Department: Business Studies
Discipline: Business/Management
Subject Code: ACCT
Course #: 101
Course Title: Principles of Accounting I
HARRISBURG AREA COMMUNITY COLLEGE
FORM 335
Course Form 335 must be updated at least every five years per AP 765 to include, at a
minimum, the following elements. [§335.2]
1.
Digital Description:
Credit hours:
Lecture hours:
Lab hours:
4.0
4.0
0.0
BL: [ ]⅓ [X]½ [ ]⅔ [ ]Other (Indicate fraction or percent)
2.
Catalog Description:
Introduction to generally accepted accounting principles as they pertain to external
financial reports. The accounting cycle, accounting systems, theories and policies
relative to asset valuation, liability measurement, and income determination are
presented. Emphasis is placed on accounting from sole proprietorships and partnerships.
Minimum Grade Required
3.
Prerequisites: None
Corequisites:
Other:
4.
Learning Outcomes
[These outcomes are necessary to enable students to attain the essential
knowledge and skills embodied in the program’s educational objectives.]
Upon successful completion of the course the student will be able to:










Describe the opportunities and challenges that come with a career in accounting
Explain the role of ethics in financial reporting
Describe a chart of accounts and its use in the accounting process
Record business events using the accounting equation
Use journal entries to adjust the accounts to reflect accruals and deferrals
Analyze and recommend improvements to internal control systems based on
established principles
Record and report on inventory transactions using a perpetual system
Explain how gains and losses differ from revenues and expenses
Compare and contrast single and multi-step income statements
Determine the amount net sales and net purchases
12/1/04
Review and updated: 10/26/07; 1/11/08; 1/16/09; 7/14/09; 7/14/11; 7/31/12
Department: Business Studies
Discipline: Business/Management
Subject Code: ACCT
Course #: 101
Course Title: Principles of Accounting I














5.
Planned Sequence of Learning Activities
[These must be designed to help students achieve the learning outcomes.]










6.
Calculate cost of goods sold and ending inventory using different cost flow
assumptions.
Apply lower-of-cost-or-market rule to inventory valuation
Prepare a bank reconciliation
Differentiate between forms (corporation and sole proprietorship) of organization
for business
Explain the accounting principles and reporting of the allowance method for
accounting for doubtful accounts and how it affects financial statements
Account for notes receivable, notes payable and accrued interest
Explain how credit card sales affect the financial statements
Determine how to record the acquisition and use of long-term assets
Determine how gains and losses on the disposal of long-term assets affect the
financial statements
Show how changes in estimates and continuing expenditures for long-term assets
affect the financial statements
Illustrate the effect of warranties on the financial statements
Determine payroll taxes and demonstrate how they affect the financial statements
Record transactions using the general journal format and show their effect on the
financial statements
Use a trial balance to prepare financial statements and interpret what they mean
Accounting as the Language of Business
Analyzing Transactions, Recording and Summarizing Journal Entries
Adjusting Entries and Financial Statement Preparation
Accounting for Merchandising Operations
Inventories and Cost of Sales
Accounting Information Systems
Cash and Internal Control
Accounting for Receivables
Plant Assets, Natural Resources, and Intangible
Current Liabilities and Payroll Accounting
Assessment of Student Learning
[Methods of assessment should be appropriate for Learning Outcomes listed above.]
Assessment of student learning outcomes for the course, as required by AP 765, is part of
regular curriculum maintenance and/or improvement. The specific assessment plan will
consist of embedded accounting problem questions that will be the same for all sections
and address on a rotational basis the learning outcomes shown above. The specific
12/1/04
Review and updated: 10/26/07; 1/11/08; 1/16/09; 7/14/09; 7/14/11; 7/31/12
Department: Business Studies
Discipline: Business/Management
Subject Code: ACCT
Course #: 101
Course Title: Principles of Accounting I
problems and details on how they should be administered will be determined by the
discipline faculty and maintained in the College’s assessment management system.
7.
List of Texts, References, Selected Library Resources or other Learning Materials
(code each item based on instructional use): C-Lecture/Laboratory, A-Lecture, BLaboratory, LC-Lecture/Clinical, CLN-Clinical, I-Online,
BL-Blended, D-Independent Study, P-Private Lessons, E-Internship,
F-Cooperative Work-Study, FE-Field Experience. [These resources must be easily
accessible to students.]
Wild, John J., Kermit D. Larson, & Barbara Chiapetta. Fundamental Accounting
Principles, 21st Edition, Irwin McGraw-Hill Publishing, 2013.
OR
Hoyle, Joe & C.J. Skender. Financial Accounting. 2nd edition, FlatWorld Knowledge,
2012
8.
Prepared by Faculty Member: Joseph Plebani
Date: 4/16/13
9.
Approved by Department Chairperson: Michelle Myers
Date: 4/16/13
10.
Approved by Academic Division Dean: Cheryl L. Batdorf
Date: 4/30/13
This course meets all reimbursement requirements of Chapter 335, subchapters A /
B.
This course was developed, approved, and offered in accordance with the policies,
standards, guidelines, and practices established by the College. It is consistent with
the college mission.
If the course described here is a transfer course, it is comparable to similar courses
generally accepted for transfer to accredited four-year colleges and universities.
11.
Director, Curriculum Compliance: Erika Steenland
Date: 5/6/13
12.
Provost & VP, Academic Affairs: James E. Baxter, P.G.
Date: 5/7/13
13.
Original Date of course approval by the college: 196510
14.
Date(s) of subsequent reviews [Indicate change: Learning Outcomes; textbook(s)]:
4/19/10 (Type of Instruction)
2/4/11 (Updated Textbook Edition)
4/18/13 – Textbook, learning outcomes, sequence of instruction, & Assessment
12/1/04
Review and updated: 10/26/07; 1/11/08; 1/16/09; 7/14/09; 7/14/11; 7/31/12