OCEAN COUNTY COLLEGE
Professor’s Syllabus
Professor’s Name: M. KARL KLEINER (ASSOCIATE PROFESSOR)
Associate Professor
B.A. Rutgers University
M.B.A. Fairleigh Dickinson University
M.Ed Rutgers University
Course Title: ACCT 161 – Principles of Accounting I
Course Description: This course begins with the accounting cycle of a service company. It continues with topics concerning merchandising operations, inventory, cash, and accounts receivable, property, plant, equipment; and intangible asset acquisition, allocation, and disposal.
Semester: Spring 2013
Office Location: Instructional Building, Room 313
Phone Number: (732) 255-0400, Ext. 2219
E-Mail Address:
Office Hours: Southern Education Center: 11:30 a.m. – 12:30 p.m. Monday/Thursday
Toms River Campus: 1:00 – 2:00 p.m. Tuesday/Friday 4:00 – 5:00 p.m. Monday/Wednesday
Other Meeting Times: To arrange a meeting with your instructor in addition to the regularly scheduled office hours, please contact your instructor directly or contact the Department of Business Studies at (732) 255-0390 or at .
Required Text and Other Materials: Accounting Principles, 10th edition, by Weygandt, Kimmel, Kieso, and WileyPlus Set.
Course Learning Outcomes/Objectives:
During the course of study, students will develop an understanding of accounting and its importance on the decision-making process and the establishment of ethical standards in the business world. Students will develop skills through practice of accounting procedures and the use of accounting terminology. At the conclusion of the course, students will be able to:
A. Record transactions in general journal and special journals.
B. Prepare financial statement including multiple-step income statement and classified balance sheet.
C. Journalize adjusting and closing entries.
D. Prepare 10-column worksheet.
E. Compute inventory values using both periodic and perpetual systems.
F. Reconcile cash accounts.
G. Recognize, value and record the disposal of receivables, natural resources, and property plant and equipment.
H. Evaluate a business situation to determine the ethical issues.
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I. Use a computerized accounting system to solve accounting problems.
J. Evaluate internal control system.
General Education Goals Addressed in the Course:
· To develop the ability to become an independent thinker through mathematical, scientific, and philosophical reasoning.
· To develop the ability to communicate effectively through reading, listening, speaking, and writing.
· To develop the ability to solve problems by collecting, organizing, and evaluating information.
· To develop both the ability and moral sensitivity needed to make informed judgments concerning ethical issues.
· To develop an understanding of the concepts, theories and fundamental principles of the natural and social sciences.
· To develop an understanding of the aesthetic and intellectual experience of literature and the arts and appreciate creative expression.
· To develop a historical consciousness, including the ability to reflect thoughtfully and accurately about historical and contemporary issues of local, national, and global importance.
· To develop an understanding and appreciation of diversity among cultures, including respect for various ways of viewing the world.
· To develop a global perspective on problems and issues that humankind faces, and to explore solutions which are morally, socially, economically, politically, and ecologically sound.
· To develop the understanding of health and well being necessary to confront the challenges facing individuals, families and communities.
· To develop and demonstrate civic and social responsibility.
· To develop an understanding of technology and its impact on society and the environment.
· To foster the curiosity, creativity and desire to become autonomous learners for life.
Course Standards: Students will be expected to be on time for classes. Classes will commence and end at the established time. Students who are late or absent should make their own arrangements for any lecture material(s), notes, etc. missed.
Attendance Policy: Each student will be expected to attend all class meetings. The maximum number of absences will be dealt with in accordance to the college’s Academic Standards policy.
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Academic Achievement: Final grade will be based on the following:
Examinations and quizzes: 85%
Assignments and class participation: 15%
There will be eight examinations. A cumulative test will be given at the end of the semester.
Each chapter will be tested individually with the exception of chapters 1 and 2 (one test) and chapters 3 and 4 (one test). Make-up exams will be given if a valid excuse is provided for the student’s absence.
Grading Scale:
A = 90%+ Excellent
B+ = 85 to 89% Very Good
B = 80-84% Good
C+ = 75 to 79% Above Average
C = 70 to 74% Average
D = 60-69% Passing-Below Average
F = 59 and below Failure
Course Outline:
Chapter: Subject (Number)/Assignments (Attached)
Accounting in Action (1)
Recording process (2)
Adjusting the Accounts (3)
Completion of the Accounting Cycle (4)
Accounting for Merchandising Operations (5)
Inventories (6)
Accounting Information Systems (7)
Fraud, Internal Control and Cash (8)
Accounting for Receivables (9)
Plant Assets, Natural Resources, & Intangible Assets (10)
Statement of Plagiarism: Students should refer to the student handbook and review Policy #5180. This policy states that there is to be no cheating on our tests or on projects.
Statement about Civility: Ocean County College defines civility primarily as the demonstration of respect for others, basic courtesy, reciprocity (treating others as we wish to be treated), and behaviors that create a positive environment in which to learn and to work. [See www.ocean.edu/civility.htm]
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Campus Resources and Services: Tutoring is available [a] in the Writing Center for writing assignments in all subject areas, not just English courses, and [b] in the Mathematics Tutoring Center. Tutoring information for all other subjects can be found on the Tutoring page on the college website. In addition, Study Strategy Seminars are scheduled each week and are posted on the college website under “Academics.” More information on college services can be found by using the A-Z index on the college website (for example, under “T” for Tutoring or under “S” for Study Strategy Seminars).
Statement of Accommodation: If there is any student in this class who has special needs because of learning disabilities or other kinds of disabilities, please feel free to come and discuss this with me or a staff member in the Center for Academic Excellence.
Disclaimer: Individual faculty members may make reasonable changes to this course outline exclusive of course requirements, course calendar, and grading procedures.
All individuals should not assume that anything received, sent, or stored in this course or in any course is private. Students’ written work, assignments, and test results may be used anonymously for college assessment purposes. Course content, support materials, and communications (including chats, discussions, emails, and any other forms of communication) may be used for quality assurance purposes by authorized college administrators.
Important Notes
Ocean Cruiser is the official email communication for students at OCC ()
Failure to pay for this course may result in your being dropped for non-payment.
The course withdrawal deadline for Spring 2013: April 5, 2013
ACCOUNTING I – FALL 2012
Demonstration Assignment / WileyPlus *
Chapter 1 / P1-2B / P1-2A *Chapter 2 / P2-3B / P2-3A *
Chapter 3 / P3-2B / Exercise 3-7
Exercise 3-9
Problem 3-2A *
Chapter 4 / P4-3B / Exercise 4-2
Exercise 4-14
Problem 4-3A *
Chapter 5 / P5-2B / Exercise 5-9
Problem 5-2A *
Chapter 6 / P6-1B
P6-2B
P6-4B / Exercise 6-9
Exercise 6-13
Exercise 6-19
Exercise 6-20
P6-1A *
P6-2A *
P6-4A *
Chapter 7 / P7-3B / P7-3A *
Chapter 8 / P8-1B
P8-2B
P8-3B / Exercise 8-8
P8-1A *
P8-2A *
P8-3A *
Chapter 9 / P9-1B
P9-2B
P9-3B / Exercise 9-12
Exercise 9-14
P9-1A *
P9-2 A*
P9-3A *
Chapter 10 / P10-1B
P10-2B
P10-6B / Exercise 10-2
Exercise 10-15
P10-1A *
P10-2A*
P10-6A *