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AC 202 Principles of Accounting II
Strickland, Michelle 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 202 Principles of Accounting II

Semester

F2T 2008 DLB

Faculty

Strickland, Michelle A.

Title

Adjunct Faculty

Degrees/Certificates

BSBA, MBA
Certified Defense Financial Manager

Office Location

Colorado Springs CO

Office Hours

By appointment

Daytime Phone

719-963-4863

Other Phone

FAX 443-593-1296

E-Mail

michelle.strickland@pirate.park.edu

Semester Dates

20 Oct - 14 Dec 08

Class Days

Online

Class Time

Online

Prerequisites

AC201

Credit Hours

3


Textbook:

Fundamental Accounting Principles ,18th Edition;  Author: Larson, Wild and Chiapetta

Order Texts at: http://direct.mbsbooks.com/park.htm

The text is a standard text used in numerous universites and treats the topic of introductory accounting in great detail. A knowledge of Excel is helpful, but is not required for this course.

IMPORTANT NOTE:  In previous terms, many students have tried alternative means of acquiring their textbooks, either through cut-rate bookstores or on-line sales outlets.  I have found that these often end in disappointment...either the wrong book is received or it takes too long to reach you.  Please be aware that you MUST have your text by the end of week 1 - if you don't have it by then, you won't be able to catch up your coursework.  Whatever method you choose to get your book, just ensure you have it.  If you begin the course late, it would be in your best interest to have the book shipped overnight.  Being prepared with the required materials is part of your responsibility as a student.  

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/.
Advising - Park University would like to assist you in achieving your educational goals. Please contact your Campus Center for advising or enrollment adjustment information.
Online Classroom Technical Support - For technical assistance with the Online classroom, email helpdesk@parkonline.org or call the helpdesk at 866-301-PARK (7275). To see the technical requirements for Online courses, please visit the http://parkonline.org website, and click on the "Technical Requirements" link, and click on "BROWSER Test" to see if your system is ready.
FAQ's for Online Students - You might find the answer to your questions here.


Course Description:
A continuation of the 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.  Prerequisite:  AC201.

Educational Philosophy:
The instructor's educational philosophy is one of interactiveness based on lectures, readings, quizzes, dialogues, examinations, internet, web sites and writings.

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare retained earnings and equity changes for a corporation.
  2. Prepare manufacturing and process cost summaries.
  3. Prepare budgets.
  4. Compute financial ratios and analyze corporation financial statements.
  5. Compile and interpret statements of cash flows (indirect method.)
  6. Compute and record corporate dividends declared by the Board of Directors.


  Instructor Learning Outcomes
  1. Explain the importance of accounting to business organizations and ethics in accounting.
  2. Explain accounting in the information age and how financial statements are used by businesses.  Apply transaction analysis to the accounting equations.
  3. Explain the concept of double entry accounting, postings, ledgers and trial balances. Interpret and record transactions.
  4. Evaluate the closing process, including procedures and the use of a post closing trial balance.  Develop worksheets to aid in preparing financial statements.
  5. Account for merchandising activities, including purchases, sales transactions and adjustments.
  6. Understand the methods used for accounting for inventory.  Analyze the effects of inventory on both financial and tax reporting.
  7. Review the concepts of an accounting information system.  Explain the fundamental systems principles, the systems components, use of special journals and subsidiary ledgers.
  8. Explain the concepts of internal control and the analysis of cash.
  9. Explain the concept of receivables and how they are considered liquid assets.  Describe the reporting for them and the reporting of the uncollectible amounts.
  10. Explain and develop the accounting for long term assets and intangible assets.  Allocate the cost of the asset to the periods benefitting from the asset.
  11. Understand how to identify, compute, record and report current liabilities in the financial statements.
Core Assessment:

The final exam for AC 202 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 for Corporations, Long Term Liabilities and Investments or International Operations. The second problem will cover Cash Flows, Financial Statement analysis or Managerial Concepts. The third problem will address Job Order Costing, Process Costing or Cost Allocation. The last two problems address issues of Cost-Volume-Profit Analysis, Master Budgets or Flexible Budgets and Standard Cost. Partial credit will be given for the problems.

Link to Class Rubric

Class Assessment:

Weekly quizzes
 
Participation in weekly discussions.

Bi-weekly tests with final exam in week 8.  Final exam is closed book, closed notes and must taken in order to pass the class.  Final course grades will be determined based upon the weighted grade scale below.

Grading:

Course Grading Scale

Graded Work Quizzes -  10%  (4 multiple Choice questions and 1 problem)

Hour Exams - 60%  (10 multiple Choice questions and 3 problems)

Final Exam - 30%   (10 multiple choice questions and 5 problems)

Total Grade - 100%

A = 90- 100%

B = 80-89%  

C = 70-79%  

D = 60-69%  

F = less than 60%  

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:
Submission of Late Work:  Late work is not accepted without prior permission from the instructor. Failure to take a final proctored exam will result in an automatic "F" grade.
 
It is the student's responsibility to ensure work posted to the dropbox is properly sent.  Students must check their outbox to ensure posting was successful and that the correct assignment was sent.  Incorrect postings result in a zero grade for that submission--no exceptions.

Classroom Rules of Conduct:

On-Line Participation: This course is offered on-line, over the Internet, using the eCampus computer service. Students are expected to devote a minimum of five hours per class week logged on to the computer conferencing system - the same amount of time you'd spend in the physical classroom.  In addition, you'll be spending several hours a week on homework.  See "On-line Course Policies" below for additional information.

