Course Syllabus
Welcome to ACC 115, Financial Accounting
Fall, 2007
Nancy L. Kelly, Professor
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Schedule:
Although this is a 16-week online course and, as such, is self-paced, you will find that you have scheduled assignments. Please be sure that you follow the schedule as it will make your learning experience much more enjoyable. You may have taken other online classes that do not require you to submit assignments on a schedule. This class is different. You are required to do the work in the time frame specified. There are definite due dates. You are responsible to ask questions on each chapter. I will post lecture notes and hints for each chapter but you need to begin the discussion on topics that you are unsure of.
Phone: Office: 860-343-5761 In an emergency only Cell phone 203-675-1037 No calls after 9:00pm please.
Mail: Use mail within the course to correspond with me, however, if the server is down and you need me immediately you can try my office email of nkelly@mxcc.commnet.edu
Office Hours:
I will check Mail every weekday. You will get a response in 24 hours. I will notify you though the Discussion if I am unavailable. I also try to check mail over the weekend but I cannot guarantee that.
Prerequisites: Minimum placement in English 063, Math 137, and completion of English 073, if required, or permission of instructor.
Credits: 4 credits
Scope of the Course:
The course examines the structure of accounting and the accounting equation. It studies the basic essentials of accounting that includes journalizing and posting transactions; preparing the trial balance; preparing the financial statements; and journalizing and posting adjusting and closing entries. Accounting transactions for both service and merchandising corporations are presented. The course introduces the basic concepts of asset and liability measurement, both current and long term, and revenue determination by examination of specific accounts. Corporate organizations and retained earning accounts are studied. The computer will be integrated into the course as both a teaching and learning resource. A computerized software accounting package, QuickBooks, will be used.
Importance of course in program
This is the first course that accounting students take in the accounting program. It is also the only required accounting course for students in other business majors. Accounting is the language of business. In this course the students develops the understanding of the language and is able to understand how business measure its activities, processes the data into reports, and communicates the results to people outside the firm.
Learning Outcomes
The learning outcomes of the course are detailed in the Chapter Learning Outcomes. In the table below are the Learning Outcomes of the Accounting program and how they relate to the MxCC Core Competencies. All of the LOs of the program are contained in this course. This course transfers to all known colleges and universities, although it may transfer as 3 credits only.
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Develop in-depth accounting knowledge and skill necessary for employment as full-charge bookkeepers or jr. accountants or to continue study in the field of accounting at a four-year institution |
Related MxCC Core Competencies
Technological litercy Information literacy Aesthetic perspective
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Be competent in written and oral communications. |
Communication skills |
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Be able to analyze and synthesize information. |
Conceptual skills/critical thinking skills |
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Be able to reason quantitatively. |
Quantitative reasoning skills |
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Develop respect and appreciation of all people. |
Values, ethics and responsible citizenship |
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Provide general education |
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Textbooks
FINANCIAL ACCOUNTING, Harrison and Horngren, Prentice Hall, 6th Ed
Required Materials:
COMPUTER - Your computer has to have minimum requirements as established by the college. See information concerning your browser in the online orientation material. If you have a MAC you will have to find a PC for the QuickBooks Project later in the course. The free website for QuickBooks does not support the MAC.
SOFTWARE - You will need the following software to take this course.
Evaluation:
Three tests and nine quizzes will be administered. The lowest quiz grade will be dropped.
3 Tests - 300 points approx 53% of grade
8 out of 9 Quizzes 80 points 14% of grade
Computer Project 100 points 17% of grade
15 of 18 Homework Assignments 30 points 5% of grade
3 short projects 60 points 11% of grade
570 points 100%
Quizzes are 10 multiple choice questions on the reading. Each quiz is worth 10 points; the lowest grade will be dropped. These will be taken timed on-line. Homework assignments are worth 2 points each and are submitted though Submission found in each Chapter , either as word documents or excel spreadsheets. Short projects are worth 20 points each. All work must be submitted through Submission on time unless arrangements have been made with the instructor prior to the due date. Tests are problem-based and are taken timed online. The computer will automatically record the quiz, test and short-projects in the Grade Book . Students who submit their homework problems on time will received 2 points each, up to 24 hours late is 1 point each and over 24 hours a 0. The instructor reserves the right to change the grading process but will notify the students of any change.
