ACCT 101FUNDAMENTALS OF ACCOUNTING I
Monday & Wednesday, 5:00-7:30pm
SYLLABUSFALL 2009
Mr. Michael J. Farina, CPA, MBA
· Office: SS20. Office phone: (562) 8602451, #2730.
· Office hours: Monday & Wednesday, 3:004:00pm; Thursday, 2:30-3:30pm.
· Email: Website: http://www.cerritos.edu/mfarina
· ACCT 2T, Accounting Tutorial (recommended): Class #23524. I will have tutorial sessions on Monday & Wednesday, 4:00-5:00pm and Thursday, 5:00-7:00PM.
COURSE DESCRIPTION
This course introduces the student to financial accounting for corporations. Course material includes preparation of financial statements; accounting for merchandising businesses; controls over cash; accounting for inventories and property and equipment; and debt and equity financing by corporations. The prerequisite to the course is completion of ACCT 100 or equivalent with a grade of "C."
STUDENT LEARNING OUTCOMES
1. Define and use accounting and business terminology.
2. Record transactions for current asset, plant asset, current liability, and long-term liability accounts.
3. Prepare an income statement, retained earnings statement, and balance sheet for a corporation.
4. Record transactions to issue common stock, repurchase common stock, and declare and pay dividends.
TEXT
Wild, Shaw, Chiappettta, “Financial and Managerial Accounting: Information for Decisions,” Third Edition, McGraw-Hill. Accompanying work papers are optional. Students will need to purchase an access code for Homework Manager if buying a used text. Students will also need seven scantron forms (form #886E).
GRADING
Students may earn points as follows:
Two examinations @ 50 points each 100
Final examination 50
Six online homework assignments @ 6 points each; lowest dropped 30
Six pre-quizzes at three points each; lowest dropped 15
Six quizzes @ 15 points each; lowest dropped 75
Group work – QuickBooks assignment 20
Total points possible 290
Grading will be as follows:
90% + = A
8089% = B
6779% = C
5566% = D
Below 55% = F
ON-LINE HOMEWORK ASSIGNMENTS
Students will be required to complete certain problems from the text using Homework Manager. These problems must be completed by the due date no later than 11:55PM Eastern time (8:55PM Pacific time). These problems, and the deadline dates, follow.
HW # / ASSIGNMENT / Due Date1 / PR 2-1A, PR 2-2A, PR 2-6A, PR 3-1A, PR 3-2A, PR 3-5A / 9/2
2 / PR 4-1A, PR 4-4A, PR 4-5A, PR 5-1A, PR 5-2A, PR 5-8A(B) / 9/21
3 / PR 6-4A, PR 6-5A, PR 7-1A, PR 7-3A, PR 7-4A, PR 7-5A / 10/7
4 / PR 8-4A, PR 8-5A, PR 8-7A, PR 9-1A, PR 9-2A, PR 9-5A / 10/26
5 / PR 10-2A, PR 10-3A, PR 10-5A, Ex. 11-2, PR 11-1A, PR 11-2A / 11/16
6 / PR C-2A, Ex. 12-1, Ex. 12-2, Ex. 12-6, PR 12-1A, PR 12-4A / 12/9
PRE-QUIZZES
Six pre-quizzes containing various fill-in answers, calculations, and short essays will be administered. These pre-quizzes may found on my website. The due dates are shown in the Schedule of Activities on page 3 of this syllabus.
QUIZZES
Six quizzes containing 30 objective and short answer questions will be administered. Each quiz covers two or three chapters. Quizzes may not be made up unless arranged in advance.
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GROUP WORK
Students will be assigned to small groups and complete a comprehensive review problem using QuickBooks software. I will distribute guidelines for this project before work commences.
