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AC 201 Principles of Accounting I
DeMott, Beatrix


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 IN

Semester

S1J 2013 IN

Faculty

DeMott, Beatrix

Title

Adjunct Faculty

Degrees/Certificates

Masters of Business & Administration
Bachelor of Science - Accounting
Bachelor of Arts - History/English Education

Office Location

Independence campus classroom

Office Hours

usually available 1/2 hours prior to class

Daytime Phone

816-795-9573    You may call me up until 8PM on Wednesday through Saturday and until 6PM on Sunday.  There is an answering machine available so please leave a message & I'll return your call.  I do not have long distance on my telephone but will email a response to anyone with a long distance number.

Other Phone

816-795-9573  You may call Wednesday thru Sunday.  I am not available Monday or Tuesday during the day or evening hours.  Please do not try to call or email on Monday or Tuesday as, often, I do not receive the messages until too late to respond.

E-Mail

Beatrix.DeMott@park.edu

hcdemott@yahoo.com

Semester Dates

 January 14 - March 10, 2013;  last drop date January 21, 2013  ;  last withdrawal date February 17, 2013

Class Days

--T----

Class Time

5:30 - 9:50 PM

Credit Hours

3


Textbook:

Wild, Shaw, Chiappetta

Fundamental Accounting Principles, 20edition
ISBN-13:  978-0-07-811087-0



Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

http://www.mhhe.com/wildFAP20e includes generic Accounting templates chapter by chapter.

 

 Current newspapers or magazines

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Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.


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 main method of instruction  will be  lecture, class & group discussion, and home work assignments.  Quite a number of exercises will be worked in class.

Student  participation is an essential part of the class. Bring calculator and pencil and eraser to class.  Laptop permitted. You may use calculators on all tests and homework assignments.  NO cell phone calculators or programmable calculators or laptop computers allowed during tests.

The text also has on line help and worksheets for some of the problems.  

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:

Accounting begins with chapter one and every subsequent chapter builds upon that information and knowledge. 

A. Complete all reading assignments  before attending class on the week noted in the section labeled  Course  Topic/Dates/Assignments. A number of exercises will be done in class as a  class/teacher project. Quizzes may be used as a teaching tool. Definitions are important.  An assignment syllabus will be handed out the first night of class.

If  you get stuck on a problem, call. Don't spend hours on one problem.  CALL!  

Please realize that homework is very important in learning accounting and you will be graded upon completing the homework  assignment. The intent of the homework is for the student to solve Accounting problems which relate to the chapters of class discussion and practice exercises.   A  study group is a great way to learn.

B.  Each student is to bring an  article from a current newspaper, or magazine  or Internet for a brief discussion. Current means one year or less old.  Prepare 1/2 to 1 page, typed, review of the article using correct grammar and spelling.  You will present the article to the class.  Instruction sheet will be handed out  the first night of class.  The first week of class a sign up sheet for the article will be available and you will choose the week for presentation which becomes your due date.

The article must pertain to accounting. Do NOT use  the Journal of Accountancy or other similar professional magazines .  The object is to demonstrate how often accounting terminology & principles & knowledge is  used in every day writings. 

 Make a copy of the article for each student and the instructor.  State the source  of the article and the date. No articles regarding the various scandal ridden companies such as Enron, bank or car bailouts,  and no earnings or dividend  type articles. NO articles about company's quarterly report or yearly earnings.  If in doubt, ask the instructor.  No duplicate articles or topics.  Reduced points for late presentation or written review.

C. I would prefer you use Excel for your homework.  If you do not use Excel ,  homework must be turned in on green, four or more column accounting paper.    You may make your own accounting paper using Excel.  The Park computer lab has Excel available.    If I can’t read it, I can’t grade it.  

If you use Excel, just print it on regular printer paper. Some homework problem formats are available on the text web site.     NO notebook  paper!!!

D.  There will be a midterm exam and final exam.   The university may provide the final exam.    

E. Bring paper, pencil, eraser, and calculator for in class calculating of Accounting exercises.  No cell phone calculators allowed for use during a test.
 
F.  Quizes  - unannounced 

Grading:

Midterm Exam-Approximately 50-100 points          

Final Exam - 100 points      
Homework - If turned in on time & complete.                                                          10 points per problem.
Decreased  points for sloppy homework
Decreased points  for alternate homework .
Decreased points for wrong answers.
 

Attendance  - 5 points per class when present on time & stay to the end.                       40 points total for 8 weeks

Class participation - 5 points per class when present on time & stay to the end.             40 points total for 8 weeks

Newspaper article                                                                                                        10 points                            

Extra credit- TBD -   maximum 20 points                                                                  due week 7

Percentage breakdown follows:

Attend & participate      13%      

 Homework                   46%       

Tests                              40%       

Article                             <1%

Grading:   90% --- A     80% --- B     70% --- C        60% --- D •

• There will be a review worksheet prior to the  final.

