Course Syllabus

Course Name: Introduction to Accounting Course Number: ACC-111-WB01E Course Department: Business Course Term: Fall 2013 Revised: August 2013 Room: 17 Day: MTWTHF Time: 12:59pm 1:41pm Time Course Start Date: 8/20/2013 Instructor: Ms. Julie Kramersmeier E-mail Address: jkramersmeier@webstercity.k12.ia.us Phone: (515) 832-9210 Final Exam: Day: Wednesday Date: 12/17 Time: 8:00 9:30 am Course End Date: 1/03/2014 Office Location: Room 17 Office Hours: Before or after school and 2:31pm 3:13pm

1. Total Semester Hour(s) Credit: 3 2. Total Contact Hours per Semester: a. Lecture: 3 Lab: 0 Clinical: 0 Internship/Practicum: 0

3. Catalog Description: Introduction to Accounting: Students will receive instruction in analyzing and recording various business transactions and in completing the accounting cycle by journalizing, posting, preparing worksheets, making adjusting and closing entries, and preparing financial statements for service and merchandising businesses. Instruction will be provided for accounting for cash by using a petty cash fund, reconciling a bank statement, and utilizing the cash short and over account; calculating and journalizing employees payroll; and calcula ting and journalizing employer payroll taxes. No previous accounting instruction is necessary. Computer may be utilized. 4. Pre-requisites and/or Co-requisites: None

5. Textbook Required: College Accounting: A Contemporary Approach, Haddock, Price & Farina, second edition McGraw-Hill, 2012 with working papers for Textbook; 978-007-788-2754
6. Materials Required: Calculator not your cell phone calculator

7. Suggested Materials: 6 inch ruler; mechanical pencils, scratch paper 8. Institutional Outcomes: 1. Critical Thinking: The ability to dissect a multitude of incoming information, sorting the pertinent from the irrelevant, in order to analyze, evaluate, synthesize, or apply the information to a defendable conclusion. 2. Effective Communication: Information, thoughts, feelings, attitudes, or beliefs transferred either verbally or nonverbally through a medium in which the intended meaning is clearly and correctly understood by the recipient with the expectation of feedback. 3. Personal Responsibility: Initiative to consistently meet or exceed stated expectations over time. 9. Department Outcomes: 10. Course Outcomes: a. conceptualize accounting as an information system b. decide how users may need accounting information c. measure transactions in business terms

11. Student Outcomes: a. Identify the users of financial information b. Compare and contrast the three types of business entities c. Describe the process used to develop generally accepted accounting principles d. Record in equation form the financial effects of a business transaction e. Define, identify, and understand the relationship between asset, liability, and owners equity accounts f. Analyze the effects of business transactions on a firms assets, liabilities, and owners equity and record these effects g. h. i. j. k. l. m. n. o. p. q. r. s. t. u. v. w. x. y. z. aa. bb. cc.
in accounting equation form. Prepare an income statement Prepare a statement of owners equity and a balance sheet Set up T accounts for assets, liabilities and owners equity, revenue, and expenses Analyze business transactions and enter them in the accounts Determine the balance of an account Prepare an income statement, a statement of owners equity, and a balance sheet Develop a chart of accounts Record transactions in the general journal Prepare compound journal entries Post journal entries to general ledger accounts Correct errors made in the journal or ledger Complete a trial balance on a worksheet Prepare adjustments for unrecorded business transactions Complete the worksheet Journalize and post the adjusting entries Journalize and post closing entries Prepare a post closing trial balance Interpret financial statements Review the steps in the accounting cycle Post from the sales journal to the general ledger accounts Post from the sales journal to the customers accounts in the accounts receivable subsid iary ledger Record sales returns and allowances in the general journal Post sales returns and allowances

dd. Prepare a schedule of accounts receivable ee. Compute trade discounts ff. Prepare the state sales tax return gg. Post from the three-column purchases journal to the general ledger accounts hh. Post credit purchases from the purchases journal to the accounts payable subsidiary ledger ii. Record purchases returns and allowances in the general journal and post them to the accounts payable subsidiary
ledger

