Course Information Sheet
Bus 1A, Financial Accounting
Spring 2012 Section 4108 TTh 11 - 1
Monterey Peninsula College
Instructor: Jon Mikkelsen
Contacts:
Instructor: Jon Mikkelsen – Phone: 646-4072, Email:jmikkelsen@mpc.edu, Office: BMC203A
Primary class website: http://mpconline.mpc.edu
Homework website: www.pearsonmylab.com
Instructor website: www.mpcfaculty.net/jon_mikkelsen Find office hours and other information.
Academic Support Center/tutoring phone: 646-4176
Student supportive services: 646-4070, or see www.mpc.edu/GotSuccess
Textbook and Other Materials:
Required:
Text Book: Financial Accounting 3rd Edition with MyAccountingLab, Horngren, etal.
Paper or ONLINE version okay
MyAccountingLab access (included with specified text, or buy separately from link on our class website)
Broadband (fast) internet access (available in MPC’s library, BMC labs, and worldwide)
Microsoft Excel or equivalent (available in library and BMC labs), some skills advised
Windows computer or tolerance with occasional reports of Mac compatibility issues
Basic calculator, Scan Tron form 882E test answer sheets, pencils, notebook for in-class note taking
Student Learning Outcomes:
The successful student should be able to prepare basic reliable corporate financial information and to analyze, communicate, and make
decisions based on financial information.
Goals:
This course is designed to help you learn accounting principles and methods of creating and interpreting the primary financial
statements: Balance Sheet, Income Statement, and Statement of Cash Flows. Topics covered include accounting fundamentals,
internal controls, ethics, analyzing, and communicating information. This curriculum requires and develops responsibility, initiative,
ethics, decision making, and teamwork skills.
Objectives:
Students will be able to:
1. effectively integrate the basic vocabulary of accounting into business discussions and writing,
2. properly complete the basic accounting cycle including preparing the primary financial statements,
3. identify and use various accounting methods and techniques involving revenues, expenses, assets, liabilities, equity, and cash
flows,
4. analyze the performance and standing of a firm based on the financial statements,
5. utilize appropriate technology to complete assignments,
6. complete assignments on time and at a high level of quality.
Evaluation:
300
Mid-terms & Final exam (3x100 points=300 points) Automatic make-up: the final exam
replaces one lower grade, or missed mid-term.*
100
Analysis case work*
120
Homework assignments: Submitted online via MyAccountingLab software
20
Attendance and participation (20 points up to 1 absence or tardy, then -10/absence, -3/tardy).
Test day tardy = -3 test points. Bonuses available for consistent extraordinary participation.
540
Total (approximate and subject to change)
*Successful completion is required to earn passing grade even if passing points are earned.
Grading:
90 – 100% = A,
80 – 89% = B,
70 – 79% = C,
60 – 69% = D,
<60% = F
Special Requirements:
The building-block nature of accounting requires consistent participation and timely completion of assignments to keep up with this
fast-paced class. Therefore reading, homework, and other assignments must be completed on time. No make ups are allowed, and no
assignments are accepted late for credit. The trick to mastering this class is to put in the time consistently and aggressively resolve
difficulties before the due dates.
Rev 01/10/12
Course Information Sheet
Bus 1A, Financial Accounting
Spring 2012 Section 4108 TTh 11 - 1
Monterey Peninsula College
Instructor: Jon Mikkelsen
Homework Assignments:
Each chapter’s homework assignment is completed using online software accessible from links on the class web page. The textbook
homework assignments listed on the course schedule share the same content as the assignments online. The homework software
changes the numbers for each student requiring different answers on line than in the paper text. You are encouraged to work together
to help each other master the homework, but each student needs to do their own work. Large scale sharing of answers becomes
plagiarism and is not acceptable. Chapters 2 through 4 require a practice set to enable you work through a full accounting cycle. Use
this tool to help you connect all of the separate learning points of those chapters into one cohesive experience. You are done with
your homework only when you can complete it error free without using any references to help you get through it.
Tests:
Two mid-term exams and one final examination are administered for this class. There are no makeup exams. The final exam will
replace any lower of the two mid-term examinations only if the final exam score is higher. If you miss a mid-term exam, then the
final exam score will count both for the final exam score and again for the missed mid-term exam score. If the final exam is lower,
then the mid-term scores stand. These exams will be given in-class in-person on paper. Tests are to be completed individually,
without assistance.
Extra Credit:
There is no scheduled extra credit for this class. There is an abundance of study material available, and your time and effort will most
effectively improve your score by studying and practicing before exams.
Policies
Dropping:
Students who do not attend the first day of class on time may be dropped from the class by the instructor. Other students may be
added to the class at that time, so the spot may no longer be available. Students may be dropped from the class roster during the
semester due to insufficient class activity as determined by the instructor. The final responsibility to drop is the responsibility of the
student. If you feel lost or hopeless, please contact me so I can try to help look for ways to help you make the right decision.
Plagiarism and Cheating:
The accounting profession cannot tolerate fraud so integrity must start here. Any student found to have plagiarized or otherwise
cheated will automatically receive a zero grade on the entire series of related assignments, and could be subject to further action.
Teamwork is encouraged on homework assignments and other projects. However, teamwork does not include copying from or giving
multiple answers to others. Tests are to be performed without assistance. You are responsible for shielding your answers from plain
view of other students. Cheating in this class destroys the foundation of future learning. Please ask for help at the first sign of trouble,
and get the legitimate assistance you need to really succeed.
