PRINCIPLES OF ACCOUNTING I

JACKSON COMMUNITY COLLEGE ACCOUNTING 231-02 Winter 2013

Professor: Pete F. Grimaldi, MBA, CMA, CFM E-Mail: grimaldpetef@jccmi.edu

JCC Phone: (517) 784-8193 JCC Office: Whiting 150 (by appointment)

COURSE BASICS: JCC Catalog Description: This course is designed for business and accounting majors or the transfer student. Learn the theory and practice of interpreting and recording accounting data and preparation of financial statements in accordance with Generally Accepted Accounting Principles (GAAP) with an emphasis on sole proprietorships. Current software will be utilized and previous computer experience is strongly recommended. This is an introductory accounting course required for some BUA and all ACC majors. Students should consider their academic program and select either ACC 216 or ACC 231 as their required introductory accounting course. Success in this class depends upon strong analytical problem solving skills, basic computer skills and your dedication. Prerequisites: ENG 085*, ENG 090*, MTH 120 or higher and CIS 101 Required Text Materials: (1) Accounting, Warren, Reeve and Duchac, 24rd edition and (2) Aplia access; both textbook and Aplia are required. The textbook can be utilized in hard cover, loose leaf or eBook format, the best value is the loose leaf bundle at the JCC bookstore Other Required Materials: simple calculator, pencils, flash drive, and Internet access Class Meeting: 6:00 to 7:56 PM, Monday and Wednesday in Jackson Community College - North Campus, Room 201 Office Hours: After class, by appointment, or by e-mail COURSE INFORMATION: Methods used to achieve course objectives: Discussion, lecture, problem solving, group practice work, individual practice with Aplia, homework, Exams, and practical application of the text Monday and Wednesdays: Eleven chapters will be covered during the 15 class meetings; the last class of the semester will include only the last exam. Mondays class will include a presentation of the current weeks readying assignment. Wednesdays class will included a review of the current weeks discussion questions and review of assigned exercises and problems. If time permits, the last part of each class will be available for in-class work on assignments, practice, questions, and Aplia on-line practice. Homework assignments to be presented in EXCEL are due at end of class period. Aplia Homework: We will use Aplia to practice and learn throughout this class. Aplia is an online practice tool used to learn accounting. See page 4 of this syllabus file for specific directions on how to
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use Aplia. Aplia work should be completed following the week the chapter is introduced in class. EXCEL Homework: We will also prepare accounting work using EXCEL software, similar to what you would see in the workplace. See page 6 of this syllabus file for specific homework problems assigned in the semester schedule. Five EXCEL assignments will be collected for grading during the semester. Exams: There will be 3 chapter exams throughout the semester covering 3 to 4 chapters each. If you have a conflict with a test date, you may arrange to take an exam early. Please plan ahead to attend all test dates. Attendance & Participation: Attendance is not considered in your grade; however, your regular attendance and active involvement in class will directly correlate to how well you do in this class. If you attend all classes and complete all assignments, you should do well in ACC 231. Emergencies: If you find yourself in an emergency situation on an exam date, contact me by phone or email ASAP. When you return to class, you will be required to provide documentation of your absence, such as a funeral notice, hospital admit slip, police ticket, etc. We will discuss the situation and work out a solution. Academic Honesty: Integrity and ethics are important in accounting, since many rely on accounting information in decision making. Cheating in class will result in zero credit for that particular assignment, cheating on an exam will be referred to the Director of the Accounting Department and may result in failing the course. Cheating in class takes the form of using or copying another students work and using it as your own. All assignments related to this class must reflect your own work. The JCC Catalog defines academic honesty as the ethical behavior that includes (students) producing their own work and not representing others work as their own Cell Phones: Please turn off your cell phone ringer before joining our class.

JCC INFORMATION: JCC Associate Degree Outcomes (ADOs): The Board of Trustees of Jackson Community College has determined that all JCC graduates should develop or enhance certain essential skills while enrolled in the college. ADO #3 and #8 will be addressed in this course. ADO #3 represents student understanding of computational skills and mathematical reasoning, and ADO #8 represents student understanding of personal and ethical responsibility. JCC Course Objectives with Associate Degree Outcomes (ADOs):
1) Complete double-entry accounting procedures including journalizing transactions, posting journal entries, and preparation of the trial balance (ADO 3) 2) Adjust and close the books for a sole proprietorship service and merchandising business (ADO 3) 3) Prepare financial statements for a sole proprietorship including the Income Statement, Statement of Owners Equity, and Balance Sheet (ADO 3) 4) Understand and complete all aspects of the accounting cycle (ADO 3) 5) Prepare bank reconciliations and record related adjusting entries to Cash (ADO 3) 6) Estimate bad debts using acceptable GAAP methods for doubtful accounts and record related entries (ADO 3)
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7) Compute ending inventory using various acceptable GAAP inventory methods under a perpetual or periodic system (ADO 3) 8) Compute depreciation using acceptable GAAP depreciation methods and record entries for the acquisition and disposal of plant assets (ADO 3) 9) Understand basic payroll calculations including preparation of a payroll register (ADO 3)