EXAMINATIONS
There are three examinations, including the final examination. The examinations consist primarily of problems similar to those worked in class or in the homework assignments. The exams are graded on a partial credit basis. Additionally, each examination contains one essay question. Possible topics for the essay question will be discussed in class. The essays are graded primarily for content; however, grammar, punctuation, and spelling will be considered a part of the grade assigned. Should a student miss either examination #1 or examination #2 for any reason, the student will take a comprehensive final examination; the student's score on this comprehensive final examination will be counted twice in order to make up for the examination missed.
ATTENDANCE
Students are expected to attend class regularly. If a student misses class, it is the student's responsibility to determine what he or she missed. The last day to withdraw with a grade of “W” is November 20, 2009.
SCHEDULE OF ACTIVITIES
Date Activities
Aug. 17 Course introduction. Discuss Chapter 1. PR 1-7B, PR 1-6B, PR 1-5B.
Aug. 19 Ex. 1-6, Ex. 1-8, Ex. 1-4, Ex. 1-2. Ch. 2: Ex. 2-1, 6, 4.
Aug. 24 PR 2-1B; Ex. 2-10, Ex. 2-11, Ex. 2-12. PR 2-2B, PR 2-6B (journal entries only).
Aug. 26 QS 3-1, QS 3-2, QS 3-4, QS 3-5, QS 3-6, QS 3-7. Ex. 3-1, 2, 3, 4. PR 3-1B.
Aug. 31 PR 3-2B. Ex. 3-6, Ex. 3-11, and QS 3-17.
Sept. 2 Pre-quiz #1 due; Quiz #1 (Chapters 1, 2 and 3).
Sept. 7 HOLIDAY
Sept. 9 Ex. 4-3, 1, 2, 6, PR 4-1B.
Sept. 14 PR 4-2B, PR4-5B, Ex. 4-12. QS 4-4, 4-5.
Sept. 16 Ex. 5-1, Ex. 5-2, PR 5-1B, PR 5-8B(B), Ex. 5-5, Ex. 5-7.
Sept. 21 Pre-quiz #2 due; Quiz #2 (Chapters 4 and 5).
Sept. 23 EXAMINATION #1 (Chapters 1-5).
Sept. 28 Ex. 6- 8, 9, 10 and 6. PR 6-4B, PR 6-5B. Ex. 6-4. Ex. 6-1, 2.
Sept. 30 Ex. 7-3, PR 7-1B. Ex. 7-4, 5 and 6. PR 7-2B.
Oct. 5 PR 7-3B, PR 7-4B. Ex. 7-10, 11, and PR 7-5B. Ex. 7-13.
Oct. 7 Pre-quiz #3 due; Quiz #3 (Chapters 6 and 7).
Oct. 12 Ex. 8-1, 8-2, and Ex. 8-4 through 8-11. PR 8-5B.
Oct. 14 QS 8-7, Ex. 8-15. Ex. 8-17, PR 8-4B. Ex. 8-18, 19 and 20, 22. PR 8-7B.
Oct. 19 Ex. 9-4, 5 and PR 9-1B. Ex. 9-2. PR 9-2B. Ex. 9-11(A), PR 9-5B.
Oct. 21 Pre-quiz #4 due; Quiz #4 (Chapters 8 and 9).
Oct. 26 EXAMINATION #2 (Chapters 6-9).
Oct. 28 Handout: accounting for bonds payable. Ex. 10-1, 2, 4, and 8. QS 10-1.
Nov. 2 PR 10-2B, PR 10-3B, P 10-5B. Ex. 10-11. Ex. 10-15. QS 10-10.
Nov. 4 QS 11-1, QS 11-2, QS 11-3, QS 11-4, QS 11-5, QS 11-6, Ex. 11-3, Ex. 11-4.
Nov. 9 PR 11-1B. QS 11-7, QS 11-8. QS 11-9, Ex. 11-9. Ex. 11-6.
Nov. 11 HOLIDAY
Nov. 16 Ex. 11-10. PR 11-2B. PR 11-3B. Ex. 11-13, Ex. 11-14, Ex. 11-15.
Nov. 18 Pre-quiz #5 due; Quiz #5 (Chapters 10 and 11).
