Accounting Central College Business, Financial & Legal Studies Division Chair: Earl Smith Associate Departmental Chair: Dr. Mesfin Genanaw ACNT 1303 - Introduction to Accounting CRN 83790– 10 Week Summer 2011 Distance Education On-Line Orientation: Complete your on-line orientation. http://de.hccs.edu/portal/site/de/ If you are having problems assessing the class, contact a distance education support technician at 713-718-5275. You also may visit the HCC Support Center at http://de.hccs.edu/portal/site/de/ Instructor Information: Instructor: Office Location: Office Hours: Phone #: Email: Charles Lewis Central Campus By appointment 713-823-9667 School-charles.lewis@hccs.edu Class-Use Blackboard mail Office Location and Hours: Please feel free to contact me through Blackboard “Mail” or by telephone at 713-8239667. The Accounting Department is located in the BSCC Building Room 206 Syllabus Changes: The syllabus is subject to change. When changes occur the instructor will advise the students through email and as an announcement on blackboard. It will be the students responsibility check blackboard for emails and announcements Course Description: ACNT 1303 is a study of analyzing, classifying, and recording business transactions in a manual and computerized environment. Emphasis is on understanding the complete accounting cycle and preparing financial statements, bank reconciliations, and payroll. Coverage also includes the fundamental principles of double-entry bookkeeping, financial statements, trial balances, worksheets, special journals, adjusting entries and closing entries. 1 Prerequisites: None Course Goal: Have students begin reading, critical thinking, and writing about accounting concepts and principles, and, acquire ability to use manual and computerized accounting in acquiring, recording, analyzing, communicating, and evaluating accounting information. Course Student Learning Outcomes (SLO): Students will: 1. Demonstrate understanding of the complete accounting cycle 2. Prepare financial statements, 3. Prepare bank reconciliations 4. Prepare payroll. Learning objectives: The student will be able to: 1. Define and identify elements of the fundamental accounting equation, and record business transactions in (a) general journal and (b) special journals. 2. Post entries from general journal to general ledger accounts. 3. Prepare a trial balance, and recognize the effect of transpositions and slides on account balances. 4. Complete work sheet for (a) service, and (b) merchandising firm, including adjustments. 5. Prepare an income statement, a statement of owner’s equity, and a balance sheet for a (a) service business, and (b) classified statements for a merchandising firm. 6. Prepare a post-closing trial balance. 7. Reconcile a bank statement, and record the required journal entries from the bank reconciliation. 8. Record journal entries to establish and reimburse a Petty Cash Fund including Cash Short and Over. 9. Complete a payroll register and journalize the entry to (a) record, and (b) pay, payroll. 10. Calculate the amount of payroll tax expense and journalize the entry to (a) record, and (b) pay, payroll taxes. 11. Prepare a schedule of accounts (a) receivable, and (b) payable. 12. Compute working capital and current ratio. SCANS or Core Curriculum Statement: The Secretary’s Commission on Achieving Necessary Skills (SCANS) from the U.S. Department of Labor was asked to examine the demands of the workplace and whether our students are capable of meeting those demands. Specifically, the Commission was directed to advise the Secretary on the level of skills required to enter employment. In carrying out this charge, the Commission was asked to do the following: Define the skills needed for employment 2 Propose acceptable levels of proficiency Suggest effective ways to assess proficiency, and Develop a dissemination strategy for the nation’s schools, businesses, and homes SCANS research verifies that what we call workplace know-how defines effective job performance today. This know-how has two elements: competencies and a foundation. This report identifies five competencies and a three-part foundation of skills and personal qualities that lie at the heart of job performance. These eight requirements are essential preparation for all students, whether they go directly to work or plan further education. Thus, the competencies and the foundation should be taught and understood in an integrated fashion that reflects the workplace contexts in which they are applied. Workplace Competencies Foundation Skills Resources: allocating time, money, materials, space, staff Basic Skills: reading, writing, arithmetic and mathematics, speaking and listening Interpersonal Skills: working on teams, teaching others, serving customers, leading, negotiating, and working well with people from culturally diverse backgrounds Thinking Skills: thinking creatively, making decisions, solving problems, seeing things in the minds eye, knowing how to learn, and reasoning Information: acquiring and evaluating data, organizing and maintaining files, interpreting and communicating, and using computers to process information Personal Qualities: individual responsibility, self-esteem, sociability, selfmanagement and integrity Systems: understanding social, organizational, and technological systems, monitoring and correcting performances, and designing or improving systems Technology: selecting equipment and tools, applying technology to specific tasks, and maintaining and troubleshooting technologies SCANS workplace competencies and foundation skills have been integrated into Introduction to Accounting, and are exhibited in the SCANS schedule. Assignment Schedule: An assignment schedule is below. This schedule will be followed throughout this course. Any modifications to this schedule will be announced in class. 