COLLEGE OF THE DESERT Course Code: BUAC-001A
Course Outline of Record
1.Course Code:BUAC-001A (formerly BUAC-001)
2.a.Long Course Title:Financial Accounting I
b.Short Course Title:FINANCIAL ACCTG I
3.a.Catalog Description:This course expands upon basic fundamentals of the double entry accrual accounting system. It includes accounting for service and merchandising enterprises with special emphasis on receivables, payables, inventories, plant asset depreciation methods, internal controls, payroll and other sub-systems.
b.Schedule Description: Emphasizes accounting procedures for small merchandising businesses.
c.Semester Cycle (if applicable):
4. / Total Units: / 3 / Total Semester Hrs: / 54Lecture Units: / 3 / Semester Lecture Hrs: / 54
Lab Units: / 0 / Semester Lab Hrs: / 0
5.Prerequisite or Corequisite Courses or Advisories:
Prerequisite: BUAC-066 or demonstrated competence in basic bookkeeping
Corequisite:None
Advisory:None
6.a.Textbooks, Required Reading or Software: (List in APA or MLA format.)
Heintz, J. A. & Parry, R. W. (2005). College Accounting. (18th ed.). Cincinnati, Ohio: South-Western Thomson Learning. ISBN #0-324-20147-8
Heintz, J. A. & Parry, R. W. (2005). College Accounting. Stdy Guide/Working Papers (18th ed.). Cincinnati, Ohio: South-Western Thomson Learning. ISBN #0-324-22183-5
b.Textbook Reading Level:
College Level: Yes No
Flesch-Kincaid reading level: 12.0
7.Entrance Skills: Before entering the course students must be able:
a. Demonstrate competence in all steps of the accounting cycle.
b.Perform bank reconciliations
c.Calculate basic payroll solutions and make necessary journal entries relating to payroll expenses and liabilities.
d.Understand the differences between the 3 basic accounting methods: Cash, modified cash, and accrual.
8.Course Content and Scope:
a.Accounting for sales and cash receipts
i.Merchandise sales transactions
ii. Merchandise sales accounts
iii.Journalizing and posting sales transactions
iv. Journalizing and posting cash receipts
v. Schedule of accounts receivable
b.Accounting for purchases and cash payments
i. Merchandise purchase transactions
ii. Merchandise purchase accounts
iii.Journalizing and posting purchases transactions
iv.Journalizing and posting cash payments
v. Schedule of accounts payable
3.The voucher system
i. Internal control of expenditures
ii. Preparing and voucher and the voucher register
iii.Payments using the voucher system
iv. The check register
4.Adjustments and the worksheet for merchandising firms
i. Adjustment for inventory
ii. Adjustment for unearned revenue
iii.Preparing the worksheet
5.Year-End accounting for merchandising firms
i. The Income statement
ii. The statement of owner's equity and balance sheet
iii.Financial statement analysis
iv. Closing and reversing entries
6.Accounting for accounts receivable
i. Allowance method
ii. Estimating and writing off uncollectibles
iii.Direct write-off method
7.Accounting for notes and interest
i. The promissory note
ii. Calculating interest and the due date
iii.Notes receivable and payable transactions
8.Accounting for merchandise inventory
i. Periodic and perpetual systems
ii. Assigning cost to inventory and cost of goods sold
iii.Estimating inventory without counting units
9.Accounting for long term assets
i. Acquisition cost of plant assets
ii. Depreciation methods
iii.Repairs, additions, and improvements to plant assets
iv.Disposal of plant assets
v. Accounting for natural resources and intangible assets
9.Course Objectives:
a.Complete the accounting cycle for merchandising enterprises.
b.Understand reversing entries and unearned revenue.
c.Demonstrate competence in handling complex transactions in these areas: Accounts receivable, inventory valuation, notes payable and receivable, plant asset acquisition, depreciation, and disposal.
10.Student Learning Outcomes:
11.Methods of Instruction: (Relate instructional methods to course objectives.)
