PRINCIPLES OF ACCOUNTING I

Instructor:        Gary Guinn, CPA-Inactive

ACCT& 201

E-mail:             Gary.Guinn@skagit.edu

Fall 2009

Office:             

(E-learning)

Office phone:  

CourseCompass ID: guinn88407

                                   

COURSE DESCRIPTION

Introduction to financial accounting as an essential part of business decision making. The concepts of asset/liability valuation and reporting, income measurement, inventory systems and the interpretation of financial statements are presented. Required for business majors transferring to 4 year business programs.  This class is recommended for the sophomore year.

REQUIRED TEXTBOOK  (The good news is that you will use the same book for ACCT& 202 & 203.)

 

You have three textbook options:

 

Option #1:  E-Book Version:  (ISBN 0136155154):  MyAccountingLab, CourseCompass Student Access Code Card, and the E-Book for Financial and Managerial Accounting, Ch. 1-23, 2nd Edition, by Horngren, Harrison & Oliver, Prentice Hall, 2009.  (Least expensive, but no printed book pages.)

 

Option # 2:  Loose Leaf Book Version:  (ISBN 0558302076):  Student Value Package - MyAccountingLab, CourseCompass, Student Access code Card, E-Book, and Loose Leaf Book for Financial and Managerial Accounting, Ch. 1-23, 2nd Edition by Horngren, Harrison & Oliver, Prentice Hall, 2009.

(More expensive, but the printed pages of the book are included.)

 

Option # 3:  Bound Book Version:  (ISBN 0135082250):  MyAccountingLab, CourseCompass Student Access Code Card, E-Book, and Bound Book for Financial and Managerial Accounting, Ch. 1-23, 2nd Edition, by Horngren, Harrison & Oliver, Prentice Hall, 2009.  (Most expensive, but you get a complete printed, bound book.)

 

 

TENTATIVE COURSE CONTENT

 

Chapter 1          Accounting and the Business Environment

Chapter 2          Recording Business Transactions

Chapter 3          The Adjusting Process

Chapter 4          Completing the Accounting Cycle (including Appendix 4A)

Chapter 5          Merchandising Operations (including Appendix 5B)

Chapter 6          Merchandise Inventory

Chapter 7          Internal Control and Cash

 

At the end of each of the above units, you will demonstrate knowledge by taking an assessment (test), which will include multiple choice questions and problems similar to those at the end of each chapter. 

 

 

GRADING

 

Course grades will be determined on the basis of:

 

A.         Seven assessment activities      700 points

B.         Daily homework                         300 points

           

 

No credit will be given for late assignments.  There will be no makeup exams.    The following scale will be used for grades at the end of the quarter:

 

           

93 - 100%  =  A

(930 to 1000 points)

90 -   92%  =  A-

(900 to 929 points)

 

 

87 -   89%  =  B+

(870 to 899 points)

83 -   86%  =  B

(830 to 869 points)

80 -   82%  =  B-

(800 to 829 points)

 

 

77 -    79% =  C+

(770 to 799 points)

73 -   76%  =  C

(730 to 769 points)

70 -   72%  =  C-

(700 to 729 points)

 

 

67 -   69%  =  D+

(670 to 699 points)

63 -   66%  =  D

(630 to 669 points)

60 -   62%  =  D-

(600 to 629 points)

 

 

Below 60% =  E

(599 points or less)

                                                            

           

There are NO opportunities for extra credit in this course.  Therefore, it is important to be well prepared for each exam and to make sure each assignment is completed on time.

 

 

 

GENERAL EDUCATION LEARNING OUTCOMES

 

By the end of this course you should have the following general education outcomes:

 

 

Learning Outcome: 2.1  Identify and express concepts, terms, and facts related to a specific discipline (accounting).

 

Assessment:  Chapter homework assignments and course examinations.

 

Assessment Criteria: Students are required to record financial transactions for corporations, and be familiar with accounting terminology and methodology.

 

Learning Outcome: 2.3  Identify, interpret, and evaluate pertinent data and previous experience to reach conclusions.

 

Assessment:  Chapter homework assignments and course examinations.

 

Assessment Criteria:  Students are required to prepare financial statements for corporations, and then evaluate, interpret and reach conclusions concerning these financial statements. 

 

Learning Outcome: 8.3 Interpret information and reasoning expressed mathematically (for example in

spreadsheets, diagrams, charts, formulas, etc.)

     

Assessment:  Chapter homework assignments and course examinations.

 

Assessment Criteria:  Students are required to analyze financial business transactions for corporations, and then

prepare accounting worksheet spreadsheets for corporations, including columns for the trial balance, adjusting entries, adjusted trial balance, income statement and balance sheet.

