Front Range Community College - Larimer Campus

Course Syllabus
Spring 2011
ACC 121 - ACCOUNTING PRINCIPLES I
4 Credits, 60 Hours
ACC 121-602 Instructor: Cindy Deutschbein, M.S., CPA

Room: BP 127 E-Mail: Cynthia.deutschbein@frontrange.edu

12:00p.m. – 1:50 p.m. Phone: -(970) 988-5394
Monday and Wednesday Office Hours –
By appointment as needed

Important Dates
Wednesday, February 2 Last day to drop this class and receive a refund
Last day to apply for graduation and register for CAAP
Last day to return books to bookstore for a full refund
March 14-20 Spring Break
Friday, April 15 Last day to withdraw from this class

Prerequisite: None
ACC 101 recommended

Text and Materials:

1. FUNDAMENTAL ACCOUNTING PRINCIPLES, Volume 1, Chapters 1 – 12. Twentieth

Edition, Wild, Larson and Chiappetta, McGraw-Hill Irwin Publishing. THIS IS REQUIRED!!!

1. Working Papers Volume I, Chapters 1-12, 20th Edition –THIS IS REQUIRED!!!

2. Pencil required for homework

1. RED pen or pencil
2. Calculator – may not use cell phone or other such device

Course Description: This course introduces the study of accounting principles to give the student an
understanding of the theory and logic that underlie procedures and practices. Major topics include:
the accounting cycle for service and merchandising companies; special journals and subsidiary ledgers;
internal control principles and practices; notes and interest; receivables; inventory systems and costing;
plant asset and intangible asset accounting; and depreciation methods and practices.

NOTE: Instructor reserves the right to modify the syllabus and calendar for this class.

Competencies: Upon completion of this course, the student will be able to:
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 I. Describe the concepts and principles used in the accounting profession.
II. Analyze transactions in relationship to the accounting equation.
III. Record transactions in an accounting system for service and merchandising businesses.
IV. Complete end-of-period work including preparing adjusting entries, financial
statements, and closing entries.
V. Identify advantages and disadvantages of using both computerized and manual systems
VI. Describe the principles and practices of effective internal control systems
VII. Account for cash transactions and prepare bank reconciliations.
VIII. State the difference between a note and an account receivable, and demonstrate the
calculation of interest on notes and record the related transactions.
IX. Analyze and prepare journal entries for bad debts.
X. Assign a value to inventory using the FIFO, LIFO and weighted average cost flow
assumptions.
XI. Estimate ending inventory values.
XII. State the effect of inventory errors on financial statements.
XIII. Account for plant assets, natural resources and intangible assets.
XIV. Calculate and record depreciation, depletion and amortization.
XV. Account for the disposal of a plant asset.
XVI. Analyze, calculate and journalize transactions relating to current liabilities.

Grading: Grades will be assigned on the following scale:

90 - 100 = A
80 - 89 = B
70 - 79 = C
60 - 69 = D
Below 60 = F

Course grades will be determined as follows:

15% - Exam #1 20% - Exam #3
20% - Exam #2 20% - Exam #4
15% - Exam #5
10% - Assigned Problems, writing assignments, quizzes and assignments

There will be a short quiz during the second day of class covering the syllabus and miscellaneous
information covered during the first class meeting.

Exam #1 will be a comprehensive problem over Chapters 1 and 2. Exams #2, will be a comprehensive
problem over Chapters 3 and 4. Exam #3 will be comprised of multiple choice and short answer
questions as well as short problems over Chapters 1-5. Exams 4 and 5 will be similar to Exam #3.
Students may not keep any of these tests. Time limit for Exams 3, 4 and 5 will be 70 minutes.

If a student submits for a grade any assignment or test which is not a product of the student’s own
efforts, the assignment or test will be awarded a grade of 0. The second instance of submitting an
assignment or test which is not a product of the student’s own efforts will merit a grade of “F” for the
course. Please refer to the Student Code of Conduct for further information concerning academic
honesty.

Assigned Problems: Homework will be assigned for each chapter covered in the textbook. All
assignments are due at the beginning of class on the day specified. Late assignments will not be
accepted. Homework problems will be graded on the following scale.
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 100% Problems at least 80% completed at the beginning of class
50% Problems not at least 80% completed at beginning of class

Group projects will be assigned and completed in class. Each day’s project(s) will be one assigned
problem. There will be a group project nearly every class meeting. These may not be made up if class
is missed.

There will be a closed book quiz on the second day of class covering the syllabus.

Test Days: You are expected to be in class on the day of exams. Arrangements may be made to take
an exam before test day if you know you must be gone. Exams may be made up only in exceptional or
extreme cases, usually with verification of absence. Please call before the exam if you absolutely
cannot attend class on exam day.

“Students with disability are encouraged to contact the Office of Special Services at 204-8112 to
arrange for accommodations and support services.”

Classroom Expectations and Policies:

• YOU MUST HAVE A BOOK BY THE SECOND DAY OF CLASS. Please see the instructor
immediately following the first class if you have extenuating circumstances regarding book
purchase.
• Balanced and meaningful daily participation in class discussions and answering questions on
text content and homework assignments.
• You are expected to arrive on time for class and stay until the end.
• Minimal absences – 3 undocumented absences are allowed without effect on your grade. After
the third absence without documentation, you will lose significant attendance points.
• All homework, in class assignments and Exams MUST be done in pencil.
• NO CELL PHONES OR PAGERS ARE TO RING DURING CLASS!!!!!! You may have
your phone on vibrate in order to receive messages in case of a campus emergency, however
limit cell phone interruptions to emergencies.
• In order to respect the class time of other students and the instructor, text messaging during
class is not acceptable! Also, no Laptop use during class other than for note taking.
• Drinks are allowed in the classroom – no food. Please pick up after yourselves.
• Children are not allowed in the classroom for any reason.

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