Leslie A. W. Van Wolvelear, Professor of Accounting Course Syllabus Spring 2019

Transcription

1 Oakton Community College Leslie A. W. Van Wolvelear, Professor of Accounting Course Syllabus Spring 2019 Office: 3610 Des Plaines campus ACC Classroom: 2633 DP Phone: (847) Monday/Wednesday from 9:00am - 10:40am Home Page: I. Principles of Financial Accounting Course Course Course Prefix Number Name Credit: Lecture: Lab: ACC 153 Principles of Financial Accounting II. Prerequisite: None. In Addition: Due to the quick pace of this course, it is recommended for students with prior bookkeeping training, or with some successful college work. III. Course (Catalog) Description: Course covers preparation and analysis of financial information using generally accepted accounting principles. Content includes the accounting cycle, financial statement preparation, merchandise accounting, internal controls, cash, receivables, inventory, payables, property, plant and equipment, intangible assets, liabilities, stockholders equity, cash flow statement, and financial statement analysis. IV. Learning Objectives: By the conclusion of this course, students will: Construct, interpret, and analyze the balance sheet, income statement, and cash flow statement. Prepare and analyze journal entries, adjusting entries, and closing entries to complete the accounting cycle. Prepare and analyze purchases and sales transactions for merchandising companies. Construct and interpret the multiple-step income statement. Prepare and interpret various inventory costing methods. Construct the bank reconciliation as well as the associated journal entries. Apply internal control principles to specific situations. Prepare and analyze receivables, including bad debts transactions. Prepare and interpret transactions related to the purchase, sale, and depreciation of fixed assets. Prepare and interpret transactions related to the purchase and amortization of intangible assets. Prepare and analyze transactions related to liabilities. Construct and analyze the stockholders equity journal entries as well as the stockholders equity section of the balance sheet. Utilize financial statement ratios to analyze the actual performance of various entities.

2 V. Academic Integrity and Student Conduct: Students and employees at Oakton Community College are required to demonstrate academic integrity and follow Oakton s Code of Academic Conduct. This code prohibits: cheating, plagiarism (turning in work not written by you, or lacking proper citation), falsification and fabrication (lying or distorting the truth), helping others to cheat, unauthorized changes on official documents, pretending to be someone else or having someone else pretend to be you, making or accepting bribes, special favors, or threats, and any other behavior that violates academic integrity. There are serious consequences to violations of the academic integrity policy. Oakton s policies and procedures provide students a fair hearing if a complaint is made against you. If you are found to have violated the policy, the minimum penalty is failure on the assignment and, a disciplinary record will be established and kept on file in the office of the Vice President for Student Affairs for a period of 3 years. Please review the Code of Academic Conduct and the Code of Student Conduct, both located online at: VI. Outline of Topics: A. Financial Statement Preparation B. Accounting Cycle C. Merchandise Accounting D. Internal Control E. Cash and Bank Reconciliations F. Receivables and Bad Debts G. Inventories H. Property, Plant, and Equipment and Intangible Assets I. Liabilities J. Stockholders' Equity K. Statement of Cash Flows L. Financial Statement Analysis

3 This a general outline of the schedule of topics. See the Calendar in D2L for specific assignment due dates. Week Topic Homework in WileyPLUS Next Gen 1/23 W Getting Acquainted 1/28 M Chapter 1 BE1-6, BE1-8, BE1-10, E1-4, E1-9, E1-11, P1-3A 1/30 W Chapter 2 2/04 M Chapter 2 BE2-8, BE2-10, E2-5, E2-7, E2-8, E2-9, E2-13, P2-2A, P2-6A 2/06 W Chapter 3 2/11 M Chapter 3 BE3-2, BE3-4, BE3-6, BE3-7, BE3-11, E3-1, E3-2, E3-9, E3-20, P3-5A 2/13 W Chapter 4 2/18 M Presidents Day holiday College Closed 2/20 W Chapter 4 BE4-4, BE4-5, BE4-6, BE4-7, BE4-8, BE4-13, BE4-15, E4-8, E4-11, P4-2A 2/25 M Project in class 2/27 W Examination 1 3/04 M Chapter 5 3/06 W Chapter 5 BE5-1, BE5-2, BE5-5, BE5-6, BE5-11, E5-1, E5-2, E5-3, E5-7, P5-1A 3/11 M Chapter 6 3/13 W Chapter 6 BE6-3, BE6-8, E6-5, E6-6, E6-7, E6-13, P6-5A 3/18 & 20 Spring Break Week No Classes 3/25 M Chapter 7 3/27 W Chapter 7 BE7-8, E7-3, E7-4, E7-9, E7-11 4/01 M Chapter 8 4/03 W Chapter 8 BE8-5, BE8-8, BE8-9, BE8-10, E8-3, E8-14, P8-1A 4/08 M Project in class 4/10 W Examination 2 4/15 M Chapter 9 4/17 W Chapter 9 BE9-1, BE9-2, BE9-7, BE9-9, BE9-13, E9-1, E9-3, E9-5, E9-8, E9-11, P9-9A 4/22 M Chapter 10 4/24 W Chapter 10 BE10-2, E10-1, E10-2, E10-3, E10-5 4/29 M Chapter 11 5/01 W Chapter 11 BE11-5, BE11-7, E11-1, E11-2, E11-4, E11-5, E11-6, P11-2A 5/06 M Chapter 12 5/08 W Chapter 12 BE12-2, BE12-4, E12-1, E12-4, E12-7, P12-3A 5/13 M Project in class 5/15 W Examination 3

