ACCT 124, 124H (Honors) - FINANCIAL ACCOUNTING – Principles of Accounting I Mt. San Jacinto College - Menifee Valley Campus Sections 3778/3779, MW 11:00am-12:20pm, Rm. 969 Sections 3781, 3783 Fall Semester, 2011 Associate Professor: David Candelaria, CPA, MST OFFICE Location: Room 962 Phone: 951-639-5522 Email: dcandelaria@msjc.edu Office Hours: M 9-9:30am; 12:30-2:00pm W 9:00-9:30am, 12:30-1:00pm Th 9:00-11:00am Via Email Or By Appointment The best mode to contact me is via email. Include your name, course, and section number in the subject line of your email (ie: John Doe, Acct 124, Section ____). Also include your name in the body of your email message. During the email office hours described above, I should respond quickly. I usually respond to emails outside the email office hours time frame within the same day unless on weekends, which I usually check at least once. Regardless, I will respond to emails sent to me M-Th within 24 hours, with an extra 24 hours allowed for holidays. I will respond to emails sent to me F-Su within 72 hours, with an extra 24 hours allowed for weekday holidays. Emails are expected to include proper punctuation, spelling, and grammar. Emails received not following these expectations will be ignored. COURSE DESCRIPTION An introduction to the basic structure of financial accounting as it relates to business enterprises. INTRODUCTION This course presents fundamental accounting concepts and principles as used in business. The "double entry system", "accrual" method of record keeping is the basic structure of accounting as taught in this class. The student is introduced to accounting techniques applicable to corporate entities such as merchandising enterprises and service business entities. The textbook has been organized to facilitate learning by presenting the concepts and principles in a logical, step-by-step process. Learning is reinforced by using resource materials on the Internet. Page 1 of 7 Each chapter builds on the terminology, concepts and principles introduced in previous chapters. It is important to understand each chapter thoroughly since it becomes the building block for the next chapter. It is also important to keep up with the class. Homework is designed as a practical illustration of the principles presented in the chapters. Learning is best achieved by reading the material from the textbook and Internet resources, and by doing the homework. It is very difficult to understand the accounting concepts without the "hands-on" experience of doing the homework. You will not be able to proceed to the next chapter’s homework without completing the prior chapter’s homework satisfactorily. COURSE OBJECTIVES 1. Identify and define the major accounting concepts and principles within the financial structure of business enterprises. 2. Prepare accounting documents that demonstrate ability to use accounting journals and their concepts. 3. Calculate and prepare reports using typical financial accounting functions of businesses and corporations. 4. Prepare typical documents used in merchandising and service businesses. 5. Prepare typical financial statements for businesses and corporations. 6. Perform financial statement analytical procedures, interpret and explain. 7. Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them. This class provides a sound foundation in the preparation needed to enter the business world of today. Many students, who have applied themselves and mastered an understanding of the principles taught, have obtained bookkeeper or entry level accounting positions upon successful completion of this course. HONORS ADDENDUM Students enrolled in the Honors section of the course will receive an addendum to this syllabus within the first few weeks of class. TEXT AND MATERIALS Financial and Managerial Accounting, Warren/Reeve/Duchac, Edition 11E, South-Western Cengage Learning, bundled with access to CengageNOW. The textbooks may be purchased online through the College bookstore at http://eagleshop.msjc.edu/msjcme. You may also purchase the textbook bundle inside the campus bookstore. I highly recommend purchasing through our bookstore to ensure proper textbook materials. In the past, students have tried to save money by purchasing elsewhere only to find that they have purchased the wrong text and materials and have had to spend more time and money to get the proper ones. Page 2 of 7 A description of the technology supplements available with the text are listed and described in the beginning of the textbook. Additional materials are also available at the publisher’s website, which is http://www.thomsonedu.com/accounting/warren. You will have to select the proper textbook and do some navigating after entering this site. I highly recommend checking it out. There are a lot of extras available. You may also access this site with a more direct link in CengageNOW. In-class tests will require the use of SCANTRON sheets for the multiple-choice portion. The problems portion of the exams will be completed on the test forms provided by the instructor. SCANTRON Form No. 882-E is required for each exam. Failure to use the correct SCANTRON form will result in an automatic loss of five (5) percent on the exam. HOMEWORK ON CENGAGENOW Most of the homework will be completed in CengageNOW (NOW), the Web-based supplement that, among other things, duplicates structures directly from the end-of-chapter material in your textbook. You will be given instructions to access NOW in a document I will post in Blackboard. You are required to access the website and register as a student using the access code bundled with your textbook. It is imperative that each student complete this process before the end of the first week of class to avoid potential disasters that can occur from not completing homework in a timely manner. The two lowest “regular” textbook homework scores will be dropped. “Regular” homework is defined as the set of homework that corresponds to the end of chapter material in the textbook worth a total of 20 points per chapter (excluding PS Music and Blue Print Problems). You will also not be able to access a given chapter’s “regular” homework without satisfactory completion of the previous chapter’s “regular” homework, for which late penalties will apply to this late work. There are 3 “Takes” allowed for each assignment. You will usually be able