 

 

 

 

 

PERSONAL TRAITS AND SKILLS THAT WILL HELP YOU IN ACCOUNTING

 

1.    Keeping financial records involves working with figures.  Therefore, the ability to read numbers accurately; to input numbers accurately; and to add, subtract, multiply, and divide accurately will make your work easier.  Keep a calculator handy at all times.

2.    Records with errors are of very little use.  Avoiding errors, or locating and correcting them when made, is vital to successful work.  The following will help:

·         patience--it takes time to find and correct errors

·         skill in reading--many errors are the result of incorrect reading or interpretation of directions

·         thoroughness--many errors are the result of "short cuts" that cause the omission of vital information in the records

·         promptness--errors are caused by putting off the work until too late to do a good job

·         understanding of accounting principles--recording is done by a set of principles.  Failure to understand these causes errors.

3.     Study to understand; do not just memorize.

·         Study accounting at your best time of day

·         Study daily; do not cram

4.     Chapters 1-4 present the accounting cycle.  These chapters provide the foundation for all higher levels of accounting.  Know these chapters well!

 

 

 

ITEMS TO NOTE

 

1.     Last day to withdraw and receive a "W" without restriction:  October 30.  A student withdrawing after October 30 will be given an E grade.  Severe, undue hardship (such as a death in the family or extended hospitalization) may be grounds for an exception.  Students who fail to complete the course and do not officially withdraw will be assigned an E grade.

2.     Homework is due BY 11 p.m. on date noted on calendar.  Late work will not be accepted.  Systematic preparation for each assignment is an absolute must for success.  If your personal situation will not allow you to devote the necessary time during each week to prepare for this course, I suggest you consider taking it at a more opportune time.  If you are ill, contact the instructor  to make arrangements for work that is due.

3.     Plan to set aside time each day for this course.  The more problems you do, the more proficient and confident you'll become.  Accounting is not a spectator sport!

4.     Incompletes are given only to individuals who cannot take the final examination at its regularly scheduled time because of an unforeseen difficulty such as an accident, illness, or death in the family.  Incompletes are not given to individuals who fall behind in their assignments because of work or other reasons.

 

 

ACADEMIC HONESTY

 

   Academic Honor Code 

All students of Skagit Valley College are responsible for knowing and adhering to the Academic Honor Code of this institution found at http://www.skagit.edu/honorcode. Violations of this code include: cheating, plagiarism, aid of academic dishonesty, fabrication, lying, bribery, and threatening behavior. All incidents of academic misconduct are reported to the student conduct officer.  Students found to be in violation of the Academic Honor Code are subject to academic consequences up to and including failure of the course.  Students may also be subject to college disciplinary sanctions up to and including expulsion from the College.

What is Academic Dishonesty?

Academic dishonesty includes, but is not limited to, the following behaviors in both on-ground and on-line courses:

Plagiarism: Presenting as one’s own, intentionally or not, someone else’s words, ideas, conclusions, images, or data, without specific acknowledgement. This includes, but is not limited to presenting the source’s language without quotation marks (with or without citation); paraphrased language that is not cited; and/or language that is cited, but insufficiently paraphrased;

Cheating:                                                                                                                           

    I.          using unauthorized assistance, notes, or study aids in completing assignments, taking quizzes, tests, or exams;

   II.          allowing another party to do one's work/exam and turning in that work/exam as one's own;

  III.          submitting the same or similar work in more than one course or while repeating the same course without permission from the course instructors;

 IV.          the acquisition, without permission, of a test or other academic material belonging to the college;

Fabrication: Falsification or creation of data, research, or resources, or altering graded work without the prior consent of the course instructor;

Lying: Deliberate falsification in written or verbal form;

Bribery: Providing, offering, or taking rewards in exchange for a grade, an assignment, or the aid of academic dishonesty;

Threat: An attempt to intimidate a student, staff, or faculty member for the purpose of receiving an unearned grade or in an effort to prevent the reporting of a conduct violation;

Aid of Academic Dishonesty: Intentionally facilitating any of the above behaviors.

DIGNITY STATEMENT

Skagit Valley College provides a workplace in which all individuals can achieve success in a climate of equality for all people.  Equality must be the guiding principal in all college matters.  Because the college seeks diversity, the rights of all people involved must be respected and preserved.  “Therefore, discrimination and harassment of any form will not be tolerated.  Prejudice, bigotry, racism, and sexism and any other bias of ignorance have no value or place in the mission of Skagit Valley College.  Fostering and development of values which promote open-mindedness, awareness, sensitivity, and respect for differences are encourages and will be supported.”

