SYLLABUS FOR PRINCIPLES OF ACCOUNTING I
Term: Fall, 2006-2007 (061) August 28 – December 9, 2006
Course Number: ACC 210 X
Instructor: Mr. Kenneth Taylor, CPA
Office: Room 518
Office Phone: (219) 473-4294
E-mail: kenatcpa@comcast.net
Home Phone: (219) 865-1516 after 6pm
Office Hours: Monday 6:00pm – 7:00pm and 10:00pm – 10:30pm
Thursday 6:00pm – 7:00pm and 10:00pm – 10:30pm
Other hours by appointment
Instructor Background: Certified Public Accountant licensed in Indiana and Illinois. Partner in public accounting firm. BS in accounting from Purdue University Calumet.
Course Time: Monday 7:00pm – 10:00pm
This course prepares the accounting student in the theory and techniques of accounting necessary for the advanced courses and provides a basic introduction to accounting for those students pursuing an accounting degree. Students will be introduced to financial statements and the accounting cycle for a service and merchandise business.
MTH 103 or MTH 160 or concurrent registration
Learning Outcomes/Student Competencies:
Upon completion of this course the students will be able to:
1. Discuss the purpose and usefulness of a double entry accrual accounting system and explain its role in making business decisions.
2. Identify and explain the meaning of standard accounting terms.
3. Explain how accounting transactions affect the accounting equation, income statement, statement of owner’s equity, and balance sheet.
4. Apply the rules of debits and credits to prepare general and special journal entries for common business transactions of a service enterprise and a merchandising business.
5. Post transactions from journal to general ledger accounts and subsidiary ledger accounts.
6. Prepare a trial balance and subsidiary ledger reports and explain their interrelationships and role in the accounting system.
7. Explain the purpose of accruals and deferrals; identify accrual and deferral accounts; record accrual and deferral entries.
8. Analyze data and prepare a worksheet for a service enterprise and a merchandising business.
9. Prepare an income statement, statement of owner’s equity and a balance sheet for a service enterprise and a merchandising business and explain their purpose in an accounting system.
10. Prepare adjusting, closing and reversing entries for a service enterprise and a merchandising business and explain their purpose in the accounting system.
11. Demonstrate competency in accounting by completing a set of comprehensive problems.
Textbooks: Accounting Principles, seventh edition, Weygandt, Kieso & Kimmel
Pocket Calculator, Handout Materials
Learning Strategies: Lecture, Class Discussion, Practical Exercise
Assessment:
Exams (3 exams) 60 % of grade
Class participation/attendance 10 % of grade Homework problems 20 % of grade
Comprehensive problems (2) 10% of grade
Class Policy For Assignments:
All problems must be turned in at the end of the class period for which they are assigned. Late class assignments will not be accepted without approval prior to the due date. Excessive missed assignments could reduce grade one level.
Grading Scale:
A: 93 A-: 90 B+: 88 B: 83 B-: 80 C+: 78
C: 73 C-: 70 D+: 68 D: 63 D-: 60 F: Below 60
Class Policy on Attendance:
Attendance at all class sessions is important. Advance notice should be given of any anticipated absence. Your absence from six class sessions will reduce your grade one level.
Center for Academic Excellence:
Tutoring assistance is free to all students of Calumet College of St. Joseph. Call the Center for Academic Excellence (CAE), to make an appointment at 473-4287. The center has experienced and well-trained tutors in most subjects areas to help students who are struggling in a course or who are doing well and would like to do better. Regular weekly tutoring sessions are likely to improve your grade.
Statement of Plagiarism:
If an instructor or other Calumet College of St. Joseph personnel find that a student has plagiarized or been involved in another form of academic dishonesty, the instructor or other personnel may elect to bring the matter up for judicial review. The maximum penalty for any form of academic dishonesty is dismissal from the College. The procedures for judicial review are listed under the section of CCSJ handbook that addresses student grievances
Please Note: Calumet College of St. Joseph subscribes to Turnitin.com and all papers can and may be submitted for checks on plagiarism from the internet/electronic sources/databases.