Lecture and demonstration by instructor, with in-class practice, including feedback, coaching, and evaluation by the instructor; online format.*
*Distance Education modalities approved 10/18/07
12.Assignments: (List samples of student learning activities)
a.Readings in the textbook and in recommended supplementary literature.
b.Attendance of lectures and occasional guest speakers, including the taking of detailed notes.
c.Examinations of various types, such as essay and multiple choice.
13.Methods of Evaluating Student Progress: (How will you measure whether students achieve the learning objectives?)
a.Review of homework assignments
b.Multiple-choice examinations
c. Short quizzes
d. Group problem-solving situations
eComprehensive end-of-semester problem
14.Credit Status:
Degree Credit
Non Degree Credit
Noncredit
15.Transfer Status: this course is already transferable to both CSU and UC
a.Would you like this course to transfer to the CSU system?
Yes No
b. .Do you wish to propose this course be included on the UC Transfer Course List?
Yes No
16.General Education:
a.Do you wish to propose this course be included on the COD GE Requirement list?
Yes No
If you answered “yes” indicate proposed Area/#:
b.Do you wish to propose this course be included on the CSU GE Requirement list?
Yes No
If you answered “yes” indicate proposed Area/#:
c.Do you wish to propose this course be included on the IGETC list?
Yes No
If you answered “yes” indicate proposed Area/#:
17.Special Materials and/or Equipment required of students:
None
Faculty Initiator: Mike ManisDate: 10/31/05
COURSE CHARACTERISTICS
(Required of all courses) SIU’s: 3
18. New Course
Substantial/Major Modification - Proposed change(s):
Minor Modification - Proposed change(s): Change course code from: BUAC-001to: BUAC-001A; change course title from: Accounting Ito: Financial Accounting I
19.Provide reasons for the substantial modifications or new course:
20. Cross-Listed (EnterCourseCode):
Replacement Course (Enter original Course Code) BUAC-001, Accounting I
21.GRADING METHOD (choose one:)
Letter Grade [A,B,C,D, F and W. Letter grades are used in calculating GPA]
Credit/No Credit [CR, NC. Credit/No Credit grades are not used in calculating GPA but are used in the determination of Academic and Progress Probation status.)
Student Option (Student may choose LetterorCredit/No Credit grading option.)
22.MIS COURSE DATA ELEMENTS
a.T.O.P Code [CB03] : 0502.00
b.Basic Skills Status [CB08]: Precollegiate Basic Skills Basic Skills Not Basic Skills
c.Vocational Status [CB09]:Apprenticeship Adv. Occupational Clearly Occupational
Possibly Occupational Non-Occupational
d.Course Classification [CB11]: Occupational Education
e.Repeatability [CB12]: May be repeated 0 times (other than for unsatisfactory grade)
State reason why course may be repeated:
f.Course Prior to College Level [CB21]: N/A(For English, writing, ESL, reading or mathematics courses only.)
g.Course Noncredit Category [CB22]: N/A(For noncredit courses only.)
h.Course CAN Code [CB14]:
Date Applied: Date Approved:
i.Work-Based-Learning-Activities [XB09]: Yes No
23.STAND-ALONE COURSE CHECKLIST (check appropriate responses below):
Is this course part of an Approved Program? Yes No
Name of Approved Program: Accounting, Business Administration, CIS, Economics, General Business,
Hotel/Restaurant Mgmt,
(Degree, Certificate)
Where does this course fit in the program? Required and Elective
(Attach listings of Degree and/or Certificate Programs showing this course as a required or a restricted elective.)
*For a Stand-alone Course, complete the Application for Approval of Credit Course Form to be submitted to the Chancellor’s Office for approval.
Student Learning Outcomes Defined
Course Title: Financial Accounting 1
Date: January 26, 2009
Course Number: BUAC-001A
OAC Review Date: 2/10/09
Faculty Originator: Joel Glassman
OAC Approved Date: 2/10/09
Student Learning Outcomes
Upon successful completion of this course, students will be able to:
1.Apply the basic and specialized concepts and techniques used in the accounting process and complete all steps of the accounting cycle for a merchandising business.
CCForm#1 Page 1 Approved: 12/1/2005