ACCT 201 OLA, 1130 - Spring 2020 - Mark Eppley PDF

Preview

Summary

Download ACCT 201 OLA, 1130 - Spring 2020 - Mark Eppley PDF

Description

ACCT201 Principles of Accounting I

Course Information ACCT&201 1130 OLA Spring 2020 (Online)

Instructor Information Mark Eppley, MBA, CPA, CGMA E-mail: mailto:[email protected] (CANVAS class email preferred except for scheduling individual office appointments)

Live online meeting schedule: “Lectures” (in my Zoom Room https://zoom.us/j/674624251 ): •

Tuesday/Thursday 10:00 – 11:00am

NOTE: All live sessions will be recorded and links posted in our class.

“Office Hours – walk-in” (in my Zoom Room https://zoom.us/j/243079816 ): •

Tuesday 11:00am – 12:00pm

“Office Hours – individual appointments – please schedule with a request to my EVCC email: [email protected] • •

Tuesday 12:00 – 2pm Thursday 11:00am – 1:00pm

Final Exam:

Thursday, June 18th. (24 hour window – Online – Honorlock Proctoring)

Midterm Exam: Tuesday, May 19th (24 hour window – Online – Honorlock Proctoring) (NOTE: The exam dates can not be changed)

Course Description This is an introductory transfer-level accounting course. It is required for all Business Administration transfer students. It includes an introduction to the financial accounting process, principles, concepts, and issues that govern the preparation and interpretation of financial statements; theory of double-entry bookkeeping; accounting procedures for service and manufacturing firms; and the accounting treatment for cash, inventory, and cost of goods sold. Microsoft Excel and Word skills are strongly suggested.

.

Entry Competencies: There are no accounting prerequisites for this course other than either have taken ACCT110, or have sophomore standing with a minimum “C” GPA, or instructor permission. Students should also have good English language, Mathematics and Excel skills. Required Materials:

Text: Horngren's Financial & Managerial Accounting, The Managerial Chapters, Student Value Edition Plus MyAccountingLab with Pearson eText, 6/E (class covers ch 1-7) Note: Use of My Accounting Lab (online homework manager)is required when submitting some assigned textbook related homework and quizzes. If you do not purchase the bundle in the EVCC bookstore, you will need to purchase a separate access code online. My Accounting Lab Registration Website:

http://www.pearsonmylabandmastering.com/northamerica/ My Accounting Lab Course ID :

Course Name:

eppley89998

ACCT201 1130 OLA S20

NOTE: There are detailed instructions for registering for My Accounting Lab posted in the Getting Started folder on Canvas.

My Accounting Lab Support: Web: http://247pearsoned.custhelp.com

Phone: 1-800-677-6337

Other Required Materials: Quantum Tutors (www.quantumtutors.com) – This is a required learning resource to help students practice transactions to help cement concepts and learning. (Note: there are graded assignments from this resource) The discounted cost for EVCC students is $15 for access (make sure to use promo code “evcc”). To access this tool see instructions found in the Course Information Getting Started module on CANVAS. The course to register for are titled:

Eppley S20 ACCT201 1130 OLA Quantum Tutors Sections applicable to ACCT201 Transaction Analysis Adjusting Entries Financial Statement Preparation Inventories and Cost of Goods Sold Choose “corporation” option for ACCT201

Course Objectives and Outcomes Upon successful completion of this course the student should be able to: Upon successful completion of this course, the student should be able to: • •

• • • • • •

Enumerate and explain the fundamental accounting principles and conventions. Demonstrate an understanding of “accrual basis” accounting and the double-entry bookkeeping system by correctly analyzing business transactions and formulating those transactions into appropriate journal entries. Explain the purpose of and relationship between the journal and ledger. Develop, journalize, and post end-of-period adjustments and identify each as an “accrual” or “deferral.” Prepare end-of-period financial statements in “good form.” List and explain the fundamentals of internal control over cash. Explain the differences between a periodic inventory system and a perpetual inventory system. Calculate the appropriate value to be used for inventory related transactions and adjustments using FIFO, LIFO, Average and Lower-of-Cost-or-Market inventory methods.

