Acct 100 - Introduction to Accounting

ACCT 100 - INTRODUCTION TO ACCOUNTING

Tuesday and Thursday, 5:30-9:45PM

SYLLABUSSUMMER2018

May 22 – June 28, 2018

Mr. Michael J. Farina, CPA, MBA

Office: SS 20; Office Phone (562) 8602451, Ext. 2730
Office hours: 6/1, 6/5, 6/26: all 4:30-5:30PM; 6/27, 4:00-5:30PM
Website:
Email:

COURSE DESCRIPTION

This course serves as an introduction to accounting at the college level. The course is a prerequisite to ACCT 101, "Fundamentals of AccountingI." Students will learn to record business transactions in accounting records; prepare a trial balance andbasic financial statements for service enterprises and merchandisers; preparebank reconciliations; and record payroll data.

TEXT

College Accounting, Haddock, Price and Farina, 4thedition. McGraw-Hill Publishing. Students should purchase the “bundle” that includesa loose-leaf textbookandan access code for the Connect software in order to complete the homework, quizzes, and exams.

GRADING

Points may be earned as follows:

Midterm examination 100

Comprehensive final exam 150

11 on-line quizzes; lowest score dropped 190

Homework: 10 assignments @ 10 points each, lowest dropped 90

Critical Thinking Problems: 4 assignments @ 5 points each 20

Total points possible 550

Grading will be as follows:

90% + =A

8089%=B

6779%=C

5566%=D

Below 55%= F

HOMEWORK

Homework assignments will be completed on line using Connect and are listed on the third page of this syllabus.The due dates are firm.

RECORDED LECTURES

You musteither listen to the recorded lectures available on Connect, or read the lecture notes (see “Lecture Notes” below)before the chapter is discussed in class. Each chapter has its own lecture. Each recorded lecture is my voice-over of the written lecture notes (see “Lecture Notes” below), combined with step-by-step solutions of exercises pertaining to the material in the chapter.

LECTURE NOTES

Lecture notes for each chapter are available in MS Word documents on my website. These notes provide the basis for the “Recorded Lectures” above and includelinks to step-by-step solutions of exercises pertaining to the material in the chapter. Additionally, some students may wish to download these notes and have them on hand while listening to the recorded lectures. See the third page of this syllabus for instructions on how to download these notes.

QUIZZES

Ten on-line quizzes containing objective questions are assigned. These quizzes must be completed on Connect. The due dates are listed on the third page of this syllabus. The due dates are firm. The quiz for Chapter 1 is worth ten points. The remaining quizzes are worth 20 points each; your lowest score for these quizzes will be dropped. There is a time limit of 80 minutes for each quiz.

CRITICAL THINKING PROBLEMS

Critical Thinking Problems from four chapters have been assigned in addition to the homework. These problems must be completed on Connect. The due dates for these problems are on page 3 of this syllabus.

MID-TERM AND FINAL EXAMINATIONS

The mid-term and final examinations consist primarily of problems to be solved “from scratch,” rather than objective questions. These problems will be similar to those covered in class.These examinations will be completed on Connect.

ATTENDANCE

Students are expected to regularly attend class.This is especially important as the class meets only eleven times during the summer session.If a student misses class, it is the student's responsibility to determine what he or she missed. Students will be dropped for excessive absences or failure to meet the deadlinedates for assignments listed on page three of this syllabus. The last day to drop with a grade of “W” isJune 19.

SCHEDULE OF CLASSROOM ACTIVITIES

Date Activities

May 22Course introduction and orientation. Discuss Ch. 1. Discuss Ch. 2. Ex. 2.1, Ex. 2.5, Ex. 2.8, E2.10.

May 24Discuss Ch. 3. Ex.3.3, Ex. 3.4, P3.4B, P3.5B..

May 29Discuss Ch. 4. Ex. 4.2, Ex. 4.4, Ex. 4.6. Example: journalizing and posting. P4.4B (journal entries).

May 31Discuss Ch. 5. Ex. 5.1, Ex. 5.2, Ex. 5.4. P5-1B, P5-3B.