A class week is defined as the period of time between Monday and Sunday. The first week begins the first day of the semester and ends midnight the following Sunday. Assignments scheduled for completion during a class week should be completed by the Sunday that follows the end of the week assigned. Writing assignments and formal papers should be completed and successfully submitted so that they are in my hands on the due date. NOTE: Because this is an online course designed to get feedback on assignments to you directly via Internet, you must make prior arrangements with me before submitting a paper via fax or the postal service. If you ever have problems transmitting your assignments to me, telephone or email me immediately, and we'll get the problem solved.

Homework: Homework (consisting of weekly quizzes and bi-weekly exams) must be submitted not later than the Sunday that follows the end of the week assigned. Late homework will not be accepted without prior permission from the instructor.  Incorrect postings to the dropbox are treated as late homework and will not be given extensions for resubmission.

Final Exam: An examination must be taken in person at one of the Park University sites around the country or at an alternative location approved by the college where Park University sites are not available. See the thread in the conference for more details. It will be the responsibility of the student to arrange for a proctor who will be accepted and approved by the instructor. Park University site administrators or adjunct faculty are preferred, but K-12 school officials or senior personnel at the place of employment are usually acceptable. Excluded from approval as proctors shall be family members, neighbors, friends, and immediate supervisors.

 ·         Be sure to indicate the proctor's relationship to you in the space provided in the form. What this means is for you to indicate how the proctor qualifies as a proctor. The relationship to student line should say something like "instructor at XYZ College" or "senior manager at ZYX Company".

·         For these proctored examinations, photo identification is required.

·         A proctor information form will be provided.

·         If you are unable to make arrangements with someone who meets these criteria, contact the instructor for acceptable alternatives.

·         A proctor with an official email address is required (no dot coms). The final exam will not be faxed, but emailed to your proctor.  

Students are responsible for clicking on the link below and thoroughly reading each Online course policy. If you have questions about any of these policies, please contact your instructor for clarification.

http://captain.park.edu/portal/online_course_policies.htm

Course Topic/Dates/Assignments:

During Week 1, we will discuss the corporate form and how to account for this entitiy. The accounting for the equity transactions are very important and must be analyzed to report income, earnings per share and retained earnings. The student must also be able to account for and analyze bonds and notes. The characteristics, payment patterns, interest computations, retirement, and reporting requirements will all be discussed.

Week 1 Readings: Read Chapters 13 and 14

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapters 13 & 14

During Week 2, we will learn how to identify, account for, and report investments in both equity and debt securities. The student should gain an understanding of foreign exchange rates and decscribe accounting for transactions listed in a foreign currency.

Week 2 Readings: Chapter 15.

Review Lecture Notes posted.

Review Powerpoint Presentations for Chapter 15

During Week 3, we'll learn about the importance of cash to a business and the need to continually monitor and analyze the inflows and outflows of cash. The absence of cash is normally known as bankruptcy. Also, manangers must be able analyze their financial statments and use the results to better manage their operations. This week also introduces the standards for analyzing financial statements using ratios as the basis.

Week 3 Readings: Chapter 16 & Chapter 17

Review Lecture Notes posted.

Review Powerpoint Presentations for Chapters 16 & 17

During Week 4, we will turn our attention to Managerial Accounting, which is a change from the financial accounting we have been studying. This form of accounting uses the same information, but presents it to management for decision making purposes. It's also accounting without formal structure and serves the needs of the internal user of accounting information. Job order accounting is one subset that attempts to use the information to determine the cost of a particular product, where the products are not identical. We'll discuss both of these forms this week.

Week 4 Readings: Chapters 18 & 19

Review Lecture Notes posted.

Review Powerpoint Presentations for Chapters 18 & 19

During Week 5, we'll focus on the concepts of processes and the costing of these processes. Processs costing is used when the products are identical and usually low in value. The key concept is the use of equivalent units to determine the unit cost when there are unfinished goods at the end of the period. We'll discuss the concept of cost allocation and activity based costing. We will also review management reports that are useful in directing the company's activities. Responsibility accounting stresses the need to hold managers accountable for the cost they control.

Week 5 Readings: Chapters 20 & 21

Review Lecture Notes posted.

Review Powerpoint Presentations for Chapters 20 & 21

During Week 6, we will examine the relationship of cost to volume and how it affects profit. Information on both costs and sales behavior is useful to managers in performing cost-volume-profit analysis. This is used to support sound business decisions.

Week 6 Readings: Chapter 22

Review Lecture Notes posted.

Review Powerpoint Presentations for Chapter 22

During Week 7, we'll learn Information regarding the importance of budgeting and the value of the master budget to the planning of future business activities.
 
Week 7 Readings: Chapters 23 & 24
 
Review Lecture Notes posted.

Review Powerpoint Presentations for Chapters 23 & 24

During Week 8, we will culminate our intense weeks of learning into preparation for the final exam. No new material will be presented. NOTE: Remember this last exam is a proctored one. Review the Syllabus instructions regarding proctored exams. Additional instructions will be posted online by your instructor.

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.
ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

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
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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
2,3,4,5,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
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
1                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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
5                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
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 cash flow 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 cash flow 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 cash flow 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 cash flow statements

Question 20

Less than 50%

 
Technical Skill in Communicating written essay                                                                                                                                                                                                             
Outcomes
4,6                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
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 202 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 202 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 202 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 202 to assist them in performing their job functions or enhancing their accounting knowledge

Overall Score

Less than 50%

 

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Last Updated:10/6/2008 8:03:52 PM