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Course Syllabus - Principles of Accounting I - Spring 2009 | ACCT 2101, Lecture notes of Financial Accounting

Material Type: ClassMaterial; Professor: McCarron; Class: Principles of Accounting I; Subject: Accounting; University: Gordon College;

Typology: Lecture notes

2011/2012

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Dr. McCarron
Acct. 2101, Spring 2009
Syllabus
Office hours: Monday and Wednesday 9:00 – 10:55 a.m.,
Tuesday 9:00 am - 12:20 pm
Wednesday 5:00 – 5:50 p.m.,
and other times by appointment
E-mail address: kmccarron@gdn.edu
Web site: www.gdn.edu/faculty/kmccarron
Office phone: 678.359.5031
Division of BSS phone: 770.358.5194
Division of BSS fax no: 770.358.5132
Each student at Gordon College receives an e-mail account. You will need to check your
e-mail daily for any announcements. If you need to contact me outside of class and office
hours, use e-mail rather than telephone because I check my e-mail far more often than
my office phone messages.
You must verify that you are properly enrolled in the class you are attending before the
end of the drop/add period.
PREREQUISITES: No prerequisites; but learning support restrictions are enforced. If you
are enrolled currently or will be enrolled in learning support reading or mathematics, you
will be disenrolled from this class.
COURSE DESCRIPTION: Acct 2101, Principles of Accounting I, is a study of the underlying
theory and application of financial accounting concepts.
COURSE OBJECTIVES: Upon completion of Acct 2101, each student should be able to:
1. Explain the structure of the accounting profession and its various career paths,
the importance of the professional Code of Ethics, and the application of such a
code to business situations.
2. Explain and understand the term “generally accepted accounting principles”.
3. Explain the differences between accrual-basis accounting and cash-basis
accounting.
4. Identify the basic financial statements and their interrelationships.
5. Indicate the effects of various business activities on the financial position of
business entities.
6. Compare and contrast the accounting for corporations, sole proprietorships, and
partnerships.
7. Select the appropriate accounting information to use when making economic
decisions.
8. Describe and explain in depth the effects of operating, investing, and financing
transactions on the ability of a company to generate cash.
REQUIRED TEXTBOOK: Financial Accounting: Information for decisions, 6ed. Ingram and
Albright.
GeorgiaView Vista (GaView): You will need to access GaView formerly known as WebCt.
Within GaView you will find various documents, access to some PowerPoint
presentations, solutions to pertinent exercises and/or problems, and, possibly, solutions
to the tests. Always check for a new announcement when you log into GaView.
EXAMINATIONS: Four (4) exams will be given during the semester. Everyone must take
the fourth or final exam; failure to take the final exam may result in a failing grade in the
class. Ninety percent (90%) of your course grade will be based on a combination of your
two best exam scores during the semester plus your score on the final exam. The exams
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Download Course Syllabus - Principles of Accounting I - Spring 2009 | ACCT 2101 and more Lecture notes Financial Accounting in PDF only on Docsity!

Dr. McCarron Acct. 2101, Spring 2009 Syllabus Office hours: Monday and Wednesday 9:00 – 10:55 a.m., Tuesday 9:00 am - 12:20 pm Wednesday 5:00 – 5:50 p.m., and other times by appointment E-mail address: kmccarron@gdn.edu Web site: www.gdn.edu/faculty/kmccarron Office phone: 678.359. Division of BSS phone: 770.358. Division of BSS fax no: 770.358. Each student at Gordon College receives an e-mail account. You will need to check your e-mail daily for any announcements. If you need to contact me outside of class and office hours, use e-mail rather than telephone because I check my e-mail far more often than my office phone messages. You must verify that you are properly enrolled in the class you are attending before the end of the drop/add period. PREREQUISITES: No prerequisites; but learning support restrictions are enforced. If you are enrolled currently or will be enrolled in learning support reading or mathematics, you will be disenrolled from this class. COURSE DESCRIPTION: Acct 2101, Principles of Accounting I, is a study of the underlying theory and application of financial accounting concepts. COURSE OBJECTIVES: Upon completion of Acct 2101, each student should be able to:

  1. Explain the structure of the accounting profession and its various career paths, the importance of the professional Code of Ethics, and the application of such a code to business situations.
  2. Explain and understand the term “generally accepted accounting principles”.
  3. Explain the differences between accrual-basis accounting and cash-basis accounting.
  4. Identify the basic financial statements and their interrelationships.
  5. Indicate the effects of various business activities on the financial position of business entities.
  6. Compare and contrast the accounting for corporations, sole proprietorships, and partnerships.
  7. Select the appropriate accounting information to use when making economic decisions.
  8. Describe and explain in depth the effects of operating, investing, and financing transactions on the ability of a company to generate cash. REQUIRED TEXTBOOK: Financial Accounting: Information for decisions , 6ed. Ingram and Albright. GeorgiaView Vista (GaView): You will need to access GaView formerly known as WebCt. Within GaView you will find various documents, access to some PowerPoint presentations, solutions to pertinent exercises and/or problems, and, possibly, solutions to the tests. Always check for a new announcement when you log into GaView. EXAMINATIONS: Four (4) exams will be given during the semester. Everyone must take the fourth or final exam; failure to take the final exam may result in a failing grade in the class. Ninety percent (90%) of your course grade will be based on a combination of your two best exam scores during the semester plus your score on the final exam. The exams

