Elementary Accounting I
ACC 201
Summer 2015
INSTRUCTOR:
Huan Qiu (Ken), MBA, CPA license candidate, [DBA student]
E‐mail: qiu@mc.edu
PREREQUISITES :
None
COURSE DESCRIPTION: A study of the language of business including theory and
techniques used in the preparation and interpretation of
financial statements in accordance with generally accepted
accounting principles.
COURSE RATIONALE:
This course provides information that is essential for the
business student’s overall understanding of recording
financial information and the standards of reporting the
information in the four basic financial statements.
TEXTBOOK:
Accounting (Chapter 1-9)
Authors: Warren, Reeve & Duchac
25th Edition
Note: You are required to have a textbook
METHOD OF INSTRUCTION: The method of instruction used in Accounting
Principles I shall be discussion of chapter material followed
by coverage of the thought processes used in solving the
assigned problems. The problems selected for assignment
are designed to prepare the students for real world
accounting issues.
GRADING SCALE:
A
360-400 (90% -100%)
B
320-359 (80% - 89%)
C
280-319 (70% - 79%)
D
240-279 (60% - 69%)
F
239 or less (Below 60%)
Note: Please refer to Grading Matrix for detailed grading information in Page 2.
ATTENDANCE POLICY: You are encouraged to attend every class because missing classes
usually results in less understanding of the course material covered. Attendance counts 20
points in the total grade. Each of the unexcused absence will results in deduction of 5 points
in your total grade. In accordance with the Mississippi College Catalog, missing 25% of the
classes results in AUTOMATIC FAILURE of the course, equivalent to 4 classes. If a student
misses more than the number of class periods specified in the university policy and believes that
there are reasonable explanations for the absences, he/she may appeal the absences to the Dean
of the School in which the course is being taught. Students may obtain a Student Absence
Appeal Form from the Dean’s office.
EXAMINATIONS: We shall have three 100 point tests and two 40-point projects
designed to thoroughly familiarize the student with the overall accounting process. Course
material is much more easily understood by reading the textbook, trying to work the problems,
attending class for additional explanations, and reviewing problems (reworking them again) soon
after they are worked in class.
GRADING MATRIX:
Activity
Percentage
classroom performance (Attendance, inclass discussion and Projects)
25%
Exams
75%
Total
100%
Note: 1. 20 points for Attendance and in-class discussion & 40 points for each of the two
projects, total 100 points for classroom performance
2. 100 points for each of the three examinations, including comprehensive final (assigned
homework and in-class quiz may results in bonus for exams), total 300 points for examinations
ACADEMIC HONESTY: Mississippi College students are expected to be scrupulously honest.
Accountants are expected to be scrupulously honest. Dishonesty, such as cheating or plagiarism,
use of programmable devices, sending and receiving text messages during tests, all will be
regarded as a serious offenses subject to severe penalty including, but not limited to, loss of
credit and possible dismissal. See the MC Tomahawk or University Policy 2.19 for specifics.
DISABILITY ACCOMODATIONS: In order for a student to receive disability
accommodations under Section 504 of the Americans with Disabilities Act, he or she must
contact Student Counseling Services (SCS). SCS will assist with information regarding the
appropriate policy and procedure for disability accommodations before each semester or upon
immediate recognition of the disability. Student Counseling Services is located in Alumni Hall
Room #4 or you may contact them by phone at 601-925-7790. The Program Coordinator, Holly
Reeves, can be reached via email at hreeves@mc.edu and the Director of Student Counseling
Services, Morgan Bryant at mbryant@mc.edu
Detailed Schedule for each class
Date
Agenda
Thursday, May 28,2015
Introduction
Cover Syllabus, Discuss homework, projects and testing and study skills
Monday, June 01, 2015
Chapter 1: Introduction to Accounting and Business
Lecture
Homework: Ex 1, 4-7, 11-12, 15-17, 21
Discussion of homework questions in Chapter 1
Thursday, June 04, 2015
Chapter 2: Analyzing Transactions
Lecture
Homework: Ex 1, 7, 13-15
Discussion of Exercise questions in Chapter 2
Monday, June 08, 2015
Chapter 3: The Adjusting Process
Lecture
Homework: Ex 1, 3, 6, 8-10, 12-13, 18
Project: Problem 3-5B (Due before class on Thursday, June 11, 2015)
Discussion of Homework questions in Chapter 3
Thursday, June 11, 2015
Chapter 4: Completing the Accounting Cycle
Lecture
Homework: Ex 1, 5-6, 8, 10, 12, 14, 16-17, 20
Project Due
Discussion of Homework questions in Chapter 4
Review Section for Test 1
Monday, June 15,2015
Thursday, June 18, 2015
Test 1
Review of Test 1
Monday, June 22, 2015
Chapter 5: Accounting Systems
Lecture
Homework: Ex 6-10, 14-18
Discussion of Homework questions in Chapter 5
Thursday, June 25, 2015
Chapter 6: Accounting for Merchandising Business
Lecture
Homework: Ex 1-4, 6-8, 14-15, 17-18, 23, 25, 27-28, 30
Project: 6-3A (Due before class on Monday, June 29, 2015)
Discussion of Homework questions in Chapter 6
Monday, June 29, 2015
Chapter 7: Inventories
Lecture
Homework: 3-4, 10-13, 17, 20, 22
Discussion of Homework questions in Chapter 7
Review Section for Test 2
Thursday, July 02, 2015
Monday, July 06, 2015
Test 2
Review of Test 2
Thursday, July 09, 2015
Chapter 8: Sarbanes-Oxley, Internal Control and Cash
Lecture
Homework: Ex 12-13, 16-21, 24
Discussion of Homework Questions in Chapter 8
Monday, July 13, 2015
Chapter 9: Receivables
Lecture
Homework: Ex 3-4, 9-10, 13, 19-20, 23
Discussion of Homework Questions in Chapter 9
Review for Final
Thursday, July 16, 2015
Final