4 Late Policy Late Work: Due to extenuating circumstances, students may submit an assignment past the due date. (See the definition of extenuating circumstances below). Students are responsible for contacting their instructor regarding all late work and to establish the deadline for late submission. Students may submit homework, projects, and exams after the due date, but will receive a deduction for late submission. See the Methods of Instruction sections for details on the specific policies for late submission assignments. Technological issues are not considered valid grounds for late assignment submission. At the faculty s discretion, late work may be accepted without a point deduction, dependent solely on extenuating student circumstances which will require documentation to be submitted with the request. For Students Requesting Extensions Due to Extenuating Circumstances Only: Extenuating circumstances are limited to any emergency which can be clearly documented, including, but not limited to, a death in the family, medical emergency/illness requiring medical attention for the student or family member, or related emergent circumstances. The documentation must show the event resulting in the late submission occurred no more than two (2) days prior to the deadline. Students must submit all documentation within 48 hours after the original assignment deadline. Unless all documentation is submitted as stated, no assignments will be accepted after one week following the assignment due date. VII. Methods of Instruction: General Information The suggested schedule for the semester is detailed in the Outline of Topics on the previous page. See the Calendar tool in D2L for specific due dates. The due dates and times detailed in the Calendar are for the USA/Central time zone. The more you participate the more rewarding the class will be. Be Proactive, not reactive! The Checklist tool in D2L details the weekly graded assignments and suggested non-graded activities for the course. Discussion Boards There are 4 main discussion boards in the Discussions link: Welcome - this is only used during the first week of class General Course Questions - this is where you post all course related questions that are not chapter/content specific Chapter Questions - this is where you post chapter/content specific questions In Class/Project - this is where you will post and collaborate on the in class assignments and projects

5 Homework You will be completing the homework assignments in WileyPLUS Next Gen. The homework assignment points count towards your final grade. You have unlimited attempts to complete the homework assignments. The homework assignments are due by 8:45am on the due date noted in the D2L calendar. The homework assignments are accessible for 70% of the points after the due date as noted in the D2L calendar up through the exam covering the chapter material. No late submission assignments will be accepted after the exam due date. The points earned in WileyPLUS Next Gen are manually updated in the D2L grades. I normally post grades within 24 hours following the due date. Chapter Quizzes The chapter quizzes assess your understanding of the theoretical concepts. The chapter quizzes are due by 8:45am in D2L on the due date noted in the calendar. Quizzes are not accessible after the due date as noted in the calendar. One (and only one) chapter quiz can be made-up per term. You must send me an in D2L to request a chapter quiz make-up. Also, the lowest quiz score is dropped when determining final grades. You are allowed one attempt and 60 minutes to complete and submit each quiz. Each question is worth 0.50 points for a total of 10 points per quiz. It is critical to your success to read the chapter in the textbook before attempting the chapter quizzes. I also encourage you to refer to the textbook and your notes when completing the quizzes. Do not attempt the quiz until you are ready to answer all the questions and submit for a grade! The quizzes are graded by the software, so you should receive a grade immediately after submitting the quiz. You must select "Save" for every question or your answer will not be recorded. After submission, you will only be able to view the questions you answered. There are Practice quizzes available for you as a supplemental activity. No points are awarded for submitting these quizzes. Projects The projects assess your ability to apply the concepts learned to comprehensive problems. You will be working on the projects in class in groups. You may need time outside of class to complete the projects. The projects are due by 9:00am on the due date noted in the calendar. The projects are completed manually and submitted in class. Projects submitted late will be reduced by 20% of the maximum points and must be submitted within 1 week of the due date.

