ACCOUNTING 216-I1
FINANCIAL ACCOUNTING CONCEPTS
JACKSON COLLEGE
WINTER 2016
Professor: Suzanne E Kiess, CPA, MBA, MAED
E-Mail:
JCC Phone: (517) 796-8401, ext. 8608
JCC Office: North Campus 112 /
COURSE BASICS:
JC Catalog Description for ACC 216: This course is designed for the non-accounting supervisor/ manager who must have an understanding of financial and managerial accounting as it is used in decision making. Learn about annual reports, financial statements, balance sheet accounts and accounting transactions. Focus on how accounting information is used in decision making and not on the mechanics behind that accounting information. This is an introductory accounting course required for some BUA, CIS and HOC programs. Students should consider their academic program and select either ACC 216 or ACC 231 for their introductory accounting course. Prerequisite courses: ENG 085, ENG 090 and MTH 020
ACC 216 Transfer Information: There are 2 different introductory accounting courses at Jackson College. ACC 216 is intended for non-accounting majors including various programs in BUA, HLC and CIS. ACC 231 is intended for accounting majors and those transferring into four year business related programs. I recommend www.michigantransfernetwork.org for clear transfer information. Pick your intro class wisely and let me know if I can be of any help with your academic advising.
Class Meeting: This class meets online only with Wednesday due dates. I recommend you work on the class primarily during the weekend before the due date. Then, use the weekdays leading up to the due date to follow-up on any questions, get help if you need it and finish up your assignments.
Instructor Office Hours: Mon 10-2 at JNC 112, Tues 10-2 at JNC 112 and Wed 2-6 at WA with additional times encouraged and available by appointment
Required Text Materials:
1) Accounting Basics, Weinstein, 2014 edition, ISBN-13: 978-159136-692-8, $49.50 available at http://www.lablearning.com/accounting-basics.html (Note: We are not using the eLab feature of the Accounting Basics textbook., which includes online quizzing only. We will be taking our quizzes through JetNet.)
2) Accounting for Managers, Bergevin and MacQueen, 2010 edition, ISBN:
978-1-45021-164-2, $27.95 available at http://bookstore.iuniverse.com/Products/SKU-000115636/Accounting-for-Managers.aspx
Other Required Materials: strong Internet access, a technology back-up plan, Microsoft Word and Excel or compatible programs, and a file storage system (such as a flash drive or cloud file storage) for your work /JC INFORMATION:
Associate Degree Outcomes (ADO’s) for ACC 216: The Board of Trustees of Jackson Community College has determined that all JCC graduates should develop or enhance certain essential skills while enrolled in the college. Associate Degree Outcome (ADO) #7 will be addressed in this course, which represents critical thinking.
JC Course Objectives for ACC 216:
1. Identify the users of accounting information and their individual needs.
2. Read and understand the information communicated on a balance sheet, income statement, statement of retained earnings and statement of cash flows.
3. Understand the qualitative characteristics that make financial reporting useful.
4. Compute and interpret financial ratios that focus on liquidity, solvency, efficiency and profitability.
5. Understand the accounting cycle as it relates to the preparation of financial statements.
6. Distinguish between cash basis and accrual basis accounting.
7. Relate basic accounting concepts to the preparation of the financial statements.
8. Evaluate a company’s internal controls and identify potential weaknesses.
9. Communicate both orally and in writing in an accounting context.
10. Analyze and develop multiple solutions for ethical dilemmas faced in today’s business
environment.
HQV Grades for JC: To comply with college policy and federal regulations, you will be assigned HQV grades at approximately one week, two weeks, and eight weeks. Our HQV dates are 1/26/2016, 2/15/2016 and 3/21/2016. The grades assigned are letters with the following meanings:
o V = VERIFY This means that I verify that you are participating in the class, submitting work and your work so far has been acceptable.
o H = HELP This means that you are participating, but your work shows that you may need some help in order to complete the class successfully. If you receive an H grade, you will be contacted by the Center for Student Success and offered tutoring services.
o Q = QUIT This means that you have effectively quit participating in the course. If you receive a Q grade, you will automatically be withdrawn from the course.
o Note: your instructor may withdraw you for non-participation with a Q grade on an HQV date. You, the student, are the only one that can initiate a withdrawal after the last HQV date. Incomplete grades will be given only in accordance with JCC policy.
JC Technology: If you have trouble with your JC login or other computer issues, please contact the JC Solution Center at 517-796-8539. When e-mailing your instructor, please include your first and last name and put “ACC 216” in the subject line. Always save and back-up your files. Have a back-up technology plan in case your regular computer has problems. Please ask questions and get help early with any concerns you may have including technology problems.
