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AC 201 Principles of Accounting I
Atwater, Justin J.


Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course

AC 201 Principles of Accounting I

Semester

S2QQ 2009 HI

Faculty

Atwater, Justin J.

Title

Adjunct Faculty

Degrees/Certificates

Bachelor of Accountancy - Brigham Young University
Masters of Accountancy - Brigham Young University
Juris Doctorate - University of Utah

Office Hours

By Appointment

Daytime Phone

801-913-0258

E-Mail

justin.atwater@park.edu

jatwater@djplaw.com

Semester Dates

03/16/09 - 05/10/09

Class Days

-T-R---

Class Time

7:30 - 10:15 PM

Credit Hours

3


Textbook:

Fundamental Accounting Principles 
   Author: Wild, John J. / Larson, Kermit D. / Chiappetta, Barbara
   Edition:  19TH 08
   ISBN: 0-07-327110-1
   Publisher: Richard D. Irwin, Inc.

 

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


Course Description:

Introduction to financial accounting, including the concepts, procedures and terminology of modern accounting. Generally accepted accounting principles will be discussed and applied to various business concerns. 3:0:3

Educational Philosophy:
The study of accountancy naturally lends itself to hands on real-world application.  We will explore basic financial accounting concepts through in-class problem solving, group interaction, lectures and in-class discussion.  Students will devote out-of-class time to reading and solving sample problems and be prepated to engage in classroom disussion.  Students will demonstrate their mastery of the subject through quizess and examinations.

Learning Outcomes:
  Core Learning Outcomes

  1. Record the purchase of assets.
  2. Prepare adjusting journal entries.
  3. Prepare financial statements from an adjusted trial balance.
  4. Prepare closing journal entries.
  5. Write off bad debts of customers.
  6. Compute and record depreciation expense.


Core Assessment:

The final exam for AC 201 will be the assessment tool used for this course. The exam will be comprehensive and the grade used to determine competency levels achieved by the students. The exam will be closed book and closed notes. The exam consist of 10 multiple choice questions covering the chapter readings in the course and five problems that examine the critical thinking, effective communication skills and technical skills of the student. The first problem will address Accounting in Business, Analyzing and Recording Transactions, and Adjusting Accounts and Preparing Financial Statements. The second problem will address Completing the Accounting Cycle, Accounting for Merchandising Operations and Inventories and Cost of Sales. The third problem will address Accounting Information Systems and Cash and Internal Controls. The last two problems address issues of Accounting for Receivables, Plant Assets and Current Liabilities and Payroll Accounting. Partial credit will be given for the problems.

Link to Class Rubric

Class Assessment:

  • 3 Examinations - 2 Midterms and Final
  • 5 Quizzes - Randomly throughout term
  • 10 Assignments/Homework - Randomly throughout term
  • In-class participation/discussion
  • Grading:

    • 3 Examinations 
                   Midterm Exam 1 - 200 points 
                   Midterm Exam 2 - 200 points     
                   Final Exam -   300 points
    • 5 Quizzes - 20 points each/100 points total
    • 10 Assignments/homework - 10 points each/100 points total
    • In-class participation/discussion - 100 points

    The following will be used to assign letter grades

                            90-100 ………………….A

                            80-89…………………….B

                            70-79…………………….C

                            60-69…………………….D

                            Below 60..……………….F

    The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

    All final exams in all School of Business and Management courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business and Management.

    Late Submission of Course Materials:
    • Examinations: no late submission will be allowed unless prior arrangement is made with the instructor or in extenuating circumstances.
    • Quizzes: no late submission will be allowed.  Quizzes will be administered randomly throughout the term.  If a student is not in attendance on a day a quiz is administered, no make-up will be permitted.  Students will be allowed to drop the two lowest quiz scores.
    • Assignments/Homework: assignments may be submitted late with a 5 point penalty for each week for which a given assignment is late.

    Classroom Rules of Conduct:
    Each student is expected to attend every class unless excused.  Students are expected to come prepared to engage in classroom discussion and participate in real-world scenarios.  Distractions will not be allowed.  To foster a learning atmosphere, all distruptive students will be asked to leave.

    Course Topic/Dates/Assignments:

     March 17- Chapter 1 Accounting in Business

    a.       Read: Chapter 1

    b.      Homework: 1-7A

    2.      March 19 - Chapter 2 Analyzing Transactions

    a.       Read: Chapter 2

    b.      Homework: 2-3A

    3.      March 24 – Chapter 3 Adjusting Entries and Financial Statements

    a.       Read: Chapter 3

    b.      Homework: 3-2A

    4.      March 26 – Chapter 4 Completeing the Accounting Cycle

    a.       Read: Chapter 4

    b.      Homework: 4-5A

    5.      March 31 – Midterm Exam #1 (200 points)

    a.       Preparation: Review Chapters 1-4, Homework questions and quizzes

    6.      April 2– Chapter 5 - Merchendising
    a.       Read: Chapter 5
     
    b.      Homework: 5-4A

    April 7 - Chapter 6 - Inventory

    a.       Read: Chapter 6

    b.      Homework: 6-4A

    8.      April 9 - Chapter 7 – Accounting Systems

    a.       Read Chapter 7

                      b.      Homework: 7-1A
     
    April 14– Chapter 8 - Cash and Internal Controls

    a.       Read: Chapter  8

    b.      Homework: 8-4A

          April 16 – Chapter 9 - Short-Term Investments/Receivables

    a.       Read: Chapter 9

    b.      Homework: 9-3A

          April 21 – Chapter 10 - Long-Term Assets

    a.       Read: Chapter 10

    b.      Homework: 10-7A

          April 23 - Midterm Exam #2 (200 points)
          
                      a.   Preparation: Review Chapters 5-10, Homework questions and quizzes

    April 28– Chapter 11 - Current/Long-Term Liabilities

    a.       Read: Chapter 11

    b.      Homework: 11-2A

          April 30 – Chapter 12 - Partnerships

    a.       Read: Chapter 12

    b.      Homework: 12-1A

          May 7– Review for Final Exam

    a.       Read: Chapters 1-12; notes, homework, quizzes 

          May 9 – Final Exam (300 points)

    a.       Preparation: Review Chapters 1-12, Homework questions, and quizzes

    b.      *Note: The Final Exam is comprehensive.

