Business Administration 2220-30,31Introduction to Financial Accounting
Fall Semester- 2016
Instructor:David C. Layne
Office:G2G
Office Hours:Monday through Thursday: 5:00 p.m. - 6:00 p.m.; Saturday 10:00 – 11:00 a.m. unless in class, or by appointment
Contact Hours:Monday 1:00 PM – 5:00 PM
Phone:(661) 763-7931
E-mail:
Prerequisites: None
Advisory:Eligibility for English 50 and 54/Business 50 or 52A strongly recommended; 64 hours lecture.
Units: 4 semester credits
Class Meets: August 22- December 10, 2016, and is entirely OFFLINE.
Special Dates:
Last Date for Refund: August 31, 2016
Last Date for Drop with No Notation: September 5, 2016
Last Date for Drop with a “W”: October 26, 2016
Adding and dropping a class is the student’s responsibility. Do not assume that just because you no longer attend class that you have been dropped from the course. Any change in your attendance status must be done by you. If you do not come to class and do not file your DROP request with the registrar, you will be issued an “F” for this course. This looks ugly on a transcript and is easy to prevent by doing the simple paperwork to drop or withdraw.
Course Description:
Business Administration 2220 (formerly BSAD1A) is a foundation course in financial accounting principles. It is a study of the basic principles of accounting, with emphasis on the accounting cycle, internal control of sole proprietorships, corporations and partnerships, financial statements, and accounting for assets, liabilities, expenses, revenues, and capital.
Course Repetition and Withdrawal:
Students that have received a course grade of D, F, NP or W 3 times will not be permitted to take the course again at Taft College. If extenuating circumstances apply, students may petition to enroll in a course the fourth time. For further information, please contact the Counseling Center at 661-763-7748.
Student Learning Outcomes (SLOs):
1. K- Students will be able to prepare financial reports for several organizational forms of businesses.
2. S- Students will be able to analyze and record financial and nonfinancial transactions correctly.
3. A- Students will demonstrate ethical decision making in global business contexts.
Course Objectives:
By the end of this semester course, students will be able to:
1. Describe the nature of a business and the role of ethics and accounting in economic enterprises.
2. Describe the characteristics of an account and properly record transactions using a chart of accounts.
3. Describe the processes of the accounting cycle.
4. Define and give examples of the accounting equation.
5. Describe the adjusting process and apply it to a worksheet.
6. Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements and demonstrate the process using a worksheet.
7. Define and recordthe activities and financial statements of service and merchandising businesses.
8. Describe the importance of control over inventory and methods used for control and give examples of typical controls used.
9. Determine the cost of inventory under the perpetual inventory system using FIFO, LIFO, and average cost methods.
10. List, define, and calculate basic financial statement analytical techniques.
Required Materials:
Rental Text:
Needles, Powers, & Crosson. (2011).Financial & Managerial Accounting, 9th Ed., Mason, OH: South-Western Cengage Learning.
ISBN 10: 1-4390-3780-9 - or - ISBN 13: 978-1-4390-3780-5
All rental agreement policies will be explained at the Taft College bookstore.
OPTIONAL- Purchase Working Papers:
Needles, Powers, & Crosson. (2011).Working Papers for Exercises, Problems, Cases: Chap. 1-14, 9th Ed., Mason, OH: South-Western Cengage Learning.
ISBN 10: 0-538-74283-6 - or - ISBN 13: 978-0-538-74283-2
Learning Activities Required Outside of the Classroom:
Students will typically spend a minimum of six hours each week outside of the classroom in the any or all of the following activities:
a. Reading the required text and other background materials for class;
b. Reading and preparing homework assignments;
c. Researching and reporting relevant information in professional journals;
d. Studying classroom notes in preparation for assessments;
e. Drafting and revising writing projects;
f. Creating and analyzing case studies, and
g. Collaborating with students to accomplish group projects.
Methods of Instruction:
Students will encounter any or all of the following learning strategies:
a. Group discussions;
b. Role playing using scenarios;
c. Case development and presentations;
d. Small group projects;
e. Simulations;
f. Problem-solving and situational analysis;
g. Demonstrations;
h. Visual presentations; and
i. Lecture
Methods of Evaluation:
This course will use any or all of the following formative and summative assessments:
a. Oral and written case analysis;
b. Oral and written reflections on students’ learning and metacognition;
c. Portfolio construction and presentation;
d. Academic reports recorded in academic style using A.P.A. formatting;
e. Quizzes;
f. Summative assessments;
g. Presentations and demonstrations; and
h. Class participation
Grading:
Your grade will be calculated on a total point system. There will be 1655 points possible for the semester, allocated in the following manner:
• / Homework- 14 @ 50 points each / 700• / Chapter Exams- 13@ 50 points each / 650
• / Final Exam- 1 @ 50 points / 50
• / Ethics Case Project / 60
TOTAL POINTS POSSIBLE: / 1460
Homework:
Each chapter may have homework and may include True and False sections, the multiple choice sections, the matching sections, practice exercise sections, exercises sections, problems, continuing problems, and special activities. Please pay careful attention to the assignments in the Scope and Sequence to make sure you do the assigned work. To receive full credit for homework, a student must complete ALL the assigned work which includes showing all the computational steps necessary to solve the problem.All exercises assigned will be checked for completion, if these are not completed, an automatic deduction of 15% will be made. Each completed homework assignment is worth 50 points.