• If extra credit is given to the class, it can not raise  your grade higher than one level. 

• Homework not completed and handed in on time does hurt in the final grade calculation. Accounting builds from chapter one to the last chapter.  If you get behind, it is very difficult to remain current with your understanding of the subsequent chapters.  You can not  get an "A" with incomplete or consistently late  homework assignments. Decreased points for late, alternate homework.  The later from the due date, the fewer points. Remember, if you can't figure out an assignment, call.

Instructor retains the right to change assignments with student notification.

 

 

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:

If you miss with an excused absence, turn in the homework the next class meeting for full credit.  Or you may fax the homework to Park on the evening it is due.  If it is an unexcused absence, turn in the homework for a decreased number of points at the next class meeting.   After an absence, homework is due the next meeting.......if it is not turned in the week following the excused or unexcused absence then alternate homework will be required for decreased credit. All make up homework must be turned in week 7.

Classroom Rules of Conduct:

CELL PHONES: Cell phones are a major annoyance and a major convenience.  Turn  them OFF. If you must leave your phone on, please  turn it to mute or  whatever setting your telephone requires so  that it does not disturb the class.  If you receive a call, leave the class room and go to the school lobby. Do not  stand in the  hallway as that disrupts other classes.

ABSENT: If you know you will be absent,  please inform the instructor PRIOR to your absence.  You may call the school [816-252-9065] to inform of absence.   Please  do not call or email me on the day of class as I do not always have access to my answering machine or email.  

Course Topic/Dates/Assignments:
The instructor reserves the right to change assignments with notification to the students. In class, we will work the various exercises. A separate homework syllabus will be handed out the first night of class. Additional problems maybe assigned if you are absent.

 

Week 1 Read the chapters 1-3  before class. Administrative remarks, Review course syllabus, Introduction to the course. 

 Chapter 1 - Accounting in Business

 Chapter 2 - Analyzing and Recording Transactions

Possibly begin chapter 3

  Week 2

 Chapter 3 -   Adjusting Accounts and Preparing Financial Statements

 Chapter 4 - Completing the Accounting Cycle

 Week 3  -   continue chapter 4

 Chapter 5 - Accounting for Merchandising Business

Chapter 6 - Inventories and Cost of Sales

 Week 4 Midterm - 
Chapter 6 - complete if necessary                      Read chapter 7
Chapter 8 Cash and Internal Controls

 Week 5

Chapter 8  continue

 Chapter 9 - Accounting for Receivables

 Week 6

Chapters 9 continue

Chapter 10 -Plant Assets, Natural Resources, and Intangibles

 Week 7

 Chapter 11 - Current Liabilities and Payroll Accounting

Review

All alternative homework and all extra credit due.

 Week 8           FINAL   

 

 

 

NOTE: Homework is due the week shown on the Assignment Syllabus which is distributed week one. Decreasing points for late, alternative homework. Instructor reserves the right to change assignments and due dates with notification to the students. Please check your Park email as that is my main method of communication. If a difficulty is discovered with homework assignments, Park email is how information is distributed to all class members.


 

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 95-96

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 95
For the article review, use correct paper format with quotations attributed to source with foot or end notes. Give the source, author, and date of the article.

A more detailed instruction sheet will be handed out week 1.

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.

Park University 2011-2012 Undergraduate Catalog Page 98
Students are expected to attend  all classes and be on time and stay for the entire class meeting time.  Class  begins at 5:30PM and roll will be taken at sometime during the class period.  Decreased points for tardy or leaving early. Absenteeism and tardiness are a deterrent to academic achievement.

Classes missed for legitimate reasons [see definition below] are excusable.

In  Accounting it is very important not to miss a  class.  Accounting begins with chapter 1 and each subsequent  chapter builds on that knowledge.  If you miss one week, you've  missed 12.5% of classwork.  Make a commitment to attending each of the eight weeks.

Definition  of excused  absence:  
              Work
              Work related travel
              Sickness
              Death in  family
              Other events will be considered on an
              individual basis.

A written note or other paperwork to back up your absence may be requested.

If you are not in class, you can not participate.  No attendance or participation points are given if you are  unexcused.  An excused absense, with prior notification, will receive five points.

At the first class meeting, we will discuss alternative meeting for makeup in the event, classes are canceled due to weather.

A student who is absent from  class is responsible for  all material covered during the class period and possible additional homework problems can be assigned. 

If you know you will be gone, please notify me prior to your absence.  To inform the instructor of your  absence, either call me prior to your absence or if the your situation arises on Tuesday, leave a message with the school administration.  If you  do not call, the absence is  unexcused.  Proof  may be  required for excused absence. 

Do NOT call or email me on the day of class as often I can not check my answering machine or read my email.

Please call the school!

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:12/5/2012 6:03:16 PM