Syllabus - Introduction to Accounting I

COURSE DESCRIPTION

COURSE DESCRIPTION:

A study of analyzing, classifying, and recording business transactions in a manual and computerized environment (Peachtree). Emphasizes an understanding of the complete accounting cycle, preparation of basic financial statements, bank reconciliations, and payroll.

Introduction to Accounting I is a 4 credit hour course consisting of 2 lecture classes (1 hour & 20 minutes each) and 2 lab meetings (1 hour & 20 minutes each) for sixteen (16) weeks. Attendance in both the lecture class and lab meeting is mandatory.

Prerequisite: Degree seeking students are required to have the minimum score on the reading and math portion of the TASP exam. Certificate students must meet the Level 1 requirements. There are several exemptions and waivers to these requirements. Please consult the course schedule, catalog, and/or contact an advisor to confirm your prerequisite status.

The next accounting course is ACNT 1404 – Introduction to Accounting II.

CPA and transfer credit:

To become a CPA in Texas, you must have a minimum of a bachelor’s degree that includes 150 hours of college credit, 36 hours of accounting, and 20 hours of business; pass a uniform exam; and have experience working with a CPA.

ACNT 1403 – Introduction to Accounting I does not qualify for meeting the requirements for accounting courses required to take the CPA exam. Please consult with your instructor immediately if you desire to become a CPA in Texas.

ACNT 1403 – Introduction to Accounting I does not generally transfer to four year colleges and universities. Please consult with an advisor for other university transfer requirements.

INSTRUCTIONAL METHODOLOGY:

The objectives of this course will be met by incorporating a variety of instructional methods. These include lecture, discussion, group activities, student presentations, discussion papers, quizzes, exercises, exams, spreadsheet and word processing activities, accounting software, and online research.

COURSE RATIONALE:

The goals and objectives of this course prepare students for (1) completing degree requirements; (2) obtaining or improving job skills; (3) qualifying for a business or accounting job; (4) working as an entrepreneur; (5) fulfilling personal goals; and/or (6) understanding financial statements and the basic accounting process.

Course Requirements

COURSE OUTLINE/TENTATIVE COURSE CALENDAR:

The following legend is used in this tentative lecture class schedule:

TEXT – ACCOUNTING PRINCIPLES, 10^th EDITION:

SSQ = Self-Study Questions Q = Questions

BE = Brief Exercises E = Exercises

P-A = Problems Set A P-B = Problems Set B

BYP = Broadening Your Perspective CT = Critical Thinking

COMPUTER ACCOUNTING WITH PEACHTREE COMPLETE 2012 (CA):

E = Exercises MCQ = Multiple Choice Questions

SAQ = Short Answer Questions T/MT = True/Make True Questions

HOMEWORK ASSIGNMENT

DATE CHAPTER QUIZ EXAM RECOMMENDED REQUIRED DUE

8-28 1 ‑ ‑ Orientation & general discussion - -

8-30 1 1 - SSQ 1-15; Q 2, 7, 8, 9, 11; BE 1; P 5A(a),

E 4, 5, 7, 11; P 4A; BYP 6 5B(a) 9- 6

9- 4 1-2 2 - SSQ 1-15; Q 2, 6, 7, 10, 17, 18; P 1A, 2A, 3A

BE 1, 10; E 2, 3 9-11

9- 6 2 - - - - -

9-11 3 3 - SSQ 1-15; Q 1, 2, 4, 11; BE 3, 4, E 9; P 1A, 2A

5, 6, 7; DIR 2, 3, 4; E 7, 8 9-18

9-13 3 - - - - -

9-18 4 4 - SSQ 1-16; Q 1, 5, 6, 7, 8, 10, 11, 12, P 1A(c), 5A(a,b,c) 9-27

14, 15, 16, 17, 18; BE 8, 9, 11;

E 2, 3, 4, 12, 13, 15

9-20 4 - - - - -

9-25 1-4 - - Review - -

9-27 1-4 - - Review - -

10- 2 1-4 - I EXAM I - -

10- 4 5 5 - SSQ 1-15; Q 2, 3, 4, 5, 6, 7, 17, E 13, 14, 17;

19; BE 1, 3, 4, 12; DIR 4; P 1A, 7A(a)

E 2, 4, 16 10-11

10- 9 5 - - - - -

CA1 - - - T/MT 1-10;

E 1, 2 10-16

10-11 6 6 - SSQ 1-15; Q 2, 4, 6, 8, 10, 22, 23; E 11; P 2A,

BE 1, 5, 7, 8; DIR 1, 2, 3; E 6, 8, 9, 3A, 5A 10-18

12, 13, 16, 18

10-16 6 - - - - -

CA2 CA1 - - MCQ 1-10;

