Heartland Community College
Social and Business Sciences Division
Course Syllabus for Students
Course Prefix and Number: ACCT 120-01
Course Title: Small Business Accounting
Prerequisite: None
Credit Hours: Lecture Hours 3 Laboratory Hours 0
Days and times the course meets: Fall 2011 11:00 am – 12:15 pm Tuesday and Thursday
Catalog Description:
This course provides an introduction to general financial accounting principles and their application for
small businesses. Topics will include the accounting cycle, payroll, cash, receivables, payables, inventory,
depreciation, and financial statement preparation. Practical application of accounting principles will be
emphasized throughout the course.
Instructor Information:
Betty Pilchard, M.S., C.P.A.
Office location: ICN 2012
E-Mail: betty.pilchard@heartland.edu
Office phone: 268-8586
Office hours: 10:00-11:50 am Monday, 1:00 pm-2:00 pm Tuesday and Thursday, 2:00 pm-3:00 pm
Wednesday, and other times by appointment only
Textbook and supplies:
Slater, Jeffrey, College Accounting, 11th edition, New York: Pearson Learning Solutions. Custom
Published for Heartland Community College
MyAccountingLab student access code
Peachtree Complete Accounting 2009
Relationship to Academic Development Programs and Transfer:
ACCT 120 was designed to meet the specific needs of students in the Small Business Management and
the Microcomputer Applications programs and not necessarily as a transfer course, particularly in relation
to the Illinois Articulation Initiative. This course may transfer to various institutions in a variety of ways.
Please see an academic advisor for an explanation concerning transfer options.
It should be noted that this course generally will not transfer as Financial Accounting or Managerial
Accounting as required for most four-year business degrees.
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LEARNING OUTCOMES:
Course Outcomes
General
Education
Outcomes
1. Describe the role of accounting as an
information development and
communication system that provides
information for economic decisionmaking.
2. Apply the accrual basis accounting
rules to analyze and record transactions
throughout the accounting cycle
including year-end adjustments for
accruals and deferrals and closing
entries.
3. Prepare a classified balance sheet, a
single-step income statement for a
service business, and a multi-step
income statement for a merchandising
business.
4. Utilize payroll accounting record
keeping procedures to compute, record,
and report payroll and payroll tax
obligations.
5. Analyze and record sales, inventory,
and cost of goods sold transactions
using the periodic inventory method.
6. Identify and analyze the components of
an internal control system and the
internal control activities necessary to
safeguard assets and assure the accuracy
and reliability of accounting records.
7. Analyze and record transactions related
to vendors and customers utilizing a
subsidiary ledger system.
8. Analyze and record transactions related
to the acquisition, depreciation, and
disposal of plant assets.
9. Analyze and record owner equity
transactions for sole proprietorship or a
partnership.
10. Utilize accounting general ledger
software to record basic accounting
transactions.
Throughout
the semester,
students will
achieve the
following Gen
Ed outcomes:
PS 1
PS 2
CT 1
CT 2
Program
Outcomes
Accounting
Foundations*
Throughout
the semester,
students will
achieve the
following
Accounting
Foundations
program
outcomes:
AF 1
AF 2
AF 3
AF 4
Range of
Assessment
Methods
Throughout the
semester, the
following
assessment
methods will be
used to measure
the course,
program, and
Gen Ed learning
outcomes:
Homework,
Exams, Quizzes,
Cases and other
activities as
determined by
the instructor.
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* Accounting Foundations Outcomes:
AF 1 Use critical thinking skills to complete all steps of the accounting cycle according to
generally accepted accounting practices, both manually and using computerized
accounting software, and to prepare financial statements for a company.
AF 2 Create, manage, and protect the accounting information systems, accounting records,
payroll records, and customer and vendor information in accordance with appropriate
laws and regulations, ethical standards, and management policies
AF 3 Prepare accounting records and documentation necessary to prepare sales, payroll, and
income tax returns.
AF 4 Understand and practice professional work habits expected in the accounting field,
including confidentiality and accounting ethics.
COURSE/LAB OUTLINE:
1.
2.
3.
4.
5.
6.
7.
8.
9.
Introduction to Accounting and the Accounting Model
The Accounting Cycle
Accounting for Cash and Internal Control
Accounting for Payroll and Related Liabilities
Accounting for Merchandising Businesses
Accounting for Receivables and Payables
Accounting for Plant Assets
Accounting for Owners’ Equity for Partnerships
Classified Financial Statements
STUDENT LEARNING AND SUCCESS
Philosophy of Teaching and Learning
My philosophy of teaching and learning revolves around the belief that the ultimate responsibility for
learning belongs to the student while it is the teacher’s responsibility direct the learning process by
providing a classroom environment that encourages the student to reach for their fullest individual
potential.