3 ACNT 1303 HCC-Summer Semester 2011 Distance Education See Assessments for Chapter Quiz Schedule Due Dates See Assignments for all other work/excel Problem Due Dates Below is suggested start dates DATE DAY CH TOPIC 6/06 M Classes Begin 1 Assets, Liabilities, Owner's Equity, Revenue and Expense accounts 6/06 M 2 T accounts, debits and credits, Trial Balance, and Financial Statements 6/07 Tu Last day to add/drop/swap 6/13 M 3 The General Journal and the General Ledger 6/13 M 4 Adjusting Entries and the Work Sheet 6/20 M 5 Closing entries and the Post Closing Trial Balance 6/20 M 6 Bank Accounts and Cash Funds 6/27 M 7 Employee Earnings and Deductions 6/27 M 8 Employer Taxes, Payments and Reports 7/04 M 9 Sales and Purchases 7/11 M 10 Cash Receipts and Cash Payments 7/18 M 11 Work Sheet and Adjusting Entries 7/25 M 12 Financial Statements, Closing Entries and Reversing Entries 7/26 Tu Last Day to withdraw with a “W” 4:30 pm 8/07 Sun Official Instruction Ends 8/01 M Start Your Final 8/08 M Last Day to Finish Final Exam 8/20 F Grades available on line Instructional Methods: ACNT 1303 is a required, elective, or prerequisite course depending upon program or accounting courses. As an instructor, I want my students to be successful. I feel that it is my responsibility to provide you with knowledge concerning the field of accounting, modeling good teaching strategies, and organizing and monitoring the class experience that allows you to connect the information that you learn in this course to the real world of accounting. As a student wanting to learn about the field of accounting, it is your responsibility to read the textbook, submit assignments on the due dates, study for the exams, participate 4 in classroom activities, attend class, and enjoy yourself while experiencing the real world of accounting. As I believe that engaging the students in the learning is essential for teaching to be effective, you will spend the majority of class time involved in collaborative activities. You will be involved in discussions with your classmates and your instructor. As you will want to contribute to these discussions, you will need to come to class prepared to discuss, analyze and evaluate information from your text. Evaluation and Requirements: Students are expected to read all assigned chapters, complete and submit all assignments and quizzes on or before the due dates. Accounting is best learned through doing. Therefore, there are always homework assignments to do. This will require a considerable commitment of time and effort from you. Typically, the successful student in college can count on 3 hours of independent study for every hour in the classroom. Your final grade for this course will be based on how well you do in meeting the evaluation requirements listed on your assignment schedule and applying the grading scale which is listed below. On-Line Assessments: The questions for each student for the quizzes and the final are generated randomly by the computer. Each student will receive a different exam. On-Line Assessments-Chapter quizzes: Assessments is located under Course Tools. The assessment tab is where you will locate your required chapter assessments/quizzes. The assessments schedule will give you the beginning and ending dates available for each chapter assessment If the chapter is highlighted in blue that indicates the chapter is open and available. The on-line assessments are generated in such as manner as that the assessments for each student are different as the questions are generated randomly by the computer. Each student will receive a different assessment There will be a total of 12 (one for each chapter) on-line assessments (BlackboardAssessments). The assessments must be completed by the due date stated in the assessment schedule (no extensions). The assessments are open book and you can go in and out of the assessment as many times as you desire. (Example: Chapter 1 assessment is open June 6, 2011 at 12:00 am until June 20, 2011 at 6:00 am and you can go in and out of that assessment as many times as you desire but you must complete the assessment 5 by June 20, 2011 at 6:00 am) Once you enter the assessment the questions will not change so you can print the assessment off and take it with you to work on. The assessment is labeled as having two attempts which means that if after your first completed submission you wish to retake the assessment again you may do so. This means you will receive a completely different assessment for the second attempt and that the second attempt must also be completed by the assigned due date. The second attempt score will be your final score. If you start a second attempt but fail to complete by the due date, the first attempt grade will then be your final grade. Once you hit the submit button the assessment is automatically graded and that is considered your one attempt. When working on your assessment always save your answers but never hit the submit button until you are completely finished and ready for it to be graded On-Line Assessment-Final The final exam is comprehensive