•

Explain the advantages and disadvantages of choosing each of the different inventory valuation methods.

Additional objectives/clarifications: • Record journal entries, post to ledgers, prepare a trial balance and financial statements. • Prepare adjusting, correcting, and closing entries. • Practice account classification drills – foundation development for creating Financial Statements. • Analyze financial statements via financial performance ratios (metrics). • Payroll – calculate, record, post, pay, reporting requirements (if time allows) Accounting Program Level Outcomes: • • • • • • • • •

Explain accounting as the language of business. Use computerized and manual systems to record data and prepare accounting statements and reports. Organize and manage the daily business functions of an organization. Use research and analytical skills to support the business activities of the organization. Apply critical thinking and analytical skills in decision-making and problem solving. Formulate questions that can be addressed with data and collect, organize, and display relevant data to answer them. Apply accounting theory to analyze accounting information. Anticipate and actively explore innovative solutions to technological and organizational challenges. Use software including word processing, spreadsheets, and databases to input, manage, and interpret information to meet organizational needs.

Core Learning Outcomes 1. Analytical Thinking Students will apply quantitative and/or qualitative reasoning skills to solve problems, evaluate claims and support conclusions.

Requirements and Expectations

Weekly Schedule: The class schedule contains a listing of class activities and due dates. Each week's work consists of various approaches toward understanding the same topic(s) (e.g. text and other readings, videos, questions and answers, and discussion forums). Some assignments may be due at various times; however, all assignments are due per the course assignments schedule (Pacific Standard Time). The idea is to keep moving forward and gaining confidence as students learn a topic, and then apply knowledge via activities, exams, and projects. Specifics are provided in the “Activities to Meet Objectives” portion of the syllabus and the course assignments schedule. Communication: This class is designed to encourage an ongoing dialogue between student and instructor and amongst students as well. The instructor expects that you will have many questions and comments for him along the way. A benefit of a face-to-face class is that immediate interaction enriches the student learning experience. Communication is built into the class (see “Activities to Meet Objectives”) via classroom discussion, CANVAS discussion boards, and email. The instructor will respond to e-mail within 24 hours (within 48 hours on weekends). Students are encouraged to ask questions about assignments, readings, and other course activities throughout the quarter. Please note that personal PRIVATE questions, if not addressed face-to-face, should be handled via e-mail, NOT on the online discussion forum (ASK QUESTIONS).

Tips on How to Succeed in this Course: •

•

• • • • • •

Before reading the chapter: o review learning objectives @ beginning of chapter o review chapter summary @ end of chapter o note key terms o read questions Visit My Accounting Lab Multimedia Library - there you’ll find practice chapter exams, and and other learning resource modules. The “Dynamic Study Modules” resource has proven to be very effective for increasing students exam scores. Read each chapter - it is probable that some material will need to be read two or three times Expect to spend 12-15 hours or more per week of study/preparation time for this class Study review problem (s) at the end of each assigned chapter Complete all homework assignments per the schedule; this is absolutely necessary to help cement concepts Identify a study buddy, either virtual and/or face-to-face If assistance is needed, don’t wait; seek help promptly

ACTIVITIES TO MEET OBJECTIVES: •

Homework Assignments, will account for ~19% of the total grade. Students will be given the opportunity to demonstrate their knowledge of course principles, and procedures through completion of selected questions, problems and cases presented at the end of each chapter in the textbook, plus other supplementary materials. Homework assignments should be completed as requested (see course outline). Note: Instructor will not grade all homework. A check of your homework will be made primarily for completeness of the assignment, i.e. quality of effort. ✓ Homework or related work will generally be discussed in class. ✓ Homework assignments are always due per the schedule, unless instructor agrees to change - no exception. ✓ Absent extraordinary circumstances – e.g., major illness or death in immediate family, no late homework will be accepted.

