SYLLABUS
ACC 2010: PRINCIPLES OF ACCOUNTING I
Semester I,
07-08
Three semester
hours
Instructor:
Mrs. Carolyn Caldwell (office: Hard234,
phone: 3062, email: crcaldwell@anderson.edu,
webpage: http://facultyweb.anderson.edu/~crcaldwell/
)
OFFICE HOURS: Monday, Wednesday, Friday--8:00-8:45,
10-10:45 am, or by appointment.
STUDY
GROUP:
REQUIRED TEXT: Fundamental
Financial Accounting Concepts, 5th edition, Edmonds/Edmonds/McNair/Olds, http://highered.mcgraw-hill.com/sites/0072989432/
(for check figures and practice quizzes)
REQUIRED
MATERIALS: HP-10BII calculator
COURSE OBJECTIVES
Upon successful completion of this course, students
will be able to:
1. Understand the basic
principles, elements and concepts of accounting
2. Use proper methods to record
and communicate useful financial data to others
3. Be able to perform a
complete accounting cycle from source documents to post closing trial balance
for a business
4. Understand the role of
accounting in making informed decisions, in providing an overview for
non-accounting majors and in building a foundation for further study for
accounting majors through management planning, performing, and evaluating
cycles.
EVALUATION
Students are expected to attend class regularly
and on time. If attendance has
already been taken when you arrive, you are considered absent unless you
contact the professor after class. Much
of one’s grade is based on his/her contribution to the student-learning
team. If one is not in class on a
regular and punctual basis, significant contribution is impossible. Students
may arrange help sessions with the grading/study table assistants or one should
always feel free to ask the instructor for help, but plan ahead so the help can
be given in an optimum fashion
Make-ups will NOT be given for missed homework,
quiz-re-quizzes, or in-class cases. There will be NO make-up exams unless one has
made prior arrangements and at the instructor’s discretion.
Students are expected to do their own work. Copying
homework or exams is plagiarism and will result in the loss of credit for the
assignment/exam and a reporting of the incident to the Vice President for
Academic Affairs. This abides with
the policy defined in The Student
Handbook!. CELL PHONES ARE TO BE TURNED OFF AT ALL TIMES AND NOT USED DURING
EXAMS. LEAVING THE ROOM DURING EXAMS IS
BY INSTRUCTOR PERMISSION ONLY.
GRADING:
Exams
(4 @ 100) [application, analysis, and written communication] 400 points
Quiz/Requiz
(9 @ 5) [knowledge and comprehension] 45 points
In-class
cases (9 @ 5) [application and analysis] 45 points
Homework
Completion (4 @ 5) [application and analysis] 20 points
Teamwork
(4 @ 5) [interpersonal and oral communication] 20 points
530
points
GRADING SCALE: (based on 530 total points)
530-493 points A 423-413
points C+ 317 or lower F
492-477 points A- 412-387 points C
476-466
points B+ 386-371 points C-
465-440 points B 370-360
points D+
439-424 points B- 359-318
points D
CLASS FORMAT
This is a demanding course and requires discipline
of the student to read the chapter
and attempted all homework assignments
prior to class. (Check figures for problems on textbook web
page.) Even a brief retreat from this study
habit will be very damaging. One should
expect to work 2 hours outside of class for every hour of class time. In general, each topic (chapter) is examined
for one week. The first class period is
a discussion and lecture over the assigned reading and the second and third class
period are devoted to problem solving and analysis.
Quiz/Requiz: (Sample
quiz questions on textbook web page.)
Each student is graded on 9 of 11 quiz/requizzes. Quizzes are 5 point multiple-choice quizzes
administered at the beginning of class when a new chapter is begun. The quiz is taken individually by each
student and handed in. Then, the quiz is
retaken by the student-learning team.
The student’s grade is the average of the individual and team grade for
that quiz.
In-Class Cases: Each
student-learning team is graded on 9 of 11 in-class cases. These 5 point cases are to be completed after
the student-learning team has mastered the homework material. In-class cases must be completed in class
without the aid of notes or books. The
cases are designed to provide teams with a self-check of the chapter material
prior to the examination.
Teamwork: The
student’s contribution to the team is invaluable. It is important that the student-learning
teams function as teams, not merely groups.
