****COLLEGE OF BUSINESS**** ACADEMIC SYLLABUS ACG 2021 Sec. 36(1775) Financial Accounting Blended – Mondays 9:30AM-12:10PM BB119 0505 Term Fall 2015

INSTRUCTOR: Dr. JulieAnne Adamich-Scheblein OFFICE: Tarpon Springs Campus LY 110 PHONE: (727)-614-7085 EMAIL: [email protected] WEBPAGE: http://www.spcollege.edu/instructors/id/128

OFFICE HOURS: Posted on instructor webpage

ACADEMIC DEPARTMENT: Academic Chair: Dr. Jenice Armstead Office Location: Tarpon Springs Campus LY 249 Phone Number: TBA

REQUIRED TEXTBOOK & OTHER RESOURCE INFORMATION:

 Horngren's Financial & Managerial Accounting, The Financial Chapters, Student Value Edition and NEW MyAccountingLab with Pearson eText -- Access Card Package, 4/e

ISBN: 9781323111901

Note: Instructions on how to register for MyAccountingLab will be provided in MyCourses (D2L).

COURSE DESCRIPTION:

This course is a study of basic accounting principles including the recording and reporting of financial activity. The preparation and interpretation of financial statements with emphasis on the corporation is also studied. 47 contact hours.

ACG-2021 MAJOR LEARNING OUTCOMES:

1. The student will explain the principles of financial accounting, the business environment and accounting systems.

2. The student will record adjusting journal entries and complete the accounting cycle.

3. The student will describe the concepts of merchandising operations and inventories.

4. The student will identify the methods for internal control, cash and receivables in an organization.

5. The student will explain the acquisition and disposal of plant assets and intangible assets.

6. The student will define accounting practices for current liabilities and payroll.

7. The student will estimate and record transactions related to a corporation’s long-term liabilities and paid-in capital.

CLASS SCHEDULE:

MODULE TOPIC ASSIGNMENTS Acceptance of Starting our Starting Our Course: Orientation Syllabus and Course Course: Expectations Quiz Orientation CH 1 (Starting our Course & Accounting and the Business Environment: Orientation*) Module 1 1 Explain why accounting is important and list the users of financial information Homework CH1 Due Date 2 Describe the organizations and rules that govern (Graded Assignments Tuesday accounting in MyAccountingLab) 8/25/15 3 Describe the accounting equation, and define assets, 8AM liabilities, and equity Chapter Exam CH1: 4 Use the accounting equation to analyze transactions (Graded Assignments 5 Prepare financial statements in MyAccountingLab)

*NOTE: You will not have access to the “module” Module 1 “Real-World” content of the course until this quiz has been Discussion-Forum completed.

ACG-2021 MODULE TOPIC ASSIGNMENTS

Module 2 CH 2 Recording Business Transactions: Homework CH2 Due Date 1 Explain accounts as they relate to the accounting (Graded Assignments Tuesday equation and describe common accounts in MyAccountingLab) 9/1/15 2 Define debits, credits, and normal account balances, 8AM and use double-entry accounting and T accounts 3 Record transactions in a journal and post journal Chapter Exam CH2: entries to the ledger (Graded Assignments 4 Prepare the trial balance and illustrate how to use in MyAccountingLab) the trial balance to prepare financial statements Module 2 “Real-World” Discussion-Forum

Module 3 CH 3 The Adjusting Process: Homework CH3 Due Date 1 Differentiate between cash basis accounting and (Graded Assignments Tuesday accrual basis accounting in MyAccountingLab) 9/8/15 2 Define and apply the time period concept, revenue 8AM recognition and matching principles Homework CH4 3 Explain the purpose of and journalize and post (Graded Assignments adjusting entries in MyAccountingLab) 4 Explain the purpose of and prepare an adjusted trial balance 5 Identify the impact of adjusting entries on the financial Chapter Exam statements CH3&4: 6 Explain the purpose of a worksheet and use it to (Graded Assignments prepare adjusting entries and the adjusted trial in MyAccountingLab) balance

CH 4 Module 3 “Real-World” Completing the Accounting Cycle: Discussion-Forum 1 Prepare financial statements including the classified balance sheet Begin 2 Use the worksheet to prepare financial statements Comprehensive 3 Explain the purpose of, journalize, and post closing Problem entries (Graded Assignments 4 Prepare the post-closing trial balance in MyAccountingLab- 5 Describe the accounting cycle Chapter 4)