•

Examinations will account for 70% of total grade. Students will apply their knowledge of course concepts via successful performance on chapter exams and two (2) comprehensive exams, a mid-term and a final. Note: No aids, other than a calculator, will be permitted regardless of whether the exam is held in person or online.

•

Team Activities, including online discussions. Students will be asked to demonstrate their ability to synthesize, evaluate, and draw conclusions by participating in team activities. Students must attend and participate fully in all team activities in order to receive the full points awarded to the team for the project.

•

Discussion Assignments – several during the quarter. 10%

•

Participation will account for ~ 2%.

•

Writing Requirements. In all written portions of assigned homework, financial analyses, exams, and the final exam, students will be required to paraphrase and quote relevant course material, use technical vocabulary accurately, and express conclusions supported by appropriate factual data, all in good form. Rules of good grammar always apply.

Examinations: All exams will be provided online. (please be sure to read the section titled “academic honesty” in this syllabus). Our Midterm and Final exams will be proctored by a company named HonorLock. Honorlock is an online proctoring service that allows you to take your exam from the comfort of your home. You DO NOT need to create an account, download software or schedule an appointment in advance. Honorlock is available 24/7 and all that is needed is a computer, a working webcam, and a stable Internet connection.

To get started, you will need Google Chrome and to download the Honorlock Chrome Extension. You can download the extension at www.honorlock.com/extension/install When you are ready to test, log into Canvas, go to your course, and click on your exam. Clicking "Launch Proctoring" will begin the Honorlock authentication process, where you will take a picture of yourself, show your ID, and complete a scan of your room. Honorlock will be recording your exam session by webcam as well as recording your screen. Honorlock also has an integrity algorithm that can detect search-engine use, so please do not attempt to search for answers, even if it's on a secondary device. Good luck! Honorlock support is available 24/7/365. If you encounter any issues, you may contact them by live chat, phone (844-243-2500), and/or email ([email protected]).

Note: If circumstances arise that prevent student from taking an exam at the scheduled time, unless prior arrangements are made or extenuating circumstances arise, student grade for that exam will be zero. Chapter exams will be administered through CANVAS/My Accounting Lab per the schedule and other quizzes may be as well. There will be no reminder announcements about scheduled exams. Online chapter quizzes will be timed and should be approached as you would an in person exam for you to gain an accurate assessment on how well you know the topics we are studying. Group Discussion: All group discussion will take place via the discussion forum on Canvas. Students are required to answer the question(s) of the week and to reply to at least two other students’ comment. Each week the initial post is due by Thursday midnight (Pacific Daylight Time), and two substantive replies by Monday midnight (Pacific Daylight Time). Students will demonstrate their ability to synthesize, evaluate and draw conclusions by participating in group discussions. Students are required to participate fully and professionally in all scheduled discussion activities (as noted on the Assignment Schedule). You may disagree without being disagreeable. Please do not use text messaging abbreviations or other bulletin board-type conventions when writing. As always, good grammar is expected. Grading Criteria (for Discussion Board Assignments) A B C D

Exceptional insight, original and consistent mastery of material. Above average logic, clarity, good overall application of the theories and concepts. Repetitive reasoning, over-generalized, weak central argument. Minimum fulfillment of assignment and lack of substance and clarity.

F

Incomplete or late work.

Note: No “make up" pop quiz, or chapter exams will be allowed. And only in extraordinary circumstances will mid-term or final exam exception be made. Note2: When taking in-class exams, no aids will be permitted, except a four function calculator, and scratch paper, unless otherwise specifically authorized.