Testing:
Graded Quizzes and Tests are taken online within the days specified in the Calendar. They are timed assessments. The quizzes are 15 minute quizzes and the tests are 100 minutes. Once the test is turned off it cannot be turned back on. Students will have a week to choose when to take the assessments. Waiting to the last minute is not recommended as you could have problems with your computer and no time left on the clock. Schedule wisely.
Withdrawals:
In addition to the college’s withdrawal policy (see college catalog), I will allow a "W" grade up to December 7th if the student has discussed the withdrawal with me. I will help file the appropriate documents with the Records Office. Students who fail to follow procedure will receive the grade they have earned. No exceptions.
Additional Information
“Students with physical or learning disabilities who may require accommodations are encouraged to contact the Counseling Office. After disclosing the nature of the disability, students are urged to discuss their needs with individual instructors. This should be done at the beginning of each semester. Instructors, in conjunction with appropriate college officials, will provide assistance and/or accommodations only to those students who have completed this process.”
“At Middlesex Community College we expect the highest standards of academic honesty. Academic dishonesty is prohibited in accordance with the Board of Trustees’ Proscribed Conduct Policy in Section 5.2.1 of the Board of Trustees’ Policy Manual. This policy prohibits cheating on examinations, unauthorized collaboration on assignments, unauthorized access to examinations or course materials, plagiarism, and other proscribed activities. Plagiarism is defined as the use of another’s idea(s) or phrase(s) and representing that/those idea(s) as your own, either intentionally or unintentionally.” (Board of Trustees’ Policy 5.2.1)
“All resources and facilities of the Data Processing Labs, including the computer classroom sites, are to used solely for the legitimate and authorized academic and administrative purposes. Any unauthorized or illegitimate use of the computer systems, resources, and/or facilities will be subject to appropriate disciplinary action, including but not subject to criminal prosecution in accordance with Section 53a-250, et seq., of the General Statutes”.
Chapter Learning objectives, activities, assignments and assessments
Listed with each chapter are the learning objectives, the reading assignments, supplement assignments, and exercises and problems. The process for accomplishing these requirements are detailed in the Assignment under each chapter which will provided by Friday evening each week for the following week. The schedule of the chapters is presented below. It is important that you check each week for this information.
Discussions:
The conference/threaded discussion function of this course allows us to become a community of learners. Responding to other student postings is your way of demonstrating that you are participating in the course. Check the Discussion often and join us in the chat room. Some assignments may require you to post to the Discussion. You will receive specific instructions.
Talking with the instructor:
I will respond to Mail each day Monday – Friday.
Weekly Schedule:
Week 1 ( 8/27- 9/3)
Chapter 1 The Financial Statements
Learning Objectives:
Week 2 and 3 (9/4-9/17)
Chapter 2 Transaction Analysis
Learning Objectives
Assign Project 1 Due 9/9
Week 4 and 5 (9/18-10/1)
Chapter 3 Using Accrual Accounting to Measure Income
Learning Objectives
Weeks 6 (10/2-10/8)
Take Test #1 Chapter 1-3 by 10/8
Weeks 7 (10/9-10/15)
Chapter 4 Internal Control and Cash
Learning Objectives
Weeks 8 and 9 (10/16-10/29)
Chapter 5 Short term Investments and Receivables
Learning Objectives
Week 10 (10/30-11/5)
Chapter 6 Merchandise Inventory and Cost of Goods Sold
Learning Objectives
· Account for inventory transactions
· Analyze various inventory methods
· Identify the income tax effect of the inventory methods
Assign QuickBooks Project: Stage 4 (due 11/18)
Weeks 11 ( 11/6-11/12)
Take Test #2 Chapters 4-6 by 11/12
Week 12 ( 11/13-11/19)
Chapter 7 Plant Assets, Natural Resources and Intangibles
Learning Objectives
QuickBooks Stage 4 due 11/18 No Exceptions
Assign Project 3 due 12/2
Week 13 (11/20-11/26)
Chapter 8 Current and Long Term Liabilities
Learning Objectives
Week 14 and 15 (11/27-12/10)
Chapter 9 Stockholder's Equity
Learning Objectives
Week 16 (12/11-12/17)
Take Test #3 Chapters 7-9 by 12/17 No Exceptions!
Words of Wisdom: (From a very wise teacher)
"Please take time to explore course format and consider emotional issues associated with distance learning. For example, a distance learning course is based on knowledge of the technology, knowledge of self and others, and trust. Trust that you are doing the work, that you will abide by timeliness, that you will be sensitive to each others feelings realizing that we support each other and that you will tell me when problems arise." (Dr. R. Chalet)