There are two options for turning in completed assignments:
1. Assignments can be mailed to: David Layne, Ph.D. at Taft College, 29 Cougar Court, Taft, CA, 93268. If you choose this option, the postmark must be on or before the assignment due date to receive full credit. If you want your assignments returned, please include a self-addressed stamped envelope. Assignments will be returned within 7 days of receipt.
–OR-
2. Turn in assignments to the Testing Center located next to the cafeteria. Those wishing their work returned can find graded work in the Testing Center or must provide a self- addressed, stamped envelope for this purpose.
Home work is due on the Friday you study your chapter. For example, the homework from Chapter 1 of your first week is due on Friday of this first week.
Late homework will NOT be accepted.
Exams:
There will be fourteen (14) chapter exams, each worth 50 points.Exams may include multiple-choice options, true and false questions, short answer, and computational problems. The exams are not directly cumulative and will consist of questions concerning information from the chapters within each unit. Each exam is designed to take 90 minutes to complete. Exams maybeclosed-book and closed-note. Each exam is due on the Friday after the chapter is covered in class. For example, Chapter 1 is covered in the first week of the course, so the exam for Chapter 1 is due on Friday of the second week of the course.
There are two options for turning in completed examinations:
1. Approved proctorscan mail them to: David Layne, Ph.D., at Taft College, 29 Cougar Court, Taft, CA, 93268. If you choose this option, the postmark must be on or before the due date to receive full credit. If you wouldlike your examinations returned, please include a self-addressed stamped envelope. Examinations will be returned within 7 days of receipt.
NOTE: The form for proctor approval is attached at the end of this syllabus.
–OR-
2. Take your examinations in the Testing Center located next to the cafeteria. Those wishing their work returned can get their graded exams from the Testing Center orprovide a self- addressed, stamped envelope for this purpose.
Late exams will NOT be accepted. Exams are due on FRIDAY afterthe week the theory in a chapter is covered.
Final Exam:
The final exam is not cumulative, is worth 50 points, and may include multiple-choice options, true and false questions, short answer, and computational problems. This exam is designed to take 90 minutes to complete. This exam may be closed-book and closed-note.
There are two options for turning in the completed final examination:
1. Approved proctorscan mailed them to: David Layne, Ph.D., at Taft College, 29 Cougar Court, Taft, CA, 93268. If you choose this option, the postmark must be on or before the due date to receive full credit. If you wouldlike your examinations returned, please include a self-addressed stamped envelope. Examinations will be returned within 7 days of receipt.
NOTE: The form for proctor approval is attached at the end of this syllabus.
–OR-
2. Take your examinations in the Testing Center located next to the cafeteria. Those wishing their work returned must provide a self- addressed, stamped envelope for this purpose.
Late exams will NOT be accepted.
The Final Exam is due on the Saturday of Finals Week!
Ethics Case Project:
An important part of the accounting profession is our code of professional ethics. These guidelines help us make the correct decisions while being under some of the most interesting and often stressful times in our workday. Please select any ONE of the scenarios presented. Your challenge is to analyze the case facts, identify the ethical dilemmas, propose and examine at least three different courses of action that could be taken, use decision criteria to select one of them, and support your decision. You must use TWO text references in this report, and they must be listed in your references and cited in the body of your paper. You must also create an Annotated Bibliography for these two texts which will be attached after your reference page. Cases without both the references will automatically earn 0 points. Each case will be worth up to 60 points. Remember to support your “claims” with evidence to include facts, theories, and examples. A rubric is included to help guide you in the requirements for this project.
Your report must be in APA style, and the body of your report can be no more than 5 pages in length. Make sure you have a correct title page, a correct abstract, and a reference page. If you have any questions about APA style, please go to the OWL Purdue website for help with this requirement. If you use the OWL site as a guideline, do NOT use the “running head” in this report and do NOT include “key words” on your cover page.