and is also taken through Blackboard-Assessments. The final is also open book and works in the same manner as chapter assessments. Project: There will be only one project for the semester-Information provided later Evaluation Requirements: Chapter quizzes-assessments (12) 100 points each Final examination-comprehensive Project Total 1200 points 200 points 100 points 1500 points Grading Scale: 90 - 100% 80 - 89% 70 - 79% 60 - 69% BELOW 60% = = = = = A B C D F (1350 - 1500 points) (1200 - 1349 points) (1050 - 1199 points) (900 - 1049 points) ( 0 to 899 points) Textbook-Instructional Materials: Text: College Accounting, Chapters 1-12, 10th Edition By: D.J. McQuaig, P.A. Bille, T.L. Nobles, JMcQuaig Courshon Publisher: South-Western Cengage Learning ISBN-10: 1439038783. ISBN-13: 9781439038789 6 Student can also access the following web site for book purchase options: http://www.cengagebrain.com/shop/micro/hccacct1303 HCC Policy Statements: Link: http://www.hccs.edu/hccs/faculty-staff/policies-procedures-hcc Americans with Disabilities Act (ADA)-Students with Disabilities: Any student with a documented disability (e.g. physical, learning, psychiatric, vision, hearing, etc.) who needs to arrange reasonable accommodations must contact the Disability Support Services Office at the beginning of each semester. Professors are authorized to provide only the accommodations requested by the Disability Support Services Office. DE students who are requesting special testing accommodations may choose the most convenient DSS office for assistance each semester: District ADA Coordinator – Donna Price – 713.718.5165 Central ADA Counselors – Jaime Torres & Martha Scribner – 713.718.6164 Northeast ADA Counselor- Kim Ingram – 713.718.8420 Northwest ADA Counselor – Mahnaz Kolaini – 713.718.5422 Southeast ADA Counselor – Jette Lott - 713.718.7218 Southwest ADA Counselor – Dr. Becky Hauri – 713.718.7910 Coleman ADA Counselor – Dr. Raj Gupta – 713.718.7631 After student accommodation letters have been approved by the DSS office and submitted to DE Counseling for processing, students will receive an email confirmation informing them of the Instructional Support Specialist (ISS) assigned to their professor. Academic Honesty: Students are responsible for conducting themselves with honor and integrity in fulfilling course requirements. Penalties and/or disciplinary proceedings may be initiated against a student accused of scholastic dishonesty. “Scholarly dishonesty” includes, but is not limited to, cheating on a test, plagiarism, and collusion. Anyone caught cheating will be given an F on that assignment and possibly an F in the course. A report on the incident will also be submitted to all appropriate school officials. A student who is academically dishonest is, by definition, not showing that the coursework has been learned, and that student is claiming an advantage not available to other students. The instructor is responsible for measuring each student's individual achievements and also for ensuring that all students compete on a level playing field. Thus, in our system, the instructor has teaching, grading, and enforcement roles. You are expected to be familiar with the University's Policy on Academic Honesty, found in the catalog. What that means is: If you are charged with an offense, pleading ignorance of the rules will not help you. Students are responsible for conducting themselves with honor 7 and integrity in fulfilling course requirements. Penalties and/or disciplinary proceedings may be initiated by College System officials against a student accused of scholastic dishonesty. “Scholastic dishonesty”: includes, but is not limited to, cheating on a test, plagiarism, and collusion. Cheating on a test includes: Copying from another students’ test paper; Using materials not authorized by the person giving the test; Collaborating with another student during a test without authorization; Knowingly using, buying, selling, stealing, transporting, or soliciting in whole or part the contents of a test that has not been administered; Bribing another person to obtain a test that is to be administered. Plagiarism means the appropriation of another’s work and the unacknowledged incorporation of that work in one’s own written work offered for credit. Collusion mean the unauthorized collaboration with another person in preparing written work offered for credit. Possible punishments for academic dishonesty may include a grade of 0 or F in the particular assignment, failure in the course, and/or recommendation for probation or dismissal from the College System. (See the Student Handbook) Attendance: As stated in the HCC Catalog, all students are expected to attend classes regularly. Students in DE courses must log into their Blackboard class or they will be counted as absent. Just like an on-campus class, your regular participation is required. Although it is the responsibility of the student to withdraw officially from a course, the professor also has the authority to block a student from accessing Blackboard, and/or to withdraw a student for excessive absences or failure to participate regularly. DE students who do not log into their Blackboard class before the Official Day of Record will be automatically dropped for non-attendance. Completing the DE online orientation does not count as attendance. Students are expected to log into the class at least twice a week to check for email and discussion board postings. Checking in everyday