AC 201 Principles of Accounting I
F1T 2010 DLG
Prazak, Deborah A.
Masters of Business Administration- Upper Iowa UniversityBachelors of Business Administration (Accounting)- Boise State UniversityAssociate of Arts- Iowa Central Community College
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8/16/10 - 10/10/10
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Learning Outcomes: Core Learning Outcomes
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 RubricClass Assessment:
Seven weekly quizzes
Three mid-term exams
Comprehensive final exam
Quizzes: Seven, 100 points each; weighted at 10% of the final grade
Mid-term exams: Three, 100 points each; weighted at 15% or 45% total of the final grade
Discussion/Participation: 20 points per week; weighted at 15% of the final grade
Final Exam: 100 points; weighted at 30% of the final grade
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 work is not accepted without prior permission from the instructor. Failure to take a final proctored exam will result in an automatic "F" in the class.
Classroom Rules of Conduct:
On-Line Participation: Students are expected to post four days per week. Posts must include substantive discussion for participation credit- "I agree" does not count as substantive. The class week is defined as Monday through Sunday. Students are encouraged to respond to any discussion topic; however, there should be no personal comments/attacks- stick to the facts.
Discuss the importance of accounting to business organizations and ethics in accounting; review accounting in the information age and discover how financial statements are used by business. Recognize and memorize the "accounting equation" as the foundation of all accounting. Apply transaction analysis to the accounting equation, interpret and record business transactions.
Read Chapters 1 & 2 and review the Powerpoint presentations for each chapter. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz one and send via dropbox.
Discuss the importance of periodic reporting and the time principle, learn about accrual accounting, identify the types of adjustments and their purposes, compute profit margin, prepare and explain adjusting entries. Timing of reports, the need to adjust accounts, and the adjusted trial balance are also discussed.
Read Chapter 3 and review the Powerpoint presentation. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz two and send via dropbox.
Complete exam one and send via dropbox.
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, learn about perpetual and periodic inventory systems and prepare income statements.
Read Chapter 4 & 5 and review the Powerpoint presentations. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz three and send via dropbox.
Understand 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.
Read Chapter 6 and review the Powerpoint presentation. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz four and send via dropbox.
Complete exam two and send via dropbox.
Discuss and understand the concepts of internal control, explain cash and cash equivalents and prepare a bank reconciliation.
Read Chapter 8 and review the Powerpoint presentation. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz five and send via dropbox.
Discuss the concept of receivables and how they are considered liquid assets, describe the reporting of receivable and of uncollectible accounts, the reporting of notes receivable and the computation of maturity and interest, explain accounting for long term assets and intangible assets and depreciation.
Read Chapters 9 & 10 and review the Powerpoint presentations. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz six and send via dropbox.
Complete exam three and send via dropbox.
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.
Read Chapter 11 and review the Powerpoint presentation. Complete problems in the homework thread and compare results with the self evaluation thread.
Complete quiz seven and send via dropbox.
Preparation for the final exam. No new material will be presented.
FINAL EXAM IS PROCTORED. Please review the instructions regarding proctored exams.
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 students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2010-2011 Undergraduate Catalog Page 92
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. from Park University 2010-2011 Undergraduate Catalog Page 92-93
Attendance Policy:Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.
Park University 2010-2011 Undergraduate Catalog Page 95-96
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:8/3/2010 7:47:34 PM