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AC 201 Principles of Accounting I
Edmond, Tracie


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

S2T 2012 DLE

Faculty

Edmond, Tracie, PH.D., CPA

Title

Instructor: Management/Accounting

Degrees/Certificates

B.S. Accounting - Virginia Tech
M.B.A. - University of Texas At San Antonio
CPA  - Virginia /PH.D.  Capella

Office Location

Online

Office Hours

By Appointment

Daytime Phone

210 865-6429

E-Mail

tracie.edmond@park.edu

tedmond@satx.rr.com

Web Page

http://www.mhhe.com/wildFAP20e

Semester Dates

March - May

Class Days

Monday - Sunday

Class Time

Any

Credit Hours

3


Textbook:

Textbook:
Wild, Larson, Chiappetta ; Fundamental  Accounting Principles; 20th Ed.; MaGraw Hill
 

Textbooks can be purchased though the MBS bookstore

Textbooks can be purchased though the Parkville Bookstore

http://www.mhhe.com/wildFAP20e

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/wildFAP20e

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 that the student must actively engage in self learning through reading, personal research, and active engagement during class time. Students being actively engaged in their academic progress and life long learning is the central focus of this philosophy.

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.


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:

Students are responsible for reading all assignments in the text. Problems are done in class. Extra credit will be available and is due at the beginning of the following week's class. Late assignments will not be accepted unless coordinated with the instructor beforehand. Students are responsible for obtaining information regarding assignments made during absences.  There will be in class assignment and quizzes that can not be made up if student is not in class.  No hand-written exams will be accepted. Students must complete two tests.

The exams will cover all assigned reading in chapters 1 through 11. The exams are in-class assignments and will be in multiple choice, true/false, and word problem format.



 

Grading:

Class Assessment:
The grading scheme is as follows for the course:
Quizzes      - ( 7 quizzes @ 3.5) =  31.5% 
Discussion Board Assignments ( 7 total)  - 7% 
Hour exams ( 3 @ 4.5%) =    31.5% 
Final Exam                     30.0%

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
Quizzes                     31.5%   (4 multiple choice questions and 1 problem)
Hour Exams               31.5%  (10 multiple choice questions and 3 problems)
Final Exam                30.0%   (10 multiple choice questions and  5 problems) 

Discussion Board - 7 % ( Discussion Board Assignments Posted after due date, will not be accepted) 

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 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 area or by email at Park.  I will respond quickly, usually within 24 hours. Course work that is to be turned in must be submitted  within the specified time. Student should use E-mail for private messages to the instructor and other students.  The discussion area is for public messages and is viewable by all members of the class.

Classroom Rules of Conduct:

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 area or by email at Park.  I will respond quickly, usually within 24 hours. Course work that is to be turned in must be submitted  within the specified time. Student should use E-mail for private messages to the instructor and other students.  The discussion area is for public messages and is viewable by all members of the class.

Course Topic/Dates/Assignments:

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 chapters 1 and 2. Review Powerpoint Presentations for Chapters. Complete problems 1-7A and 2-6A. Submit these problems in the drop box.  I will send the solutions to these 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 Two Assignments:
Read Chapter 3. Review the Powerpoint Presentation for the chapter. Complete problem 3-2A. Submit this problem in the dropbox.  I will send the solution to this problem for you to check your answers. Do quiz #2 covering the material in chapter 3. It is in the Evaluation section. There are four multiple 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 Three Assignments:
Read Chapters 4 and 5. Review the Powerpoint Presentations for the chapters. Complete problems 4-4A and 5-1A.  Submit these problems in the drop box.  I will return the solutions to these 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 Four Assignments:
Read Chapters 6 and 7. Review the Powerpoint Presentations for the chapters. Complete problem 6-1A and exercises 7-1 through 7-4. Complete quiz #4 and send to the drop box for grading. This is a quiz consisting of four multiple choice 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. Review the Powerpoint Presentation for the chapter. Complete problems 8-1A, 8-2A and 8-4A. Submit these problems in the dropbox. I will return the solutions to these 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 Seven Assignments:
Read Chapters 11. Review the Powerpoint Presentation for the chapter. Complete Problems 11-4A, and 11-1B. Submit these problems.  Do quiz #7. This quiz is located in the evaluation area and covers the material in chapter 11.

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 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 .

Additional Information:






Bibliography:



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:2/17/2012 9:22:40 AM