JCC Technology: If you have trouble with your JCC login or other computer issues, please contact the JCC Solution Center at (517) 796-8639 or by e-mail at: jccsolutioncenter@jccmi.edu. When e-mailing your instructor, please include your first and last name and put ACC 231 in the subject line. Always save your work and have a back-up plan. Please ask questions and get help early with any concerns you may have including computer problems. JCC Center for Student Success: Students requiring special assistance (including those affected by the Americans with Disabilities Act) should contact the Center for Student Success at (517) 787-0800. This is the first step in acquiring the appropriate accommodations to facilitate your learning. Note: This syllabus is not a contract; it is a plan for the course. Each course and each group of students is unique. We may do more or less work than is outlined above. Total points in the course may be altered to reflect the dynamics of our class. A word on our textbook material (all prices are approximates)
JCC Folletts Bookstore (http://www.jccmi.edu/info/bookstore.htm) : Warren Accounting 24e, loose leaf, chapters 1-26, Aplia 1 semester access & e-book bundled = $175.75 Warren Accounting 24e, e-book and Aplia 1 semester access only = $92.75 Amazon (www.amazon.com) : Warren Accounting 24e, traditional hardback full version, book only = $184.35 Cengage Brain (www.cengagebrain.com) : Warren Accounting 24e, traditional hardback full version, book only = $224.99 Warren Accounting 24e, eBook only = $122.99 Warren Accounting 24e, Aplia 1 semester access only = $79.99 Warren Accounting 24e, hardcover, eBook and Aplia 1 semester access only = approx. $300 I recommend the $175.75 bundle at the JCC bookstore. This provides you with the textbook required for ACC 231 and ACC 232 and one semester of Aplia access. When you take ACC 232, all youll need is another semester of Aplia. The loose leaf version cannot be sold back to the bookstore. However, the loose leaf version saves approx. $125 net ($300 $175).

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How to access your Aplia course

ACC 231-02 Principles of Acct I - Winter 2013 - Grimaldi

Instructor: Pete Grimaldi Start Date: Monday: 01/07/2013 Course Key: Y9MQ-V5N5-K2TY

Registration
Aplia is part of CengageBrain, which allows you to sign in to a single site to access your Cengage materials and courses. 1. Connect to http://login.cengagebrain.com/ 2. If you already have an account, sign in. From your Dashboard, enter your course key (Y9MQ-V5N5-K2TY) in the box provided, and click the Register button. If you don't have an account, click the Create a New Account button, and enter your course key when prompted: Y9MQ-V5N5-K2TY. Continue to follow the on-screen instructions.

Payment
Online: Purchase access to your course (including the digital textbook) from the CengageBrain website. Bookstore: Purchase access to Aplia from your bookstore. Check with the JCC bookstore to find out what they offer for this course, you will have the option to purchase a physical book at a discounted price. Aplia provides an option to use Aplia software while deferring payment until a later date, please check with book store or CengageBrain website for details.

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Principles of Accounting I Other Internet Resources

Textbook website: http://www.wadsworth.com/cgiwadsworth/course_products_wp.pl?fid=M20b&product_isbn_issn=9780538475006&token= This website is a very important course resource for you and is very similar to a companion Study Guide. Use it and you will improve your grade in this class. This web site is like a treasure chest of materials designed with student success in mind. Here is what you will find Crossword Puzzles Excel Templates Flashcards Glossary Interactive Quizzes Student PowerPoint

JCC JetNet: www.jccmi.edu (click on Online Classes at the top) Urgent announcements & check figures File sharing: syllabus, Excel template files. Homework submission for Excel work Grading and all points for all assignments

Other great websites created for student success with college accounting courses: http://www.accountingcoach.com/ Really great website. Consider signing up for their newsletter and get the FREE 19 page accounting CHEAT SHEET booklet. http://www.accountingcrosswords.com/

http://principlesofaccounting.com/ http://www.cliffsnotes.com/study_guide/Accounting-Principles-I.topicArticleId-21081.html
http://www.youtube.com/education?category=University/Business/Accounting

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ACC 231-02 Semester Schedule Winter 2013

Week Date 1 Chap Focus Introductions, opening comments, grading policy, discuss Aplia on-line homework Introduction to Accounting and Business (chapter introduction) Introduction to Accounting and Business (chapter review Analyzing Transactions (chapter introduction) Analyzing Transactions (chapter review) Homework Login to Aplia web site Due Date Mon 1/07 1

