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AC 201 Principles of Accounting I
Furnish, Cynthia C.


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

S1AA 2007 LC

Faculty

Furnish, Cynthia C.

Title

Assistant Professor of Management/Online Academic Director

Degrees/Certificates

PhD candidate- Business Administration emphasis: Public Sector
MBA  emphasis in Management
BAPA

Daytime Phone

210-657-6788

E-Mail

cindy.furnish@park.edu

cfurnish@satx.rr.com

cindy_furnish@yahoo.com

Semester Dates

15 January - 4 March 2007

Class Days

-----F-

Class Time

4:45 - 10:10 PM

Credit Hours

3


Textbook:
Wild, J. J.,   Larson, K. D.,   Chiappetta, B.  (2007) Fundamental Accounting Principles, 18th Ed.
McGraw-Hill Irwin:  Boston
ISBN: 0-07-299653-6

Textbooks can be purchased through the MBS bookstore

Additional Resources:
Online resources for this text will be used in computer lab during class time.

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:

This class will be geared on creating a positive environment conducive to learning at this Park University campus.  Professor's educational philosophy is based on the following attributes :

Excellence:  A strong belief that all students have a right to expect excellence in academic instruction.    By providing instruction using the latest, most up-to-date information, software and educational technologies, students must be prepared for today's field of Business .

Accessibility:  All serious students have a right to receive an opportunity for higher education, which promotes individual growth, professional development, and academic achievement.  All serious students should be provided an equal opportunities to receive resources that will motivate and assist them in defining and achieving their educational goals.

 Responsibility:  Each instructor is accountable to his/her students, the community, and to society for accomplishing its goals within the constraints of the University mission and mindful of its resources.

Professionalism:  Each instructor should serve as an example of professionalism for students  to follow.  The actions, speech, and values of each instructor should set a high standard within the academic community.

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 test examines each learning outcome with 20 questions. Eighteen multiple-choice questions will be based upon a distribution of critical thinking concepts applied to a learning outcome. Two questions will examine a communication/writing component. Each question will be weighted as 5 points. 

Link to Class Rubric

Class Assessment:

 Learning in this course will be assessed by:
 
Quizzes- to measure grasp of basic terminology
Class Exams- to measure processes that are being learned in this course
Review of Homework- an opportunity to go over individually accomplished work in accounting and understand why      mistakes were made.
Class Discussion- to demonstrate knowledge of assigned material.
Work in Computer Lab- to share understanding of concepts and ask questions of the professor informally.

Grading:

                                                        Method of Evaluation

 Final Examination

              200 pts

 Quizzes (7 @ 40 pts)

              280

 Class exams (3 @ 100)

              300

 Weekly participation

       HW completion (8@20) = 160

       Presentation of work, Preparation,

       Attendance (Wks 1-7@8)= 56

                           ( Wk 8   @4) =   4

              220

                               TOTAL

             1000 pts

 
Please note:
The comprehensive final is not a take-home test. The comprehensive final is a closed book and closed notes exam.  Students must pass the final exam with 60% or better to pass the course. 
 
However, the instructor reserves the right to curve any and all grades.

All final exams will be comprehensive and will be closed book and closed notes.  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 Associate Dean.

Late Submission of Course Materials:
 

You will be expected to submit all of your work on time. All assignments are as assigned, designated in this syllabus. Any assignment that is not turned in as required will be subject to a 20% deduction of point value each day until after day three when credit will no longer be given. 

Classroom Rules of Conduct:

 

Students must actively participate in classroom work, discussions relating to the subject materials, quizzes for the full length of each class, each week.  This class can be an enjoyable learning experience by each student fully participating and preparing to facilitate classroom discussion..   In an intensive, collaborative learning environment such as that of Park University, class attendance in any class which meets once per week is perhaps the most obvious requirement.   If you are not in attendance, you losse the opportunity to fully learn the material being introduced; and also lose credit of any tenent of the course as described in this syllabus..  As the instructor for the course, I will consider both necessary quantity of the work assigned and content of  that work.  Reading, analyzing, and responding to questions and problems assigned.  In preparation for class, your instructor is always assessible and will work with you to explain basics of the material.  Your instructor is however, not a tutor and if one is needed, each Park student may utilize the Smartthinking tutorial service provided to you free of charge. You are expected to work with your classmatesduring class time to review concepts presented.  This occasion for review and study is a necessary portion of each student's class time.  We will utilize the computer lab to allow access to study information supplied to be coupled with our class text.  Participation is of utmost importance although in the case of temporary duty, work requirements, or illness (all documented) your instructor will work with you to make sure you are familiar with required material.

Course Topic/Dates/Assignments:

(Chapters 1 and 2 should be read and studies before Class 1)
Week 1: Read Chapter 1 -Accounting in Business. and Chapter 2-Analyzing and Recording Transactions
Class work in Computer Lab
Quiz #1.
Week 2: Read Chapter 3-Adjusting Accounts and Preparing Financial Statements..
Review of Homework,
Quiz #2,
Work in Computer Lab,
Class Exam #1.
Class Week 3: Read Chapter 4-Completing the Accounting Cycle., and Chapter 5- Accounting for Merchandizing
Review of Homework.
Work in Computer Lab,
Quiz # 3.
Quiz Week 4: Read Chapter 6 -Inventories and Cost of Sales and Chapter 7-Accounting Information Systems,.
Review of Homework,
Quiz #4,
Work in Computer Lab,
Class Exam #2.
Class , Class>
Week 5: Read Chapter 8- Cash and Internal Controls,
Review of Homework
Work in Computer Lab,
Quiz #5.
Class ,
Week 6: Read Chapter 9-Accounting for Receivables, and Chapter 10- Plant Assets, Natural Resources, and Intangibles,
Review of Homework,
Quiz #5.
Work in Computer Lab,
Class Exam #3.
Class
Week 7: Read Chapter 11-Current Liabilities and Payroll Accounting,
Review of Homework.
Work in Computer lab,
Quiz # 7.
Class
Week 8: Hand in Homework,
Final Exam

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 2006-2007 Undergraduate Catalog Page 87-89

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 2006-2007 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 "W".
  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 2006-2007 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:12/25/2006 7:24:26 PM