As the teacher, I have a responsibility to direct the learning process by providing:
 a classroom environment that is respectful and supportive of the student while encouraging
student success
 an appropriate mix of course materials and activities to help the student learn the subject matter
 assistance with understanding the basic theories and principles of accounting/business that
correlate to the course materials
 opportunities for students to assess their learning before they are evaluated for grades
 an introduction to the basic principles, strategies or decision making tools that will provide the
foundation needed for the students’ future studies in accounting and business as well as for their
lives/jobs.
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As the student, you have a responsibility to:
 be prepared for class
 be willing to actively participate in all course related activities
 be respectful of the instructor and the other students in the classroom
 assess your own learning so you can communicate effectively when you encounter difficulties
with course materials.
I believe there is definitely a reciprocal relationship between my responsibilities as the teacher and your
responsibilities as a student. Over the years I have found that if I live up to my responsibilities as the
instructor, you will find your responsibilities much easier, and vice versa. I have also found that if I live
up to my responsibilities, you are much more likely to take you responsibilities more seriously and that is
when you will begin to see your true individual potential.
STUDENT SUCCESS
1.
2.
3.
4.
5.
6.
7.
Attend all classes and participate in class discussions!
Read and review all assigned material prior to class.
Complete all assigned homework problems/exercises prior to class. After the assignments have
been discussed in class, review the problems/exercises and complete all aspects of the assignment
for future reference.
Complete all assigned cases and prepare for all other class activities.
Review chapter materials on the website.
Take quizzes and exams based on material covered or assigned.
Ask questions!!!
COURSE POLICIES
Grading System:
Total points accumulated during the semester will determine course grades. Points will be assigned as
follows:
Prequizzes (top 11)
44 points
In Class Quizzes (top 8)
80 points
Online Homework (top 15)
150 points
Cases (3)
76 points
Hourly exams (2)
200 points
Final exam
100 points
Total points possible
650 points
Grading Scale:
The grading scale used to determine the course grade will be:
A = 582 to 650 points
B = 514 to 581 points
C = 446 to 513 points
D = 378 to 445 points
F = Less than 378 points
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Policies on Assignments/Tests/Make-ups:
All online activities that are graded for course points must be completed by the due dates announced in
class or posted on the webpage to receive credit.
***
NO ONLINE TIME EXTENSIONS WILL BE GIVEN, NO EXCEPTIONS.***
The Prequiz for each chapter must be completed online before we begin discussion of that chapter’s
assignments in class. The pre-quizzes are NOT timed and you are given three chances to complete each
quiz. The pre-quizzes are designed to assess your comprehension from reading that chapter. There are 13
prequizzes available and only the top 11 scores will be used in the determination of your course grade.
The online homework assignments for each chapter must be completed online. They are NOT timed and
you are given multiple chances to complete each assignment. Each assignment will have a weighted
value of 10 points and your highest attempt will be used. There will be at least 19 homework assignments
and only the top 15 scores will be used in the determination of your final course grade.
In class quizzes will be given throughout the course. Most of the quizzes will be announced in the class
period prior to the quiz; however, some of the quizzes may be unannounced. There will be at least 10
quizzes given during the semester, only the top 8 quiz grades will be used in the determination of your
course grade.
***NO MAKE UP QUIZZES WILL BE GIVEN, NO EXCEPTIONS.***
Three cases (extended practice problems) will be assigned during the semester and must be completed by
the due dates announced in class to receive credit. Portions of the cases will be completed utilizing
computerized accounting software.
Students will be allowed to use calculators during quizzes and examinations. Students are responsible for
completing quizzes/exams within the allotted time period in case of calculator failure. Calculators on
cell phones or other electronic devices may not be used during quizzes or examinations.
Examinations will consist of problems, much like those assigned in each chapter, as well as multiple
choice, true-false, and/or essay questions that are included to test your conceptual understanding of the
material.
***MAKEUP EXAMS WILL BE GIVEN ONLY IF ARRANGED IN ADVANCE UNLESS
SEVERE, EXTENUATING CIRCUMSTANCES CAN BE DOCUMENTED. ***
Anyone who removes an exam, in part or in total, from the classroom at anytime will be given a grade of
"F" for the course. Reproduction of the contents of the exam by any process will result in your receiving
a grade of "F" for the course.