Therefore, each team member is assigned a role which will rotate after
each exam. Each student in the team is
evaluated by the personnel director, who, in turn, is evaluated by the
instructor. The student-learning team
roles are:
CEO:
(1)Leads but does not control the team discussion,
(2)appoints acting person when someone is absent,
(3)breaks
ties when necessary, (4)is ready to work each day
Personnel Director:
(1)Takes daily
attendance for every member of the team, (2)checks homework, (3)determines each
member’s contributions to team and prepares an individual evaluation at end of
exam period, (4)is ready to work each day
Production
Manager:
(1)Determines the
task for the day by checking folder for assignments left there by instructor,
(2)distributes graded material so folder is kept in neat order and returns
folder at end of class, (3)ensures that tasks are completed on time, (4)is
ready to work each day
Information
Systems Specialist:
(1)Elicits
responses from all team members before making records, (2)turns in all recorded
work by leaving in the folder for instructor to grade, (3)is ready to work each
day
Sept 5 Introductions; course objectives;
policies; student background and interests assessment
Sept
7 Chapter 1: Elements of Financial Statements, Q/R #1
Sept 10 Chapter 1: Discussion and Lecture, E1-13A (Equation),
E1-23A (Horizontal Statement)
Sept 12 Problems: P1-33A, P1-29A, ATC 1-7, Case # 1
Sept
14 Chapter 2: Accounting
for Accruals, Q/R #2
Sept
17 Chapter 2: Discussion and Lecture, E2-6A, E2-7A, E2-8A,
E2-14A, E2-17A
Sept
19 Problems: E2-19A, P2-27A, P2-29A, Case #2
Sept
26 Problems: P3-17A, P3-19A,
ATC3-9a (on Excel, print original with formulas—Tools, Options, View,
Formulas), Case #3
Sept 28 EXAM: Chapters 1-3
Oct
1 Chapter 4: The
Recording Process, Q/R #4
Oct
3 Chapter 4: Discussion and Lecture, E4-3A, E4-4A, E4-6A, E4-8A
Oct
5 Chapter 4: Discussion and
Lecture, E4-9A, E4-10A, E4-17A
Oct 8 Problems:
P4-28A (accounting cycle), CS #4
Oct 10 Chapter 5: Accounting
for Merchandising Businesses (with
emphasis on Perpetual Inventory Method and gross method for reporting
discounts—See my webpage for Replacement of pp.
222-228 of text, Q/R #5
Oct 12 Chapter 5: Discussion and Lecture, E5-2A, E5-6A
(purchase), E5-8A, E5-10A (sale), E5-15A
Oct 15 Problems: P5-25A (accounting cycle); NOTE: Do this problem with the gross method and in #3 and #7 payment was made within the discount
period. Case #5
Oct 17 Chapter 6: Accounting
for Merchandising Businesses—Advanced Topics, Q/R #6
Oct 19 FALL BREAK
Oct 22 Chapter 6:
Discussion and Lecture, E6-1A, E6-3A, E6-4A, E6-8A
Oct 24 Problems: P6-21A, Case #6
Oct 26 EXAM, Chapters 4-6
Oct 29 Chapter 7: Internal
Control and Accounting for Cash,
Q/R#7
Oct 31 Chapter 7: Discussion and Lecture, E7-9A, E7-17A
Nov 2 Problems:
P7-17A, P7-18A, Case #7
Nov
5 Chapter 8: Accounting for Accruals—Advanced Topics—Receivables and
Payables, Q/R#8
Nov 7 Chapter 8:
Discussion and Lecture, E8-1A, E8-2A, E8-3A, E8-4A
Nov
9 Problems: P8-15A, Case #8
Nov
12 Chapter 9: Long-Term
Operational Assets, Q/R #9
Nov
14 Chapter 9: Discussion and Lecture, E9-4A, E9-8A, E9-11A,
E9-14A, E9-15A
Nov
16 Problems: P9-21A, ACT 9-10 a,b,c on Excel and print
copy with formulas, Case #9
Nov 19 EXAM, Chapters 7-9
Nov
21-25 THANKSGIVING VACATION
Nov
26 Chapter 10: Accounting
for Long-Term Debt, (omitting pp.
475-477 but including Appendix
“Time Value of Money”,
pp. 478-482), Q/R #10
Nov
28 Chapter 10: Discussion and Lecture, E10-3A, E10-4A,
E10-9A, E10-13A. E10-17A
Nov 30 Chapter 10: Discussion and Lecture, HP 10B Tutorial,
E10-21A, E10-22A, E10-23A (Use calculator for this assignment)
Dec 3 Problems:
P10-25A, P10-28A, CS #10
Dec 5 Chapter 11: Accounting for Equity Transactions, (omitting p. 523-4 “Stock Issued at Stated or
No-Par Value” but including Appendix “Not for Profit Accounting,” pp. 532-535) Q/R
#11
Dec 7 Chapter 11:
Discussion and Lecture, E11-4A, E11-7A, E11-9A
Dec
10 Chapter 11: Discussion and Lecture, E11-10A, E11-13A
Dec 12 Problems: P11-19A, CS #11
Dec 14 Review for Exam
Dec 17-20 EXAM, Chapters 10-11 (Section
1, Thursday, Dec 20, 9:30 am; Section 3, Tuesday, Dec 18, 8:00 am)
STUDY GUIDE FOR ACCOUNTING STUDENTS
Accounting
Instructors' Report, January 1984
Reading the Textbook
1. Studying accounting is not
like reading fiction or even like studying history, mathematics, or economics.
