ACC111LO3 - Principles of Accounting I - DL (L. O'Goley) information page

HOLYOKE COMMUNITY COLLEGE

HOLYOKE, MASSACHUSETTS

PROF. LEAH CABANISS

ACC 111 - PRINCIPLES OF ACCOUNTING I

INSTRUCTOR: Prof. Leah Cabaniss

OFFICE: KBC413

TELEPHONE: (413) 552-2312

PRE-REQUISITE: NONE

REQUIRED MATERIALS:

1. ACCOUNTING, 22nd edition, by Warren, Reeve, Duchac, Klooster & Allen General Ledger Software, Thomson/SW Publishing – ACCESS CODE NEEDED

2. Access to Excel for Projects

3. Notebook of your choice to be used for solutions to questions, exercises, etc.

4. Calculator

5. Flash Drive.

COURSE DESCRIPTION:

Introduces financial accounting with emphasis on the collection, classification, summarization and reporting of financial information about a specific business. The use of journals, ledgers, working papers and financial statements will be illustrated.

OTHER DESCRIPTION:

This is a first semester accounting course. Most of the students that take it are Business Majors. Accounting is too broad a subject to be comprehensively covered in a one-year course. The topics covered will reflect the needs of the students of this course. Regrettably, several important topics will be omitted.

Accounting requires creative and critical thinking. Professionals, including Accountants, Managers, and Computer Technicians, must have a large body of knowledge in memory. It is their knowledge and their ability to use it that distinguishes them professionally from others and allows them to practice their professions (and command respectable salaries). Acquiring knowledge requires time and effort; it does not happen easily. This course will CONTINUE to build the professional knowledge you will need to practice a profession.

Students who excel in business usually show some or all of the following attributes: curiosity, precision, perseverance, enthusiasm, industry, numeracy, and a good memory. If a student has none of these, his/her life in business will probably be an unhappy one.

COURSE OBJECTIVES: Upon completion of this course, the student will be able to:

1. Complete the processing of accounting transactions for s service business from analysis through post-closing trial balance.

2. Prepare an Income Statement, Statement of Owner’s Equity, and a Balance Sheet for a service business.

3. Correctly use accounting terminology common to the sole proprietorship.

4. Recognize and process the forms, records and entries needed to account for cash, receivables, inventory, plant assets and current liabilities (including payroll).

LEARNING OBJECTIVES AND ASSESSMENT:

The instructor has several objectives she wants to accomplish in this course. First and foremost is for the students to learn the framework of accounting and fill it with a large body of factual knowledge.

Second is for the students to learn a substantial amount of information and vocabulary. Knowing the language of accounting is necessary for effective, professional communication. The cornerstone of any language is its vocabulary and the underlying concepts.

Third is for the students to practice critical thinking. Critical thinking is making conclusions from available information. The ability to make sense of disparate facts, solve problems, build new ideas, and evaluate the ideas of others is central to critical thinking.

Fourth is to permit students to explore their interests in accounting and make wise decisions about their professional futures.

COURSE REQUIREMENTS:

1. Assignments/Homework:

The key to success in an accounting course is to do the homework on a timely basis. (See attached agenda for the homework assignments)

2. Examinations:

There will be five regular examinations and one cumulative final examination. Lecture and exams are used to encourage study and to assess learning. The exams may include any material that is covered in the reading assignments. Exams are a sampling of what has been taught and can not possibly include everything that has been presented.

Each exam will consist of a combination of multiple-choice questions and problems.

The five regular exams will be graded on the basis of 100 points. These exams will be weighted 50% of your final grade.

The final exam is graded on the basis of 150 points. The final exam will be weighted 15% of your final average.

QUIZZES: There will be numerous quizzes given during the semester and will collectively be weighted 10% of your final average. There are NO makeups for quizzes!

HOMEWORK may be of several types and collectively will be weighted 10% of your average. Must be handed in on time for credit!

PROJECTS: There will be three projects that will build upon each other. Collectively will be weighted 15% of your average. Must be handed in on time for credit!

GRADING:

Your communication skills will be taken into account during the semester. In short, unclear answers and sloppy grammar reflect weak communication skills and will lead to reduced credit. The examinations and class participation will be designed to allow the students to demonstrate these skills. Grades will be based on the following:

Regular Exams (10% each) 50%

Final Exam 15%

Homework 10%

Quizzes 10%

Project 1 (Excel) 2.5%

Project 2 (Excel) 2.5%

Project 3 (Excel) 10 %

The following is a schedule of numeric grade requirements:

A 93+ C+ 77-79

A- 90-92 C 73-76

B+ 87-89 C- 70-72

B 83-86 D+ 67-69

B- 80-82 D 63-66

D- 60-62

F 59 & below

EXAM POLICY:

No make-up examinations will be given without the approval of the instructor prior to the administration of the exam.

OTHER INFORMATION:

1. This syllabus and assignment sheet may be modified as deemed appropriate. All changes will be announced on class site.

2. It is the student’s responsibility to read ALL postings (email or discussion/bulletin board), calendar, syllabus, etc.

