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AC 201 Principles of Accounting I
Meadows, Michael E.


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 201 Principles of Accounting I

Semester

F1T 2011 DLH

Faculty

Meadows, Michael E.

Title

Adjunct Faculty Senior Instructor

Degrees/Certificates

MS, Management (Finance and Logistics Engineering)
BS's, Accounting and Management Accounting

Office Location

Augusta, Georgia

Office Hours

By E-mail Appointment

Daytime Phone

(706) 394-5744

E-Mail

michael.meadows@pirate.park.edu

mike.meadows@comcast.net

Web Page

http://    N/A

Semester Dates

08/15/2011 - 10/09/2011

Class Days

Online Monday thru Sunday

Credit Hours

3


Textbook:
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. Required Text:

Title: Fundamental Accounting Principles
Author: John Wild, Ken Shaw, Barbara Chiappetta
ISBN: 9780077405144
Publisher: McGraw-Hill/Irwin; 20 edition
Textbook can be purchased through the MBS bookstore

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:
N/A

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:
Online discussion questions, independent study and problem solving exercises in and out of class will constitute the primary delivery modes of course content.  Each student is expected to accomplish assigned readings and homework problems and to come to discussion threads prepared to ask and answer questions.  The “secret” to success in this class is to be positively engaged and attentive and to not let the work pile up until the end of the week.

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. 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 reproting 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 benefitting 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:

Seven quizzes, three exams and a Final Exam comprise the evaluation methods that determine the students success. 

Grading:

The grading scheme is as follows for the course:

 
Weekly Quizzes  (7)               10%
Hour exams (3) (16% each)    48%
Discussion Questions (7)         12%
Comprehensive Final Exam*   30% 
Total Grade                           100%

The final exam is closed book, closed notes.

Submission of Late Work: Late work is not accepted. Proctored final examination A final proctored examination will be taken in a proctored testing environment during the 8th (or 16th) week at one of the Park University sites around the country or at an alternative location.  For proctored examinations, photo identification is required at the time of the test.  Guidelines for selecting an acceptable proctor can be found on the Park University Website.   Other Information on proctored exams: It will be the responsibility of the student to arrange for a proctor, by the 6th week of the term, who is accepted and approved by the course instructor.   Approval of proctors is the discretion of the Online instructor.   A proctor request form will be made available to you during the first week of class so that you can send your requested proctor to your instructor for approval.   Failure to take a final proctored exam (or submit your final project for some online graduate courses) will result in an automatic "F" grade. -------------------------------------------------------------------------------- Course Grading Scale Graded Work Quizes                     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 = < 60%   The instructor resevres the right to curve the final average for each student. 

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 a predetermined valid reason or in case of an emergency.

Classroom Rules of Conduct:
Policy #2: Ground Rules for Online Communication & Participation General email: Students should use email for private messages to the instructor and other students. When sending email other than assignments, you must identify yourself fully by name and class in all email sent to your instructor and/or other members of our class. Online threaded discussions: are public messages and all writings in this area will be viewable by the entire class or assigned group members. Online Instructor Response Policy:  Online Instructors will check email frequently and will respond to course-related questions within 24-48 hours. Observation of "Netiquette": All your Online communications need to be composed with fairness, honesty and tact.  Spelling and grammar are very important in an Online course.  What you put into an Online course reflects on your level of professionalism.  Here are a couple of Online references that discuss writing Online http://goto.intwg.com/ and netiquette http://www.albion.com/netiquette/corerules.html. Please check the Announcements area before you ask general course "housekeeping" questions (i.e. how do I submit assignment 3?).  If you don't see your question there, then please contact your instructor.  

Course Topic/Dates/Assignments:
WEEK ONE: Assignments Read chapters 1 and 2 Review Powerpoint Presentations for Chapters Complete problems 1-7A and 2-6A. Do not submit these problems as they will be self graded. I will post the solutions to these at the end of the week for you to check your answers. Do quiz #1 and send to drop box for grading. This is an open book and open note quiz covering the material in chapters 1 and 2. The quiz is available in the evaluation section. WEEK 2 Assignments Read Chapter 3. Review the Powerpoint Presentation for the chapter Complete problem 3-2A. Do not submit this problem as it will be self graded. I will post the solution to this problem at the end of the week for you to check your answers. Do quiz #2 covering the material in chapter 3. It is in the Evaluation section. There are four mulitple choice questions worth 10 points each and one short problem worth 60 points. Take the First Hour Exam covering chapters 1, 2 and 3. It is in the evaluation area. WEEK 3 Assignments Read Chapters 4 and 5. Review the Powerpoint Presentations for the chapters Complete problems 4-4A and 5-1A. Do not submit these problems as they will be self graded. I will post the solutions to these at the end of the week for you to check yours answers. Do quiz #3 covering the material from chapters 4 and 5 . This quiz is in the evaluation area. WEEK 4 Assignments Read Chapters 6 and 7. Review the Powerpoint Presentations for the chapters Complete problem 6-1A and exercises 7-1 thru 7-4. Complete quiz #4 and send to the drop box for grading. This is a quiz consisting of four multiple chioce questions worth 10 points each and one problem worth 60 points The quiz covers the material in chapters 6 and 7 and is in the evaluation area.. Take the second hour exam covering the material in chapters 4,5 and 6. The exam is located in the evaluation area. WEEK 5 Assignments Read Chapter 8. Read the Powerpoint Presentation for the chapter Complete problems 8-1A, 8-2A and 8-4A. Do not submit these problems as they will be self graded. I will post the solutions to these at the end of the for you to check your answers. Do quiz #5 covering the material from chapter 8. This is located in the Evaluation area. WEEK 6 Assignments Read Chapters 9 and 10. Review the Powerpoint Presentation for the chapters Prepare problems 9-2A, 9-5A, 10-3A, and 10-1B. Do quiz #6 and send to the drop box for grading. This is an open book and open note quiz the quiz covers the material from chapters 9 and 10. the quiz is available in the evaluation area. Take the third hour exam covering the material from chapters 7, 8 and 9. It is in the evaluation area. WEEK 7 Assignments Read Chapters 11 . Review the Powerpoint Presentation for the chapter Complete Problems 11-4A, and 11-1B. Do not submit these problems as they will be self graded. I will post the solutions to these at the end of the week for you to check your answers. Do quiz #7. This is quiz is laocated in the evaluation area andcovers the material in chapter 11. WEEK 8 Assignments Please review all previous problems, quizes, and exams as you prepare for the final exam. There is no additional material to assign at this time. the exam is scheduled for two hours. Your proctor will have the exam and intructions for its return.

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 2011-2012 Undergraduate Catalog Page 93

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 2011-2012 Undergraduate Catalog Page 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: Students must participate in an academically related activity on a weekly basis in order to be marked present in an online class. Examples of academically-related activities include but are not limited to: contributing to an online discussion, completing a quiz or exam, completing an assignment, initiating contact with a faculty member to ask a courserelated question, or using any of the learning management system tools.

Park University 2011-2012 Undergraduate Catalog Page 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%
 

Copyright:

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Last Updated:8/8/2011 4:51:45 AM