June 5Discuss Ch. 6. Ex. 6.2. Example-closing entries. Ex. 6.1, Ex. 6.6, Ex. 6.7. Ex. 6.3. Ex. 6.4

Review for midterm examination. Miderm examination to be completed on line using Connect.

June 7Discuss Merchandising Companies (Ch. 7 and 8). Ex. 7.1 through 7.10.

June 12Ex. 8.1 through 8.9.

June 14Discuss Ch. 9: Ex 9.1, Ex. 9.2, Ex. 9.3. P9.4B, P9.5B, and P9.6B. Ex. 9.5.

June 19Discuss Ch. 10 and 11. Ex. 10.1, Ex. 10.2, Ex. 10.6, P10.1B.P11.1B. P11.6B.

June 21Discuss Ch. 12. Ex. 12.1, Ex. 12.7, Ex. 12.6, Ex. 12.4, P12.1B.

June 26Discuss Ch. 13. Ex. 13.1, Ex. 13.2.Ex. 13.3, Ex.13.4, Ex. 13.5. Ex. 13.9, Ex. 13.10. Review for final examination.

June 28 Final examination: to be completed on line using Connect.

POLICY STATEMENT

It is students' responsibility to attend all of their classes. If they miss a class meeting for any reason, students are responsible for all content that is covered, for announcements made in their absence, and for acquiring any materials that may have been distributed in class. It is expected that students be on time for all their classes. If students walk into a class after it has begun, it is expected that they choose a seat close to where they entered the room so that they do not disrupt the class meeting. Students are expected to follow ordinary rules of courtesy during class sessions. Engaging in private, side conversations during class time is distracting to other students and to the instructor. Disruptive behavior of any type, including sharpening pencils during class while someone is speaking, is not appropriate. Please turn off cell phones before theclass begins. The college welcomes all students into an environment that creates a sense of community pride and respect; we are all here to work cooperatively and to learn together.

Excessive absences, unsatisfactory progress, undesirable citizenshipfalsification of work, or allowing others to copy your work may serve as a basis for a failing grade an/or dismissal from class. A student is considered excessively absent and subject to exclusion from class when the student is absent for more than 8 hours of scheduled class time.The college and I take academic honesty issues very seriously. I expect ethical behavior, integrity, and proper behavior inside the classroom. Students who commit academic dishonesty will be dealt with according to the college’s academic honesty and dishonestypolicy, as documented onpage 84of the summer 2018class schedule. Sharing of calculatorswill not be allowed during tests. Students may not use their cell phone in place of a calculator during tests.

Failure to acquire the text and/or Connect access code is not an excuse for missing assignments.

HOMEWORK, QUIZ, EXAM, AND CRITICAL THINKING PROBLEMASSIGNMENTS

The due dates for these activities are below. These assignments must be completed bythe due date no later than 11:59PM.

Ch. # / HW Pts. / Quiz
Pts. / Due Date @ 11:59PM
HOMEWORK, QUIZZES, AND EXAMS:
1 / Lecture only. No homework problems. There is a ten-question online quiz. / N/A / 10 / 5/28
2 / P2.2A, P2.4A. / 10 / 20 / 5/28
3 / P3.3A, P3.4A, P3.5A. / 10 / 20 / 5/29
4 / P4.1A, P4.2A, P4.4A / 10 / 20 / 5/31
5 / Ex. 5.1 (algorithmic), Ex. 5.2 (algorithmic), P5.1A, P5.3A. / 10 / 20 / 6/4
6 / Ex. 6.1 (algorithmic), P6.3A. / 10 / 20 / 6/6
Mid-term Examination (Ch. 1 – 6): 100 points / 6/8
7, 8 / P7.4A, P7.6A, P8.2A, P8.4A. / 10 / 20 / 6/14
9 / P9.1A, P9.4A, P9.5A, P9.6A. / 10 / 20 / 6/19
10, 11 / Ex. 10.7, P10.1A, P11.1A, P11.6A. / 10 / 20 / 6/21
12 / P12.1A, P12.6A. / 10 / 20 / 6/26
13 / P13.1A, P13.3A. / 10 / 20 / 6/28
Final Examination: 150 points / 6/29
CRITICAL THINKING PROBLEMS:
5 / Critical Thinking Problem 5.1 / 5 / 6/4
8 / Critical Thinking Problem 8.1. / 5 / 6/14
9 / Critical Thinking Problem 9.1. / 5 / 6/19
13 / Critical Thinking Problem 13.2. / 5 / 6/28

HOW TO DOWNLOAD LECTURE NOTES

Lecture notes are available for each chapter. Go to my website, click on ACCT 100 On Line, then click on Lecture Notes. Select the chapter you would like and open the link.