E 1, 2 10-23

10-18 7 7 - SSQ 1-15; Q 2, 5, 7, 13, 14, 16, 17; P 4A*, 6A*

BE 1, 2, 4, 5, 6, 8; DIR 2; E 8(a), 10 10-25

* Identify which special journal

10-23 7 - - - - -

CA3 CA2 - - SAQ 1-10;

E 1, 2 11- 6

10-25 5-7 - - Review - -

10-30 5-7 - II EXAM II - -

11- 1 8 8 - SSQ 1-14; Q 1, 2, 3, 4, 5, 6, 7, 8, 9, E 11; P 4A

10, 12, 24, 26, DIR 3; E 2, 3 11- 8

11- 6 8 - - - - -

CA4 CA3 - - SAQ 1-10;

E 1, 2 11-15

11- 8 9 9 - SSQ 1-15; Q 1, 2, 4, 6, 8, 10, 14, 15, P1A, 4A, 6A

16; BE 1, 6, 7, 9, 10; DIR 1; E 4 11-20

11-13 9 - - - - -

11-15 9 - - - - -

CA5 CA4 - - MCQ 1-10;

E 1, 2 11-27

11-20 10 10 - SSQ 1-16; Q 7, 9, 10, 12, 13, 14, 16, P 1A, 2A, 6A 12- 4

18, 19, 26; BE 1, 2; DIR 1, 4;

E 1, 2, 6, 11, 15

11-22 - - - Holiday - -

11-26 - - - Last day to withdraw - -

11-27 10 - - - - -

CA6 CA5 - - SAQ 1-8;

E 1, 2 12- 6

11-29 10 - - - - -

12- 4 10 - - - - -

12- 6 10 - - Review - -

CA7 CA6 - - T/MT 1-10;

E 1, 2 12-10

12- 11 8-10 - - Review - -

CA7 - - - -

12-13 8-10 - III EXAM III - -

Course Subjects

COURSE OUTLINE/COVERAGE:

CHAPTER TOPIC TEXT PAGES SUPPLEMENT

TEXT – ACCOUNTING PRINCIPLES, 10^th EDITION:

1 ACCOUNTING IN ACTION 2‑ 31 31 - 46

2 THE RECORDING PROCESS 48- 74 74 - 92

3 ADJUSTING THE ACCOUNTS 94- 122 123 - 143

4 COMPLETING THE ACCOUNTING CYCLE 144- 175 175 - 196

5 ACCOUNTING FOR MERCHANDISING

OPERATIONS 198- 226 226 - 246

6 INVENTORIES 248- 277 277 - 298

7 ACCOUNTING INFORMATION SYSTEMS 300- 323 323 - 343

8 FRAUD, INTERNAL CONTROL, AND CASH 344- 376 376 - 394

9 ACCOUNTING FOR RECEIVABLES 396- 419 419 - 435

10 PLANT ASSETS, NATURAL RESOURCES,

INTANGIBLE ASSETS 436- 465 465- 483

COMPUTER ACCOUNTING WITH PEACHTREE COMPLETE 2012:

1 INTRODUCTION TO BELLWETHER GARDEN

SUPPLY 3- 49 49- 56

2 VENDORS 57- 92 92- 99

3 CUSTOMERS 101- 136 137- 141

4 EMPLOYEES 143- 163 163- 168

5 GENERAL LEDGER, INVENTORY AND

INTERNAL CONTROL 169- 203 204- 209

6 JOB COST 211- 222 223- 227

7 FINANCIAL STATEMENTS 229- 249 249- 254

Readings

Reading:

You are required to read each chapter of the Accounting Principles text and Computer Accounting With Peachtree prior to the first scheduled class discussion of that chapter.

TEXTS/MATERIALS

TEXTS/MATERIALS:

REQUIRED:

TEXT – Accounting Principles, 10^th edition, Weygandt, Kieso, Kimmel, 2012, John Wiley, Publisher

- ComputerAccounting With Peachtree Complete 2012, 16^th edition, Carol Yacht, McGraw-Hill, Publisher

USB Drive

Internet access

Student Learning Outcomes/Learning Objectives

COURSE OBJECTIVE:

Upon successful completion of this course , you should be able to analyze, record and summarize accounting transactions in a manual and/or computerized environment, and prepare basic financial statements for a business.

