AUSTIN COMMUNITY COLLEGE
ACCOUNTING DEPARTMENT
MASTER COURSE SYLLABUS
ACNT 1403
INTRODUCTION TO ACCOUNTING PART I
INSTRUCTOR NAME: XXXXXXX
COURSE NAME: Introduction to Accounting Part I
COURSE NUMBER: ACNT 1403
COURSE SYNONYM: XXXXXX
COURSE TIME: XXXXXX
COURSE LOCATION: XXXXX
CREDIT HOURS: 4, (Lecture Hours: 3; Lab Hours: 3)
OFFICE HOURS: XXXXX
OFFICE LOCATION: XXXX
PHONE / EMAIL /WEBSITE: XXXXX
ARRAGEMENT CONFERENCES / APPOINTMENTS: XXXX
CATALOG DESCRIPTION: ACNT 1403 INTRODUCTION TO ACCOUNTING I (4-3-3). 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 reconciliation’s, and payroll. PREREQUISITE: None: Skills: R
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, (4) preparing for a
Principles of Financial Accounting or other accounting course (5) preparing for
a business certification exams (Certified Bookkeeper), (6) working as an
entrepreneur, (7) completing degree requirements and/or (8) fulfilling personal
goals.
STUDENT LEARNING OUTCOMES: See last page.
DISCIPLINE / PROGRAM OUTCOMES: See last page
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) Focus 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
TEXTBOOKS: Accounting
Principles, 9th edition, Weygandt/Kieso/Kimmel, John Wiley
& Sons Inc., ISBN: 978-0-470-31754-9 and Computer
Accounting, with Peachtree Complete Peachtree 2011, 15th edition, ISBN:
978-0-07-750503-5
INSTRUCTIONAL METHODOLOGY: The objectives of this course will be met by incorporating a variety of instructional methods. These may include lecture, class exams and quizzes, group activities and project, student presentations, class problem-solving, written analysis, spreadsheet, word processing and power point activities, the use of accounting software and online activities and research.
METHOD OF PRESENTATION: Three-hour lecture/discussion each week. Three lab hours each week.
COURSE REQUIREMENTS: See specific Instructor's First Day Class Handout.
OTHER: Basic computer skills utilizing word processing and spreadsheet are recommended for ACCT 1403.
Grade System:
|
Activity |
Number |
Pts Each |
Total |
Percent |
Points |
Grade |
||
|
Exams - Accounting Text |
4 |
100 |
400 |
62% |
582 |
to |
650 |
A |
|
Assignments - Text (34 drop
4) |
30 |
3 |
90 |
14% |
517 |
to |
581 |
B |
|
Quizzes (10 drop two) |
8 |
10 |
80 |
12% |
452 |
to |
516 |
C |
|
Peachtree Exercises |
7 |
5 |
35 |
5% |
390 |
to |
451 |
D |
|
Peachtree Exam |
1 |
45 |
45 |
7% |
Below |
|
390 |
F |
|
TOTAL |
|
|
650 |
100% |
||||
COURSE POLICIES
Attendance Policies: 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.
Withdrawal Policy: XXXXXth is the last day to withdraw from this class
and receive a grade of “W”. If you wish to withdraw, complete a withdrawal slip
and turn it into the admission’s office. Do
not assume I will withdraw you.
Make-up exam policy – You must
contact me within one week after the missed exam to schedule an exam in the
testing center. If you have not taken the exam within one week from the
scheduled exam date 15 points will be deducted from your exam grade for each
class meeting date until the exam is taken. There is no curve available for the
make-up exams. Only one make-up exam may be taken during the semester. The
make-up exam may consist entirely of multiple-choice questions and cover any
topics included in the chapters – not just the topics listed on the exam review
sheet. If there is a conflict, you may take an exam early with no penalty.
Please discuss this with me as soon as you are aware of a conflict.
Due Dates: To receive credit all exams,
quizzes, homework, projects and or other assignments are due on or before the
dates as specified in the course outline/calendar located on the current
syllabus. No late exams, quizzes, homework, projects or other assignments will
be accepted. There is no make-up work and no extra credit work.
Incomplete Policy: An instructor may award a grade of “I” (Incomplete) if
a student was unable to complete all of the objectives for the passing grade in
a course. An incomplete grade cannot be carried beyond the established date in
the following semester. The completion date is determined by the instructor but
may not be later than the final deadline for withdrawal in the subsequent semester. Incomplete grades are
given only on rare occasions.
The purpose of this grade is for an emergency, or other serious considerations,
which 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 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.
Student Rights and Responsibilities: Students at the college have the rights accorded by
the U.S. Constitution to freedom of speech, peaceful assembly, petition, and
association. These rights carry with them the responsibility to accord the same
rights to others in the college community and not to interfere with or disrupt
the educational process. Opportunity for students to examine and question
pertinent data and assumptions of a given discipline, guided by the evidence of
scholarly research, is appropriate in a learning environment. This concept is
accompanied by an equally demanding concept of responsibility on the part of
the student. As willing partners in learning, students must comply with college
rules and procedures.
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.
ACC Email Policy:
All College e-mail communication to students will be sent solely to the
student’s ACCmail account, with the expectation that such communications will
be read in a timely fashion. ACC will send important information
and will notify you of any college related emergencies using this account.