Citation Guidelines:
Calumet College of St. Joseph adheres to the citation guidelines as prescribed by the particular discipline (i.e., MLA, APA, and Chicago Manual of Style or Turabian). All of these guidelines are available in the Calumet College of St. Joseph library or bookstore. These texts outline how to cite references from a variety of sources, including electronic media.
Withdrawal from Classes Policy:
After the last day for class changes has passed (see College calendar), students may withdraw from a course in which they are registered with permission from the faculty member conducting the course. A written request detailing the reason(s) for the withdrawal must be filed with the Registrar. Written request for withdrawal must be received by the Registrar by the last day of classes prior to the final examination dates specified in the catalogue. Written requests may be mailed to the Registrar or faxed to the College fax number 219-473-4259. Students are to make note of the refund schedule when withdrawing from courses. The request is forwarded to the faculty member, who makes the final determination to accept or deny the request.
If the request is honored, the student will receive notification of official withdrawal; if denied, the notification will indicate why the withdrawal is disallowed.
An official withdrawal is recorded as a "W" grade on the student's transcript. Dropping a
course without written permission automatically incurs an "F" grade for the course (see
Refund Schedule).
School Closing Information:
Facility: Calumet College of St. Joseph
Phone: (219) 473-4770
Internet: http://www.ccsj.edu
http://www.EmergencyClosings.com
Radio: WAKE – 1500 AM
WGN – 720 AM
WIJE – 105.5 FM
WLS – 890 AM
WZVN – 107.1 FM
WBBM NEWS RADIO 78
Class Date Topic-Assignment
August 28 Introduction to Course Outline.
Chapter 1 – Accounting in Action
Homework Ch 1 – BE: 1-1 through 1-10
E: all odd
PR: 1-1A
September 4 LABOR DAY HOLIDAY – NO CLASS
September 11 Chapter 2 – The Recording Process
Homework Ch 2 – BE: 2-1 through 2-10
E: all odd
PR: 2-1A, 2-2A, 2- 4A
September 18 Continue Chapter 2
September 25 Read Chapter 3 – Adjusting the Accounts
Homework Ch 3 – BE: 3-1 through 3-10
E: 3-1 through 3-11 odd
PR: 3-1A
Class Assignments (continued)
October 2 FIRST EXAM – Covers Ch’s 1 through 3
October 9 Read Chapter 4 – Completion of the Accounting
Cycle
Homework Ch 4 – BE: 4-1 through 4-11
E: 4-1 through 4-11 odd
PR: 4-1A
October 16 Read Chapter 5 – Accounting for Merchandising Operations
Homework Ch 5 – BE: 5-1 through 11
E: 5-1 through 5-11 odd
PR: 5-1A
October 23 Read Chapter 6 – Inventories
Homework Ch 6 – BE: 6-1 through 6-9
E: 6-1 through 6-11 odd
PR: 6-1A, 6-2A
October 30 SECOND EXAM – Covers Ch’s 4 through 6
November 6 Read Chapter 7 – Accounting Information Systems
Homework Ch 7 – BE 7-1 through 7-9
E: 7-1 through 7-11 odd
PR: 7-1A, 7-2A
November 13 Read Chapter 8 – Internal Control and Cash
Homework Ch 8 – BE: 8-1 through 8-11
E: 8-1 through 8-10 odd
PR: 8-1A, 8-2A
November 20 Read Chapter 9 – Accounting for Receivables
Homework Ch 9 – BE: 9-1 through 9-12
E: 9-1 through 9-11 odd
PR: 9-1A
November 27 Read Chapter 10 – Plant Assets, Natural Resources, and Intangible Assets
Homework Ch 10 – BE: 10-1 through 10-13
E: 10-1 through 10-11 odd
PR: 10-1A, 10-2A
December 4 FINAL EXAM – Covers Ch’s 7 through 10