Maui Community College
Course Outline
1.
Alpha and Number
ACC 124
Course Title
Principles of Accounting I
Credits
Three ( 3 )
Date of Outline
March 16, 2007
2.
Course Description
Introduces basic accounting principles and
practices, including the accounting cycle, use of the
general and special journals, general ledgers, financial
statements, banking transactions, payroll accounting,
and adjusting and closing entries for merchandise
inventory.
3.
Contact Hours/Type
Three (3) hours/Lecture
4.
Prerequisites
ENG 19 with grade C or better or placement at least
ENG 22 or 55, and MTHN 1 or 2 with passing grade or
placement at least MATH 22; or consent.
Corequisites
Recommend Preparation
Approved by
Date
5.
General Course Objectives
To develop working skills with the goals and methods of generally accepted accounting
principles, including practical application and understanding of the accounting cycle, use of the
general journal, special journals and ledger, adjusting entries and the worksheet, closing entries
and a post-closing trial balance, internal cash control and payroll.
For detailed information on how ACC 124 focuses on the Maui Community College general
education standards, see the attached curricular grids.
ACC 124 fulfills three of the 21 credits for the Accounting requirements for the A.A.S. Accounting
degree at Maui Community College, and the three credit requirement in Applied Studies for the
Liberal Arts A.A. degree.
6.
Student Learning Outcomes
For assessment purposes, these are linked to # 7. Recommended Course Content
Upon successful completion of this course, the student will be able to
a.
b.
c.
d.
e.
f.
g.
h.
i.
j.
k.
l.
m.
n.
7.
explain the concept and steps of the accounting cycle;
explain the accrual and cash basis of accounting;
define basic accounting terminology;
classify accounts and apply the concept of debit and credit;
describe the effects of business transactions on the assets, liabilities and owner’s equity,
revenues and expenses of a proprietorship;
record business transactions in the general and/or special journals utilizing the double
entry mechanism;
post transactions from the journals to accounts in the general ledger and subsidiary
ledgers;
complete an end-of period worksheet;
prepare an Income Statement, Statement of Owner’s Equity, and Balance Sheet;
journalize and post adjusting and closing entries for service and merchandising
companies;
prepare a post-closing trial balance;
prepare a Bank Reconciliation Report;
explain petty cash and change fund procedures;
explain the process of payroll accounting in terms of employee earnings, deductions, and
employer responsibilities for taxes, payments and reports.
Recommended Course Content and Approximate Time Spent on Each Topic
Linked to # 6. Student Learning Outcomes
1-2 Weeks:
Asset, Liability, Owner’s Equity, Revenue, and Expense
accounts (a, b, d, f, g)
1-3 Weeks:
T-accounts, Debits and Credits, Trial Balance, and Financial
Statements (a – g)
1-2 Weeks:
The General Journal and General Ledger (d – i)
1-3 Weeks
Adjusting Entries and the Worksheet (c, j, k)
1-2 Weeks
Closing Entries and the Post-Closing Trial Balance (j, l, m)
1-2 Weeks
Bank Accounts and Cash Funds (h, i, n, o)
1-2 Weeks
Employee Earnings and Deductions and Employer Taxes,
Payments (h, p)
8.
1-2 Weeks
Special Journals, including the Purchases Journal, Sales
Journal, Cash Receipts and Cash Payments Journals (h, I)
1-3 Weeks
Financial Statements and Closing Entries for a Merchandising
Company (h, j, k, l)
0-3 Weeks
Special Topics of Interest (a – p)
Text and Materials, References Materials, Auxiliary Materials and Content
Appropriate text(s) and materials will be chosen at the time the course is to be offered from those
currently available in the field. Examples include
Texts:
McQuaig, D.J. and Bille, P.A. 2001. College Accounting. Houghton, Mifflin Co., New York
Materials:
Text(s) may be supplemented with:
Accompanying Practice Set if available
Articles and/or handouts prepared by the instructor
Magazine or newspaper articles
Other:
Appropriate films, videos or Internet sites
Television programs
Guest Speakers
9.
Recommended Course Requirements and Evaluation
Specific course requirements are at the discretion of the instructor at the time the course is being
offered. Suggested requirements might include, but are not limited to:
30 - 50%
0 - 20%
30 - 50%
10 - 30%
0 - 20%
0 - 20%
0 - 20%
10.