6 Examinations There are 4 examinations during the term: o 3 chapter examinations o a departmental assessment this is completed at the end of the term The examinations are completed in the classroom on the date noted in the Outline of Topics and Assignments. Only one exam can be completed late during the term (after the due date). Exams completed late will be reduced by 20% of the maximum points and must be submitted within 1 week of the due date. Extra Credit (Optional Assignments) Continue your learning by completing the following for each chapter: adaptive practice assignments in WileyPLUS Next Gen under Modules quests in D2L under Quizzes/Exams You are not required to complete any extra credit assignments. Extra credit assignments cannot be completed after the exam due date. Adaptive practice - The adaptive practice chapter assignments are extra credit opportunities that are available in WileyPLUS Next Gen, which are a personalized, adaptive learning experience. If you score a 70% or higher, you will earn one point of extra credit per chapter for a total of 12 points. Quests - The chapter quests are extra credit opportunities that are similar to the chapter quizzes. The chapter quests are accessible after you complete a chapter quiz and up through the exam covering the chapter material. Extra credit points possible: Points earned point point Extra Credit Points points 10 2 points You are allowed 2 attempts for each quest. The extra credit earned will increase your quiz points up to a maximum of 100% or 110 total points after dropping the lowest quiz score.

7 Badge designations - A badge is earned by completing the chapter quizzes and quests in the Quizzes/Exams tool in D2L. Your highest score earned on the chapter quiz or quest will count. The mastery percentage will determine your overall badge designation. Your course to date badge designation is shown at the top of Grades in D2L. Badge levels based on total mastery: Badge Mastery Staff Accountant 70% - 79% Accounting Manager 80% - 89% Chief Financial Officer 90% or greater VIII. Course Practices Required: Course may be taught as face-to-face, hybrid or online course. You can successfully complete this course!! Follow these guidelines: Read the assigned chapters in the textbook - reading the chapters twice is even better Attend course lectures and complete in class activities Be prepared to start class promptly - in class assignments missed cannot be made up Post general course and content/chapter questions in the appropriate Discussion board - I encourage everyone to respond to questions posted Complete the homework problems in WileyPLUS Next Gen Complete each chapter quiz and quest in D2L Complete the comprehensive projects Complete the 3 examinations and the departmental assessment exam Completing all assignments on time is crucial to your learning and success! Do not wait until the last day to complete the assignments - Be Proactive, Not Reactive! If you find yourself struggling with the content, I recommend you: o review the chapter resources in WileyPLUS Next Gen in the Modules under each learning objective o use the Adaptive Practice: Personalized Practice in WileyPLUS Next Gen to assess your knowledge and review content material you still need to practice o attend on campus tutoring - the tutoring schedule is usually available by week 2 of each semester in D2L under Content General Course Information o contact me so we can discuss your situation and try to find resources that best fit your learning style

8 Communication The preferred method of communication for this course is to use the D2L . If D2L is inaccessible, then and only then are you to use my Oakton address. I recommend you login and check your D2L often (at least 2 to 3 times per week) for updates and changes that may occur. I normally respond to communications within 24 hours. D2L Brightspace Pulse App - helps students stay connected and on track in their D2L courses. Pulse enables students to have one easy view of course calendars, readings, assignments, evaluations, grades, and announcements. For ios devices, download from the App Store. For Android devices, download from Google play. IX. Instructional Materials: We will be using two websites in this course: Brightspace by D2L (D2L) is the course management system used by Oakton. D2L contains the syllabus, general course information, course , quizzes, surveys, discussion board, writing assignments, and grades. You can access D2L from your home through your Internet service provider at : WileyPLUS Next Gen contains the e-text, homework assignments, and supplemental chapter resources. You will access WileyPLUS from the homepage in D2L. The WileyPLUS link is located under Announcements on the D2L homepage. Click on the WileyPLUS Registration and Login link to begin the registration process. You need the following three items for this course: 1. ACC153 Student Handout Packet this is available in the Oakton bookstore 2. Textbook -The Oakton bookstore has a custom publication that includes a hard copy of the textbook and the WileyPLUS Next Gen access code for around $115. You are not required to purchase the hard copy of the textbook, however many students learn better with a hard copy textbook. Financial Accounting Tools for Business Decision Making: 8th Edition Kimmel/Kieso/Weygandt, Wiley, 2016 Oakton Bookstore Bundle - ISBN: WileyPLUS Next Gen access code - You have the option to purchase the WileyPLUS Next Gen access code directly online, however the cost exceeds the price offered at the Oakton bookstore for the textbook and access code combined. There is a temporary 14-day free access option. Students needing financial assistance with textbooks:

