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Elements of Accounting  (V246) Spring 2022
Section 7479- Professor Shawn Novak
SPEA 169 Monday/Wednesday 9:45 to 11:00

 Course Details

Instructor:    Shawn Novak PhD, CPA, ShaNovak@IU.edu

                      Office Phone: 812-856-3462

                      Office location: 375G (SPEA building)

                      ZOOM:  https://iu.zoom.us/my/shawn.novak (Links to an external site.)

Office Hours:  You can generally expect me to be available with little or no advance appointment within the available times posted through the "How to Reach Me" link on the course's "Home" page.  Check these times before you come to see me as these times may change from week to week as the semester progresses.

Teaching Assistant:  

Email: 

Office Hours: 

Class Meeting:  This course is delivered in person on Monday and Wednesday mornings from 9:45 to 11:00 in SPEA room # 169.  Substantial online course content, including all homework assignments, will be provided through both the Canvas and Tophat course platforms.

Course Prerequisite: SPEA-V186 (introductory accounting). If you somehow enrolled in this course without passing one of these two courses (or their equivalent), please contact me right away.

Microsoft Excel:  You will need, and are expected to already have, basic competency with Microsoft Excel.  Many examples used in class are presented in Excel. 

A high level of competency with Microsoft Excel is essential in disciplines like accounting and finance where information is collected, organized and analyzed. University Information Technology Services (UITS) offers classes in Microsoft Excel at no charge. The schedule for the current semester can be accessed at the following URL: https://ittraining.iu.edu/ (Links to an external site.).  UITS offers an online five-course series, “Microsoft Excel Essentials Series,” that will enable you to earn a certificate in Excel (a great addition to your resume).  In this series, you will be introduced to the most commonly used features in Microsoft Excel and build on that foundation as you extend your charting, data tracking, and analysis skills using Excel. 

 Course Description

This course is designed to prepare students for next level courses in governmental accounting and reporting; nonprofit accounting and reporting; health accounting; and financial management.  Students are expected to develop an understanding of basic accounting concepts, assumptions, important Generally Accepted Accounting Principles (GAAP) and accounting cycles as understood and practiced in business (for profit) organizations.  Using the business accounting cycle as a basis, students will learn the basic nonprofit and governmental accounting cycles.

Course Competencies:

  • Understand basic accounting concepts and terminology.
  • Analyze basic financial transactions and determine how they are recorded by an accounting system.
  • Describe how basic financial transactions affect financial statements.
  • Describe and analyze the information that an entity presents in each of the basic financial statements.

 Learning Outcomes 

Upon completion of this course, students should be able to:

  • Explain basic accounting concepts using financial accounting terminology.
  • Determine the accounting treatment of normal ongoing transactions for business, nonprofit and governmental entities
  • Explain the purpose of adjusting entries and be able to determine appropriate adjusting entries for common situations.
  • Construct financial statements using Generally Accepted Accounting Principles (GAAP).
  • Evaluate an entity’s financial performance and position by examination of relevant financial statement information.
  • Detailed learning outcomes are described at the beginning of each text chapter.

 Course Requirements 

Incomplete Grades and Late Withdrawals:  Withdrawal after the automatic withdrawal period requires approval by the instructor and relevant Program Director, and must be based on dire circumstances relating to extended illness or equivalent distress (IU Enrollment and Student Academic Information Bulletin). Requests to drop due to a failing grade will not be approved. The student must be passing the course at the time of withdrawal.

Academic Integrity:

 Required Texts

Elements of Accounting for Business, Not for Profit, and Governmental Organizations

Author(s) - Antonette McCaster: / Publisher: Top Hat / ISBN: 9781773306742

This text is available to you as an IU e-text and is accessible through the course Canvas site.  You have already paid for it ($34.98) through your IU Bursar account.

 Course Policies

1.  Attendance:. Students are expected to attend all classes.  Failure to attend class will result in grades of zero on module quizzes and result in a dramatically negative impact on your grade for the semester.

2.  Make-up Exams:. Contact your professor immediately if you have an unavoidable conflict that prevents you from being able to take a scheduled exam or quiz.  I expect you to resolve conflicts with me in advance not after exams and other graded assessments have been missed.

3.  Late Assignments:. Late assignments are not accepted and result in a grade of zero unless there is an advance agreement with the instructor.