Attendance Policy:
All students are expected to attend class on a regular basis. Consistent class attendance and participation
is critical in the learning process since accounting knowledge tends to be cumulative in nature. Some
problems will be completed in small groups; you are expected to attend each class period to participate as
part of the class. Class attendance and participation in class activities will be evaluated by the instructor
and may be considered as part of determining your final course grade. As required by the state, I will take
attendance on a daily basis and you must be in class the entire class period to be considered present that
day.
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Student Conduct:
The environment in the classroom is an important part of the learning process. It should be free of
unnecessary interruptions. Students should be in the classroom prior to start time and stay in the
classroom until the class has ended. Coming in late or leaving early is disruptive to the learning
process. Additionally the use of cell phones during class is disruptive behavior. Please put cell phones
away during class time. Students should conduct themselves in a professional manner at all times.
Notice of Cancelled Class Sessions
Cancelled class sessions, for all HCC classes, will be listed under Cancelled Class Meetings
announcements at www.myheartland.edu. The list will show you the classes have been cancelled for that
day and the upcoming week. Be sure to check the last column, which might contain a message from the
instructor.
Academic Integrity
Academic integrity is a fundamental principle of collegial life at Heartland Community College and is
essential to the credibility of the College’s educational programs. Moreover, because grading may be
competitive, students who misrepresent their academic work violate the right of their fellow students. The
College, therefore, views any act of academic dishonest as a serious offense requiring disciplinary
measures, including course failure, suspension, and even expulsion from the College. In addition, an act
of academic dishonesty may have unforeseen effects far beyond any officially imposed penalties.
Violations of academic integrity include, but are not limited to cheating, aiding or suborning cheating or
other acts of academic dishonesty, plagiarism, misrepresentation of data, falsification of academic records
or documents and unauthorized access to computerized academic or administrative records or systems.
Definitions of these violations may be found in the college catalog.
Syllabus Disclaimer
The instructor reserves the right to alter the course syllabus as circumstances dictate. Any changes will be
announced in class and/or emailed. Any student not attending class is responsible for obtaining this
information.
STUDENT SUPPORT SERVICES
Services in Testing Center (Student Commons Building 2001)
Testing Services
Testing Services provides a secure testing environment for students who are enrolled in online, hybrid,
and other distance learning courses; have a documented disability; or need to take a make-up exam.
Testing accommodations for students having documented disabilities must be arranged by the student
through Disability Support Services, and Testing Services will only administer make-up exams at the
request of the instructor. For more information, please call (309) 268-8050.
Services in Academic Support Center (1st Floor Student Commons Building)
Library
The Library provides fast and free access to credible information from a full range of resources including
books, online journals, videos, newspapers, online music, class reserves, and interlibrary loan.
Individualize research by appointment or come in anytime. See the Library tab in myHeartland, email
library@heartland.edu or call (309) 268-8292 for details.
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Tutoring Services
Tutoring Services provides tutoring in various forms at no cost to Heartland students in Normal, Pontiac,
and Lincoln. Tutors are available at convenient times throughout the week. Study groups are also
available by request. For more information about services available at each location, please call (309)
268-8231 (Normal), (815) 842-6777 (Pontiac), or (217) 735-1731 (Lincoln).
Disability Support Services
Disability Support Services (DSS) ensures that students with disabilities have equal access to the
college’s programs, services and activities through the provision of reasonable accommodations as
mandated in Section 504 of the Rehabilitation Act and the Americans with Disabilities Act. DSS offers a
wide range of services to support students with disabilities, including: assistive technology, document
conversion services, personnel, classroom and testing accommodations. Students with a documented
disability who wish to discuss academic accommodations should call (309) 268-8259 for details.
Open Computing Lab
The Open Computing Lab provides free computing for HCC students at convenient times throughout the
week. The computer lab is staffed by trained Lab Assistants and offers the use of approximately 70
computers, a scanner, a laser printer, and an electric typewriter.
Services in Community Commons Building (1st Floor Raab Road campus)
Academic Advising
Academic advisors provide information to students about degree/program requirements, transferability of
courses, GPA, and enrollment. Academic Advising may also provide workshops on time management,
IRIS navigation, or specific career fields. For more information, please call (309) 268-8033.
Career Services
Career Services offers guidance and resources to assist students determine their career goals, develop
employability and job search skills, and connect with potential employers. In addition, two experiential
learning programs, job shadowing and internships, provide students with relevant work-based learning
opportunities. Job shadowing assists students in clarifying their career goals. Internships help students
“bridge the gap” between the academic environment and employment in their chosen career fields. For
more information, please call Career Services at (309) 268-8034.
Counseling Services
The personal development counselor provides confidential and professional counseling for both
emergency and personal issues. Services also include referrals to local community resources. For more
information, please call (309) 268-8033.