Students should only expect to
receive email communication from their instructor using this account. Likewise,
students should use their
ACCmail account when communicating with instructors and staff. Instructions for
activating an ACCmail
account can be found at http://www.austincc.edu/accmail/index.php.
Testing Center
Policy: Under certain circumstances, an instructor may have students
take an examination in a testing center.
Students using the Academic Testing Center must govern themselves according to
the Student Guide for
Use of ACC Testing Centers and should read the entire guide before going to
take the exam.
Student and Instructional Services: ACC strives to provide exemplary support to its students and
offers a broad variety of opportunities and services. Information on these
services and support systems is available at: http://www.austincc.edu/s4/
Links to many student services and other information can be
found at: http://www.austincc.edu/current/
ACC Learning Labs provide free tutoring services to all ACC
students currently enrolled in the course to be
tutored. The tutor schedule for each Learning Lab may be
found at: http://www.autincc.edu/tutor/students/tutoring.php
For help setting up your ACCeID, ACC Gmail, or ACC
Blackboard, see a Learning Lab Technician at
any ACC Learning Lab.
Grade Change Policies: Click on this
link to view the policy. (See Student Handbook: www.austincc.edu/handbook/policies2.htm)
http://www.austincc.edu/withdraw/conseq_and_resources/onepage.htm
Student
and Instructional Services: http://www.austincc.edu/cataloghtml/services.php
Always
refer to the instructor’s current syllabus for course evaluation, contact
information, and course outline/calendar.
COURSE LEARNING OUTCOMES
Upon successful completion of this course, you should be able to:
LEARNING OBJECTIVES:
Chapter 1
1. Explain what accounting is.
2. Identify the users and uses of accounting.
3. Understand why ethics is a fundamental business concept.
4. Explain generally accepted accounting principles and the cost principle.
5. Explain the monetary unit assumption and the economic entity assumption.
6. State the accounting equation, and define assets, liabilities, and owner’s equity.
7. Analyze the effects of business transactions on the accounting equation.
Chapter 2
1. Explain what an account is and how it helps in the recording process.
2. Define debits and credits and explain their use in recording business transactions.
3. Identify the basic steps in the recording process.
4. Explain what a journal is and how it helps in the recording process.
5. Explain what a ledger is and how it helps in the recording process.
6. Explain what posting is and how it helps in the recording process.
7. Prepare a trial balance and explain its purposes.
Chapter 3
1. Explain the time period assumption.
2. Explain the accrual basis of accounting.
3. Explain the reasons for adjusting entries.
4. Identify the major types of adjusting entries.
5. Prepare adjusting entries for deferrals.
6. Prepare adjusting entries for accruals.
7. Describe the nature and purpose of an adjusted trial balance.
Chapter 4
1. Prepare a worksheet.
2. Explain the process of closing the books.
3. Describe the content and purpose of a post-closing trial balance
4. State the required steps in the accounting cycle.
5. Explain the approaches to preparing correcting entries.
6. Identify the sections of a classified balance sheet.
Chapter 5
1. Identify the differences between service and merchandising companies.
2. Explain the recording of purchases under a perpetual inventory system.
3. Explain the recording of sales revenues under a perpetual inventory system.
4. Explain the steps in the accounting cycle for a merchandising company.
5. Distinguish between a multiple-step and a single-step income statement.
6. Explain the computation and importance of gross profit.
7. Determine cost of goods sold under a periodic system.
Chapter 6
1. Describe the steps in determining inventory quantities.
2. Explain the accounting for inventories and apply the inventory cost flow methods.
3. Explain the financial effects of the inventory cost flow assumptions.
4. Explain the lower-of-cost-or-market basis of accounting for inventories.
5. Indicate the effects of inventory errors on the financial statements.
6. Compute and interpret the inventory turnover ratio.
7. Apply the inventory cost flow methods to perpetual inventory records.
Chapter 7
1. Identify the basic concepts of an accounting information system.
2. Describe the nature and purpose of a subsidiary ledger.
3. Explain how companies use special journals in journalizing.
Chapter 8
1. Define internal control.
2. Identify the principles of internal control.
3. Explain the applications of internal control principles to cash receipts.
4. Explain the applications of internal control principles to cash disbursements.
5. Describe the operation of a petty cash fund.
6. Indicate the control features of a bank account.
7. Prepare a bank reconciliation.
8. Explain the reporting of cash.
Chapter 9
1. Identify the different types of receivables.
2. Explain how companies recognize accounts receivable.
3. Distinguish between the methods and bases used to value accounts receivable.
4. Describe the entries to record the disposition of accounts receivable.
5. Compute the maturity date of and interest on notes receivable.
6. Explain how companies recognize notes receivable.
7. Describe how companies value notes receivable.
8. Describe the entries to record the disposition of notes receivable.
9. Explain the statement presentation and analysis of receivables.
Chapter 10
1. Describe how the cost principle applies to plant assets.
2. Explain the concept of depreciation.
3. Compute periodic depreciation using different methods.
4. Describe the procedure for revising periodic depreciation.
5. Distinguish between revenue and capital expenditures, and explain the entries for each.
6. Explain how to account for the disposal of a plant asset.
7. Compute periodic depletion of natural resources.
8. Explain the basic issues related to accounting for intangible assets.
9. Indicate how plant assets, natural resources, and intangible assets are reported.