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1 Harrisburg Area Community College Business, Hospitality, and Tourism Business May 26, 2015 to August 13, 2015 Summer I: Online Course Principles of Accounting I ACCT 101-V03 CRN 4617 COURSE URL: COURSE SYLLABUS WELCOME Welcome to Principles of Accounting online! You do not need to be a computer wizard to take this online course, but you will need to install one or more "plug-ins" on your computer and you may need to adjust some of your Internet browser settings in order to use the accounting software. Please purchase your materials and follow the installation guidelines as soon as possible so that you will be ready to begin the course on May 26. One of the most important elements for success in this course is good time management. Perhaps, you are already aware that it can be extremely difficult to catch up once you fall behind. To guide you in your online study, a detailed calendar is provided so you know exactly what lessons, assignments and exams you need to complete each week. Please do not hesitate to contact the instructor for help at any time during the semester. INSTUCTOR Tammy B. Yost Adjunct Faculty

2 ( turn-a-round time two business days) ext Office Hours: Anytime by phone; virtual T, TH 6:30pm-7:30pm: If you have any questions or concerns at any point during the course, please do not hesitate to contact myself or if it is technical issues with Blackboard, please visit the Technical Frequently Asked Questions website. This website contains information about numerous software products and the contact information for the HACC HelpDesk. COURSE DESCRIPTION Participants will complete 13 weeks of Principles of Accounting 101; introduction to generally accepted accounting principles as they pertain to external financial reports. The accounting cycle, accounting systems, theories and policies relative to asset valuation, liability measurement, and income determination are presented. Emphasis is placed on accounting from sole proprietorships and partnerships. Minimum Grade Required Prerequisites: None Digital Description: Credit hours: 4.0 Lecture hours: 4.0 Lab hours: 0.0 Holidays: Fourth of July STUDENT LEARNING OUTCOMES Upon successful completion of the course the student will be able to: 1. Describe the opportunities and challenges that come with a career in accounting 2. Explain the role of ethics in financial reporting 3. Describe a chart of accounts and its use in the accounting process 4. Record business events using the accounting equation 5. Use journal entries to adjust the accounts to reflect accruals and deferrals 6. Analyze and recommend improvements to internal control systems based on established principles 7. Record and report on inventory transactions using a perpetual system 8. Explain how gains and losses differ from rervenues and expenses 9. Compare and contrast single and multi-step income statements

3 10. Determine the amount net sales and net purchases 11. Calculate cost of goods sold and ending inventory using different cost flow assumptions. 12. Apply lower -of-cost-or-market rule to inventory valuation 13. Prepare a bank reconciliation 14. Differentiate between forms (corporation and sole proprietorship) of organization for business 15. Explain the accounting principles and reporting of the allowance method for accounting for doubtful accounts and how it affects financial statements 16. Account for notes receivable, notes payable and accrued interest 17. Explain how credit card sales affect the financial statements 18. Determine how to record the acquisation and use of long-term assets 19. Determine how gains and losses on the disposal of long-term assets affect the financial statements 20. Show how changes in estimates and continuaing expenditures for long-term assets affect the financial statements 21. Illustrate the effect of warranties on the financial statements 22. Determine payroll taxes and demonstrate how they affect the financial statements 23. Record transactions using the general journal format and show their effect on the financial statements 24. Use a trial balance to prepare financial statements and interpret what they mean Planned Sequence of Learning Activities Accounting as the Language of Business Analyzing Tramsactions, Recording and Summarizing Journal Entries Accounting for Merchandising Operations Inventories and Cost of Sales Accounting Information Systems Cash and Internal Control Accounting for Receivables Plant Assets, Natural Resources, and Intangible Current Liabilities and Payroll Accounting EXPECTATIONS Attendance: To fulfill the attendance requirements and to be successful in this course, you will be expected to log into Principles of Accounting 101 at least 3-4 times a week to stay connected with the class, complete assignments, and keep up with discussions and