HOW TO REGISTER AS A STUDENT ON CONNECT

Goto Connectand clickon “REGISTER NOW”
Enter your email address
Enter your registration code
Create your account. Make sure to write down your email address and password
Follow the on-screen directions. Please choose your Security Question and Answer carefully. Make sure to write them down and keep them in a safe place.
When registration is complete, click on “Go to Connect Now”

HOW TO ACCESS CONNECT TO COMPLETE HOMEWORK

Homework assignments are listed in the “Homework and Online Quiz Assignments” above. These assignments must be completed using Connect.

NOTE: Homework assignments have unlimited attempts and only the best score is recorded.

Each question will be given one at a time.

Go to Connect
Enter your Login and Password (password and login are case-sensitive)
Select an Assignment Name
A new window opens. Click on “Start Assignment”
You may print the assignment, complete it by hand, then enter your answers in Connect later. This is the preferred approach
Read the instructions window, then close the instructions window
Work on the assignment in Connect
You may click on “check my work” as needed
When all questions in the assignment are completed, click “submit assignment”. (Note: Incomplete assignments can be saved and worked on later by clicking “save and exit.”)

HOW TO ACCESS CONNECT TO TAKE ONLINE QUIZZES

NOTE: All quizzes have an 80-minute limit and only one attempt.

Each question will be given one at a time.

Go toConnect
Enter your Login and Password (password and login are case-sensitive)
Select an Assignment Name
A new window opens. Click on “Start Assignment”
Read the instructions window, then close the instructions window
Select the correct answer by clicking the bubble
Click “Next” to go to the next question
When all questions have been answered, click “submit assignment”
Click “Submit” to save the grade and exit the quiz session

HOW TO SUCCEED IN ACCOUNTING 100

Arrive to class promptly. Be five minutes early. Bring your textbookand a calculator to each class session.
Never miss a class. If circumstances force you miss a class, make sure you ask a classmate for a copy of their notes.
Read the Lecture Notes, or listen to the recorded chapterlectues,for the chapter before the chapter is discussed in class.
Take thorough notes in class. When we review an exercise or a problem, make sure towrite the solution and gain clarification by asking questions in class.
After the class discussion, read the chapter in the book thoroughly.
Complete the chapter homework on Connect before the due date. Have your book and notes handy.
Complete the chapter quiz on Connect before the due date. Again, have your book and notes handy.
Follow the study guides for the midterm and final exams.

STUDENT LEARNING OUTCOMES

Analyze and record service business transactions in the fundamental accounting equation. (Ch 2)
Analyze and record service business transactions using the rules of debit and credit in “T” accounts. (Ch 3)
Analyze and record service business transactions in a General Journal and post to “T” accounts or a General Ledger (Ch 4)
Analyze and record adjusting entries for impaired assets, complete a worksheet and prepare an income statement, statement of owner’s equity and a Balance Sheet for a service business. (Ch 5)
Prepare closing journal entries and a post-closing trial balance. (Ch 6)
Analyze and record sales, accounts receivable and cash receipts transactions for a merchandizing business. (Ch 7)
Analyze and record purchasing, accounts payable and cash payments transactions for a merchandizing business. (Ch 8)
Prepare a bank reconciliation and record resulting adjusting entries in a general ledger. (Ch 9)
Calculate and record payroll transactions in a general ledger. (Ch 10, 11)
Analyze and record adjusting entries for accruals and deferrals ina merchandising business and complete a worksheet. (Ch 12)
Prepare a multiple-step income statement, statement of owner’s equity and a classified balance sheet for a merchandising business. (Ch 13)