Written or oral examinations
In-class exercises
Homework assignments
Accounting practice set(s)
Quizzes
Projects or research (written reports and/or oral class presentations)
Attendance and/or class participation
Methods of Instruction
Instructional methods vary considerable with instructors and specific instructional methods will be
at the discretion of the instructor teaching the course. Suggested techniques might include, but
are not limited to
Lecture, problem solving, and class exercises or readings
Class discussions, student class presentations, or guest lectures
Audio, visual or presentations involving the Internet
Group or individual projects
Other contemporary learning techniques (e.g., Service Learning, Co-op, School-to-Work,
self-paced, etc.)
Assessment of Program Learning Outcomes - Accounting 2004
Standard 1: Written Communication
ACC
124
1
ACC
125
1
ACC
132
2
ACC
134
2
ACC
137
2
ACC
150
2
ACC
155
1
ACC
201
1
ACC
202
2
1.1 Use writing to discover
and articulate ideas
1.2 Identify and analyze the
1
1
1
1
2
1
1
2
2
audience and purpose for
any intended communication
1.3 Choose language, style
2
2
2
2
2
1
2
2
2
and organization appropriate
to particular purposes and
audiences
1.4 Gather information and
3
3
3
3
3
2
1
3
3
document sources
appropriately
1.5 Express a main idea as
1
1
1
1
1
1
1
1
3
a thesis, hypothesis, and
other appropriate content
1.6 Develop a main idea
1
1
1
1
1
1
1
1
3
clearly and concisely with
appropriate content
1.7 Demonstrate mastery of
1
1
1
1
1
1
1
1
2
the conventions of writing,
including grammar, spelling,
and mechanics
1.8 Demonstrate proficiency
1
1
1
1
1
1
1
1
2
in revision and editing
1.9 Develop a personal
0
0
0
0
0
0
0
0
0
voice in written
communication
Key:
3. Major Emphasis:: The student is actively involved (uses, reinforces, applies, and evaluated) in the learner outcomes. The
learner outcome is the focus of the class.
2.
Moderate Emphasis: The student uses, reinforces, applies and is evaluated by this learner outcome, but it is not the focus
of the class
1.
Minor Emphasis: The student is provided an opportunity to use, reinforce, and apply this learner outcome but does not get
evaluated on this learner outcome
0. No Emphasis: The student does not address this learner outcome
Assessment of Program Learning Outcomes - Accounting 2004
Standard 2: Quantitative Reasoning
ACC
124
3
ACC
125
3
ACC
132
3
ACC
134
3
ACC
137
3
ACC
150
3
ACC
155
3
ACC
201
3
ACC
202
3
2.1 Apply numeric, graphic
and symbolic skills and other
forms of quantitative
reasoning, accurately and
appropriately
2.2 Demonstrate mastery of
2
2
2
2
2
2
3
2
2
mathematical concepts,
skills, and applications,
using technology when
appropriate
2.3 Communicate clearly
2
2
2
2
2
2
2
2
2
and concisely the methods
and results of quantitative
problem solving
2.4 Formulate and test
0
0
0
0
0
0
2
0
0
hypotheses using numerical
experimentation
2.5 Define quantitative
3
3
3
3
3
3
3
3
3
issues and problems, gather
relevant information, analyze
that information, and present
results
2.6 Assess the validity of
1
1
1
1
1
1
1
1
1
statistical conclusions
Key:
3. Major Emphasis:: The student is actively involved (uses, reinforces, applies, and evaluated) in the learner outcomes. The
learner outcome is the focus of the class.
2.