Module 4 CH 5 Homework CH5 Merchandising Operations: (Graded Assignments Due Date 1 Describe merchandising operations and the two types in MyAccountingLab) Tuesday of merchandise inventory systems 9/15/15 2 Account for the purchase of merchandise inventory Homework CH6 8AM using a perpetual inventory system (Graded Assignments 3 Account for the sale of merchandise inventory using a in MyAccountingLab) perpetual inventory system ACG-2021 ASSIGNMENTS MODULE TOPIC 4 Adjust and close the accounts of a merchandising Chapter Exam business CH5&6: 5 Prepare a merchandiser's financial statements (Graded Assignments 7 Account for the purchase and sale of merchandise in MyAccountingLab) inventory using a periodic system (Appendix 5A) Module 4 “Real-World” Discussion-Forum

CH 6 Merchandise Inventory: Continue working on 1 Identify accounting principles and controls related to Comprehensive merchandise inventory Problem 2 Account for merchandise inventory costs under a (Graded Assignments perpetual inventory system in MyAccountingLab- 3 Compare the effects on the financial statements of Chapter 4) the when using the different inventory costing methods 4 Apply the lower-of-cost-or-market rule to merchandise inventory 7 Account for merchandise inventory costs under a periodic inventory system 8 Estimate the cost of ending merchandise inventory using the gross profit method and the retail method

Homework CH7 Module 5 CH 7 (Graded Assignments Internal Control and Cash in MyAccountingLab) Due Date 1 Define internal control and describe the components Tuesday of internal control and control procedures Homework CH8 9/22/15 2 Apply internal controls to cash receipts (Graded Assignments 8AM 3 Apply internal controls to cash payments in MyAccountingLab) 4 Explain and journalize petty cash transactions 5 Demonstrate the use of a bank account as a control Chapter Exam device and prepare a bank reconciliation and related CH7&8: journal entries (Graded Assignments in MyAccountingLab)

Module 5 “Real-World” CH 8 Discussion-Forum Receivables: 1 Define and explain common types of receivables and Due Comprehensive journalize sales on credit, credit card sales, and debit Problem card sales (Graded Assignments 2 Apply the direct write-off method for uncollectibles in MyAccountingLab- 3 Apply the allowance method for uncollectibles and Chapter 4) estimate bad debts expense based on the percent-of- sales, percent-of-receivables, and aging-of-receivables methods 4 Account for notes receivable including computing interest and recording honored and dishonored notes ACG-2021 MODULE TOPIC ASSIGNMENTS Module 6 CH 9 Homework CH9 Plant Assets, Natural Resources, and Intangibles (Graded Assignments Due Date 1 Measure the cost of a plant asset in MyAccountingLab) Tuesday 2 Account for depreciation using the straight-line, units- 9/29/15 of-production, and double-declining-balance methods Homework CH11 8AM 3 Journalize entries for the disposal of plant assets (Graded Assignments 4 Account for natural resources in MyAccountingLab) 5 Account for intangible assets Chapter Exam CH9&11: CH 11 (Graded Assignments Current Liabilities and Payroll: in MyAccountingLab) 1 Account for current liabilities of known amount 2 Calculate and journalize basic payroll transactions Module 6 “Real-World” 3 Account for current liabilities that must be estimated Discussion-Forum 4 Account for contingent liabilities

Module 7 CH 12 Due Date Long-Term Liabilities Tuesday 1 Journalize transaction for long-term notes payable Homework CH12 10/6/15 and mortgages payable (Graded Assignments 8AM 2 Describe bonds payable in MyAccountingLab) 3 Journalize transactions for bonds payable and interest expense using the straight-line amortization Homework CH13 method (Graded Assignments 4 Journalize transactions to retire bonds payable (at in MyAccountingLab) maturity ONLY) 5 Report liabilities on the balance sheet Chapter Exam CH12&13: CH13 (Graded Assignments Stockholder’s Equity in MyAccountingLab) 1 Identify the characteristics of a corporation 2 Journalize the issuance of stock Module 7 “Real-World” 3 Account for cash dividends, stock dividends, and Discussion-Forum stock splits 5 Explain how equity is reported for a corporation

