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AC 201 Principles of Accounting I
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 201 Principles of Accounting I

Semester

F2T 2009 DLD

Faculty

Strickland, Michelle A.

Title

Senior Adjunct Instructor

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

19 Oct - 13 Dec 09

Class Days

Online

Class Time

Online

Credit Hours

3


Textbook:

Fundamental Accounting Principles ,19th Edition w/Best Buy Supplement;  Author: Wild, Shaw and Chiapetta
ISBN:  13-9780077303204 

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:
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 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. 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.


  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 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:

Weekly quizzes
 
Weekly discussions

Bi-weekly tests with final exam in week 8

Grading:

Course Grading Scale

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

Weekly Discussions - 10% (2-3 discussion questions per week)
Hour Exams - 50%  (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 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.

Late Submission of Course Materials:
Submission of Late Work: Late work is not accepted without prior permission from the instructor.  This includes items posted to the "Dropbox" and those emailed.  Be extremely careful in submitting your attachments to the dropbox...ensure you post the right document.  Incorrect postings will be treated as late homework and will result in a zero grade for that assignment.   There will be no extensions for incorrect postings.  You are responsible for ensuring you post the correct work, in the correct format, and by the deadlines or the zero will result.

Failure to take a final proctored exam (or submit your final project for some online graduate courses) will result in an automatic "F" grade.

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 (in the form 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 importance of accounting to business organizations and ethics in accounting, review accounting in the information stage and learn how financial statements are used by business. We'll recognize and memorize the “accounting equation” as the foundation of all accounting. We'll apply transaction analysis to the accounting equation, interpret and record business transactions.

Week 1 Readings: Read Chapters 1 and 2
Review Lecture Notes posted.

Review Powerpoint Presentations for Chapters 1 & 2

During Week 2, we will discuss the importance of periodic reporting and the time period principle, learn about accrual accounting, identify the types of adjustments and their purpose, compute profit margin, and prepare and explain adjusting entries Students should be able to explain the timing of reports and the need to adjust accounts. Adjusting accounts is important for recognizing revenues and expenses in the proper period. The adjusted trial balance is described and how it is used to prepare financial statements.

Week 2 Readings: Chapter 3.

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapter 3

During Week 3, we'll learn why temporary accounts are closed each period, evaluate the closing process, including procedures and the post closing trial balance, develop worksheets to aid in the preparation of financial statements, account for merchandising activities, including purchases, sales transactions and adjustments. In addition, we'll learn about both perpetual and periodic inventory systems and prepare multiple and single step income statements.

Week 3 Readings: Chapter 4 & Chapter 5

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapters 4 & 5

During Week 4, we will turn our attention to understanding the methods used for accounting for inventory, analyze the effects of inventory on both financial and tax reporting, compute the lower of cost or market amount of inventory. We'll learn how to explain the concepts of an accounting information system, the fundamental systems principles, the systems components, use of special journals and subsidiary ledgers.

Week 4 Readings: Chapter 6 & Chapter 7

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapters 6 & 7 

During Week 5, we'll focus on the concepts of internal control, explain cash and cash equivalents and prepare a bank reconciliation.

Week 5 Readings: Chapter 8

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapter 8

During Week 6, we will examine the concept of receivables and how they are considered liquid assets, describe the reporting for them and the reporting of the uncollectible accounts, as well as a note receivable and the computation of its maturity date and interest. Then we'll learn how to explain and develop the accounting for long term assets and intangible assets and depreciation (including the factors affecting its computation.)

Week 6 Readings: Chapter 9 Chapter 10

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapters 9 & 10

During Week 7, we'll learn how to identify, compute, record and report current liabilities in financial statements, explain how to account for contingent liabilities and discover how to compute the payroll for a business.

Week 7 Readings: Chapter 11

Review Lecture Notes posted.
Review Powerpoint Presentations for Chapter 11

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 2009-2010 Undergraduate Catalog Page 92

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 2009-2010 Undergraduate Catalog Page 95

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:10/4/2009 9:21:48 PM