Busa 201 Intermediate Accounting I s1

ACCT 201-INTERMEDIATE ACCOUNTING I Monday & Wednesday, 7:30 - 10:00 PM SYLLABUS-FALL 2009

Mr. Michael J. Farina, CPA, MBA  Office: SS20. Office phone: (562) 860-2451, Ext. 2730  Office hours: Monday & Wednesday, 3:00-4:00PM; Thursday, 2:30-3:30PM  ACCT 2T, Accounting Tutorial (recommended): Class # 23524. I have accounting labs on Monday & Wednesday, 4:00-5:00PM and on Thursday from 5:00-7:00PM.  Email: [email protected] Website: http://www.cerritos.edu/mfarina

COURSE DESCRIPTION ACCT 201 is the first semester of a two-semester course designed to give the student an in- depth overview of generally accepted accounting principles and financial reporting. Topics include preparation of the balance sheet, income statement, and statement of cash flows; inventory costing; accounts and notes receivables; the allowance method of accounting for bad debts; plant and equipment; investments; and other issues. Prerequisite: completion of ACCT 102, or its equivalent, with a grade of "C" or better.

STUDENT LEARNING OUTCOMES 1. Students will satisfactorily record adjusting journal entries for prepayments, accruals and estimates.

2. Students will satisfactorily prepare a multiple-step income statement that includes reporting discontinued operations and extraordinary items with intraperiod tax allocation.

3. Students will satisfactorily prepare a statement of cash flows.

4. Students will satisfactorily prepare a properly-classified balance sheet.

5. Students will satisfactorily determine inventory carrying values using the lower of cost or market method of valuing inventories and the gross profit method of estimating inventories.

6. Students will satisfactorily apply required accounting procedures to impairment in values of operating assets.

7. Students will satisfactorily demonstrate how to identify and account for investments classified as held-to-maturity, trading securities, and available-for-sale securities.

TEXT "Intermediate Accounting," Spiceland, Sepe, Nelson, Tomassini, 5th Edition. McGraw-Hill Publishing Co. Students will need an access code to use Homework Manager if buying a used text. Students will also need eight scantron forms.

GRADING Points may be earned as follows: Two examinations @ 50 pts. each 100 Final examination 50 Five homework assign. @ 6 pts. each; lowest dropped 24 Six pre-quiz assignments @ 3 pts. each; lowest dropped 15 Five quizzes @ 20 pts. each; lowest dropped 80 Total points possible 269

Grading will be as follows: 1 90% + = A 80-89% = B 65-79% = C 55-64% = D Below 55% = F

ON-LINE HOMEWORK ASSIGNMENTS Students will be required to complete certain problems from the text using Homework Manager. These problems must be completed by the due date no later than 11:55PM Eastern time (8:55PM Pacific time). These problems, and the deadline dates, follow.

HW # ASSIGNMENT Due Date

1 E1-8, E1-13, E1-14, P2-2, P2-3, P2-7 8/31 2 E3-14, P3-1, P3-6, P4-5, P4-6, P4-11 9/23 3 E5-10, E5-12, E5-13, P6-7, P6-8, P6-9 10/14 4 P7-4, P7-13, P8-5, P8-9, P9-1, P9-3 11/9

5 P10-2, P10-4, P10-11, P11-3, P11-4, P11-12 11/16

PRE-QUIZZES Six pre-quizzes containing various fill-in answers, calculations, and short essays will be administered. These pre-quizzes may found on my website. The due dates are shown in the Schedule of Activities on page 3 of this syllabus.

QUIZZES Six quizzes containing 20 objective questions will be administered. Each quiz covers two or three chapters. Quizzes may not be made up unless arranged in advance.

EXAMINATIONS There are three examinations, including the final examination. Each examination consists of both problems and objective questions. The problems are graded on a partial credit basis. Should a student miss either exam #1 or exam #2 for any reason, the student will take a comprehensive final examination in place of the regular final examination; this comprehensive final examination will be counted twice in order to make up for the examination missed.

ATTENDANCE Students are expected to attend class regularly. Should circumstances require you to miss class, it is the student's responsibility to determine the material missed. Students should consult with the instructor before dropping. The last day to drop with a grade of “W” is November 20, 2009.