to print the assignment before taking it. I highly recommend each student do this so that you may work on the assignments outside NOW and go back to enter and check your answers later. This has proven to be very helpful to past students. You will not be able to take a particular chapter’s “regular” homework without successful completion of the prior chapter’s “regular” homework with at least 75% accuracy, or 15/20 points. Each assignment will allow for 5 “Check My Works”. There is a 5% penalty for turning in any assignment late with an additional 5% penalty applied daily. The penalty structure is designed to provide that much more incentive to stay current in the class. Experience has shown that students not completing homework timely generally do not do well in this class. Accounting is learned with practice, not with simple memorization. GRADING POLICIES You will be evaluated on homework exercises and problems assigned from the textbook and CengageNOW, Internet research, and discussion group projects. Your final grade for accounting will be determined by the number of points you earn on assignments, group projects, discussion groups, and examinations. Irregular attendance will cause you to fall behind. Once you fall behind it will be very difficult Page 3 of 7 to catch up. After six hours of absence you may be dropped from the course. Late homework will not be accepted unless special arrangements are made with the instructor prior to the due date. Examinations will be given on the dates indicated unless otherwise announced. All of the material presented in the text, lectures, handouts, online, etc. is considered fair game for the tests. Tests may consist of true/false, multiple choice, fill-in-the-blank, and problem-solving questions. No make-up tests will be given except for special circumstances, which must be individually arranged with the instructor prior to the test date. Class notes may be allowed for some tests. Points & Letter Grades Total points available for the semester include: Assignment Zero in NOW Textbook Homework – approx. 20 pts each chapter Continuing Problem PS Music – 20 pts each chapter 1-4 NOW Blue Print Problems – approx. 20 pts each chapter* Chapter Quizzes – 30 pts each chapter Chapter Tests – 100 pts per chapter tested including Final Approximate Total - Sections 3778 & 3779 Discussion Boards – 10 pts each (approx. 14) NOW Individual Study Plans – 15 pts each chapter Approximate Total – Sections 3781 & 3783 10 280 80 280 420 1400 2470 pts 140 210 2820 pts *Some chapters may not have one. To earn a letter grade for three semester units, you must accumulate a percentage of the total points available according to the following: 90% to 100% = A 80% to 89% = B 70% to 79% = C 60% to 69% = D Each student has access to Blackboard via http://my.msjc.edu. Instructions for access are available at the site. Each student may access his/her own grade book that is available in the course’s Blackboard site. Grades will generally be posted for homework and tests within seven working days following the due date. While the online grade book function in Blackboard provides the student quick access to assignment scores, etc., the official grade book is administered by the instructor. To calculate your current grade, simply divide the total points earned at a particular point in time by the total points possible at that same point in time. The percentage calculated may be compared to those above. Should a student see a discrepancy in the Blackboard online grade book, he/she should contact the instructor immediately. LEARNING ENVIRONMENT All students are entitled to an environment that encourages learning. If a student behaves in a manner that negatively affects other class members, he or she is guilty of disruptive behavior. Such behavior will be dealt with in a manner consistent with school policy. When participating in discussion boards, chat rooms, or e-mailing your classmates, students are expected to behave Page 4 of 7 with the same level of courtesy as in a face-to-face classroom. Obscene and other inappropriate messages will result in dismissal from the class. Chain letters, forwarding jokes or other items that do not pertain to the course are strictly prohibited. DISABLED STUDENTS POLICY STATEMENT Mt. San Jacinto College abides by the Americans with Disabilities Act and Section 504 of the Rehabilitation Act of 1973 that prohibits federal and state agencies or programs from discriminating against qualified individuals with disabilities. If you have a documented disability that limits a major life activity which may have some impact on your work in this class and for which you may require accommodations, please contact Disabled Students Programs and Services (DSP&S). DSP&S is in the following locations: San Jacinto Campus – room #1112, Menifee Valley Campus - #1019 or visit the DSP&S webpage at http://www.msjc.edu/dsps. GENERAL POLICIES 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. All assignments and examinations must be completed when due. Late assignments and examinations may not be made up unless special arrangements are made with the instructor. Announcements of assignments for extra credit, etc. may be given. It is the student's responsibility to attend classes and keep informed of such announcements and to check for announcements in Blackboard. Final examination is mandatory and attendance is required at final class meeting. If student finds it necessary to drop the course, it is his/her responsibility to submit a drop card to the Admissions Office. Cheating/plagiarism is not allowed, discovery of which may result in student being dropped from the class. Refer to the Student Code of Conduct presented in the MSJC general catalog. Pager and cell phone noise will not be tolerated. Computers are available for student use in various locations on both the Menifee and San Jacinto campuses. Ask your instructor for details. Student use of school computers must meet the MSJC Acceptable Use Policy. Each student is responsible for having his/her own calculator for exams. The calculator available on the computers and on cell phones will not be allowed. No PDAs or other electronic devices are allowed either. Attendance Policy – For face-to-face classes, after six hours of absence you may be dropped from the course. For online classes, after seven consecutive