Maui Community College
Course Outline
1.
Alpha and Number
ACC 201
Course Title
Introduction to Financial Accounting
Credits
Three (3)
Date of Outline
March 16, 2007
2.
Course Description
Introduces accounting theory and methods
used to record and report financial information. Analyzes
methods of valuing assets, liabilities, and ownership of
an organization.
3.
Contact Hours/Type
Three (3) hours/Lecture
4.
Prerequisites
MATH 23 with grade C or better or placement at least
MATH 25; and ENG 22 with grade C or better or
placement at ENG 100; or consent.
Corequisites
Recommended Preparation
Approved by
5.
General Course Objectives
Date
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 and specific journals, ledgers, adjusting entries, worksheets, closing entries and a postclosing trial balance. Also includes merchandising accounting, internal cash control, payroll,
accounting for receivables and payables, plant assets and corporation accounting.
For detailed information on how ACC 201 focuses on the Maui Community College general
education standards, see the attached curricular grids.
ACC 201 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. journalize and post accounting transactions from general and specific journals to general and
subsidiary ledgers using generally accepted accounting principles (GAAP);
b. complete the accounting period by preparing a worksheet, financial statements, closing
entries and a post-closing trial balance;
c. journalize and post entries to accurately record the valuation of assets, including receivables,
plant and equipment;
d. compute the cost of goods sold, inventory valuation, and net income for a merchandising
business;
e. journalize entries to record employee and employer payroll expense, associated federal and
state taxes;
f. prepare bank reconciliation and record journal entries to establish and replenish a petty cash
fund;
g. journalize and post required transaction entries involving short-term and long-term liabilities;
h. journalize and post transactions relating to a corporation’s stockholder’s equity including the
issue and repurchase of stock, dividend payments, and changes in retained earnings;
7.
Recommended Course Content and Approximate Time Spent on Each Topic
Linked to # 6. Student Learning Outcomes
1-2 Weeks:
Accounting and the Business Environment (a,)
1-2 Weeks:
Recording Business Transactions (a)
1-2 Weeks:
Measuring Business Income: The Adjusting Process (a, b, c)
1-2 Weeks
Completing the Accounting Cycle (b)
1-2 Weeks
Merchandise Operations and the Accounting Cycle (a, c, d)
1-2 Weeks
Accounting for Merchandise Inventory (a, d)
1-2 Weeks
Accounting Information Systems: Special Journals, Control
Accounts, and Subsidiary Ledgers (a)
1-2 Weeks
Internal Control and Managing Cash (a, c, f)
1-2 Weeks
Accounts and Notes Receivable (a, c)
8.
1-2 Weeks
Accounting for Plant Assets, Intangible Assets, and Related
Expenses (a, c)
1-2 Weeks
Current Liabilities and Payroll Accounting (a, e)
1-2 Weeks
Corporate Organization, Paid-in Capital, and the Balance Sheet
(a, b, h)
1-2 Weeks
Retained Earnings, Treasury Stock, and the Income Statement
((a,b,h)
1-2 Weeks
Long-Term Liabilities (a, g)
0-3 Weeks
Special Topics of Interest (a-h)
Text and Materials, Reference Materials, Auxiliary Materials and Content
An 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:
Horngren, C.T. et. al. 2005. Accounting. Prentice Hall, Upper Saddle River, New Jersey
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
Other instructional aids
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:
40 – 80%
0 – 30%
0 – 30%
0 – 30%
0 – 30%
0 – 40%
0 – 20%
Examinations (written and/or oral)
In-class exercises
Homework
Practice set or Comprehensive Problems
Quizzes
Projects/research
Attendance and/or class participation
10.
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 or guest lectures
Audio, visual or presentations involving the Internet
Student class presentations
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