Wed 1/09

CH 1, Reading CH 1 Aplia Practice

1/09

Mon 1/14 2

Chapter 1 Excel Presentation PR 1-2A (textbook template Excel) CH 2, Reading CH 2 Aplia Practice 1-8 (skip No. 9 & 10) Chapter 2 Excel Presentation PR 2-2A, PR 2-3A, CP 2-6 (textbook template Excel) CH 3, Reading CH 3 Aplia Practice

1/16

Wed 1/16

1/16

Mon 1/21 3

1/23

Wed 1/23

The Adjusting Process (chapter introduction) The Adjusting Process (chapter review)

1/23

Mon 1/28 4

Chapter 3 Excel Presentation 1/30 PR 3-3A (your Excel spreadsheet), PR 3-4A (Note, June 30 date s/b April 30), (your Excel spreadsheet), PR 3-5A (textbook template Excel) CH 4, Reading CH 4 Aplia Practice Chapter 4 Excel Presentation PR 4-1A, PR 4-6A (both are textbook template Excel) Chapters 1-4 1/30

Wed 1/30

Complete the Accounting Cycle (chapter introduction) Complete the Accounting Cycle (chapter review)

Mon 2/04 1-4

2/06

Wed 2/06 1-4

Review for Exam No. 1

Mon 2/11 5 Wed 2/13

Exam No. 1 Accounting Systems (chapter introduction) Accounting Systems (chapter review)

Chapter 1-4 CH 5, Reading CH 5 Aplia Practice Chapter 5 Excel Presentation EX 5-8, EX 5-16, PR 5-5B, (your Excel spreadsheet) CP 5-5 CH 6, Reading CH 6 Aplia Practice
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2/13

Mon 2/18 6

2/20

Wed 2/20

Accounting for Merchandising Businesses (chapter introduction)

2/20

Mon 2/25 Wed 2/27

Mid-Semester Break No Class Mid-Semester Break No Class Accounting for Merchandising Businesses (chapter review) Inventories (chapter introduction) Inventories (chapter review) Chapter 6 Excel Presentation PR 6-1A, PR 6-6A, CP 6-1, CP 6-5 (your Excel) CH 7, Reading CH 7 Aplia Practice (skip No. 5, LIFO) Chapter 7 Excel Presentation PR 7-1A, PR 7-2A, PR 7-3A, CP 7-1 (textbook template Excel) CH 8, Reading CH 8 Aplia Practice 3/6

Mon 3/4 7

Wed 3/6

3/6

10

Mon 3/11 8

3/13

Wed 3/13

Sarbanes-Oxley, Internal Control, and Cash (chapter introduction) Sarbanes-Oxley, Internal Control, and Cash (chapter review) Review for Exam No. 2

3/13

11

Mon 3/18 5-8

Chapter 8 Excel Presentation PR 8-3A, PR 8-5A, CP 8-1 (textbook template Excel) Chapters 5-8

3/20

Wed 3/20

12

Mon 3/25 9

Exam No. 2

Chapters 5-8

Wed 3/27

Receivables (chapter introduction) Receivables (chapter review)

CH 9, Reading CH 9 Aplia Practice Chapter 9 Excel Presentation PR 9-1A, PR 9-2A, PR 9-6A (your Excel & textbook template Excel) CH 10, Reading CH 10 Aplia Practice Chapter 10 Excel Presentation PR 10-1A, PR 10-2A, PR 10-3A PR 10-5A, PR 10-6A, CP 10-1 (your Excel & textbook template Excel) CH 11, Reading CH 11 Aplia Practice Chapter 11 Excel Presentation PR 11-1A, PR 11-2A, PR 11-5A, CP 11-1 (your Excel & textbook template Excel) Chapters 9-11

3/27

13

Mon 4/1 10

4/3

Wed 4/3

Fixed Assets & Intangible Assets (chapter introduction) Fixed Assets & Intangible Assets (chapter review)

4/3

14

Mon 4/8 11

4/10

Wed 4/10

Current Liabilities & Payroll (chapter introduction) Current Liabilities & Payroll (chapter review)

4/10

15

Mon 4/15

4/17

Wed 4/17 9-11

Review for Exam No. 3

4/17

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16

Mon 4/22 Wed 4/24

Exam No. 3 Exam return, grades

Chapter 9-11

ACC 231 Requirements: Aplia practice 11 chapters Homework (5 assignments from text) Exams 1 3 (sum of three exam scores) Points 250 250 500

Total Points Available

1,000

Grading Scale: 4.0 A 3.5 AB 3.0 B 2.5 BC 2.0 C 1.5 CD 1.0 D 0.5 DF 0.0 F

93-100% 88-92% 83-87% 78-82% 73-77% 68-72% 63-67% 58-62% 0-57%

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