Lake Superior State University
SYLLABUS FOR AC 132
Fall 2004
1.
Course Identification:
Course Number/Title: Principles of Accounting I
Credits: 4
Section: 001
Meeting Times: Tues & Thurs 5:30-7:20 PM
Location: Sth 205
2.
Instructor Information:
Name:
Scott Suneson
Office Location:
South Hall 309
Office Phone:
906-635-2255
Office Hours:
Tues, Weds, Thurs 9-11 AM
Home Phone:
989-354-6617
Cell Phone:
989-464-0590
E-Mail Address:
ssunesonl@lssu.edu
Course Materials: Financial Accounting, Third Edition, John
Wild, Publisher Prentice Hall
3.
Course Description:
An introduction to the principles of accounting as applied to
proprietorships, and corporations. Areas of study include the
accounting cycle for service and merchandising enterprises,
internal control and items included in the asset and liability
section of the balance sheet.
Course Prerequisite: None
4.
Course Instructional Objectives:
Upon successful completion of this course, students should be
able to:
* Explain the meaning of Generally Accepted Accounting
Principles.
* Understand the steps required in the accounting cycle.
* Prepare and interpret a basic set of financial statements.
* Describe the entries to record current assets and
liabilities, and fixed assets and depreciation.
* Explain the accounting entries for various forms
of business ownership.
5.
Topics:
1. Balance Sheet and Statement of Cash Flows
2. Accounting and the Time Value of Money
3. Cash and Receivables
4. Valuation of Inventories
5. Acquisition and Disposition of Property, Plant, and Equipment
6. Depreciation, Impairments, and Depletion
7. Intangible Assets
8. Payroll accounting
6.
Core Competencies:
This course contributes to the development of the following core
competencies:
1.
How to learn effectively: by accessing learning and
information sources and identifying relevant data.
2.
How to solve problems: by identifying the problem,
selecting approaches to solve the problem, and generating
a solution.
3.
How to use mathematical concepts: by analyzing accounting
transactions and applying mathematical concepts to
summarize and present financial data.
4.
How to communicate effectively: through a variety of
modes with sufficient skill to achieve educational and
personal goals.
5.
How to interact with the world: (a) by understanding the
importance of self-respect for others in the workplace
and by demonstrating acceptable work standards.
(b) by examining the ethical responsibilities of
accountants in the workplace.
7.
Attendance:
Students are expected to attend all class sessions except for
illness or unforeseen emergencies. Attendance will be routinely
taken. If you are unable to attend, you should leave a message
for me at my e-mail address.
8.
Make-up Procedures:
Homework will be assigned for each chapter and is worth 20
points per chapter. Homework is due on the day indicated in
the attached activity schedule. Homework due when a student is
absent may be handed in during the next regularly scheduled
class.
Exams will not be cumulative. There will be NO makeups unless
arrangements have been made prior to the scheduled time.
Quizzes will be given on most chapters. Quizzes will be given
after the chapter is completed.
9.
Grading Procedure:
Homework
13 chapters @ 5 points
Exams
3 exams @ 100 points
Quizzes
9 quizzes @ 10 points
TOTAL
Note there are a total of 10 quizzes.
dropped.
65 points
300
90
455 points
Your lowest score will be
Your final grade is determined based on a percentage that is
calculated by dividing all the points you have earned during the
semester by the total available points.
Example: Your points
= 400
Total available = 455
400/455
= 88% (B+)
Grades will be assigned as follows:
100% to 93% = A
76% to 73%
92 to 90 = A72 to 70
89 to 87 = B+
69 to 67
86 to 83 = B
66 to 63
82 to 80 = B62 to 60
79 to 77 = C+
59 to 0
=
=
=
=
=
=
C
CD+
D
DE
10.