There are two options for turning in your Ethics Project:
1. Project can be mailed to: David Layne, Ph.D. at Taft College, 29 Cougar Court, Taft, CA, 93268. If you choose this option, the postmark must be on or before the project due date to receive full credit. If you would like your project returned, please include a self-addressed stamped envelope. Projects will be returned within 7 days of receipt.
–OR-
2. Turn in the project to the Testing Center located next to the cafeteria. Those wishing their work returned can find graded work in the Testing Center or must provide a self- addressed, stampedenvelope for this purpose.
Late research projects will NOT be accepted.
General Course Policies:
Keys to success in this class:
- Be attentive to every week’s assigned reading. Actively and critically read your text and be sure to read before attempting any homework.
- Keep up. Accounting is cumulative. If you fall behind it will become increasingly more difficult to get caught up.
- Do the homework.Homework is 50% of your grade. You cannot learn the material without doing the homework, and you certainly can’t get a good grade without it.
- Submit all assignments on time.Do not email me an assignment except in case of EMERGENCY – my receipt of your assignment is YOUR responsibility, even if emailed.
- Keep me informed. Life happens. I am willing to make allowances for late work under emergency situations IF YOU LET ME KNOW RIGHT AWAY.
- Use me as a resource. I am available by phone, by e-mail, during my office hours, and other times by appointment.
INSTRUCTOR FEEDBACK:
I believe in providing timely and effective feedback to all my students and will reply to your e-mail within 1 to 2 days. If you send me written correspondence, I will respond within 2 to 3 days, but please remember it takes time for the mail to make its way back and forth. Assignments will be graded within 1 week from the date they are due. I use Jupiter Grades, an electronic gradebook which will provide you with a periodic “progress report” to let you know how you are doing in the class. I will give you access codes to this gradebook program in the second week of class.
ACADEMIC HONESTY STATEMENT:
“Academic dishonesty is defined by this college as any illegitimate act by any student, such as plagiarism or falsifying documents that would gain that student an advantage in grading, graduating from the college, or qualifying for entrance into any academic program. It is a serious breach of student conduct and will be treated as such by administrators, instructors, staff members, and students of the college. Penalties for such conduct, depending on its severity, may range from a simple reprimand to an action that results in expulsion from the college. All flagrant instances of academic dishonesty will be reported to the Vice President of Instruction and/or the Vice President of Student Services, and appropriate measures will be taken by those officers of the college to correct the problem.”
All students are expected to work independently. PLAGIARISM IS NOT ACCEPTABLE AND WILL RESULT IN A GRADE OF “F” FOR THE ASSIGNMENT. THE VICE PRESIDENT OF INSTRUCTION WILL BE NOTIFIED.
Students with Learning Disabilities or Irregular Processing Patterns:
Students with disabilities or students who believe they may have a learning disability and who need accommodations in this course are encouraged to contact Student Support Services (661) 763-7841 or (661) 763-7927 as soon as possible to implement reasonable accommodations promptly. Student Support Services provides many useful accommodations to students who qualify for additional resources, including extended time on tests, spellcheckers, audio technology, and other useful services. If you have difficulty staying focused, respond more strongly to the spoken language than written language, or suspect that you may be disadvantaged academically by the means with which you process classroom material, I urge you to contact Student Support Services. Do not be shy or ashamed. Steven Spielberg, Isaac Newton, Beethoven, and Albert Einstein are just a few of the many geniuses with learning disabilities.
Course Scope, Sequence, and Content
Date / Homework Assignments / Homework Assignment Due / ExaminationsWeek 1
(8/22) / Chapter 1:
Pg. 37- 40: ODD Exercises #1-9
Pg. 41- 44: Problem #1,2
Exercises checked for completion, but only 1 problem will be graded. / Ch. 1 Homework:
Due Friday- 26-Aug / Chap. 1 Exam:
Pg. 44-47
Problem #7
Due FRIDAY Wk.#2
Week 2
(8/28) / Chapter 2:
Pg. 125- 132: AllODD Exercises;
Pg. 132- 136: Problem #3
Exercises checked for completion, but only 1 problem will be graded. / Ch. 2 Homework:
Due Friday-
2-Sep
Week 3
(9/4) / Chapter 2:
Pg. 125- 132: All EVEN Exercises;
Pg. 132- 136: Problem #5
Exercises checked for completion, but only 1 problem will be graded. / Ch. 2 Homework:
Due Friday-
9-Sep / Chap. 2 Exam:
Pg. 137-139
Problem #7
Due FRIDAY Wk.#4
Week 4
(9/11) / Chapter 3:
Pg. 176- 182: All ODD Exercises;
Pg. 182- 187: Problems #3
Exercises checked for completion, but only 1 problem will be graded. / Ch. 3 Homework:
Due Friday
16-Sep / Chap. 3 Exam:
Pg. 187-192
Problem #9
Due FRIDAY Wk.#5
Week 5
(9/18) / Chapter 3 Supplement:
Pg. 203- 204: ALL Exercises
Pg. 204- 207: Problems #1
Exercises checked for completion, but only 1 problem will be graded. / Ch. 3 Supplement Homework:
Due Friday-
23-Sep / NO Exam for Supplement.