would be advisable. Any modifications to any schedule will be posted in an “Announcement”, email or a revision in the syllabus. Drops and Withdrawals: HCC Course Withdrawal Policy (updated 7/26/2010) Beginning Fall 2007, the State of Texas imposes penalties on students who withdraw/drop courses excessively. Students are limited to no more than SIX total course withdrawals throughout their educational career at a Texas public college or university. Students are encouraged to review the HCC 6 Drop Policy. To help you avoid having to withdraw from any class, contact your DE professor regarding your academic performance. You may also want to contact your DE counselor 8 to learn about helpful HCC resources (e.g. online tutoring, child care, financial aid, job placement, etc.). HOW TO DROP If a student decides to withdraw from a class upon careful review of other options, the student can withdraw online prior to the deadline through their HCC Student Center. HCC and/or professors may withdraw students for excessive absences without notification (see Class Attendance below). Students should check HCC’s Academic Calendar by Term for withdrawal dates and deadlines. Classes of other duration (flex-entry, 8-weeks, etc.) may have different final withdrawal deadlines. Please contact the HCC Registrar’s Office at 713.718.8500 to determine mini-term class withdrawal deadlines Before you withdraw from your course; please take the time to meet with the instructor or counselor to discuss why you feel it is necessary to do so. The instructor or counselor may be able to provide you with suggestions that would enable you to complete the course. You must withdraw PRIOR to the withdrawal deadline to receive a “W” on your transcript. If you do not withdraw before the deadline, you will receive the grade that you have earned to date. Zeros averaged in for required assignments/tests not submitted will lower your semester average significantly, most likely resulting in a failing grade (“F”). The final withdrawal deadline for Summer 10 week classes is July 26, 2011 at 4:30pm. (Revised) Classes of other duration (mini-term, flex-entry, 8-weeks, etc.) may have different final withdrawal deadlines. Please visit the online registration calendars or contact the HCC Registrar’s Office to determine class withdrawal deadlines. International Students: Receiving a W in a course may affect the status of your student visa. Once a W is given for the course, it will not be changed to an F because of visa considerations. Early Alert: HCC has instituted an Early Alert process by which your professor may “alert” you and DE counselors that you might fail a class because of excessive absences and/or poor academic performance. A counselor will then reach out to you to discuss your progress and offer any relevant resources. This initiative is designed to provide students with support services and resources to assist them in successfully completing their course. Repeat Course Fee The State of Texas encourages students to complete college without having to repeat failed classes. To increase student success, students who repeat the same course more 9 than twice, are required to pay extra tuition. The purpose of this extra tuition fee is to encourage students to pass their courses and to graduate. Effective fall 2006, HCC will charge a higher tuition rate to students registering the third or subsequent time for a course. If you are considering course withdrawal because you are not earning passing grades, confer with your instructor/counselor as early as possible about your study habits, reading and writing homework, test taking skills, attendance, course participation, and opportunities for tutoring or other assistance that might be available. Incompletes: It is my policy not to give a grade of “I” (incomplete). HCC Student Services Information Link: http://www.hccs.edu/hcc/System%20Home/Departments/Student_Handbook/student_polic ies.pdf DISTANCE EDUCATION: The Distance Education Student Handbook contains policies and procedures unique to the DE student. Students should have reviewed the handbook as part of the mandatory orientation. It is the student's responsibility to be familiar with the handbook's contents. The handbook contains valuable information, answers, and resources, such as DE contacts, policies and procedures (how to drop, attendance requirements, etc.), student services (ADA, financial aid, degree planning, etc.), course information, testing procedures, technical support, and academic calendars. Refer to the DE Student Handbook by visiting this link: http://de.hccs.edu/de/de-student-handbook DISTANCE EDUCATION ADVISING AND COUNSELING SERVICES: Much DE student information can be found on the DE Student Services website: de.hccs.edu. Advising or counseling can be accomplished through our online request form AskDECounseling. Counselors and Student Services Associates (SSA) can assist students with admissions, registration, entrance testing requirements, degree planning, transfer issues, and career counseling. In-person, confidential sessions, can also be scheduled to provide brief counseling and community referrals to address personal concerns impacting academic success. ASKDECOUNSELING FORM AskDECounseling is a student services online help form. This is the best and quickest way for students to get accurate assistance with DE registration, enrollment, advising, and counseling. The online help form is simple to fill out, convenient, and readily accessible through the internet. Students do not have to travel to campus sites, leave work, or wait in an office or lobby to receive assistance. Upon submission, student requests are answered in the order they are received. 