jj. Prepare a schedule of accounts payable kk. Compute the net delivered cost of purchases ll. Demonstrate a knowledge of the procedures for effective internal control of purchases mm. Account for cash short or over nn. Demonstrate a knowledge of procedures for a petty cash fund oo. Demonstrate a knowledge of internal control routines for cash pp. Write a check, endorse checks, prepare a bank deposit slip, and maintain a checkbook balance. qq. Reconcile the monthly bank statement rr. Record any adjusting entries required from the bank reconciliation ss. Explain the major federal laws relating to employee earnings and withholding tt. Compute gross earnings of employees uu. Determine employee deductions for social security, Medicare, and income tax vv. Enter gross earnings, deductions, and net pay in the payroll register ww. Journalize payroll transactions in the general journal xx. Maintain an earnings record for each employee yy. Explain how and when payroll taxes are paid to the government zz. Compute and record the employers social security and Medicare taxes aaa. Record deposit of social security, Medicare, and employee income taxes bbb. Prepare an Employers Quarterly Federal Tax Return, Form 941 ccc. Prepare Wage and Tax Statement (Form W-2) and Annual Transmittal of Wage and Tax Statements (Form
W-3)

ddd. Compute and record liability for federal and state unemployment taxes and record payment of the taxes eee. Prepare an Employers Federal Unemployment Tax Return, Form 940 or 940 -EZ fff. Compute and record workers compensation insurance premiums ggg. Determine the adjustment for merchandise inventory, and enter the adjustment on the worksheet hhh. Compute adjustments for accrued and prepaid expense items, and enter the adjustments on the worksheet iii. Compute adjustments for accrued and deferred income items, and enter the adjustments on the worksheet jjj. Complete a 10-column worksheet

Grading
This class will follow the district-wide grading policies and procedures. The grading guidelines use the following scale:

A+ = 100-97 A = 96-93 A- = 92-90 B+ = 89-87 B = 86-83 B- = 82-80 C+ = 79-77

C = 76-73 C- = 72-70 D+ = 69-67 D = 66-63 D- = 62-60 F = 59-0

The grading guidelines use a uniform percentage District Grading Scale and place greater weight on final products of learning (summative) in calculating the grade with less weight on the academic practice (formative) involved in learning. Academic Practice (formative) will be 20% of final grade. Academic Achievement (summative) will be 70% of final grade. Semester Test will be 10% of final semester grade.

Required supplies
1. 2. 3. 4. 5. Pen or Pencil Ruler from planner Notebook paper Pocket folder Student Planner

Class policies
All school rules and procedures will apply in this class Guidelines from the Student/Parent Handbook will be enforced in this class Make-up work will be allowed for absent students by contacting instructor for assignments. Remember this is the students responsibility! Arriving to class on time will be expected. If you are late to class, bring a pass or you will be counted as tardy. After three unexcused tardies, the student must serve a detention with the teacher. Use the restroom and get a drink from the fountain before coming to class and arrive before the tardy bell. Students must bring materials and supplies to class every day (including student planners.) Cell phones are not to be heard in the classroom. Make sure your phone is on silent to ensure it does not disrupt class. If bringing bottled water into the lab please place it in a safe place away from the computer. It is the responsibility of all students and school staff to respect and care for the computer equipment.

Behavior expectations

Be Be

ready to learn and have fun. respectful of each other and of the teacher. Be respectful of equipment and classroom supplies. Be responsible by being on time and ready to work when the bell rings.

Intro to Accounting ACC111 Assignment Schedule Chapter 1 2 3 Exam over chapters 1-3 4 5 6 Exam over chapters 4-6 7 8 9 Exam over chapters 7-9 10 11 12 13 Comprehensive Final Exam over chapters 1-13
Instructor has the right to add, waive, or change any of the data listed above.

Assignments All Discussion Questions - Typed All problems, set B Pr. 3.1B, 3.4B, 3.5B Pr. 4.2B, 4.3B, 4.4B Pr. 5.1B, 5.4B Pr. 6.3B, 6.4B journalize closing only Pr. 7.2B, 7.3B, 7.4B Pr. 8.2B, 8.3B, 8.4B Pr. 9.1B, 9.3B, 9.4B Pr. 10.1B, 10.3B, 10.4B Pr. 11.1B, 11.6A, 11.1A Pr. 12.1B, 12.3B Pr. 13.1B, 13.2B