Ethics Policy:
A student is subject to dismissal or failure in this class
if involved in cheating and/or plagiarism, or for disruptive
conduct. Student behavior that is detrimental to an
environment conducive to learning or to the maintenance of a
reasonable level of order on the campus or in the classroom
shall be considered disruptive conduct. Students are
encouraged to work together on homework assignments,
however, dishonest scholarly practices will not be
tolerated. Dishonest scholarly practices include, but are
not necessarily limited to, taking, using, or copying
another’s work and submitting it as one’s own, intentionally
falsifying information or taking another’s ideas with the
intention of passing ideas in class as one’s own.
11.
Student Work:
All homework assignments and quizzes will be returned to the
student. Exams will not be returned to the student but will be
available for review. They will be disposed of after the first
two weeks of the following semester.
12.
Syllabus Revision/Instructor Prerogative:
This syllabus is subject to change at the discretion of the
instructor as events occur throughout the semester.
13.
Withdrawal:
Check the student Web site for specific withdrawal dates
14.
Activity Schedule:
DATE
Read BEFORE Class
TOPIC / HOMEWORK ASSIGNMENT
Aug. 31
Sept 2
Chapter 1
Continue 1
N/A
N/A
Sept 7
off Labor Day
Sept 14
Chapter 2
Sept 16
off Personal Day
Sept 21
Continue 2
Sept 23
Sept 28
Sept 30
Chapter 3
Continue 3
Continue 3
Ex2-1, 2-4, 2-5, 2-2a, 2-6a Quiz Ch 2
Oct 5
Chapter 4
Ex3-1, 3-4, 3-6, 3-12 Problem 3-1a, 3-4a
3-7a Quiz Ch 3
Oct 7
Continue 4
Oct12, 14
Exam I
Ex4-1, 4-3, 4-4, Problem 4-1a, 4-4a
Oct 19
Oct 21
Chapter 5
Continue 5
N/A
N/A
Oct 26
Chapter 6
Ex5-1, 5-3, 5-6, 5-14, Problem 5-1a, 5-6a
Quiz Ch 5
Oct 28
Chapter 7
Ex6-5, 6-6, 6-8, Problem 6-2a, 6-4a
Quiz Ch 6
Nov 2
Chapter 8
Ex7-3, 7-4, 7-6, 7-7, Problem 7-3a, 7-5a
Quiz Ch 7
Nov 4
Continue 8
Ex 1-12, Problem 1-2a, 1-3a, 1-4a, 1-7a
Quiz Chapter 1
Nov 9, 11
Exam II
Ex8-1, 8-3, 8-4, 8-6, 8-10, 8-14, Problem 82a, 8-5a
Nov 16
Nov 18
Chapter 9
Continue 9
N/A
N/A
Nov 23
Chapter 10
Ex9-1, 9-2, 9-5, 9-6, 9-8 Problem 9-1a, 96a, 9-2a
Quiz Ch 9
DATE
Read BEFORE Class
TOPIC / HOMEWORK ASSIGNMENT
Nov 25
off Thanksgiving
Nov 30
Chapter 11
Ex10-1, 10-2, 10-16, Problem 10-1a, 10-2a,
10-7a Quiz Ch 10
Dec 2
Chapter 12
Ex 11-3, 11-4, 11-7, 11-9, 11-14, 11-15,
Problem 11-1a, 11-4a Quiz Ch 11
Dec 7
Continue 12
N/A
Dec 9
Chapter 13
Ex12-2, 12-4, 12-5, 12-11 Problem 12-2a, 125a Quiz Ch 12
Dec 14
Final
Ex 13-2, 13-3, 13-5, 13-6 Problem 13-5a
State Standards met by this course
1.1.1demonstrate an understanding of the various steps of the accounting
cycle
1.1.2determine the value of assets, liabilities, and owner’s equity and
when and why they are used
1.1.3prepare, interpret, and analyze financial statements for service,
merchandising, and manufacturing businesses
1.1.4apply appropriate accounting principles to various forms of
ownership, payroll, income taxation, and managerial systems
1.1.5evaluate the performance of an organization using planning and
control principles
1.1.6describe the role of accounting in ethical business practices and
decision-making
3.6apply financial concepts to business decision making