JC Center for Student Success: Students requiring special assistance (including those affected by the Americans with Disabilities Act) should contact the Center for Student Success at 517-787-0800. This is the first step in acquiring the appropriate accommodations to facilitate your learning.
ACC 216 COURSE INFORMATION:
Forums (13 @ 10) / 130 / 4.0 / A / 93-100%
Chapter Summaries (10 @ 10 and 3 @ 5) / 115 / 3.5 / AB / 88-92%
Homework (12 @ 20) / 240 / 3.0 / B / 83-87%
Quizzes (6 @ 20) / 120 / 2.5 / BC / 78-82%
Crosswords (4 @ 5) / 20 / 2.0 / C / 73-77%
Mid-term Project (AB CH 8 Comprehensive Exercise Mother Mollys) / 100 / 1.5 / CD / 68-72%
Final Project (My Accounting Handbook) / 100 / 1.0 / D / 63-67%
0.5 / DF / 58-62%
Total Points Available / 825 / 0.0 / F / 0-57%
Forum: Your active involvement in the forum will directly correlate to how well you do with this online class. Use the forum regularly and frequently. I would recommend that you check in every day or two to see what’s happening, what people are saying and to gauge where you are with your work. You are required to post a minimum of 5 times per week, 2 points per post, 10 points per week. I will be posting a lot and will give lots of feedback. This is where our class happens. Note that if you only post on or near the final weekly deadline, you will not earn full forum points. Note that if you post something very brief such as “Yep, thanks.” or “Yeah, I was thinking the same thing.”, you will also not earn full forum points.
Chapter Summaries: Each week you will prepare your own chapter summary including notes, lists, highlights and written conclusions about the main points and key ideas of each chapter. Your work on the chapter summaries will correlate to your work in the Final Project when you create your own “My Accounting Handbook”.
Homework: You will prepare accounting work in Word and Excel. Homework for the Accounting Basics textbook will be completed using Excel template files. Homework for the Accounting for Managers textbook will be completing using both Word and Excel with significant support and setup provided in the forums. See the syllabus schedule here for specific homework problems assigned. Homework must be submitted by Wednesday midnight to JetNet.
Quizzes: There will be regular chapter quizzes for the Accounting Basics textbook available in JetNet. These weekly quizzes include: True False, Multiple Choice and Matching questions.
Crosswords: There is a terminology crossword puzzle for each chapter in the Accounting For Managers textbook. Complete each crossword in the Excel file provided and submit in JetNet.
Cases: There are a series of interesting and culturally relevant cases in our Accounting for Managers textbook. We will discuss these cases in detail each week in the forum including some portion of the final work required. You will complete your cases with your own analysis as well as consideration of the forum discussion.
Projects: You will prepare two course projects instead of tests or exams.
1) The Mid-term Project for the Accounting Basics textbook is the CH 8 Comprehensive Exercise for Mother Molly’s Daycare and represents the preparation and analysis of all accounting transactions and reporting for one month for a small business.
2) The Final Project for the Accounting for Managers textbook and ACC 216 overall is the Final Project, which is the creation of your “My Accounting Handbook”.
Methods to achieve objectives: Individual practice, group practice & discussion in the forums, homework, quizzes, research projects and discussion, and practical application of the text
Academic Honesty: If you cheat in this class, you will either 1) fail the assignment or 2) fail the course. Cheating in an accounting class takes the form of using or copying another student’s work and using it as your own. All assignments related to this class must be your own work. The JC Catalog defines academic honesty as “…the ethical behavior that includes (students’) producing their own work and not representing others’ work as their own…”
Due Dates, Late Policy and Grading: All assignments are due by the Wednesday midnight deadline. Note that midnight in JetNet is 11:55 PM. All assignments and projects must be completed and submitted before their scheduled deadlines. If you turn in your work past the due date, you will not receive points. If you are experiencing a genuine emergency such as a death in the family, find yourself admitted to the hospital, find yourself in jail, etc.; then please contact me as soon as possible. Feeling busy and overwhelmed with college, family and life is not an emergency (although it certainly does seem like it sometimes!). I will complete all grading promptly with detailed, specific feedback for you, within 24-48 hours with all points submitted in JetNet.
Week:
/ Chapter Topic: / Course Assignments:
During Week 1 through Week 8, we will be working with the Accounting Basics (AB) textbook.