4 other communications. The determination of what constitutes an excused versus an unexcused absence shall be made by the instructor in accordance with Attendance Policy 661. Course Communication: The instructor will login every business day throughout the 13 week period to provide feedback and respond to communications. If you have questions related to course content that are not of a personal/individualized nature, please post them to the Questions for Instructor discussion area on the course home page. Please do not use for these types of questions as the answers to these questions will be relevant to all course participants. Textbook: "Fundamental Accounting Principles, John J. Wild, Ken W. Shaw, and Barbara Chiappetta, 21st Edition, Irwin McGraw-Hill Publishing, ISBN Homework: Videos/Learning Modules/Quick Study/Exercises/Problems /Chapter Exams/Tri-Term Exams STUDENT EVALUATION Students will be required to complete the first 12 chapters of Principles of Accounting 101. The related homework consists of video Presentations, exercises, problems and Learning Modules located in McGraw Hill Connect. Chapter exams and Tri-Term Exams will also be located in Mcgraw Hill Connect. All late exams are assessed a 10% reduction per day and can be reviewed a week after due date. The tests will not need to be proctored and can only be taken once. The six discussions can be completed at Hacc.desire2learn under the Discussion Tab and the Bean Counter Lounge/Blog is located at the homepage. Discussions and blog will have minimal participation from

5 instructor. The breakdown consists of: Tri-Term 1(chapters 1-4); 150 points Tri-Term 2(chapters 5-8); 150 points Tri-Term 3(Cumulative with emphasis on chapters 9-12); 150 points 45% of grade 450 points possible Chapter Quizzes (12 quizzes; 17 or 16 points each) 20% of grade 200 points possible Discussion Board Postings (6 discussions; 25 points each) 15% of grade 150 points possible Total Homework 10% of grade 100 points possible Bean Counter Blog 10% of grade 100 points possible 1000 points possible FINAL COURSE GRADES Please note: Discussions, homework and the bean counter blog are graded on participation and points awarded one week before the final. Chapter quizzes and tests are graded on correctness and points awarded immediately. Course grades will be calculated as follows: Grading Scale points A points B points C

6 ccounting 101 Syllabus points D points F This is not graded on a plus/minus scale POLICIES Academic Dishonesty Policy: It is Harrisburg Area Community College s policy that any Academic Dishonesty will incur a penalty up to expulsion from the college. Any student who cheats, plagiarizes, lends unauthorized assistance to others, hands in a completed assignment that is not his or her work, and falsifies one s own work or another s college materials will be sanctioned. The instructor will follow HACC s guidelines to Academic Dishonesty Policy. Course Drop/ Withdrawl Policy: The instructor may reduce course grades after unexcused absences exceed 10% of the total class hours that will take place throughout the 12 week period. Grades awarded a W, I, or Y. will be granted by the responsible party. The instructor will follow HACC s guideline to Course Drop/Withdrawl policy. Make-Up Work/Late Make-Up work and late assignments are allowed only with prior consent from the instructor. Extra-Credit: There is no extra credit in this course. Syllabus Changes: Instructor has the right to change syllabus. EEOC/PHRC Syllabus RequirementEEOC POLICY 005: It is the policy of Harrisburg Area Community College, in full accordance with the law, not to discriminate in employment, student admissions, and student services on the basis of race, color, religion, age, political affiliation or belief, gender, national origin, ancestry, disability, place of birth, General Education Development Certification (GED), marital status, sexual orientation, gender identity or expression, veteran status, genetic history/information, or any legally protected classification. HACC recognizes its responsibility to promote the principles of equal opportunity for employment, student

7 admissions, and student services taking active steps to recruit minorities and women. The Pennsylvania Human Relations Act ( PHRAct ) prohibits discrimination against prospective and current students because of race, color, sex, religious creed, ancestry, national origin, handicap or disability, record of a handicap or disability, perceived handicap or disability, relationship or association with an individual with a handicap or disability, use of a guide or support animal, and/or handling or training of support or guide animals. The Pennsylvania Fair Educational Opportunities Act ( PFEOAct ) prohibits discrimination against prospective and current students because of race, religion, color, ancestry, national origin, sex, handicap or disability, record of a handicap or disability, perceived handicap or disability, and a relationship or association with an individual with a handicap or disability. Information about these laws may be obtained by visiting the Pennsylvania Human Relations Commission website at If an accommodation is needed, please contact: Virtual Campus 2.0 Deborah Bybee Coordinator, Disability Services 104 F 735 Cumberland Street Lebanon, PA Phone: [email protected] COURSE CALENDAR Note: Learning Outcomes refer to pages 2 and 3 Week of 5/26-6/1 Chapter: 1 Topic: Accounting in Business: (Learning Outcome 1-4,9,23) 1. Read Chapter 1 and Appendix 1A and 1B 2. Complete HW online: Interactive Presentations, Learn Smart, Exercises, and Problems 3. Introductions: Take time to introduce yourselves in the discussion area Week of 6/2-6/8 Chapter: 1 continued Topic: Accounting in Business: (Learning Outcome 1-4,9,23)