3. I do not work on the weekends. I check my messages daily and will get back to you the same/next day, Monday – Friday.


	HOLYOKE COMMUNITY COLLEGE HOLYOKE COMMUNITY COLLEGE HOLYOKE, MASSACHUSETTS PROF. LEAH CABANISS ACC 111 - PRINCIPLES OF ACCOUNTING I INSTRUCTOR: Prof. Leah Cabaniss OFFICE: KBC413 TELEPHONE: (413) 552-2312 PRE-REQUISITE: NONE REQUIRED MATERIALS: 1. *ACCOUNTING, 22nd edition, by Warren, Reeve, Duchac, Klooster & Allen General Ledger Software, Thomson/SW Publishing – ACCESS CODE NEEDED* 2. Access to Excel for Projects 3. Notebook of your choice to be used for solutions to questions, exercises, etc. 4. Calculator 5. Flash Drive. COURSE DESCRIPTION: Introduces financial accounting with emphasis on the collection, classification, summarization and reporting of financial information about a specific business. The use of journals, ledgers, working papers and financial statements will be illustrated. OTHER DESCRIPTION: This is a first semester accounting course. Most of the students that take it are Business Majors. Accounting is too broad a subject to be comprehensively covered in a one-year course. The topics covered will reflect the needs of the students of this course. Regrettably, several important topics will be omitted. Accounting requires creative and critical thinking. Professionals, including Accountants, Managers, and Computer Technicians, must have a large body of knowledge in memory. It is their knowledge and their ability to use it that distinguishes them professionally from others and allows them to practice their professions (and command respectable salaries). Acquiring knowledge requires time and effort; it does not happen easily. This course will CONTINUE to build the professional knowledge you will need to practice a profession. Students who excel in business usually show some or all of the following attributes: curiosity, precision, perseverance, enthusiasm, industry, numeracy, and a good memory. If a student has none of these, his/her life in business will probably be an unhappy one. COURSE OBJECTIVES: Upon completion of this course, the student will be able to: 1. Complete the processing of accounting transactions for s service business from analysis through post-closing trial balance. 2. Prepare an Income Statement, Statement of Owner’s Equity, and a Balance Sheet for a service business. 3. Correctly use accounting terminology common to the sole proprietorship. 4. Recognize and process the forms, records and entries needed to account for cash, receivables, inventory, plant assets and current liabilities (including payroll). LEARNING OBJECTIVES AND ASSESSMENT: The instructor has several objectives she wants to accomplish in this course. First and foremost is for the students to learn the framework of accounting and fill it with a large body of factual knowledge. Second is for the students to learn a substantial amount of information and vocabulary. Knowing the language of accounting is necessary for effective, professional communication. The cornerstone of any language is its vocabulary and the underlying concepts. Third is for the students to practice critical thinking. Critical thinking is making conclusions from available information. The ability to make sense of disparate facts, solve problems, build new ideas, and evaluate the ideas of others is central to critical thinking. Fourth is to permit students to explore their interests in accounting and make wise decisions about their professional futures. COURSE REQUIREMENTS: 1. Assignments/Homework: The key to success in an accounting course is to do the homework on a timely basis. (See attached agenda for the homework assignments) 2. Examinations: There will be five regular examinations and one cumulative final examination. Lecture and exams are used to encourage study and to assess learning. The exams may include any material that is covered in the reading assignments. Exams are a sampling of what has been taught and can not possibly include everything that has been presented. Each exam will consist of a combination of multiple-choice questions and problems. The five regular exams will be graded on the basis of 100 points. These exams will be weighted *50%* of your final grade. The final exam is graded on the basis of 150 points. The final exam will be weighted *15%* of your final average. *QUIZZES: There will be numerous quizzes* given during the semester and will collectively be weighted *10%* of your final average. *There are NO makeups* for quizzes! HOMEWORK may be of several types and collectively will be weighted 10% of your average. Must be handed in on time for credit! PROJECTS: There will be three projects that will build upon each other. Collectively will be weighted 15% of your average. Must be handed in on time for credit! GRADING: Your communication skills will be taken into account during the semester. In short, unclear answers and sloppy grammar reflect weak communication skills and will lead to reduced credit. The examinations and class participation will be designed to allow the students to demonstrate these skills. Grades will be based on the following: Regular Exams (10% each) 50% Final Exam 15% Homework 10% Quizzes 10% Project 1 (Excel) 2.5% Project 2 (Excel) 2.5% Project 3 (Excel) 10 % The following is a schedule of numeric grade requirements: A 93+ C+ 77-79 A- 90-92 C 73-76 B+ 87-89 C- 70-72 B 83-86 D+ 67-69 B- 80-82 D 63-66 D- 60-62 F 59 & below EXAM POLICY: No make-up examinations will be given without the approval of the instructor prior to the administration of the exam. OTHER INFORMATION: 1. This syllabus and assignment sheet may be modified as deemed appropriate. All changes will be announced on class site. 2. It is the student’s responsibility to read ALL postings (email or discussion/bulletin board), calendar, syllabus, etc. 3. I do not work on the weekends. I check my messages daily and will get back to you the same/next day, Monday – Friday.**