Nov. 23 Appendix C: Ex. C-2, C-3, C-4. QS C-9, Ex. C-9. PR C-2B.
Nov. 25 QS 12-2. Ex. 12-4, Ex. 12-9, Ex. 12-1, PR 12-7B.
Nov. 30 PR 12-4B, PR 12-1B.
Dec. 2 Work on group project.
Dec. 7 Pre-quiz #6 due; Quiz #6 (Ch. 11 and 12).
Dec. 9 Review for final examination. Group project due.
Dec. 14 FINAL EXAMINATION (Chapters 10, 11, 12 and Appendix C)
POLICY STATEMENT
It is students' responsibility to attend all of their classes. If they miss a class meeting for any reason, students are responsible for all content that is covered, for announcements made in their absence, and for acquiring any materials that may have been distributed in class. It is expected that students be on time for all their classes. If students walk into a class after it has begun, it is expected that they choose a seat close to where they entered the room so that they do not disrupt the class meeting. Students are expected to follow ordinary rules of courtesy during class sessions. Engaging in private, side conversations during class time is distracting to other students and to the instructor. Disruptive behavior of any type, including sharpening pencils during class while someone is speaking, is not appropriate. Please turn off cell phones before the class begins. The college welcomes all students into an environment that creates a sense of community pride and respect; we are all here to work cooperatively and to learn together.
Excessive absences, unsatisfactory progress, undesirable citizenship, falsification of work, or allowing others to copy your work may serve as a basis for a failing grade and/or dismissal from class. The college and I take academic honesty issues very seriously. I expect ethical behavior, integrity, and proper behavior inside the classroom. Students who commit academic dishonesty will be dealt with according to the college’s academic honesty policy, a copy of which may be found on pages 135-136 of the fall 2009 class schedule. Sharing of calculators, or use of cell phones, is not allowed during tests.
HOW TO BUY AN ACCESS CODE
If you purchased a new textbook, it will have an access code included and you may ignore the following instructions. If you purchased a used text, please use the following instructions to purchase an access code.
· Go to: http://www.mhhe.com/wildfinman3e
· Click on the McGraw-Hill Homework Manager logo
· Click on “McGraw-Hill’s Homework Manager” in the “Register or Purchase Access” light brownish-green box
· Click on “I am a student”
· Click on “Buy online”
· Enter your email address at the bottom of the screen where indicated
· Click the “Select” button for the “$40 USD” access code.
· Follow on-screen instructions.
HOW TO REGISTER AS A STUDENT ON HOMEWORK MANAGER
· Go to http://mh2.brownstone.net/classes/mfarina101fa09/
· Click on “Register as a Student”
· Enter Registration code
· Complete the required information. The password and login are case-sensitive.
· Remember to write down your login and password and keep in a safe place.
· Click OK when complete
· Confirm that the information entered is correct and click OK.
HOW TO ACCESS HOMEWORK MANAGER TO COMPLETE HOMEWORK
Homework assignments are listed under “Online Homework Assignments” on page 2. These assignments must be completed using Homework Manager by 11:55PM Eastern time (8:55PM Pacific time) on the due date.
NOTE: Homework assignments have unlimited attempts and only the best score is recorded.
Each question will be given one at a time.
· Go to http://mh2.brownstone.net/classes/mfarina101fa09/
· Select an Assignment Name.
· A new window opens
· Enter your Login and Password (password and login are case-sensitive).
· Choose either “Print assignment for off-line work” or “Work assignment on-line right now.” (Note: If you print the assignment for off-line work, you will still need to login to HW Manager to enter your answers online.)
· Fill in the answers in the boxes provided.
· To check for errors without submitting your work, click on the “How am I doing?” link located toward the top of the page.
· Click “Next” to go to the next problem.
· When all questions are completed, click “Grade.” (Note: Incomplete assignments can be saved and worked on later by clicking “Save my work” or “Quit and save.”)
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