Final Exam Review- Module 8 Bonus: Review of all the Chapters and Preparation for the (Graded Assignments Due Date Cumulative Final Exam. in MyAccountingLab) Thursday 10/8/15 8AM Cumulative Final Exam: (Graded Assignments in MyAccountingLab)

ACG-2021 IMPORTANT DATES:

Course dates: 8/17/15 – 10/9/15 Last day to drop and receive a refund: 8/21/15 Last day to withdraw and receive a grade of “W”: 9/17/15 Holidays (no class): 9/7

Academic calendar: http://www.spcollege.edu/calendar/ Financial Aid: http://www.spcollege.edu/getfunds/

DISCIPLINE SPECIFIC INFORMATION:

Accounting, in general is a challenging subject that requires a lot of patience, perseverance, practice and study to learn. This is an intensive course. It is recommended to dedicate a minimum of 12-15 hours per week (in an 8-week session) and 6-7.5 hours per week (in a 16-week session) to its study. Online and blended classes give the student a lot of flexibility in regards to study time but it is imperative to get organized and set a consistent time per week to master the learning objectives and complete the assessments of this course.

The learning process can be very demanding, but at the same time it will be very rewarding. The world of accounting is fascinating and will help you develop a new set of skills that will open the doors to a whole new world of opportunities.

ATTENDANCE:

The college-wide attendance policy is included in the Syllabus Addendum at: http://www.spcollege.edu/webcentral/policies.htm

Students classified as “No Show” for both of the first two weeks will be administratively withdrawn from the class.

A “No Show” means not completing the Acceptance of Syllabus/Course Expectations Quiz and not registering for MyAccountingLab for week one and no attempt of (discussion forum, homework & chapter exam) assignments as stated in the course syllabus for week two.

Students who have not completed more than 40% of their assignments due (discussion forum, homework & chapter exams) at the 60% point will be considered as “not actively participating” in the class and may be administratively withdrawn with a grade of “WF”.

ACG-2021 GRADING: Grades will be earned in five parts, as follows:

“Real-World” Discussion Forum (class participation) ----10% Homework (5 attempts*, unlimited time) ------20% Chapter Exams (1 attempt, time limit) ------45% Comprehensive Problem (5 attempts*, unlimited time) - 10% Cumulative Final Exam (1 attempt, time limit) ------15%

Total percentage ------100.00%

A 90 - 100% B 80 - 89% C 70 - 79% D 60 - 69% F Less than 60%

*1 attempt of each question, 5 attempts of “check answer” for each part

ASSIGNMENTS:

It will be the students’ responsibility to complete their assignments on time and in an acceptable manner. Thus, late assignments will not be accepted unless granted by the instructor. If you have an extenuating circumstance please e-mail your instructor to request an extension.

Assignments that are not completed by the due date will receive a zero (0). In consideration of personal contingencies, the instructor will drop the student’s lowest score on homework and chapter exams. With this rule, the student will not be penalized for a low score on a homework and chapter exam.

Please pay attention to the instructions for every assignment such as due date, time allowed (if that is the case), maximum attempts, etc. The instructions will be displayed in MyAccountingLab.

The due date for assignments will be posted by the instructor in MyAccountingLab and MyCourses (D2L).

ACG-2021 Academic Support and Student Success (Tutoring, Libraries, Student Services): http://www.spcollege.edu/support/

STUDENTS’ AND INSTRUCTOR’S EXPECTATIONS: Online /Student Conduct http://www.spcollege.edu/ecampus/help/conduct.htm

Online Student, Faculty and Staff Expectations and Performance Targets http://www.spcollege.edu/ecampus/help/expectations.htm

Academic Honesty Policy http://www.spcollege.edu/AcademicHonesty/

STUDENT SURVEY OF INSTRUCTION:

The student survey of instruction is administered in courses each Fall & Spring semester. It is designed to improve the quality of instruction at St. Petersburg College. All student responses are confidential and anonymous and will be used solely for the purpose of performance improvement.

SYLLABUS CHANGES:

Will be posted in MyCourses (D2L) and announced to all students.

SYLLABUS ADDENDUM: Please make sure you read the information in the addendum. http://www.spcollege.edu/webcentral/policies.htm

ACG-2021