Moderate Emphasis: The student uses, reinforces, applies and is evaluated by this learner outcome, but it is not the focus
of the class
1. Minor Emphasis: The student is provided an opportunity to use, reinforce, and apply this learner outcome but does not get
evaluated on this learner outcome
0. No Emphasis: The student does not address this learner outcome
Assessment of Program Learning Outcomes - Accounting 2004
Standard 3: Information Retrieval and Technology
3.1 Use print and electronic
information technology
ethically and responsibly
3.2 Demonstrate knowledge
of basic vocabulary,
concepts, and operations of
information technology and
retrieval
3.3 Recognize, identify, and
define an information need
ACC
124
2
ACC
125
2
ACC
132
2
ACC
134
2
ACC
137
2
ACC
150
2
ACC
155
2
ACC
201
2
ACC
202
2
1
1
1
1
1
2
2
1
2
1
1
1
1
1
2
2
1
1
3.4 Access and retrieve
2
2
2
2
2
1
1
3
2
information through print and
electronic media, evaluating
the accuracy and
authenticity of that
information
3.5 Create, manage,
1
1
1
1
1
1
1
1
1
organize, and communicate
information through
electronic media
3.6 Recognize changing
0
0
0
0
0
0
0
0
0
technologies and make
informed choices about their
appropriateness and use
Key:
3. Major Emphasis:: The student is actively involved (uses, reinforces, applies, and evaluated) in the learner outcomes. The
learner outcome is the focus of the class.
2. Moderate Emphasis: The student uses, reinforces, applies and is evaluated by this learner outcome, but it is not the focus of
the class
1. Minor Emphasis: The student is provided an opportunity to use, reinforce, and apply this learner outcome but does not get
evaluated on this learner outcome
0. No Emphasis: The student does not address this learner outcome
Assessment of Program Learning Outcomes - Accounting 2004
Standard 4: Oral Communication
ACC
124
1
ACC
125
1
ACC
132
1
ACC
134
1
ACC
137
1
ACC
150
0
ACC
155
0
ACC
201
1
ACC
202
1
4.1 Identify and analyze the
audience and purpose of
any intended
communication.
4.2 Gather, evaluate, select,
1
1
1
1
1
0
0
1
1
and organize information for
the communication.
4.3 Use language,
1
1
1
1
1
1
1
1
1
techniques, and strategies
appropriate to the audience
and occasion.
4.4 Speak clearly and
1
1
1
1
1
0
0
1
1
confidently, using the voice,
volume, tone, and
articulation appropriate to
the audience and occasion
4.5 Summarize, analyze,
1
1
1
1
1
0
0
1
1
and evaluate oral
communications and ask
coherent questions as
needed.
4.6 Use competent oral
0
0
0
0
0
0
0
0
0
expression to initiate and
sustain discussion.
Key:
3. Major Emphasis:: The student is actively involved (uses, reinforces, applies, and evaluated) in the learner outcomes. The
learner outcome is the focus of the class.
2. Moderate Emphasis: The student uses, reinforces, applies and is evaluated by this learner outcome, but it is not the focus of
the class
1. Minor Emphasis: The student is provided an opportunity to use, reinforce, and apply this learner outcome but does not get
evaluated on this learner outcome
0. No Emphasis: The student does not address this learner outcome
Assessment of Program Learning Outcomes - Accounting 2004
Standard 5: Critical Thinking
ACC
124
2
ACC
125
2
ACC
132
2
ACC
134
2
ACC
137
2
ACC
150
2
ACC
155
2
ACC
201
2
ACC
202
2
5.1 Identify and state
problems, issues,
arguments, and questions
contained in a body of
information.
5.2 Identify and analyze
1
1
1
1
1
1
1
1
2
assumptions and underlying
points of view relating to an
issue or problem.
5.3 Formulate research
0
0
0
0
0
0
0
0
1
questions that require
descriptive and explanatory
analyses.
5.4 Recognize and
1
1
1
1
1
1
1
1
2
understand multiple modes
of inquiry, including
investigative methods based
on observation and analysis.
5.5 Evaluate a problem,
3
3
3
3
3
3
3
3
3
distinguishing between
relevant and irrelevant facts,
opinions, assumptions,
issues, values, and biases
through the use of
appropriate evidence.
5.6 Apply problem-solving
2
2
2
2
2
2
2
2
2
techniques and skills,
including the rules of logic
and logical sequence.
Key:
3. Major Emphasis:: The student is actively involved (uses, reinforces, applies, and evaluated) in the learner outcomes. The
learner outcome is the focus of the class.
2. Moderate Emphasis: The student uses, reinforces, applies and is evaluated by this learner outcome, but it is not the focus of
the class
1. Minor Emphasis: The student is provided an opportunity to use, reinforce, and apply this learner outcome but does not get
evaluated on this learner outcome
0. No Emphasis: The student does not address this learner outcome