Common Courses Objectives: Please refer to the Accounting Department Syllabus at http://www.austincc.edu/accting/ACNT1403.htm

SCANS COMPETENCIES:

1999 Texas Higher Education Coordinating Board SCANS Skills. (SCANS is the Secretary’s Commission on Achieving Necessary Skills)

Competency must be shown in the following three areas:

1. Manages time

a. Uses class and lab time efficiently to accomplish required assignments

b. Focuses efforts toward accomplishing class-related goals

c. Prioritizes activities based on deadlines and level of importance

d. Stays on target with class syllabus and planned activities

2. Uses computers to process information

a. Uses lab computers and text to acquire and organize financial information for the completion of lab

assignments using Peachtree Accounting software

b. Analyzes information necessary to complete an accounting cycle and prepare statements using an

automated system

c. Communicates financial information through the processing and production of financial statements

3. Student exhibits responsibility

a. Meets established deadlines for homework and lab assignments

b. Attends class/lab on a regular basis

c. Takes exams on time

d. Seeks assistance from instructor and/or tutors when necessary

e. Prepares for classes

COURSE EVALUATION/GRADING SYSTEM

COURSE EVALUATION/GRADING SYSTEM:

GRADING SYSTEM

Examinations, quizzes, homework assignments, writing assignments, and other activities will be graded

on the following basis:

GRADE POINTS COMMENTS

A = 90 - 100 = Excellent

B = 80 - 89 = Good

C = 70 - 79 = Satisfactory

D = 60 - 69 = Minimum passing

F = 0 - 59 = Failing

COURSE GRADE:

The grade earned by each student in this class will be based on the student's mastery of the course objectives and will be determined as follows.

(1) Accumulated total points on the three exams multiplied by 5/3 = 500

(2) Accumulated total points on ten quizzes on text multiplied by 2/10 = 200

(3) Accumulated total points on seven quizzes on Computer Accounting with

Peachtree Complete 2010 multiplied by 1/7 = 70

(4) Accumulated total points on text assignments = 100

(5) Accumulated total points on Computer Accounting with Peachtree

Complete 2010 assignments = 70

(6) Accumulated total points on class and lab activities (including attendance

and participation as determined by the instructor) = 60

Total maximum points available = 1,000

The final course grade will be determined on the following basis:

GRADE POINTS COMMENTS

A = 900 - 1,000 = Excellent

B = 800 - 899 = Good

C = 700 - 799 = Satisfactory

D = 600 - 699 = Minimum passing

F = 0 - 599 = Failing

There are no make up or grade improvement projects available in this class.

COURSE POLICIES

COURSE POLICIES:

Attendance:

Austin Community College does not have an established attendance policy.

The Business Studies Area has determined that absences in excess of 10 percent of the scheduled class periods are the basis for an instructor to withdraw a student from class. WHILE I MAY WITHDRAW A STUDENT FOR EXCESSIVE ABSENCES, I HAVE NO OBLIGATION TO DO SO.

Attendance is expected at all lecture and lab classes in order to progress satisfactorily toward completion of course objectives.

Arriving at class late or leaving class early is discouraged. Such activity is not conducive to class activities. A student expecting to be late to class or to leave class early should discuss this with the instructor prior to class.

A student who (1) has excessive absences, and/or (2) is not meeting course objectives may be withdrawn from the course at the discretion of the instructor, however, the instructor has no obligation to initiate a student’s withdrawal. Withdrawals initiated by the instructor may be appealed within 10 days.

Withdrawal:

MONDAY, NOVEMBER 26, 2012, is the last day to withdraw from this class and receive a grade of “W”. If a student does not intend to continue in this class, the student should inform the instructor and must complete a withdrawal form which may be obtained from, completed, and turned into the Admissions and Record Office.

NOTE - The instructor in this class will not normally withdraw a student. It is considered the student's responsibility to withdraw from the course. Students that have not withdrawn from this class will receive the appropriate performance grade for the course.

Incomplete:

An "Incomplete" grade is given only in very exceptional circumstances and at the discretion of the instructor. The purpose of this grade is for an emergency that occurs after the withdrawal date and prevents timely completion of the course.

Scholastic Dishonesty:

Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing, unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to quizzes and exams (whether taken electronically or on paper); projects (either individual or group); classroom presentations, and homework.

For this course, the penalty for scholastic dishonesty is a grade of ‘F’ for the course.

Academic Freedom:

Each student is strongly encouraged to participate in class. In any classroom situation that includes discussion and critical thinking, there are bound to be many differing viewpoints. Students may not only disagree with each other at times, but the students and instructor may also find that they have disparate views on sensitive and volatile topics. It is this instructor’s hope that these differences will enhance the class and create an atmosphere where students and instructors alike will be encouraged to think and learn. Therefore, be assured that your grade will not be adversely affected by any beliefs or other ideas expressed in class or assignments. Rather, we will respect the views of others when expressed in classroom discussions.

