe and non-discriminatory learning, living, and working environment for all members of the University community, the University does not 7 discriminate on the basis of sex or gender in any of its education or employment programs and activities. Accordingly, all non-confidential employees, including your faculty member, have a legal requirement to report to the Title IX Coordinator, all relevant details obtained directly or indirectly about any incident of Prohibited Conduct (such as sexual harassment, sexual assault, gender-based stalking, dating/domestic violence). Upon notifying the Title IX Coordinator of possible Prohibited Conduct, the Title IX Coordinator will assess the report and determine if outreach is required. If outreach is required, the individual the report is about (the “Complainant”) will receive a communication, likely in the form of an email, offering that person the option to meet with a representative of the Title IX office.
For more information about non-confidential employees, resources, and Prohibited Conduct, please see University Policy 1202: Sexual and Gender-Based Misconduct and Other Forms of Interpersonal Violence. Questions regarding Title IX can be directed to the Title IX Coordinator via email to TitleIX@gmu.edu, by phone at 703-993-8730, or in person on the Fairfax campus in Aquia 373.
Student opportunity: If you prefer to speak to someone confidentially, please contact one of Mason’s confidential employees in Student Support and Advocacy (SSAC), Counseling and Psychological Services (CAPS), Student Health Services (SHS), and/or the Office of the University Ombudsperson.
Copyright
Any audio or visual recording of lectures, reuse or remix of course materials, or further dissemination of course content is not permitted without prior written consent from me and George Mason University unless the recording is part of an approved accommodation plan. Every instructor owns the copyright to the course material they create. A student who shares class materials outside the normal course of study is in violation of the University Honor Code. If you are not the author, you must obtain express permission from the copyright holder before sharing the material. We regularly monitor the internet to identify whether course materials have been compromised. If you post this class material on a website, you are violating both the copyright and the University Honor Code. Any violation is reported to the University Office of Academic Integrity for investigation and possible sanctions.
You are required to seek prior approval if you intend to record class lectures. Any such recording will be permitted for personal use only and must not be distributed or uploaded to any website.
Attendance and Cell Phones
To maximize your learning experience, daily attendance is essential and constructive participation is an important part of the classroom experience. Please attempt to be on time and remain for the entire period. Arriving late and/or leaving early is inconsiderate to your fellow students. In addition, please do not use cell phones during class.
As this course requires an in-person component, the instructor reserves the right to take attendance in this course.
Communication and Email Policy
Students are required by university policy to use their MasonLive email account to send and receive important University information, including communications related to this class. I cannot respond to messages sent from or send messages to a non-Mason email address. When creating emails, use professional email etiquette; include your name, course, and subject line. Use a professional tone, proper spelling, and acceptable business email format. I will generally be able to respond to your emails within 24 to 36 hours. This response time may increase over the weekend, holidays, and times of high email volume (before/after exams, etc.) Do not send messages through the Blackboard system, as GMU spam filters often block them.
Disclaimer
Any changes to assignments or course schedule will be announced in class, on Blackboard and/or via e-mail. Inability to access the course webpage or failure to read e-mails cannot be an excuse for late submissions or noncompletion of assignments
| Example of the Course Schedule | ||
|---|---|---|
| Date | Chapter | Topics |
| Aug 26 | 01 | Financial Accounting and Accounting Standards; Conceptual Framework |
| Aug 28 | 02 | Accounting Information System |
| Sep 04 | 02 | Accounting Information System |
| Sep 09 | 02 | Accounting Information System |
| Sep 11 | 03 | Balance Sheet; Quiz 1 (Chapters 1+2) |
| Sep 16 | 04 | Income Statement |
| Sep 18 | 06 | Revenue Recognition |
| Sep 23 | 06 | Revenue Recognition; Quiz 2 (Chapters 3+4) |
| Sep 25 | 06 | Revenue Recognition |
| Sep 30 | 06 | Revenue Recognition; Quiz 3 (Chapter 6) |
| Oct 02 | Exam 1 (Chapters 2,4,6) | |
| Oct 07 | 07 | Cash and Receivables |
| Oct 09 | 07 | Cash and Receivables |
| Oct 16 | 07 | Cash and Receivables |
| Oct 21 | 08 | Valuation of Inventories; Quiz 4 (Chapter 7) |
| Oct 23 | 08 | Valuation of Inventories |
| Oct 28 | 08, 09 | Valuation of Inventories; Additional Inventory Issues |
| Oct 30 | 09 | Additional Inventory Issues |
| Nov 04 | 09 | Additional Inventory Issues; Quiz 5 (Chapter 8+9) |
| Nov 06 | Exam 2 (Chapters 7,8,9) | |
| Nov 11 | 10 | Operational Assets |
| Nov 13 | 10 | Operational Assets |
| Nov 18 | 11 | Depreciation, Depletion and Impairment |
| Nov 20 | 11 | Depreciation, Depletion and Impairment |
| Nov 25 | 12 | Investments; Quiz 6 (Chapters 10+11) |
| Dec 02 | 12 | Investments |
| Dec 04 | Quiz 7 (Chapter 12) | |
| Dec 09 | Final Exam review | |
| Dec 11 | Exam 3 (Chapters 10,11,12) | |
* The professor reserves the right to make any necessary changes to the syllabus with appropriate announcements in class and on Blackboard
** - refer to the Exam section of this syllabus for a detailed explanation of exam policies. Additional exam information will be posted on BB one week before each exam.