10 INTERNATIONAL STUDENTS Please contact the International Student Office at 713-718-8520 if you have additional questions about your visa status. Distance Education Online Behavior: As your instructor and as a student in this class, it is our shared responsibility to develop and maintain a positive learning environment for everyone. Your instructor takes this responsibility very seriously and will inform members of the class if their behavior makes it difficult for him/her to carry out this task. As a fellow learner, you are asked to respect the learning needs of your classmates and assist your instructor to achieve this critical goal. Virtual Classroom Conduct: As with on-campus classes, all students in HCC Distance Education courses are required to follow all HCC Policies & Procedures, the Student Code of Conduct, the Student Handbook, and relevant sections of the Texas Education Code when interacting and communicating in a virtual classroom with faculty and fellow students. Students who violate these policies and guidelines will be subject to disciplinary action that could include denial of access to course-related email, discussion groups, and chat rooms or being removed from the class. Blackboard Student User ID: Your Blackboard login user ID will be your HCC User ID (sometimes referred to as the “W” number). All HCC students have a unique User ID. If you do not know your User ID you can look it up by visiting the HCC home page: o From www.hccs.edu, click on “Login Help” under the “Student System Sign In” field o Then click on “Retrieve User ID” and follow the instructions. Or use the direct link: https://hccsaweb.hccs.edu:8080/psp/csprd/?cmd=login&languageCd=ENG The default student password is “distance.” Students will then be prompted to change their password after their first login. Please visit DE Technical Support website if you need additional assistance with your log in. Instructor Requirements: As your Instructor, it is my responsibility to: Provide the grading scale and detailed grading formula explaining how student grades are to be derived Facilitate an effective learning environment through class activities, discussions, and lectures Description of any special projects or assignments Inform students of policies such as attendance, withdrawal, tardiness and make up Provide the course outline and class calendar which will include a description of any special projects or assignments 11 Arrange to meet with individual students before and after class as required To be successful in this class, it is the student’s responsibility to: Attend class and participate in class discussions and activities Read and comprehend the textbook Complete the required assignments and exams Ask for help when there is a question or problem Keep copies of homework, projects, instructions, emails including this syllabus On-line Tutoring: HCC provides free online tutoring in writing, math, science, and other subjects. Look for Ask Online on your Blackboard log-in page. This directs students to the HCC AskOnline Tutoring site: http://hccs.askonline.net/. Use your student ID or HCC e-mail address to create an account. Instructions, including a 5-minute video, are provided to make you familiar with the capabilities of this service. All accounting students are encouraged to use HCC’s online tutoring system for help with any accounting class. Questions submitted to the ASK queue will be answered within 24 hours – and usually much before that. Tutors are on duty 7 days a week, 365 days a year. Online tutors will not do homework for you, but they will guide you in the right direction. To maximize the effectiveness of the system, be specific when you ask questions, and let the tutor know what class you are taking. SOCIAL NETWORKING: DE students are encouraged to become a fan of DE on Facebook http://www.facebook.com/HCCDistanceEd and to follow DE on Twitter: http://twitter.com/HCCDistanceEd These social networking sites help DE foster student engagement and provide a sense of community for the online learner. Students will also stay informed about important information and announcements. LIBRARY RESOURCES: As a DE student you have the same access to first-rate information resources that the HCC Libraries make available to all HCC students. A special website pulls together all the tools DE students will need to get their research rolling. Visit Library Resources specifically for Distance Education students. Library services are available throughout HCC. Through a daily library delivery service and a listing of all materials belonging to HCC libraries, books may be requested from and delivered to any campus library. HCC also has cooperative borrowing agreements with the University of Houston libraries and provides a copy of the Houston Public library catalog at each library. These arrangements provide students with access to over 4 million volumes. 12 Special services provided by the library system include photocopying facilities; specialized equipment for disabled students; group and personalized instruction in library use, including a self-instructional media program to orient students to the use of the HCCS libraries; a “term paper” workshop; and online bibliographic search services. . 13