Financial Aid Office
The Financial Aid Office provides information on programs and types of financial aid available to
students. For more information, please call (309) 268-8020.
Transcripts
Official and unofficial transcripts may be obtained at the Student Records desk. Transcripts may also be
obtained at Heartland’s Lincoln and Pontiac sites. Transcripts must be requested in writing. The form is
available online (http://www.heartland.edu/transcripts/index.jsp) or at the Student Records desk.
Hours for Support Services
Hours that the various support services are available are posted online at www.heartland.edu . Please be
advised that hours around holidays and over school breaks may be limited.
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ACCOUNTING 120 – Class Schedule
Fall 2011 (TR)
Date
8/23
Chpt Online Activities*
8/25
1
C1 Prequiz
8/30
1
C1.1 Homework
9/01
1
C1.2 Homework
9/06
2
C2 Prequiz
C2.1 Homework
9/08
2
C2.2 Homework
9/13
3
C3 Prequiz
9/15
3
C3.1 Homework
9/20
4
C4 Prequiz
C4.1 Homework
9/22
4
C4.2 Homework
9/27
5
C5 Prequiz
C5.1 Homework
9/29
5
C5.2 Homework
10/04
EXAM 1 (Chapters 1-6)
10/06
6
10/11
10/13
10/18
10/20
10/25
Discussion Topic and Class Activities
Course Introduction
Introduction to Accounting
 CDE 1, CDE8, E1-3
The Accounting Equation
 E1-4, E1-5
Financial Statements
 P1A-3, P1A-4
The Debit Credit Model
 CDE2, E2-4, P2A-2
Recording Business Transactions
 P2A-3
General Journal Entries
 E3-2, P3A-2
The Accounting Cycle
 Peachtree Case 1
Adjusting Entries
 E4-2, E4-3, Handout
Adjusting Entries
 E4-4, P4A-2, P4A-3
Closing Entries
 E5-2, E5-3, E5-5
Review of the Accounting Cycle

P5A-3
Cash Receipts & Banking Procedures
 CDE 3 , P6A-1, P6A-2
Petty Cash & Internal Control for Cash
6
C6.1 Homework
 E6-2, E6-3, E6-4, P6A-3
Computing Payroll and Payroll Taxes
7
C7 Prequiz
 CDE 2, CDE3, E7-1, E7-3
Completing a Payroll Register
7
C7.1 Homework
 P7A-2, P7A-4
 Payroll Case Starts
Accounting for Payroll
8
C8 Prequiz
 E8-2, E8-3, E8-4
Reporting Payroll Taxes
8
C8.1 Homework
 P8A-1, P8A-4, P8A-5
* Online activities due by 8:00 am unless otherwise specified
C6 Prequiz
10
Date
Chpt
Online Activities*
10/27 8
C8.2 Homework
11/01 16
C16 Prequiz
C16.1 Homework
11/03 16
C16.2 Homework
Discussion Topic and Class Activities
Reporting Payroll Taxes in Illinois
 In Class Activities
Accounting for Purchase and Depreciation of Plant Assets
 CDE1, P16A-2, CDE6, P16A-1
 Payroll Case Due
Accounting for the Disposal of Plant Assets
 P16A-3, E16-4, E16-6, P16A-4
11/08 Exam II – Chapters 6-8 & 16
Sales & Accounts Receivable
 E9-4, E9-5
Cash Receipts and Purchases
 P9A-2, P9A-3, P10A-1
Purchases and Accounts Payable
 P10-A2, E10-3
Inventory Accounting
 E10-8, E10-9, P10A-5
Adjusting entries and Cost of Goods Sold
 E11-2, P11A-4, P11A-4
11/10 9
C9 Prequiz
11/15 9
C9.1 Homework
11/17 10
C10 Prequiz
11/20 10
C10.1 Homework
11/22 11
C11 Prequiz
11/24
11/29 11
THANKSGIVING
C11.1 Homework Peachtree Case 2
Classified Financial Statements
C12 Prequiz
C12.1 Homework
 E12-1, P12A-2, P12A-3
Accounting for Partnership Equity
C17 Prequiz
 P17A-1, P17A-2, P17A-3
Accounting for Partnership Equity
C17.1 Homework
 CDE 9, P17A-4
12/01 12
12/06 17
12/08 17
12/15 Final Exam (Chapters 9-12, 17) 10:00 -- 11:50 am
* Online activities due by 8:00 am unless otherwise specified
The instructor reserves the right to alter the course syllabus as circumstances dictate. Any changes
will be announced in class and/or emailed. Any student not attending class is responsible for
obtaining this information.