    Academic Honesty:
    Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life.   Park University 2008-2009 Undergraduate Catalog Page 87

    Plagiarism:
    Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2008-2009 Undergraduate Catalog Page 87

    Attendance Policy:
    Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

    1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
    2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
    3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
    4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
    5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
    6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

    Park University 2008-2009 Undergraduate Catalog Page 89-90

    Disability Guidelines:
    Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .



    Rubric

    CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
    Evaluate and define accounting concepts identified by:                                                                                                                                                                                                     
    Outcomes
    1,2,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
    Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
    Q1, Q4, Q8, Q12, Q15
    100-80 %
     
    Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
    Q1, Q4, Q8, Q12, Q15
    60-79%
     
    Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
    Q1, Q4, Q8, Q12, Q15
    50-59%
     
    Evaluate and define the accounting transaction(s) in order to record, adjust or correct per Generally Accepted Accounting Principles
    Q1, Q4, Q8, Q12, Q15
    Less than 50%
     
    Synthesize data to produce a logical flow of informational reporting  per established accounting rules and standards                                                                                                                                       
    Outcomes
    1,2,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
    Assemble the correct and ethical accounting treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
    Q3, Q6, Q7, Q11, Q14
    100-80 %
     
    Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
    Q3, Q6, Q7, Q11, Q14
    60-79%
     
    Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
    Q3, Q6, Q7, Q11, Q14
    50-59%
     
    Assemble the correct and ethical accounting  treatment for given transactions in order to produce accurate financial statements per Generally Accepted Accounting Principles
    Q3, Q6, Q7, Q11, Q14
    Less than 50%
     
    Analysis of transactional data                                                                                                                                                                                                                             
    Outcomes
    1,2,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
    Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
    Q2, Q5, Q9, Q10, Q13
    100-80 %
     
    Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
    Q2, Q5, Q9, Q10, Q13
    60-79%
     
    Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
    Q2, Q5, Q9, Q10, Q13
    50-59%
     
    Analyze accounting transactions recorded in the book of original entry and adjust, record or post to prepare accurate financial statements per Generally Accepted Accounting Principles
    Q2, Q5, Q9, Q10, Q13
    Less than 50%
     
    Application of established rules and logic per regulatory and commercial standards                                                                                                                                                                         
    Outcomes
    3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
    Demonstrate and interpret accounting data and Trial Balance figures in order to produce accurate Balance Sheets and Income Statements per Generally Accepted Accounting Principles
    Q16, Q17, Q18
    100-80 %
     
    Demonstrate and interpret accounting data and Trial Balance figures in order to produce accurate Balance Sheets and Income Statements  per Generally Accepted Accounting Principles
    Q16, Q17, Q18
    60-79%
     
    Demonstrate and interpret accounting data and Trial Balance figures in order to produce accurate Balance Sheets and Income Statements  per Generally Accepted Accounting Principles
    Q16, Q17, Q18
    50-59%
     
    Demonstrate and interpret accounting data and Trial Balance figures in order to produce accurate Balance Sheets and Income Statements  per Generally Accepted Accounting Principles
    Q16, Q17, Q18
    Less than 50%
     
    Content of Communication written essay                                                                                                                                                                                                                     
    Outcomes
    3                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
    Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the  production of financial statements
    Question 20
    100-80 %
     
    Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the  production of financial statements
    Question 20
    60-79%
     
    Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the  production of financial statements
    Question 20
    50-59%
     
    Assess the student's ability to understand and communicate/ write the reasoning for knowledge acquired through out the course as it relates to the  production of financial statements
    Question 20
    Less than 50%
     
    Technical Skill in Communicating written essay                                                                                                                                                                                                             
    Outcomes
    6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
    Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
    Question 19
    100-80 %
     
    Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
    Question 19
    60-79%
     
    Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
    Question 19
    50-59%
     
    Demonstrate the knowledge and skill to evaluate, apply and discuss accounting solutions
    Question 19
    Less than 50%
     
    First Literacy Technical knowledge and application                                                                                                                                                                                                         
    Outcomes
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
    Student will demonstrate a basic accounting knowledge within the scope of AC 201 to assist them in performing their job functions or enhancing their accounting knowledge
    Overall Score
    100-80 %
     
    Student will demonstrate a basic accounting knowledge within the scope of AC 201 to assist them in performing their job functions or enhancing their accounting knowledge
    Overall Score
    60-79%
     
    Student will demonstrate a basic accounting knowledge within the scope of AC 201 to assist them in performing their job functions or enhancing their accounting knowledge
    Overall Score
    50-59%
     
    Student will demonstrate a basic accounting knowledge within the scope of AC 201 to assist them in performing their job functions or enhancing their accounting knowledge
    Overall Score
    Less than 50%
     

    Copyright:

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    Last Updated:2/19/2009 9:43:07 AM