include problems to be solved and multiple-choice questions, which must be answered on a Scantron form and machine graded. You are responsible for insuring that the Scantron scoring machine properly reads all erasures. No changes are allowed after the exam is graded. I reserve the right to assign a failing grade (F) to any student who does not pass at least one of the individual exams. If you have taken the three (3) intra-semester exams, you may drop the lowest score from among them. If you miss one of the three intra-semester exams for any reason, that exam will be the one you drop. You may be allowed to take a test early if you ask as soon as you know that a situation will prevent your attendance at the regularly scheduled time, but you will not be given any exam after it has been completed by the remainder of the class. If you find yourself in a situation in which you must submit an exam paper at a time other than the regular class time, you must submit it to Ms. Goodloe in Russell 305, if I am unavailable. If you do not submit your exam to Ms. Goodloe, Dr. Burstein, or me, and your paper gets lost, you will bear the full responsibility for it. Never use an ink pen to work a test. FINAL GRADE DETERMINATION: Points are assigned as follows: Each of three best test scores (3 x 30%) 90% OR 270 points Monopoly game participation and write-up 10% 30 points Total points available 100% 300 points Your course grade will be determined as follows: If you have 270 or more points, your grade is an A. If you have between 240 and 269 points, your grade is a B. If you have between 210 and 239 points, your grade is a C. If you have between 180 and 209 points, your grade is a B. If you have less than 180 points, your grade is an F. You are expected to be considerate of your fellow students, yourself, and me. This includes:

  1. Staying home if you are tired, sick, or sleepy. We will use a seating chart so that I can learn your names. Any absences will not relieve you of responsibility for all the material covered in class.
  2. Arriving in class on time and remaining seated until you are dismissed.
  3. Turning off cell phones and pagers or anything else that makes noise. Inappropriate use of such devices, including text messaging, may result in a loss of points and/or your surrender of the cell phone or other device for the remainder of class.
  4. Taking notes. At a minimum, bring a notebook and a writing instrument to class. I prefer that you not use a laptop during class; however, if you must bring it, only use it for taking notes.
  5. Dressing appropriately. Remove your hats (male or female) and be sure to wear clothes that leave something to your classmates’ and my imagination.
  1. Sitting close to the door if you know or suspect that you may have to leave class before it is dismissed, so that you may leave with the least interruption possible.
  2. Not cheating. Cheating in any form will not be tolerated. Cheating during an exam will result in a grade of ‘F’ on the test and possibly a grade of ‘F’ for the course.
  3. Speaking to me if you have any issues about the class before you address them with anyone else. This syllabus provides a general plan of the class; deviations may be necessary. Acct 2101 Spring Class Schedule Always read the chapter before the lecture begins in the class. Some of the exercises and/or problems listed will be used as demonstration problems during the lectures. The remaining exercises/problems are homework to be completed by you after we have covered the material in class. Class date: Topics: Reading Exercises/Problems Week 1, Jan. 12, 2009 Introduction, publicly traded Chapter 1 Ex. 1-4, 5, 9, 10, 17 corporations; accounting dept composition; types 18; P1-2, 5, 8, 9, 11, and forms of organizations; 20 January 19, 2009 No class – MLK Holiday Week 2, Jan. 19, 2009 Chapter 1 continued Week 3, Jan. 26, 2009 The accounting equation; Chapter 2 Ex. 2-3, 4, 5, 6; business activities & their effects on the accounting P 2-1, 4, 6, 7, 12, 14 equation for publicly-traded corporations Week 4, Feb. 2, 2009 Monopoly! Chapter 2 continued Week 5, Feb. 9, 2009 Monopoly continued Wednesday, Feb. 11, exam 1 Week 6, Feb. 16, 2009 Accrual-basis accounting – Chapter 3 Ex. 3-3, 4, 5, 6, 8, 9, why it is used; adjustments to present GAAP-based 10, 12, 14; financial statements; P3-2, 3, 4, 6, 8, 10 Week 7, Feb. 23, 2009 Chapter 3 continued Week 8, March 2, 2009 Monopoly project due; Wed., March 4, exam 2 Thursday, March 5, 2009 Last day to drop with no penalty!

Monday – Friday, March 9 – 13, 2009 Spring Break!!! Week 9, March, 16, 2009 Multiple-step income Chapter 4 Ex. 4-2 thru 5; 11, 12 statement; classified balance sheet; more 13, 15, 16, 17; P4- detail in financial statements. thru 3, 12, 17 Week 10, March 23, 2009 Chapter 4 continued March 25, 2009 Direct and indirect Chapter 5 Ex. 5-1 thru 11, 15 methods to prepare statements of cash flows; operating, P5 – 2, 4 investing, financing cash flows Week 11, March 30, 2009 Chapter 5, continued Week 12, April 6, 2009 exam 3 Wed., April 8 Time value of money; Chapter 8 Ex. 8-2 thru 5, 7 thru future and present values; lump sums and annuities 9, 11, 12 thru 14, 17, 24 Week 13, April 13, 2009 Chapter 8, continued Week 14, April 20, 2009 Long-term Debt Chapter 9 Ex. 9-2, 3, 4, 6a, 7a, 11 Week 15, April 27, 2009 Chapter 8, continued Monday, May 4, 2009 Last day of classes Tuesday, May 5, 2009 Final Exam, 8:00 am regular classroom