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AC 201 Principles of Accounting I
Everett, Nancy B.


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 2010 DLF

Faculty

Everett, Dr. Nancy

Title

Senior Instructor

Degrees/Certificates

Ph.D. - University of Arizona
M.A. - Northern Arizona University
B.S. - Northern Arizona University

Office Location

On line

Office Hours

On-line any week day and occasional Sundays.

E-Mail

Nancy.Everett@pirate.park.edu

Semester Dates

October 18 through December  10, 2010

Class Days

TBA

Class Time

TBA

Credit Hours

3


Textbook:
Required Text: Fundamental Accounting Principles, 19th Edition Author:Larson, Wild and Chiapetta.  ISBN 13-9780077303204  The text is a standard text used in numerous universities and treats the topic of introductory accounting in great detail. A knowledge of Excel is helpful, but it is not required for this course.  Please be sure to purchase the "correct" book as homework is required from this edition's text. 

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville 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.

http://www.mhhe.com/larson

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 facilitator's educational philosophy is one of interactiveness based on readings, homework practice, quizzes, dialogs, discussions, questions, examinations, powerpoints, and solving problems based on the discipline and logic of accounting principles.  Questions are encouraged. 

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. 1. Explain the importance of accounting to business organizations and ethics in accounting.
  2. 2. Explain accounting in the information age and how financial statements are used by businesses.  Apply transaction analysis to the accounting equations.
  3. 3. Explain the concept of double entry accounting, postings, ledgers and trial balances. Interpert and record transactions.
  4. 4. Evaluate the closing process, including procedures and the use of a post closing trial balance.  Develop worksheets to aid in preparing finanacial statements.
  5. 5. Account for merchandising activities, including purchases, sales transactions and adjustments
  6. 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. 8. Explain the concepts of internal control and the analysis of cash.
  9. 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. 10. Explain and develop the accounting for long term assets and intangible assets.  Allocate the cost of the asset to the periods benefiting from the asset.
  11. 11. Understand how to identify, compute, record and report current liabilities in the financial statments.
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:
The grading scheme is as follows for the course:
Discussion (7)               10%
Homework (7)              14%
Quizzes  (7)                  10%
Hour exams (3)             36%
Final Exam                    30%

Total Grade                100%

A=90-100%
B=80=89%
C=70-79%
D=60-69%
F=59 and below

Grading:
Course Grading Scale
Graded Work

Discussion                 10%   (answer all discussion questions accurately prior to Friday each week for a total of 10 points)
Homework                14%  (submitting completed assigned homework each week prior to Friday for a total of 10 points)
Quizzes                     10%   (4 multiple choice questions and 1 problem for a total of 10 points)
Hour Exams              36%  (10 multiple choice questions and 3 problems for a total of 100 points)
Final Exam                30%   (10 multiple choice questions and  5 problems for a total of 100 points)

Total Grade             100%
 A = 90- 100%
 B = 80-89% 
 C = 70-79% 
 D = 60-69%  
 F = < 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:
Late work is not accepted.

Classroom Rules of Conduct:
A class week is defined as the period of time between Monday and Sunday at 12 PM CST. You may contact me through the discussion content area, the office content area, or by e-mail at my Park University address.  I will respond quickly, usually within 24 hours. Course work that is to be turned in must be submitted  within the specified time. Discussions and homework from the text is due by Friday of each week.  Quizzes and exams are due by Sunday of each week.  Student should use e-mail for private messages to the instructor and other students.  The discussion and office areas are for public messages and are viewable by all members of the class.

Course Topic/Dates/Assignments:
Topics to be covered:
1. Accounting Model
2. Accounting Cycle
3. Accounting for Merchandising Concerns
4. Internal controls
5. Classification of the Accounts
6. Generally Accepted Accounting Principles

 Week One Assignments: Read chapter 1 & 2.  Answer all discussion questions by the Friday deadline. Review powerpoint presentations for the chapter. Complete problems 1-2A and 1-7A. Submit these problems in the drop box by the Friday deadline.  Once submitted, the solutions to these will be sent to you so you can check your answers. Questions about answers you do not understand are encouraged.  Do quiz #1 and send to the dropbox for grading. This is an open book and open note quiz covering the material in chapter 1. The quiz is available in the evaluation section. There are four multiple choice questions worth 1 point each and one short problem worth 6 points.

Week Two Assignments: Read Chapter 3. Answer all discussion questions by the Friday deadline.  Review the powerpoint presentations for this chapter. Complete problem 2-2A and 2-4A. Submit these problem in the dropbox by the Friday deadline.  The solution to these problems will then be sent for you to check your answers. Do quiz #2 covering the material to date. There are four multiple choice questions worth 1 point each and one short problem worth 6 points. Take the first hour exam covering chapters 1 and 2. It is in the evaluation area.  It consists of ten multiple choice questions worth two points each and four problems.  The points for each problem will be noted.

Week Three Assignments: Read chapters 4 and 5. Answer all discussion questions by the Friday deadline.  Review the powerpoint presentations for the chapters. Complete problems 3-3A, and 4-2A.  Submit these problems in the dropbox by the Friday dealine.   The solutions to these will then be sent for you to check yours answers. Do quiz #3 covering the material to date.

Week Four Assignments: Read Chapters 6 & 7.  Answer all discussion questions by the Friday deadline.  Review the powerpoint presentation for the chapters. Complete problem 5-2A, 5-3A, and 6-1A and submit in the dropbox by the Friday deadline. Complete quiz #4 and send to the dropbox for grading. This is a quiz consisting of four multiple choice questions worth 1 point each and one problem worth 6 points The quiz covers the material to date and is in the evaluation area.. Take the second hour exam covering the material to date.

Week 5 Assignments: Read chapter 8. Answer all discussion questions by the Friday deadline.  Review the powerpoint presentations for the chapter. Complete the Comprehensive problem 7-7. Submit this problems in the dropbox by the Friday deadline.  The solutions will then be sent for you to check your answers. Do quiz #5 covering the material to date

Week 6 Assignments: Read chapters 9 & 10. Answer all discussion questions by the Friday deadline.  Review the powerpoint presentation for the chapters. Prepare problems 8-1A, 8-3A, 8-5A, 9-3A and 9-5A  Do quiz #6 and send to the dropbox for grading. This is an open book and open note quiz the quiz covers the material to date. . Take the third hour exam covering the material to date.

Week Seven Assignments: Read chapter 11. Answer all discussion questions by the Friday deadline.  Review the powerpoint presentation for the chapters. Complete problems 10-3A, 10-6A, 11-1A, and 11-4A. Submit these problems by the Friday deadline.  Do quiz #7. This quiz is located in the evaluation area and covers the material to date.

Week Eight Assignments: There is no formal lecture this week as no new material will be presented. Your proctor should have your exam and instructions for its return. You may take a calculator into the exam.  I will answer any final questions you may have. Please review all previous problems, quizzes, and exams as you prepare for the final exam. The exam is scheduled for two hours. 

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.

  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 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 .



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:9/25/2010 12:20:40 PM