4.  Technology Use:. Students should have a device that gives them access to both Canvas and Microsoft excel.  In some classes we will use excel templates to help us to solve complex problems.  Students are expected to stay focused on course material while in class and not use devices for entertainment or other con-course related tasks.

 Course Communication Policy

All course communication will occur through Announcements on the Canvas platform.  You should check Canvas announcements for this course on a daily basis.  

Please use Canvas email when communicating with me regarding any matter related to this class.  If you wish to discuss something that is not related to this class please use my regular IU email.

 Assignments and Grades

Grades:  Grades will be assigned based on your performance relative to other students in the class. You will not be held to an absolute grading scale such as 90% and above being an A. You should expect the actual grading scale to closely approximate the recommended scale. Expect exams and other assignments to be challenging. When final grades are assigned your professor will have no sympathy for students who did not complete assignments when due and participate in the course in a regular and deliberate manner. If it is your ambition to complete a concentration in Public Finance you should strive to master the course material and receive an A grade in this class. You will be in a much better position to understand financial management if you learn accounting well.

Relative Value of Graded Course Elements:                                                 

            Homework (in course text)                                           10%                                                     

            Practice Problems                                                          10%         

            Module Quizzes                                                             25%                                                             

            Mid-Term Exams (2 @ 15% each)                                 30%                                                  

            Final Exam                                                                      25%                                                  

            Total                                                                                                     100%

 

Canvas Gradebook:  When you complete a graded homework assignment, module quiz or examination a grade will appear for it in the Canvas gradebook.  Over the course of the semester there will be hundreds of separate items in the gradebook.  Please note that the estimated grade that appears in the Canvas gradebook during the semester is probably not an accurate reflection of your actual grade and should not be relied upon because items are not weighted properly and final adjustments for dropped low scores have not been made.  If you have doubts about how you are doing in this class at any given time reach out to me or my graduate assistant.

Homework:  Accounting is a practice oriented discipline. Much of your learning will occur by applying concepts to examples and working through problems. Homework assignments will be prepared and graded on-line through both the Canvas and Tophat platforms. All homework assignments are weighted equally. It is your responsibility to be aware of due dates and complete homework assignments on time. Homework will always be due no later than Sunday at midnight. Late homework submissions will not receive credit. Your instructor is not generally available to provide homework support to you on weekends.  Plan accordingly and complete your homework while you have support during the week.

Over the course of the semester hundreds of individual problems are assigned. Your lowest five homework scores will be dropped. Homework problems reflect the concepts and skills that your professor expects you to learn in the course and are an obvious reflection of what you will see on quizzes and exams.

Homework problems can be re-worked up to three times before they are graded.  You should strive to receive full credit for the homework portion of your grade.  You are encouraged to work with your classmates on homework assignments. Quizzes and exams are your own separate work.  Collaboration on these assignments is considered cheating and is not tolerated.

 Assignment Return and Feedback Policy

In class quizzes will given at least weekly.  These quizzes may take place at any point in the class and will be brief.  They will be reviewed one you have completed them.

Mid-term exams will be returned and reviewed within one week of when they were given.

 Schedule of Assignments

A tentative schedule of daily assignments including mid-term exam dates is available at this link:  Spring 2022 V246 Schedule of Assignments S Novak.  This document will be updated as needed during the semester. 

O'Neill School Expectations of Civility and Professional Conduct

The O’Neill School takes matters of honesty and integrity seriously because O’Neill is the training ground for future leaders in government, civic organizations, health organizations, and other institutions charged with providing resources for the public, and for members of society who are vulnerable and who are lacking in power and status. Precisely because O’Neill graduates tend to rise to positions of power and responsibility, it is critical that the lessons of honesty and integrity are learned early.

O’Neill requires that all members of its community – students, faculty, and staff – treat others with an attitude of mutual respect both in the classroom and during all academic and nonacademic activities outside the classroom. A student is expected to show respect through behavior that promotes conditions in which all students can learn without interruption or distraction. These behaviors foster an appropriate atmosphere inside and outside the classroom:

  • Students are expected to attend class regularly and to be prepared for class.
  • Students must be punctual in their arrival to class and be present and attentive for the duration of the class. Eating, sleeping, reading the newspaper, doing work for another class, wandering in and out of the classroom, and packing up or leaving class early are not civil or professional behaviors.
  • Students must abide by the course policy regarding use of electronic devices in the classroom.
  • Students must responsibly participate in class activities and during team meetings.
  • Students must address faculty members, other students, and others appropriately and with respect, whether in person, in writing, or in electronic communications.
  • Students must show tolerance and respect for diverse nationalities, religions, races, sexual orientations, and physical abilities.
  • Students must not destroy or deface classroom property nor leave litter in the classroom.