a. Each assignment in many accounting courses builds on previous
assignments. If you do half-hearted
work in Chapter 1, you may have difficulty in Chapter 2 and be lost in Chapter
3.
b. Accounting books are condensed. Almost every sentence is important. Look over the chapter for content and then
read carefully.
2. Read to understand "why."
a. This is a technical subject, it is logical, it requires
reasoning.
b. Strive to be able to say, "I understand why they do
that." If you can understand "why" in accounting, there is very
little to memorize.
c. Try to explain each new topic in your own words. Getting the ideas into you own words is better
than being able to quote the book.
d. Be critical. Ask your
teacher for the reasons behind accounting methods that you do not understand.
3. Work PROBLEMS to understand "how."
a. You may be able to "understand why they do that,"
but you must be able to do it yourself
as well as understand. This is a do-it-yourself
course.
b. To be sure that you understand
"how" as well as "why," work the problems which illustrate
the reading material in each chapter.
4. Remember "why" and "how."
a. Do not just keep up, consolidate and review as you go.
(1) Go back to previous
chapters and bring yourself up to date.
See how this chapter builds on the last one.
(2) If possible, rework one
problem each week from some previous chapter. Rework problems that were
difficult for you.
b. Never wait until examination time to review. The
review-as-you-go plan produces better results. It does not take as long, and saves the last
minute worry and the sacrifice of other courses that go with cramming.
5. Relate the things we talk about in accounting to things that you
already know--places you have worked, your parents business, other
courses. Try to see how this might help
you do what you want to do in the future.
See if you can use it right now--as a treasurer for campus organizations,
in part-time jobs, in a personal bookkeeping system.
6. If there is something you do not understand, prepare specific
questions to ask your instructor. PINPOINT
THE THING THAT YOU DO NOT UNDERSTAND.
(Some students keep a notebook of points with which they have
difficulty.)
Working Problems
1. Read the problem. Read
the instructions. Scan the problem to see what is ahead of you.
2. Work the problems without "page flipping" back to the
chapter.
a. When in doubt look back at the chapter. BUT not until you have tried to do the
transaction on your own. This indicates
that you do not understand or do not remember the chapter material. You are not prepared for an examination.
b. The "page-flipping" method is guaranteed to waste a maximum
of your time and to produce a minimum of results.
3. Be neat and orderly.
Sloppy calculations, messy papers, and general carelessness cause most
errors in the working of accounting problems.
4. Keep up with your class.
a. Check your problem against the solution presented in class.
b. Find your mistakes.
c. Be sure you understand the correct solution.
5. Note the part of the problem with which you have difficulty and
ask questions during the classroom session.
Make Best Use of Class Time
1. Classes are never
interesting unless you take part.
2. Be prepared before you go
to class.
3. Don't be afraid to ask questions.
4. Students who make failing grades also fail to attend classes,
fail to pay attention during class, fail to do their homework, and fail to ask
the instructor for help. Stay out of
these ruts.
Preparing for Exams
1. Be specific in your study; concentrate on the things which seem
to be most important. (Some students
make up an exam of their own.)
a. Note items that instructor emphasizes in class.
b. Determine topics for which most problems were assigned.
c. Daily quizzes and hour exams often have a close resemblance to
each other.
d. Scan problems that were not assigned for problems that could be
used on an examination.
e. Read questions at the end of the chapters for good test
questions.
2. Do not stop with just "getting the idea." Work some practice problems without the aid of the book.
3. Every exam has an element of speed. Have your "how's and "whys"
right at your fingertips. If you are
slow, you probably need more study.
4. Students are not parrots.
On a good exam you should be expected to give back something more than
was in the textbook. A good exam should
not be a carbon copy of a homework problem.
It will probably approach the material covered from some different
angle to test your ability to reason and understand, rather than your ability
to memorize.
5. When taking exams, many points are lost because the student does
not READ THE PROBLEM, is not neat and orderly (has poor form and makes errors
in addition), or does not show calculations.
6. Examinations need not be a source of worry. Conscientious effort is seldom unrewarded.
(Note: AIR grants permission to reproduce this page
for use in classroom instruction.)