Week 6
(9/25) / Chapter 4:
Pg. 242- 248: All ODD Exercises
Pg. 248- 251: Problems #2,3
Exercises checked for completion, but both problems will be graded. / Ch. 4 Homework:
Due Friday-
30-Sep / Chap. 4 Exam:
Pg. 254-255
Problem #8
Due FRIDAY Wk. #7
Week 7
(10/2) / Chapter 5
Pg. 294- 300: All ODD Exercises
Pg. 300- 303: Problems #1, 3
Exercises checked for completion, but both problems will be graded. / Ch. 5 Homework :
Due Friday-
7-Oct / Chap. 5 Exam:
Pg. 304-307
Problem #6
Due FRIDAY Wk. #8
Week 8
(10/9) / Chapter 6
Pg. 339- 343:All ODD Exercises
Pg. 344- 346: Problems #2,3,4,5
Exercises checked for completion, but both problems will be graded. / Ch. 6 Homework:
Due Friday-
14-Oct / Chap. 6 Exam:
Pg. 346-348
Problems #6
Due FRIDAY Wk. # 9
Week 9
(10/16) / Chapter 7
Pg. 380- 384: All ODD Exercises
Pg. 384- 386: Problems #1,3
Exercises checked for completion, but both problems will be graded. / Ch. 7 Homework:
Due Friday-
21-Oct / Chap. 7 Exam:
Pg. 386
Problem #7
Due FRIDAY Wk.# 10
Week 10
(10/23) / Chapter 8
Pg. 421- 425: All ODD Exercises
Pg. 425- 428: Problems #2,4
Exercises checked for completion, but only 1 problem will be graded. / Ch. 8 Homework:
Due Friday-
28-Oct / Chap. 8 Exam:
Pg. 429
Problem #8
Due FRIDAY Wk. # 11
Week 11
(10/30) / Chapter 9
Pg. 467- 471: All ODD Exercises
Pg. 471- 473: Problems #2,3,5
Exercises checked for completion, but only 1 problem will be graded. / Ch. 9 Homework:
Due Friday-
4-Nov / Chap. 9 Exam:
Pg. 475
Problem #7
Due FRIDAY Wk. # 12
Week 12
(11/6) / Chapter 10
Pg. 518- 523: All ODD Exercises
Pg. 523- 526 Problems #3,5
Exercises checked for completion, but both problems will be graded. / Ch. 10 Homework:
Due Friday-
11-Nov / Chap. 10 Exam:
Pg. 527
Problem #6
Due FRIDAY Wk. # 13
Week 13
(11/13) / Chapter 11
Pg. 563- 567: All ODD Exercises
Pg. 567- 570 Problems #1,2,4,5
Exercises checked for completion, but only 1 problem will be graded. / Ch. 11 Homework:
Due Friday-
18-Nov / Chap. 11 Exam:
Pg. 572- 573
Problem #8
Due FRIDAY Wk. # 14
Week 14
(11/20)
Thanksgiving! / Chapter 12
Pg. 607- 611: All ODD Exercises
Pg. 611- 614: Problems #1,2
Exercises checked for completion, but only 1 problem will be graded. / Ch. 12 Homework:
**Due Monday-
28-Nov** / Chap. 12 Exam:
Pg. 615- 616
Problem #7
Due FRIDAY Wk. # 15
Week 15
(11/27) / Chapter 13
Pg. 650- 654: All ODD Exercises
Pg. 655- 658: Problems #2,5
Exercises checked for completion, but only 1 problem will be graded.
*Ethics Reflection Project / Ch. 13 Homework:
Due Friday-
2-Dec / Chap. 13 Exam:
Pg. 659
Problem #6
Due FRIDAY
*Project:
Due 2-Dec
Week 16
(12/4)
NOTE: DATE CHANGES HERE! / Chapter 14
Pg. 699- 703: All ODD Exercises
Pg. 704- 709: Problems #4
Exercises checked for completion, but only 1 problem will be graded. / Ch. 14 Homework:
**Due THURSDAY-
8-Dec**
Week 17
(12/10) / FINAL EXAM IS Chapter 14
Due SATURDAY, 10-Dec-16 / Chap. 14 Exam:
Pg. 712
Problem #7 Due SATURDAY
10-Dec-16
NOTE: The instructor reserves the right to change the scope and sequence to meet the needs of each class.