days of not accessing the course or if the instructor deems that you have not completed enough recent tests, quizzes, and/or assignments, you may be dropped. Students are responsible for their own work. It is suggested that each student create a folder containing all work completed, both a physical and an electronic folder. Any problems encountered with the course in the Blackboard course management system should be reported to the instructor immediately via email. If the problem is generic to Blackboard and not course specific, contact the Support Center. Details are posted in the Blackboard Help navigation area in your Blackboard course shell. Page 5 of 7 ASSIGNMENTS Textbook & Internet The weekly assignment schedule outlines the textbook chapters to be studied and the assignment to be completed by the student that week. Included as part of each chapter assignment from the text, it is recommended that the student complete the multiple-choice questions at the end of the chapter. The answers to these questions may be found on the last page of each chapter. They are not graded. The student is expected to be prepared for each class, which includes, at the very least, reading the chapter ahead of time. Chapter handouts will assist in following the lectures and will be available in Blackboard within a few days before coverage of the chapter material begins. It is recommended that each student print a copy and bring them to class. The procedure to be followed in class will be: 1. Discuss material from the textbook. 2. Go over assigned problems as time permits. 3. Complete and turn in homework and quizzes as indicated on the Assignment Schedule. The successful student will participate in class discussions, answer questions, complete all homework assignments and tests, and demonstrate mastery of chapter learning objectives with a minimum of 70% accuracy. ASSIGNMENT SCHEDULE AND LEARNING OBJECTIVE SUMMARY Abbreviations used in reference to assignments from the textbook: CH = Chapter EO = Eye Openers EX = Exercise PR = Problem PE = Practice Exercise CP = Comprehensive Problem SA = Special Activities QUIZZES The quizzes will be completed on the computer in Blackboard for each chapter. They are to be completed by 11:55pm of the date given in the assignment schedule, unless otherwise announced. Each quiz is worth a total of 30 points. Make sure you are ready to take the quiz before accessing it. You will only have one attempt. To access the quizzes, enter the Blackboard site for the course, click on the Test and Quizzes button in the Navigation Bar, then click on the appropriate quiz. You will have 45 minutes to take the quiz. After completion, click on the submit button at the bottom right hand corner of the screen following the last question. You will get immediate feedback and you may view your grade in the grade book. The two lowest quiz scores will be dropped. Late quizzes will not be accepted unless special arrangements are made with the instructor prior to the due date. Page 6 of 7 QUIZ PRECAUTIONS The following are precautions and suggestions to have a positive quiz experience and avoid problems. This list is an accumulation of issues that have surfaced in the past. 1. It is highly recommended that the student take the quiz with a high speed connection, such as DSL or Cable. 2. Do not rush through the screens during the quiz. Make sure a requested screen is fully loaded before requesting another. Pushing Blackboard to move the quiz along faster than it is capable of will cause it to lock up. 3. Be careful of Blackboard’s timeout feature. Move the mouse periodically to engage the site. This will assist in avoiding Bb from timing out. 4. AOL is known to have issues with Blackboard. Please do not take the quiz using AOL. Use Internet Explorer (IE) or another popular browser. I use IE 8 in compatibility view, have cleared out the cache, and answer NO to the security question that periodically pops up. Pop ups must be enabled in the Bb site. Version 9 of IE appears to have issues with Bb. Please do not use it. 5. Do not use any of the browser functions (ie: back, forward). These will instantly lock up the quiz. 6. Do not try to alter the display, ie: collapse menus to increase display size of quiz view. 7. Do not exceed the allotted time. Watch your time closely with a clock or watch. 8. User environment variables to be concerned with: a. Wireless connections are not recommended. You can use an Ethernet cable to hardwire a laptop or other computer. b. Network connection stability c. Internet Connection such as ISP policies including timing out of sessions d. Stability of computer (i.e., viruses, malware, spyware, etc.) e. User actions 9. Make sure there is only one Blackboard session open at a time. In other words, do not have one window open while you are taking a quiz and another open for course navigation. The multiple logins may cause an error. 10. If possible please have only the browser window where you are taking the quiz open. Closing all other unrelated browser windows will give you the best chance of completing your assessment without errors. 11. While you are taking your quiz you should also close any other programs or applications that are not essential for completing your quiz (e.g. RealPlayer, MusicMatch, Adobe Photoshop, QuickTime, Microsoft Outlook, MSN Messenger etc.) 12. Take caution if you plan to wait until the last day to take the quiz. In the past, some of the students have waited until the last evening to take the quiz and experienced technical difficulties during the quiz. This required a restart of the exam; however, the student was not able to contact the instructor in a timely manner, which caused both the student and the instructor quite a bit of grief. This may also cause the student to receive a zero on the quiz for not completing it in a timely manner. 13. There will only be one restart available per student for the entire semester. This is being made available in case someone has a computer glitch, etc. that causes them to be unable to complete a quiz the first time. It is the student's responsibility to contact the instructor via email in time to have the restart done. Extra credit of 10 points will be awarded to each student at the end of the semester that does not require a restart on any quiz or online test for the entire semester. Page 7 of 7