STUDENT DISCIPLINE:

See the Student Handbook --http://www3.austincc.edu/evpcss/handbk/

OFFICE OF STUDENTS WITH DISABILITIES:

Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reasonable accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.

Lecture Class Activities:

Lecture class activities will consist of lecture, discussion, problem solving, quizzes, and exams.

Lab Activities:

Lab activities will focus on the homework assignments, Peachtree assignments, internet research, problem solving, group work, and oral presentations. All lab assignments must be completed utilizing computer spreadsheets (Microsoft Excel), word processing (Microsoft Word), and/or Peachtree software as applicable. Lab attendance is required!

Quizzes:

There will be seventeen quizzes (ten quizzes covering the text and seven quizzes covering the CA text) with ten quizzes with each quiz covering one chapter of the text and seven quizzes with each quiz covering one chapter of Computer Accounting With Peachtree Complete. The quizzes covering the text will be given at the beginning of the class period during which each chapter is first assigned to be covered. The quizzes covering Computer Accounting With Peachtree Complete will be given during the class following coverage of the material. Each quiz will be timed to take approximately ten (10) minutes.

The quizzes covering the text will consist of approximately 20-25 questions including matching questions covering the key terms and concepts listed at the end of each chapter (Glossary), and supplemented with true‑false questions taken directly from the text. The quizzes covering Computer Accounting With Peachtree Complete will include 10-25 questions covering key terms and concepts.

You are required to take the quizzes as scheduled. A student arriving at class late (5 minutes or more) for a scheduled quiz will not be allowed to take the scheduled quiz and will be required to take an alternative make-up quiz by no later than the next scheduled class meeting. Alternate arrangements are only made in exceptional circumstances and at the discretion of the instructor. Alternate arrangements must be made with the instructor by no later than the class meeting preceding the quiz. Alternative make-up quizzes, if permitted by the instructor, must be taken by the next class meeting following the date the quiz is taken in class and will incur a penalty of 10% (10 points). An additional penalty of 10% (10 points) will be incurred for each class meeting occurring prior to the make-up of the quiz.

Exams:

There will be three major exams with each exam covering a specific segment of the course material. Each exam will be timed to take approximately 75 minutes. The exams will consist primarily ofproblems, multiple choice reasoning and/or problem, and essay type questions.

You are required to take the exams as scheduled. A student arriving at class late (15 minutes or more) for a scheduled exam will not be allowed to take the scheduled exam and will be required to take an alternative make-up exam by no later than the next scheduled class meeting. Alternate arrangements are only made in exceptional circumstances and at the discretion of the instructor. Alternate arrangements must be made with the instructor by no later than the class meeting preceding the exam. Make-up exams, if permitted by the instructor, must be taken before the next class meeting following the date the exam is taken in class and will incur a penalty of 10% (10 points). An additional penalty of 10% (10 points) will be incurred for each class meeting occurring prior to the make-up of the exam.

Homework and Lab Assignments:

Homework consisting of questions, exercises, and/or problems are assigned to facilitate your learning the material and preparing for the exams. Selected homework and lab assignments are required to be completed and submitted on the first class day the next chapter/exam is assigned (e.g.- chapter 1 homework is due the day chapter 2 is assigned, chapter 4 is due the day the first exam is assigned). Homework and lab assignments may be submitted early. Late homework and lab assignments will not be accepted. Homework will be graded based upon neatness and reasonable completeness (not based on the complete accuracy of the homework).

All homework must be prepared using computer programs (Excel, Word, Peachtree) with the following information presented on a cover page for each chapter of the homework:

NAME: (YOUR NAME)

HOMEWORK ASSIGNMENT: CHAPTER 1

P 1-5A(a)

P 1-5B(a)

DUE DATE: 9-6-12 DATE SUBMITTED: (Enter date you

submitted assignment)

For assistance with your homework, tutors are available in the Parallel Studies Lab, or contact the instructor during posted campus office hours.

Text:

You are required to bring your Accounting Principles text and Computer Accounting With Peachtree to every class and lab meeting.

Reading:

You are required to read each chapter of the Accounting Principles text and Computer Accounting With Peachtree prior to the first scheduled class discussion of that chapter.

TESTING CENTER POLICY:

For information, see http://www2.austincc.edu/testctr.

OTHER ACC ASSISTANCE/POLICIES:

See http://www3.austincc.edu/evpcss/evpacsa.htm.

Syllabus Sections

Publish Date

Introduction to Accounting I

Course Information

Office Hours