Etiquette:
Maintain integrity. Be polite. Be decent. Welcome alternative points of view. Start your work early, especially when in need of help
or when others rely on your input. This class is a profanity and hostility free environment. Have patience and work towards positive
outcomes.
Grading:
Credit/No-Credit grading is facilitated through the Admissions and Records Office. Please contact the Admissions and Records
Office for appropriate deadlines and other information. Letter grades are calculated based on points accumulated. Intermediate points
tracking is the student responsibility. The instructor reports individual assignment grades to the student, then compiles and reports
final grades once at the end of the semester according to the guidelines set forth in the evaluation section above.
Student Supportive Services:
Students with special needs are encouraged to contact Student Supportive Services for accommodations and a variety of available
resources. Learn more about this here: http://www.mpc.edu/GotSuccess
Individual responsibility:
It is solely the student’s individual responsibility to meet all deadlines and requirements for this course. It is the student’s
responsibility and right to ask for help and to proactively overcome any obstacles to successfully complete this course. Your initiative
Rev 01/10/12
Course Information Sheet
Bus 1A, Financial Accounting
Spring 2012 Section 4108 TTh 11 - 1
Monterey Peninsula College
Instructor: Jon Mikkelsen
may be the most important factor in making this a successful class for you. Make sure we give you your money’s worth and tell us if
we need to do something different to help you.
Date
Jan
31
Feb
2
Mar
Rev 01/10/12
Topic
Assignment content in lecture.
Submit homework online
Introduction
Income Statement fundamentals and interpretation
Chapter 1, Accounting
S1-1, S1-7, E1-14, E1-16,
Environment & Fundamentals
E1-17, E1-19, E1-21,
Balance sheet fundamentals and interpretation. The
accounting Equation & double entry accounting
In Class Activities
D: Discussion Case
Groups: CalCPA
Groups: Sox
Easy quiz #2
7
Chapter 1 finish
P1-35A, Practice Set: Page 57
9
Chapter 2 Recording
Transactions
S2-1, S2-6, S2-8,
14
Chapter 2 finish
E2-17, S2-11, Practice Set:
Page 127
16
Chapter 3 Adjusting entries
S3-2, S3-3, E3-19 & E3-20,
E3-22
21
Chapter 3 finish
E3-17, P3-33A, Practice
Set: Page 193
23
Chapter 4 Closing
S4-1, S4-4, S4-5, S4-11
28
Chapter 4 finish
P4-24A, Practice Set: Page
250
1
In-Class Monopoly
Exam Review
Entire Practice Set due before the beginning of class. On time/early attendance is
especially important today.
6
8
Test #1 (ch’s 1-4, the
accounting cycle)
Chapter 5 Merchandising
13
15
Chapter 5 finish
Chapter 6 Inventory
S5-12, P5-33A
20
Chapter 6 finish
E6-27, E6-28
22
Chapter 7 Internal Controls &
Cash
P7-25A, E7-18, E7-21, E722
27
29
Spring Recess
Spring Recess
D: profitability
and strength
D: www.sec.gov,
revenue
recognition
D:sec.gov,
adjustments
D: debt analysis
E5-14, P5-28A, E5-20
D: gross profit
E6-15, E6-16, E6-24, E6-25
D: inventory
analysis
Course Information Sheet
Bus 1A, Financial Accounting
Spring 2012 Section 4108 TTh 11 - 1
Date
Apr
May
Rev 01/10/12
Monterey Peninsula College
Instructor: Jon Mikkelsen
Topic
Assignment content in lecture.
Submit homework online
In Class Activities
(Preview expected)
3
Chapter 7 finish
P7-32A
5
Chapter 8 Receivables
E8-13, E8-14, E8-22
10
12
Chapter 8 finish
Chapter 9 Plant Assets &
Intangibles
S8-4, E8-15, P8-30A
E9-13, E9-14, E9-15, P928A
D: A/R management
17
19
Chapter 9 finish
Exam #2 (ch’s 5-9)
E9-20, E9-23, P9-31A
D: Asset turnover
24
26
Chapter 10 Current Liabilities
Chapter 10 finish
Chapter 11 Begin Long Term
Liabilities
E10-9, E10-10, E10-12
E10-14, P10-15A
1
Chapter 11 finish
E11-16, E11-17, P11-24A
3
Chapter 12 Paid-In Capital
S12-7, E12-15, E12-21,
E12-23
8
Chapter 12 finish
E12-24, E12-25, P12-27A
10
Chapter 13 begin Retained
Earnings & Income Statement
E13-12, E13-14, E13-15,
E13-16
15
Chapter 13 finish
P13-24A, E13-21, P13-28A
17
Chapter 14 Cash Flows
E14-13, S14-4, E14-17,
E14-19
22
Chapter 14 finish
P14-26A
24
Final Exam Review
Bring your prioritized topic
review list to class.
29
Final Exam
Final exam Tuesday May 29th
***10:30am-12:30pm***
in our regular class room.
NOTE that is ½ hour earlier than normal.
E11-13, E11-14, S11-5
D: Sanbanes
Oxley
D: compensation
investigation
D: bond risk &
return
D: price to
earnings ratio
D: DuPont method
return on equity
analysis
D: Cash flow
analysis