AC 202 Principles of Accounting II
F2T 2008 DLB
Strickland, Michelle A.
BSBA, MBACertified Defense Financial Manager
Colorado Springs CO
20 Oct - 14 Dec 08
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
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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
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 RubricClass Assessment:
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.
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.
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.
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
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.
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
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
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
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.
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.
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 .
Last Updated:10/6/2008 8:03:52 PM