2 SCHEDULE OF ACTIVITIES

Date Activities Aug. 17 Course intro; discuss Ch. 1. Aug. 19 E1-3, E1-4, E1-9, E1-11, E1-12; complete exercises on handout. Aug. 24 E2-6, E2-2, E2-4, E2-7, P2-1 (jrl. entries only). E2-8, E2-9. Aug. 26 E2-15, P2-8, P2-12. E2-12. Aug. 31 Pre-quiz #1 due; Quiz #1 (Ch. 1 and 2). Sept. 2 E3-2, E3-3, E3-6, E3-10. P3-4. Sept. 7 HOLIDAY Sept. 9 P3-9, E3-13, E3-16. E3-12. Sept. 14 E4-1, E4-3, E4-4, E4-5, E4-6. Sept. 16 P4-3. E4-9, E4-10, E4-12, E4-13. Sept. 21 E4-14, E4-17, E4-19. E4-21. Sept. 23 Pre-quiz #2 due; Quiz #2 (Ch. 3 and 4). Sept. 28 EXAMINATION #1 (Ch. 1, 2, 3 and 4) Sept. 30 E5-1, E5-2, E5-4, P5-2. Oct. 5 BE5-6, BE5-7, BE5-8, BE5-9, E5-9, E5-11. Oct. 7 E5-15, E5-17, E5-19, E5-21. E5-18. Oct. 12 E6-2, E6-4, E6-7, E6-10. P6-1, P6-2, P6-3, P6-4. P6-6, P6-10, P6-13. Oct. 14 Pre-quiz #3 due; Quiz #3 (Ch. 5 and 6). Oct. 19 E7-7, E7-8, P7-1. E7-11, E7-12, E7-17. Oct. 21 E7-14. E7-20. E7-1, E7-25, P7-13. Oct. 26 E8-9, E8-10, E8-11. P8-2. E8-12, E8-13. Oct. 28 E8-16. P8-6. E8-17. E8-19. E8-18. E8-21. Nov.2 Class cancelled. Nov. 4 E9-1, E9-4. E9-5, E9-6, E9-7, E-9-8. E9-23. E9-25. Nov. 9 Pre-quiz #4 due; Quiz #4 (Ch. 7, 8 and 9) Nov. 11 HOLIDAY Nov. 16 EXAMINATION #2 (Ch. 5, 6, 7, 8 and 9). Nov. 18 E10-1, E10-2, E10-3, E10-4, E10-5. E10-6. Nov.23 P10-1. E10-20, E10-22. E10-25. E10-27, E10-28. E10-13. E10-26. Nov. 25 E11-1, E11-2, E11-3. E11-9, E11-13. Nov.30 E11-15, E11-14, E11-16. E11-19, E11-22, E11-25, E11-26. Dec. 2 Pre-quiz #5 due; Quiz #5 (Ch. 10 and 11). Dec. 7 E12-7, E12-9, E12-5, E12-1. Dec. 9 E12-13, E12-17, E12-12. P12-9. P12-14. Pre-quiz #6 due (Ch. 12). Review for final examination. Dec. 14 FINAL EXAMINATION (Ch. 10, 11 and 12).

The above exercises and problems are scheduled as part of the lecture. Students who attempt these exercises and problems before they are reviewed in class will usually score better on tests. The above activities may be adjusted; any adjustments will be announced. Make-up examinations are not allowed. Quizzes may not be made up.

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 the class 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 citizenship, falsification of work, or allowing others to copy your work may serve as a basis for a failing grade and/or dismissal from class. 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 policy, a copy of which may be found on pages 135-136 of the fall 2009 class schedule. Sharing of calculators, or use of cell phones, is not allowed during tests.

4 HOW TO BUY AN ACCESS CODE If you purchased a new textbook, it will have an access code included and you may ignore the following instructions. If you purchased a used text, please use the following instructions to purchase an access code.  Go to: http://www.mhhe.com/spiceland5e  Click on the McGraw-Hill Homework Manager logo  A new window opens  Click on the light brownish-green box that says “Register or Purchase Access”  Click on “I am a student”  Click on “Buy online”  Enter your email address at the bottom of the screen where indicated  Click the “Select” button for the “$35.00 USD” access code.  Follow on-screen instructions.

HOW TO REGISTER AS A STUDENT ON HOMEWORK MANAGER  Go to http://mh2.brownstone.net/classes/mfarina201fa09/  Click on “Register as a Student”  Enter Registration code  Complete the required information. The password and login are case-sensitive.  Remember to write down your login and password and keep in a safe place.  Click OK when complete  Confirm that the information entered is correct and click OK.

HOW TO ACCESS HOMEWORK MANAGER TO COMPLETE HOMEWORK Homework assignments are listed under “Online Homework Assignments” on page 2. These assignments must be completed using Homework Manager by 11:55PM Eastern time (8:55PM Pacific time) on the due date.

NOTE: Homework assignments have unlimited attempts and only the best score is recorded. Each question will be given one at a time.

 Go to http://mh2.brownstone.net/classes/mfarina201fa09/  Select an Assignment Name.  A new window opens  Enter your Login and Password (password and login are case-sensitive).  Choose either “Print assignment for off-line work” or “Work assignment on-line right now.” (Note: If you print the assignment for off-line work, you will still need to login to HW Manager to enter your answers online.)  Fill in the answers in the boxes provided.  To check for errors without submitting your work, click on the “How am I doing?” link located toward the top of the page.  Click “Next” to go to the next problem.  When all questions are completed, click “Grade.” (Note: Incomplete assignments can be saved and worked on later by clicking “Save my work” or “Quit and save.”)