Week 1
1/18-1/27
/ CH 1: Evaluating Transactions
CH 2: The Accounting Cycle
/ 1. Forum - participate in the CH 1/2 AB Forum
2. Summary - read CH 1/2 AB and prepare a 1 pg summary
3. Homework - complete selected CH 1/2 KCA exercises in Excel
4. Quiz - complete the CH 1/2 AB Quiz in JetNet
Week 2
1/28-2/3 / CH 3a: Journal Entries
and T-Accounts
/ 1. Forum - participate in the CH 3a AB Forum
2. Summary - read CH 3 AB and prepare a 1 pg summary
3. Homework – complete selected CH 3a KCA exercises in Excel
4. No Quiz - CH 3 Quiz due next week
Week 3
2/4-2/10 / CH 3b: Journal Entries
and T-Accounts / 1. Forum - participate in the CH 3b AB Forum
2. No Summary - CH 3 AB summary completed last week
3. Homework – complete selected CH 3b KCA exercises with Excel
4. Quiz – complete the CH 3 AB Quiz in JetNet
Week 4
2/11-2/17 / CH 4: Adjusting Entries / 1. Forum - participate in the CH 4 AB Forum
2. Summary - read CH 4 AB and prepare a 1 pg summary
3. Homework - complete all CH 4 KCA exercises with Excel
4. Quiz - complete the CH 4 Quiz in JetNet
Week 5
2/18-2/24 / CH 5: Financial Statements
and Closing Entries / 1. Forum - participate in the CH 5 AB Forum
2. Summary - read CH 5 AB and prepare a 1 pg summary
3. Homework - complete all CH 5 KCA exercises with Excel
4. Quiz - complete the CH 5 Quiz in JetNet
2/25-3/2 / Spring Break! / No assignments for one week!
Week 6
3/3 – 3/9 / CH 6: Computerized Systems, Cash & Payroll / 1. Forum - participate in the CH 6 AB Forum
2. Summary - read CH 6 AB and prepare a 1 pg summary
3. Homework - complete all CH 6 KCA exercises with Excel
4. Quiz - complete the CH 6 Quiz in JetNet
Week 7
3/10 – 3/16 / CH 7: Financial Statement Analysis
/ 1. Forum - participate in the CH 7 AB Forum
2. Summary - read CH 7 AB and prepare a 1 pg summary
3. Homework - complete all CH 7 KCA exercises with Excel
4. Quiz - complete the CH 7 Quiz in JetNet
Week 8
3/17 – 3/23 / CH 8: Mid-term Project, Comprehensive
Exercise, Mother Molly’s / 1. Forum – optional CH 8 AB Forum
2. Mid-term Project – Complete the CH 8 AB Comp. Exercise
Semester Schedule for ACC 216-I1
Week:
/ Chapter Topic: / Course Assignments:
During Week 9 through Week 15, we will be working with the Accounting For Managers (AFM) textbook.
Week 9
3/24-3/30
/ CH 1: Accounting Information
(fraud & GAAP violations)
/ 1. Forum - participate in the CH 1 AFM Forum
2. Summary - read CH 1 AFM and prepare a 1 pg summary
3. Crossword – complete AFM PG 17 Crossword
4. Homework – complete AFM Case 1-1
5. Mid-term Project – possible CH 8 Mother Molly’s Project
re-submissions
Week 10
3/31-4/6 / CH 2: Accounting Disclosures
(more with fraud and restated financial statements) / 1. Forum - participate in the CH 2 AFM Forum
2. Summary - read CH 2 AFM and prepare a 1 pg summary
3. Crossword – complete AFM PG 58 Crossword
4. Homework – complete AFM Case 2-1
Week 11
4/7-4/13 / CH 3: Auditing and Taxation
(audits, going concern, General Motors) / 1. Forum - participate in the CH 3 AFM Forum
2. Summary - read CH 3 AFM and prepare a 1 pg summary
3. Crossword – complete AFM PG 88 Crossword
4. Homework – complete AFM Case 3-1
Week 12
4/14-4/20 / Enron Week (accounting, audits, fraud, business, work culture, ethics, life) / 1. Forum - participate in the Enron Forum
2. Special - view “Enron, The Smartest Guys in the Room”
3. Homework - complete Enron Week Assignments
Week 13
4/21-4/27 / CH 5: Cost Considerations
(Activity Based Costing and a small business case) / 1. Forum - participate in the CH 5 AFM Forum
2. Summary - read CH 5 AFM and prepare a 1 pg summary
3. Crossword – complete AFM PG 152 Crossword
4. Homework – complete AFM Case 5-1
Week 14
4/28-5/4 / ACC 216 Final Project =
My Accounting Handbook / 1. Forum - participate in the Final Project Forum
2. Final Project - complete Final Project, “My Accounting Handbook”
Week 15
5/5-5/8
/ CH 4 Accounting for Entity Capitalization
CH 6 Budgeting
CH 7 Control and Evaluation / 1. Forum – optional Closing Forum
2. Summary - read Chapters 4, 6 and 7 in AFM and prepare three 1 pg summaries
Note: This syllabus is not a contract: it is a plan for the course. Each course and each group of students is unique. We may do more or less work than is outlined above. Total points in the course may be altered to reflect the dynamics of our class.