 

 

ONLINE CLASSROOM CONDUCT

 

Certain behaviors are expected of students in college and university classrooms.  You will be blocked from participating in the class if you are disruptive to the class in any way, including inappropriate remarks on the DISCUSSION BOARD. 

 

 

HOMEWORK PROCEDURE

 

This course will be using a combination of CourseCompass and MyAccountingLab.  MyAccountingLab is similar to MyMathLab, which many of you have already used.  MyAccountingLab is student-centered and has many powerful and diverse ways to help you learn the material. 

 

You will submit all of the Homework Assignments and Assessments (Tests) in MyAccountingLab, which is accessed through CourseCompass. 

 

  1. CourseCompass is very similar to Blackboard, but it is hosted by the book publisher, instead of Skagit Valley College.  So the first thing you will do is register for the class using the CourseCompass Code that came with your book and the Course ID Number at the top of the first page of the syllabus.  The instructions are at:     http://www.coursecompass.com/html/student_how_to_register.html 

 

  1. After registering in CourseCompass, you go to  www.coursecompass.com and log-in each time to do the Homework Assignments and Assessments (Tests).  Once logged into CourseCompass, you will see the usual Blackboard Announcements page with the usual buttons on the left side.

 

  1. One of the first things you will do is a “Browser Check” to make sure your computer will work properly with CourseCompass and MyAccountingLab.  Here are some things to keep in mind:

a.     You do not need the “TestGen Plug-In

b.    You must make sure that all “Pop Up Blockers” are turned off:  ex.) Internet Explorer & Google

 

  1. When taking timed tests, keep in mind that Internet Explorer 7 or 8 will “time-out” and freeze the test if you take too long to enter answers.  This is not a CourseCompass or a MyAccountingLab problem. 

 

  1. MyAccountingLab is a very powerful study tool.  If you click on the DO HOMEWORK tab, you will have access to Sample Tests and Quizzes that you can take on the day before an assessment.

 

  1. The CHAPTER RESOURCES tab is an excellent source.  You need to click on the desired chapter.

 

  1. The MULTIMEDIA tab gives you access to many other study tools, including videos, flashcards, etc.

Using the drop down menu, click on the desired chapter, click on Select All, and click on Find Now.

 

 

 

 

 

 

 

 

ACCT& 201 (E-learning)

Fall 2009

 

TENTATIVE COURSE SCHEDULE

 

MONDAY

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY

Week 1

9/21

Intro to course

and MyAccounting Lab

Chapter 1

Accounting and the Business Environment

assignments available

9/22

9/23

9/24

9/25

Survey DUE by 11 p.m. on Sunday, September 27

Week 2

9/28

9/29

Test 1

(Chapter 1)

available

Chapter 2 assignments available

9/30

Chapter 1 assignments DUE by 11 p.m.

10/1

Test 1

(Chapter 1) DUE by 11 p.m.

10/2

 

Week 3

10/5

10/6

10/7

10/8

10/9

Week 4

10/12

10/13

Test 2

(Chapter 2)

available

Chapter 3 assignments available

10/14

Chapter 2 assignments DUE by 11 p.m.

10/15

Test 2

(Chapter 2) DUE by 11 p.m.

10/16

Week 5

10/19

10/20

10/21

10/22

10/23

Week 6

10/26

10/27

Test 3

(Chapter 3)

available

Chapter 4 assignments available

10/28

Chapter 3 assignments DUE by 11 p.m.

10/29

Test 3

(Chapter 3) DUE by 11 p.m.

10/30

 

 

 

 

 

 

 

 

 

 

 

ACCT& 201 (E-learning)

Tentative Course Schedule

 

Week 7

11/2

11/3

11/4

11/5

11/6

Week 8

11/9

11/10

Test 4

(Chapter 4)

available

Chapter 5 assignments available

11/11

Chapter 4 assignments DUE by 11 p.m.

11/12

Test 4

(Chapter 4) DUE by 11 p.m.

11/13

Week 9

11/16

11/17

Test 5

(Chapter 5)

available

Chapter 6 assignments available

11/18

Chapter 5 assignments DUE by 11 p.m.

11/19

Test 5

(Chapter 5) DUE by 11 p.m.

11/20

Week 10

11/23

11/24

Test 6

(Chapter 6)

available

Chapter 7 assignments available

(Due Sunday, December 6)

11/25

Chapter 6 assignments DUE by 11 p.m.

11/26

THANKSGIVING!

11/27

Test 6

(Chapter 6) DUE by 11 p.m.

