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AC 201 Principles of Accounting I
Lampton, Jolene A.


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

S1A 2009 BE

Faculty

Lampton, Jolene A.

Title

Assistant Professor of Management and Accounting

Degrees/Certificates

Ph.D. Higher Education; MBA (specialization in finance); BSE in Business Education
CPA (licensed in both Texas and Missouri); Certified Grant Specialist

Office Location

Austin Campus

Office Hours

Tuesday and  Thursday 3 - 5 and Monday or Wednesday before or after class  or upon appointment

Daytime Phone

512-385-7275 (office)

Other Phone

512-338-8155 (home)

E-Mail

jolene.lampton@park.edu

jlampton@att.net

Semester Dates

January 12 - March 8, 2009

Class Days

Monday/Wednesday

Class Time

5:10 p.m. - 7:50 PM

Prerequisites

CS140

Credit Hours

3


Textbook:

Fundamental Accounting Principles 18th edition by Wild, Larson, and Chiappettta
 
Published by McGraw-Hill Irwin

Textbooks can be purchased through the MBS 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:
AC201 Principles of Accounting I: 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:
Instructor will get you through Accounting - if you do your part.  It is the responsibility of the student to read the chapters, view the powerpoints, prepare for class . . . participate in class . . . study for exams . . . AND TO SEEK help from the instructor either by phone, email, or appointment.  The instructor will make time for each student as needed.  This class is a participatory class in which both parties have an obligation.

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:

Tests, homework, attendance and participation, research project.

Grading:

Points will be accumulated as follows:
 
Homework - 5 assignments @ 20 points each                  100 points
2 Tests @ 100 points each                                               200 points
Attendance and participation                                            100 points
Research Article                                                              100 points
Final Exam                                                                       300 points
 
Total Points                                                                     800 points
 
90% A; 80% B; 70% C; 60% D

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:
Upon permission of instructor.

Classroom Rules of Conduct:
Professional demeanor expected.

Course Topic/Dates/Assignments:

#1 Chapter 1 Accounting for Business
     Exercises 1-1, 1-2, 1-6, 1-7, 1-10
     Problems 1-1A, 1-2A, 1-3A, 1-4A, 1-5A, 1-7A
 
 #2 Chapter 2 Analyzing & Recording Transactions
     Exercises 2-1, 2-2, 2-4
     Problems 2-1A, 2-3A, 2-4A
 
#3 Chapter 3 Adjusting Accounts and Preparing Financial Statements
     Exercises 3-1, 3-2, 3-4
     Problems 3-1A, 3-3A
 
 #4 Chapter 4 Completing the Accounting Cycle
      Exercises 4-1, 4-2
      Problems 4-2A, 4-3A, 4-5A
 
#5 Test 1 Chapters 1 - 4
 
     Chapter 5 Accounting for Merchandising Operations
     Exercises 5-1, 5-4, 5-5
 
#6  Problems 5-1A, 5-3A
    
     Chapter 6 Inventories and Cost of Sales
     Exercises 6-1, 6-3, 6-5
    
#7 Problems 6-1A
     Chapter 7 Accounting Information Systems
     Exercises 7-1, 7-3, 7-4
      
#8  Problems 7-1A, 7-4A
     Chapter 8 Cash and Internal Controls
     Exercises 8-1, 8-2, 8-3, 8-4, 8-6
      
#9 Problems 8-2A, 8-4A
 
     Chapter 9 Accounting for Receivables
     Exercises 9-1, 9-2
    
 
#10  Problem 9-1A, 9-2A
      Test (Chapters 5 - 8)
    
 
#11 Chapter 10 Plant Assets, Natural Resources, and Intangibles
      Exercise 10-1, 10-2, 10-4
      Problems 10-1A, 10-2A, 10-4A
 
#12 Chapter 11 Current Liabiltiies and Payroll Accounting
       Exercises 11-1, 11-2
       Problems 11-1A, 11-4A, 11-5A
    
 #13 Chapter 12 Accounting for Partnerships
       Exercises 12-1, 12-3
       Problems 12-1A, 12-2A
 
#14 Review for Final
     
     
#15 ARTICLE SUMMARY AND PRESENTATION
 
As a writing assignment and presentation for AC201, 100 points for the following:
 
Select article of your choice from Journal of Accountancy magazine during the last year.
 
Copy article; submit as an appendix.
 
Summarize the article in a 2-page report due on the last day of class.  If you copy anything directly from the article, footnote it in accordance with APA or MLA style.
 
Present a talk about your article that is 3 - 5 minutes to be presented during Week 8.  you may simply talk in leading the discussion or you may present a powerpoint presentation.  your grade will be based on 100 points possible.  You should select an article that is appropriate for AC201 - something that is of interest to you.
 
Written Summary:  40 points
Oral Presentation:  40 points
Selection of Article 20 points
 
Total                      100 points
 
#16 Final Exam - Closed Book - Chapters 1 - 12
 

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%
 

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Last Updated:12/8/2008 11:00:54 AM