For Academic Year 2017-2018
COURSE SYLLABUS
Syllabus for: ACCT 1010 Principles of Accounting I
Former Course(s): ACT 231 and ACT 232 (Quarter); ACT 2310 (Semester)
Catalog Description: This course is an introduction to accounting principles, practices, and techniques with an emphasis on the preparation and reporting of financial statements.
Credit Hours: 3 Contact Hours: 3 Lab Hours: 0
Prerequisite(s): none.
Required Text(s): Accounting, Warren, Reeve, & Duchac, 27th edition with CNOW online access code, South-Western Cengage Learning.
Required Supplies/Material(s): none
Recommended Supplementary Material(s): none
Student Group for Whom Course is Required/Intended: This course is intended for students pursuing the following degrees and programs of study.
Associate of Science/Arts Degree, Tennessee Transfer Pathways: Accounting, Business Administration, Economics, and Information Systems.
Associate of Science/Arts Degree, University Parallel: Areas of Emphasis in Business Education, Entrepreneurship, and Office Management.
Associate of Applied Science, Business Major: Concentrations in Accounting, Business Computer Applications, Business Computer Programming, and Management.
Student Learning Outcomes: Upon completion of this course, students will demonstrate the ability to:
1. Describe and illustrate accounting concepts for planning, controlling, and analyzing business operations.
2. Describe and illustrate the basic accounting concepts for recording, classifying, and summarizing business transactions on a day-to-day basis.
3. Illustrate the basic procedures for adjusting, closing entries, and summarize the accounting records prior to the preparation of the financial statements.
4. Describe and illustrate the preparation of financial statements.
5. Describe and illustrate procedures for recording purchases and sales transactions for a merchandising enterprise.
6. Identify and describe the two principal inventory systems and the inventory costing under FIFO, LIFO, and Average Cost.
7. Understand the nature of cash and importance of controls over cash.
8. Describe and illustrate the allowance method of accounting for uncollectible receivables.
9. Describe the characteristics of plant assets and illustrate the accounting for the acquisition and disposal of plant assets.
10. Describe the nature of depreciation, depletion, and amortization and illustrate the accounting for each item.
11. Describe and illustrate accounting for payroll, including liabilities, arising from employee earnings, deductions from earnings, employer's payroll taxes, and employee's fringe benefits.
Final Grading Plan: The grading scale for all examinations and the final course grade will be based on the following percentages:
A = 90 - 100%
B = 80 - 89%
C = 70 - 79%
D = 60 - 69%
F = 0 - 59%
Suggested Evaluation Plan:
Task / Weight / Student Learning Outcomes /Exam 1 (Chapters 1-3) / 20% / 1 - 3
Exam 2 (Chapters 4, 6-7) / 20% / 4 - 6
Exam 3 (Chapters 8-9) / 20% / 7 - 8
Exam 4 (Chapters 10-11) / 20% / 9 - 11
Homework / 10% / 1 - 11
Quizzes/Project/Daily Grade / 10% / 1 - 11
Instructional Schedule:
Week / Student Learning Outcomes /Content to be Covered
/ Suggested Assignments Due /1
/ 1 /Introduction to the course
Chapter 1 – Introduction to Accounting & Business
/Read Chapter 1 Homework and/or Quiz as assigned
2
/ 2 /Chapter 2 – Analyzing Transactions
/Read Chapter 2Homework and/or Quiz as assigned
3
/Continue Chapter 2
/4
/ 3 /Chapter 3 – The Adjusting Process
/Read Chapter 3Homework and/or Quiz as assigned
5
/ 1-34 /
Exam 1 (Ch. 1-3)
Chapter 4 – Completing the Accounting Cycle /Read Chapter 4Homework and/or Quiz as assigned
6
/Continue Chapter 4
/7
/5
/Chapter 6 – Accounting for Merchandising Businesses
/Read Chapter 6Homework and/or Quiz as assigned
8
/ 6 /Continue Chapter 6
Chapter 7 - Inventories
/Read Chapter 7Homework and/or Quiz as assigned
9
/ 4-6 /Continue Chapter 7
Exam 2 (Ch. 4, 6 – 7)
/10
/ 7 /Chapter 8 – Sarbanes-Oxley, Internal Control, and Cash
/Read Chapter 8Homework and/or Quiz as assigned
11
/ 8 /Chapter 9 - Receivables
/Read Chapter 9Homework and/or Quiz as assigned
12
/ 7-8 /Continue Chapter 9
Exam 3 (Ch. 8 – 9)
/13
/ 9-10 /Chapter 10 – Fixed Assets & Intangible Assets
/Read Chapter 10Homework and/or Quiz as assigned
14
/ 11 /Chapter 11 – Current Liabilities and Payroll
/Read Chapter 11Homework and/or Quiz as assigned
15
/ 9-11 /Final Exam (Ch. 10 – 11)
/