Week 11

11/30

12/1

12/2

12/3

12/4

Chapter 7 assignments DUE by 11 p.m.

on Sunday, December 6

Test 7

(Chapter 7)

available at 8 a.m. on Saturday, December 5

Week 12

12/7

Test 7

(Chapter 7) DUE by 11  p.m.

12/8

12/9

 

12/10

12/11

 

 

GRADED HOMEWORK

 

 

 

Chapter

 

 

Assignment

 

Submit To

 

 

Due

 

Points

Survey

Instructor

Sunday, September 27

5

1

S 1-1, S 1-2, S 1-3,S 1-5,

S 1-10, S 1-11, S 1-12,

E 1-14, E 1-17, E 1-19,

E 1-22, E 1-24, P 1-29A,

P 1-30A, P 1-33A, P 1-34A,

P 1-35A, P 1-36A

MyAccountingLab

Wednesday,

September 30

by 11 p.m.

30

2

S 2-2, S 2-4, S 2-5, S 2-6,

S 2-8, S 2-9, E 2-15, E 2-16,

E 2-17, E 2-18, E 2-19,

E 2-21, E 2-22, E 2-23,

E 2-24, P 2-27A, P 2-28A,

P 2-29A, P 2-30A, P 2-31A,

P 2-32A, P 2-33A, P 2-34A,

P 2-35A, P 2-36A, P 2-37A,

P 2-38A, P 2-39A, P 2-40A

MyAccountingLab

Wednesday, October 14

by 11 p.m.

61

3

S 3-1, S 3-2, S 3-3, S 3-4,

S 3-5, S 3-6, S 3-7, S 3-8,

S 3-9, S 3-10, S 3-11,

S 3-12, E 3-13, E 3-14,

E 3-15, E 3-16, E 3-17,

E 3-18, E 3-19, E 3-20,

E 3-22, E 3-23, E 3-25,

E 3-26, E 3-27, P 3-28A,

P 3-29A, P 3-31A, P 3-33,

P 3-34A E 3A-1

MyAccountingLab

Wednesday, October 28

by 11 p.m.

42

Appendix 3A

E 3A-1, E 3A-2, P 3A-3

MyAccountingLab

Wednesday, October 28

by 11 p.m.

4

4

S 4-4, S 4-5, S 4-6, S 4-7,

S 4-8, S 4-9, S 4-10, S 4-11,

E 4-12, E 4-16, E 4-17,

E 4-18, E 4-19, E 4-20,

E 4-21, E 4-22, P 4-23A,

P 4-24A, P 4-25A

MyAccountingLab

Wednesday,

November 11

by 11 p.m.

40

Appendix 4A

P 4A-1A

MyAccountingLab

Wednesday,

November 11

by 11 p.m.

2

5

S 5-2, S 5-3, S 5-4, S 5-5,

S 5-6, S 5-7, S 5-8, S 5-9,

S 5-10, S 5-11, S 5-12,

E 5-13, E 5-14, E 5-15,

E 5-16, E 5-17, E 5-18,

E 5-19, E 5-20, E 5-21,

E 5-22, E 5-23, E 5-24,

E 5-25, P 5-26A, P 5-27A,

P 5-28A, P 5-29A, P 5-30A,

P 5-31A, P 5-32A, P 5-33A

MyAccountingLab

Wednesday,

November 18

by 11 p.m.

39

 

6

S 6-1, S 6-2, S 6-3, S 6-4,

S 6-5, S 6-6, S 6-7, S 6-8,

S 6-9, S 6-10, S 6-11,

S 6-12, S 6-13, E 6-15,

E 6-16, E 6-17, E 6-18,

E 6-19, E 6-20, E 6-21,

E 6-22, E 6-23, E 6-24,

E 6-25, E 6-26, E 6-27,

P 6-28A, P 6-29A, P 6-30A,

P 6-31A, P 6-32A, P 3-33A,

P 6-34A

MyAccountingLab

Wednesday,

November 25

by 11 p.m.

41

7

S 7-1, S 7-2, S 7-3, S 7-4,

S 7-5, S 7-6, S 7-7, S 7-8,

S 7-9, S 7-10, S 7-11,

S 7-12, E 7-13, E 7-14.

E 7-15, E 7-16, E 7-17,

E 7-18, E 7-19, E 7-20,

E 7-21, E 7-22, E 7-23,

E 7-24, P 7-26A, P 7-27A,

P 7-28A, P 7-29A, P 7-30A,

P 7-31A, P 7-32A

MyAccountingLab

Sunday,

December 6

by 11 p.m.

36