8 1. Homework: Complete Selfstudy: Practice and self quiz 2. Chapter 1 exam Chapter: 2 Topic: Analyzing and Recording Transactions: (Learning Outcomes 3,4,9,23,24) 3. Read Chapter 2 4. Homework: Complete 5. Complete HW online: Exercises, Problems, and Learn Smart Module Chapter 2 6. Discussion 1: Complete Beyond the Numbers 3. Chapter 2 exam Week of 6/9-6/15 Chapter: 3 Topic: Adjusting Accounts and Preparing Financial Statements ( Learning Outcomes 4-5,9,22,23,24) 1. Read Chapter 3 and Appendix 3A 1. Complete HW online: Interactive Presentations, Exercises, Problems and Learn Smart Module 2. Chapter 3 Exam Chapter: 4 Topic: Completing the Accounting Cycle (Learning Outcomes 4-5,9,23,24) 1. Read Chapter 4 and Appendix 4A 2. Complete HW online: Interactive Presentations,Exercises, Problems and Learn Smart Module 3. Chapter 4 Exam 4. Discussion 2 Week of 6/18-6/22 TRI_TERM Exam 1 covering chapters 1-4 Week of 6/23-6/29 Chapter: 5 Topic: Accounting for Merchandising Operations (Learning Outcomes 4-7,9,10,22,23,24) 1. Read Chapter 5 and Appendix 5A and 5B 2. Complete HW online: Interactive Presentations, Exercises, Problems and Learn Smart Module 3. Chapter 5 Exam 4. Discussion 3 Week of 6/30-7/7

9 (Learning Outcomes 4-7,9-12,23,24) Topic: Inventories and Cost of Sales 1. Read Chapter 6 and Appendix 6A and 6B 2. Complete HW online: Interactive Presentations, Exercises, Problems and Learn Smart Module 3. Chapter 6 Exam Chapter: 7 Topic: Accounting Information Systems ( Learning Outcomes 4,6,23,24) 1. Read Chapter 7 2. Complete HW online: Interactive Presentations, Exercises, Problems and Learn Smart Module 3. Chapter 7 Exam 4. Discussion 4 Week of 7/8-7/14 Chapter: 8 Topic: Cash and Internal Control ( Learning Outcomes 4,5,13) 1. Read Chapter 8 and Appendix 8A and 8B 2. Complete HW online: Learn Smart Module, Exercises, and Problems 3. Chapter 8 Exam Week of 7/15-7/21 Review for TRI-Term Exam 2 TRI-Term Exam 2 covering chapters 5-8 Week of 7/22-7/28 Chapter: 9 Topic: Accounting for Receivables ( Learning Outcomes 4,15-17) 1. Read Chapter 9 2. Complete HW online: Learn Smart Module, Exercises, and Problems 3. Chapter 9 Exam 4. Discussion 5 Chapter 10 Topic: Plant Assets, Natural Resources and Intangibles ( Learning Outcomes 4,18-20,23 ) 1. Read Chapter 10 and Appendix 10A 2. Complete HW online: Learn Smart Module, Exercises, and Problems

10 0 3. Chapter 10 Exam Week of 7/29-8/4 Chapter: 11 Topic: Current Liabilities and Payroll Accounting ( Learning Outcomes 4-6,14,21-23) 1. Read Chapter 11 and Appendix 11A and 11B 2. Complete HW online: Learn Smart Module, Exercises, and Problems 3. Chapter 11 Exam 4. Discussion 6 Chapter: 12 Topic: Accounting for Partnerships ( Learning Outcomes 4-6,14,23) 1. Read Chapter Complete HW online: Learn Smart Module, Exercises, and Problems 3. Chapter 12 Exam Week of 8/5-8/13 Final: Cumulative emphasis on chapters 9-12 GOOD LUCK and ENJOY THE COURSE!