Mid-Term Exam Content: Account classification; accounting cycle, including adjusting, correcting and closing entries; financial statements and analysis – service firms; bank account reconciliation. Final Exam Content: Account classification; accounting cycle, including adjusting entries and closing entries; financial statements and analysis-merchandise firms, banking; inventories and internal controls and inventories

Grading Scale: A = 95-100% A- = 90-94% B+ = 87-89% B = 83-86% B- = 80-82%

C+ = 77-79% C = 70-76% C- = 67-69% D = 60-66% F = Below 60%

Grade Components

Points

Percent*

10 75 25

2.0% 15.0% 5.0%

Participation "My Accounting Lab" Homework Pop Quizzes/Other homework Quantum Tutors - 4 (note for full credit seciions must sections at be completed before the due date 85% mastery for the related chapter exam on each that topic) Chapter Exams/Quizzes - Online Mid-term Exam - In class Final Exam - in class

40 50

8.0% 10.0%

150 150

30.0% 30.0%

Total Points

500

100.0%

Note: A weighted gradebook is used in this class and actual point totals may change but the percentage weight per grade component category will remain the same.

Changes to the Syllabus I have attempted to make this syllabus as comprehensive and accurate as possible and I may occasionally need to make small adjustments during the quarter. I will announce any changes in class or notify you via our Canvas class announcement and/or Canvas email. Always be sure to log into our Canvas class frequently and be sure to set your Canvas notification settings appropriately.

Class Schedule Class and exam schedule is published in our first class module.

Support for Students Equity and Accessibility Everett Community College through its Vision, Mission, and Strategic Plan, has made an institutional commitment to establish a diverse, equitable and inclusive working and learning environment. My goal is to create a classroom environment in which everyone can participate and learn. Because of the diversity of backgrounds, experiences, and beliefs all of us bring to this class, I expect you to interact with your peers in a spirit of generosity, mutual respect, and understanding. If there are aspects of this course that prevent you from learning or that exclude you, please speak with me as soon as possible. Together we can develop strategies to meet both your needs and the requirements of this course. I am happy to talk privately after class or during my office hours. You also have the right to request accommodation for a verified disability. For information and assistance, contact the Center for Disability Services (located in Parks 267, 425-388-9272, or [email protected]) for help documenting specific needs you may have and determining appropriate accommodations. Reasonable Accommodations for Faith/Conscience: Everett Community College students are entitled to two days of excused absences per academic year (summer quarter through the end of spring quarter) for reasons of faith or conscience or for organized activities conducted under the auspices of a religious denomination, church, or religious organization. Everett Community College will grant reasonable accommodation so that grades are not impacted for students who are absent for reasons of faith or conscience, or for an organized activity conducted under the auspices of a religious denomination, church, or religious organization. Such absences must be requested in writing within the first two weeks of the class or the first week for a late start class and may not incur additional fees for students. This policy and the associated procedure is posted on the Student Rights & Responsibilities website. Students who have concerns about approval or a grade impact may utilize the student grievance procedure for concerns not directly related to grades, or to the grade appeal process in cases impacting a final grade. We understand that for our campus to be welcoming and safe, it must be free from all forms of discrimination. Everett Community College does not discriminate based on, but not limited to, race, religion, creed, color, national origin, age, sex, sexual orientation, gender identity or expression, pregnancy or parental status, marital status, disability, genetic information, or status as a veteran of

war. If you believe that you have been subjected to discrimination or harassment based upon any of these, you should let me know or contact the college’s Title IX Coordinator at [email protected] or 425-388-9271. Additional Student Support Information: •

•

•

•

•

•

Canvas Assistance with the Canvas learning management system including logging in and course access. Whitehorse 210 – 425-388-9027 or 1-866-575-9027 Canvas Help Desks are also in the library, outside the Tutoring Center and the Whitehorse lobby. Counseling and Student Success Assistance with career counseling, academic/educational counseling, advising, and referral to community mental health resources Parks 3rd Floor – 425-388-9263 Library Information and services to support research and learning including books, media materials, and databases. Librarians assist students in locating information and developing research skills. Parks 1st floor – 425-388-9353 (checkout) and 425-388-9354 (reference assistance) Tutoring Center Free academic/tutorial support with course material, study skills, time management, and preparation for exams Rainier 119 and Baker 112 – 425-388-9356 Writing Center Peer writing assistants offer feedback, ideas, and methods for editing and polishing work. Gray Wolf 150 – 425-388-9406 For additional support services, visit the Everett Community Co...