AUSTIN COMMUNITY COLLEGE
ACCOUNTING DEPARTMENT
COURSE SYLLABUS
INTRODUCTION TO ACCOUNTING PART I – ACNT 1303
(This is now a common course number)
CIP CODE AREA: 52.0302
COURSE LEVEL: Introductory (Freshman Level)
COURSE NUMBER: ACNT 1303 (Common Course)
COURSE TITLE: Introduction To Accounting Part I: Non-Business Majors
CREDIT HOURS: 4; LECTURE HOURS: 3; LAB HOURS: 3
PREREQUISITE: None: Skills: R
METHOD OF PRESENTATION: Three-hour lecture/discussion each week. One lab hour each week.
CATALOG DESCRIPTION: ACNT 1303 INTRODUCTION TO ACCOUNTING I (3-3-1). A study of analyzing, classifying, and recording business transactions in a manual and computerized environment (QuickBooks). Emphasizes an understanding of the complete accounting cycle, preparation of basic financial statements, bank reconciliation’s, and payroll. Skills: R
TEXTBOOKS: College Accounting by Heintz & Perry, South-Western, 17th edition/
Optional: Study guide and working papers to accompany text.
COURSE REQUIREMENTS: See specific Instructor's First Day Class Handout.
OTHER: Basic computer skills utilizing word processing and spreadsheet are recommended for ACCT 1303.
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Course Rationale:
The goals and objectives of this course prepare students for (1) obtaining or improving job skills, (2) qualifying for a business or accounting job, (3) achieving job advancement, completing the courses required for the Certified Public Accounting (CPA) exam (a minimum of an undergraduate (4 year) degree is required for the CPA exam), (4) preparing for accounting or business certification exams (CMA, CFA, CGFM, CIA, etc), (5) preparing for a master’s program, (6) working as an entrepreneur, (7) completing degree requirements and/or (8) fulfilling personal goals.
Scans Competencies:
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 lab 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 QuickBooks software
b. Analyzes information necessary to complete and 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
Scholastic
Dishonesty:
The following statement on scholastic dishonesty must be included: Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating n an exam or quiz, plagiarizing, and 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 tests, quizzes, whether taken electronically or on paper; projects, either individual or group; classroom presentations, and homework.
Students
with Disabilities:
The following statement on students with disabilities must also be included: 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.
Course
Evaluation/Grading System, How to Reach the Instructor, and Course
Outline/Calendar:
Refer to the Instructor’s syllabus for this course.
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COURSE LEARNING OUTCOMES
Upon successful completion of this course, you should be able to:
LEARNING OBJECTIVES:
Chapter 1
Describe the purpose of accounting.
Describe the accounting process.
Define three types of business ownership structures.
Classify different types of businesses by activities.
Identify career opportunities in accounting.
Chapter 2
Define the accounting elements.
Construct the accounting equation.
Analyze business transactions.
Show the effects of business transactions on the accounting equation.
Prepare an income statement, statement of owner’s equity, and balance sheet.
Define the three basic phases of the accounting process.
Chapter 3
Define the parts of a T account.
Foot and balance a T account.
Describe the effects of debits and credits on specific types of accounts.
Use T accounts to analyze transactions.
Prepare a trial balance, and explain its purposes and linkages with the financial statements.
Chapter 4
Describe the flow of data from source documents through the trial balance.
Describe the chart of accounts as a means of classifying financial information.
Describe and explain the purpose of source documents.
Journalize transactions.
Post to the general ledger.
Explain how to find and correct errors.
Chapter 5
Prepare end-of-period adjustments.
Prepare a work sheet.
Describe methods for finding errors on the work sheet.
Journalize adjusting entries.
Post adjusting entries to the general ledger.
Chapter 6
Prepare financial statements with the aid of a work sheet.
Journalize and post closing entries.
Prepare a post-closing trial balance.
List and describe the steps in the accounting cycle.
Chapter 7
Establish a change fund and use the cash short and over account.
Chapter 8
Chapter 9
Describe and calculate employer payroll taxes
Account for employer payroll taxes expense
Describe employer reporting and payment responsibilities
Describe and account for workers’ compensation insurance
Chapter 10
Explain the cash, modified cash, and accrual basis of accounting.
Describe
special records for a professional service business using the modified cash
basis.
Describe and use a combination journal to record transactions of a professional service business.
Post from the combination journal to the general ledger.
Prepare a work sheet, financial statements, and adjusting and closing entries for a professional service .