9 X. Methods of Evaluating Student Progress: Note: The total points are subject to change during the term Evaluation will be based on: The grading scale will be: In Class Assignments 75 points A = 90% - 100% 900-1,000 points Quizzes (lowest dropped) 110 points B = 80% - 89% points WileyPLUS Homework 95 points C = 70% - 79% points Comprehensive Projects 90 points D = 60% - 69% points Examination points F = Below 59% points Examination points Examination points Assessment Exam (complete with Exam 3) 30 points Total Points 1,000 points Only one exam can be completed late during the term (after the due date). Exams completed late will be reduced by 20% of the maximum points and must be submitted within 1 week of the due date.

10 XI. Other Course Information: 1. Access and disability resource center If you have a documented learning, psychological, or physical disability you may be entitled to reasonable academic accommodations or services. To request accommodations or services, contact the Access and Disability Resource Center at the Des Plaines or Skokie campus. All students are expected to fulfill essential course requirements. The College will not waive any essential skill or requirement of a course or degree program. 2. Safety and support Oakton Community College is committed to maintaining a campus environment emphasizing the dignity and worth of all members of the community, and complies with all federal and state Title IX requirements. Resources and support for: pregnancy-related and parenting accommodations; and victims of sexual misconduct can be found at Resources and support for LGBTQ+ students can be found at: 3. Electronic video and/or audio recording Electronic video and/or audio recording is not permitted during class unless the student obtains written permission from the instructor. In cases where recordings are allowed, such content is restricted to personal use only. Any distribution of such recordings is strictly prohibited. Personal use is defined as use by an individual student for the purpose of studying or completing course assignments. For students who have been approved for audio and/or video recording of lectures and other classroom activities as a reasonable accommodation by Oakton s Access Disabilities Resource Center (ADRC), applicable federal law requires instructors to permit those recordings. Such recordings are also limited to personal use. Any distribution of such recordings is strictly prohibited. Violation of this policy will result in disciplinary action through the Code of Student Conduct. 4. Attendance Class requires student to take responsibility for obtaining instructional materials, completing course work, participating in discussions, and taking the examinations. Student should contact the instructor or class website regarding any problems meeting course requirements.

11 5. Campus closure There are occasions when a campus needs to close due to weather or other unforeseen circumstances. If this occurs during the semester, information and guidance will be posted on the D2L course homepage under Announcements. If you would like to receive notifications that the campus is closing (via text, telephone call or ), please register with Alert!Oakton at: n/index.php 6. Code of conduct Refer to 7. Incomplete grades A student must have completed at least 60% of the required course work before an incomplete request will be considered. It is the student's responsibility to initiate requests for an incomplete and to follow through with the procedures to remove the incomplete grade. 8. Tutoring There are Accounting Lab hours at both campuses where accounting faculty and CPA s can help you with your homework. Feel free to just come and work at one of the computers and ask for help as needed. Hours and locations are posted in D2L under Content General Course Information usually by week 2 of each semester. 9. Health issues Students who have a change of health status need to contact the instructor as soon as possible so arrangements can be handled in a timely manner. Documentation will be required. 10. Withdrawal Dates The last day to withdraw and receive a full refund is Monday, January 28. The last day to withdraw and receive a 50% refund is Monday, February 4. The last day to switch to audit status is Tuesday, February 19. Audit students receive no credit. (This is the only one that must be done in-person at the registration window with student signature.) The last day to withdraw and have nothing appear on your transcript is Tuesday, February 19. The last day to withdraw and have a W on your transcript is Monday, April 1. After that date, you will receive a grade in the course.

12 11. Religious Observances Oakton Community College recognizes the broad diversity of religious beliefs of its constituencies. Students who inform instructors in advance of an intended absence for a major religious observance will not be penalized, but it is the responsibility of students to disclose any religious observances to the instructor at the beginning of the semester so that arrangements can be made. Please look at your religious calendar right away, because last minute requests will not be considered. 12. TRiO Student Support Services Are you a first-generation college student? If so, Student Support Services (SSS) TRIO is for you. TRiO Student Support Services information can be obtained from: Student Printing on Campus (Print Wise) To reduce paper waste in computer labs, print jobs are now sent to a release station before printing. Oakton will provide each student with $20 a semester in their print account (equivalent to 400 black and white sheets) to conserve resources. If students wish to print more, they can add funds to their account. Color and specialty printing will be priced at a higher rate.