MASTER COURSE OUTLINE
Big Bend Community College
Date: March 2008
COURSE TITLE:
PRIN OF ACCOUNTING I
CIP Code:
Intent Code:
Program Code:
52.0302
21
505
Distribution Desig.:
SE
PREPARED BY:
Preston Wilks
DEPT: ACCT
NO: 201
(Formerly: BUS 251)
CREDITS:
5
Total Contact Hours Per Qtr: 55
Lecture Hours Per Qtr:
55
Lab Hours Per Qtr:
Other Hours Per Qtr:
COURSE DESCRIPTION: An introduction to the steps in the accounting cycle; accounting for
merchandise; the adjusting process--deferrals and accruals; financial statements; cash transactions;
receivables, inventories and internal controls. This course is the first in a three-course series designed
for all accounting and business majors.
PREREQUISITE(S):
TEXT:
ACCT 105 highly recommended
Accounting, 19th Edition, Warren, Reeve, Fess, Southwestern Publishing Co.
COURSE GOALS: The student will understand all of the steps in the accounting cycle for both service
and merchandising businesses. Students will achieve limited entry-level skills for accounting upon
completion of this course.
COURSE OBJECTIVES: Upon successful completion of the course, the student will be able to:
1.
Journalize business transactions in a sales journal, purchases journal, cash payments
journal, cash receipts journal, and general journal
2.
Summarize by posting from the above journals to the general ledger and to the accounts
receivable and accounts payable subsidiary ledgers.
3.
Prepare and complete worksheets, income statements, statements of owner’s equity,
balance sheets, and cash flow statements. Then journalize and post adjusting, closing and
reversing entries.
4.
Record and post entries related to a petty cash fund, a change fund, a cash short and over
account, and prepare a formal bank reconciliation.
5.
Record entries related to the accounting for uncollectible receivables. Also, compute
simple interest, discounts, maturity values, and due dates related to promissory notes.
COURSE CONTENT OUTLINE:
1.
Introduction to Accounting and Business
2.
Analyzing Transactions
3.
The Matching Concept and the Adjusting Process
4.
Completing the Accounting Cycle
5.
Accounting Systems and Internal Controls
6.
Accounting for Merchandising Business
7.
Cash Transactions
8.
Receivables
EVALUATION METHODS/GRADING PROCEDURES:
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Total points possible are allocated as follows (approximately):
Daily Assignments
15%
Practice Set
10%
Chapter Tests and Quizzes
60%
Final Test
15%
TOTAL
100%
Grade determination will be as follows (approximately)
90% - 100%
=
A- to A
80% - 90%
=
B- to B+
70% - 80%
=
C- to C+
60% - 70%
=
D- to D+
Below 60%
=
Fail
PLANNED TEACHING METHODS/LEARNING STRATEGIES:
X Lecture
Small Group Discussion
X Special Project
Laboratory
X Audiovisual
Other (List)
Supervised Clinical
X Individualized Instruction
Division Chair Approval
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