** These expectations are excerpted from the O’Neill School Honor Code  (Links to an external site.) .

 Academic Integrity

Online Course Materials

The faculty member teaching this course holds the exclusive right to distribute, modify, post, and reproduce course materials, including all written materials, study guides, lectures, assignments, exercises, and exams. While you are permitted to take notes on the online materials and lectures posted for this course for your personal use, you are not permitted to re-post in another forum, distribute, or reproduce content from this course without the express written permission of the faculty member. Any violation of this course rule will be reported to the appropriate university offices and officials, including to the Dean of Students as academic misconduct.

Note Selling

Several commercial services have approached students regarding selling class notes/study guides to their classmates. Selling the instructor’s notes/study guides in this course is not permitted. Violations of this policy will be reported to the Dean of Students as academic misconduct (violation of course rules). Sanctions for academic misconduct may include a failing grade on the assignment for which the notes/study guides are being sold, a reduction in your final course grade, or a failing grade in the course, among other possibilities. Additionally, you should know that selling a faculty member’s notes/study guides individually or on behalf of one of these services using IU email, or via Canvas may also constitute a violation of IU information technology and IU intellectual property policies; additional consequences may result.

 Technical Support

For additional help with technical issues, consult:

 Additional Information

  1. Counseling and Psychological Services (CAPS)
  2. Disability Services for Students (DSS)
    • Securing accommodations for a student with disabilities is a responsibility shared by the student, the instructor and the DSS Office. For information about support services or accommodations available to students with disabilities, and for the procedures to be followed by students and instructors visit the office of Disability Services webpage.  (Links to an external site.)
  3. Diversity, Equity, and Inclusion (DEI) 
    • The Office of Diversity, Equity, and Inclusion (DEI) at the O’Neill School aims to respect and elevate the voices of all community members, whose diverse perspectives span the dimensions of race and ethnicity, national origin, culture, and language; gender, gender identity, sexual orientation, and marital status; religion and political perspective; age; disability status; veteran status; and socioeconomic status.
    • Through out DEI office, we ensure that our faculty, staff, students, and alumni engage in scholarship, teaching, and professional practice to enhance democracy, increase trust in public institutions, address issues of systematic inequality, secure public health and safety, and improve the well-being of individuals, families, communities, and the environment. The office is committed to creating change with the O’Neill School by opening doors and opening minds. To learn about how to get involved the office, please visit at the Office of Diversity, Equity, and Inclusion webpage or email us .
  4. Religious Observation
  5. Sexual Harassment
    • As your instructor, one of my responsibilities is to help create a safe learning environment on our campus. Title IX and our own Sexual Misconduct policy prohibit sexual misconduct.  If you have experienced sexual misconduct, or know someone who has, the University can help.
      If you are seeking help and would like to talk to someone confidentially, you can make an appointment with:
      • The Sexual Assault Crisis Service (SACS) at 812-855-8900
      • Counseling and Psychological Services (CAPS) at 812-855-5711
      • Confidential Victim Advocates (CVA) at 812-856-2469
      • IU Health Center at 812-855-4011

For more information about available resources visit the Stop Sexual Violence webpage  (Links to an external site.) . It is also important to know that federal regulations and University policy require me to promptly convey any information about potential sexual misconduct known to me to our campus’ Deputy Title IX Coordinator or IU’s Title IX Coordinator. In that event, they will work with a small number of others on campus to ensure that appropriate measures are taken and resources are made available to the student who may have been harmed.  Protecting a student’s privacy is of utmost concern, and all involved will only share information with those that need to know to ensure the University can respond and assist.  I encourage you to visit the Stop Sexual Violence webpage  (Links to an external site.) to learn more.

 

Additional information and resources, including mental health and financial aid, can be found in the O'Neill Student Portal

Course Summary:

Course Summary
Date Details Due