PRINCIPLES OF ACCOUNTING
ACG 2011
Instructor: Julio C. Borges
Phone: 305-237-1236
Messages: 305-237-1199
E-mail: jborges@mdc.edu
Office: North Campus, Bldg. 3
Suite 3242, # 53
Office hours: to be announced in class
“Whether you think you can do a thing or not, you are right”
Henry Ford
Dear students,
With this thought I would like to welcome you to our class. It is our philosophy that in
school as in life, attitude is as important as aptitude. If you are willing to come to our
class with a positive can do attitude, and you are willing to work hard, you will
succeed.
Best of luck, and please let us know how we can be of help in achieving your goals.
Have a great semester!!!
Sincerely,
J.Borges
Required Text:
Financial & Managerial Accounting, Warren, Reeve, & Fess, 8th Edition
Working Papers: Chapters 1- 13. A calculator, preferably one with math functions
is also required. (Study Guide is recommended)
***This class covers chapters 8-13 of the text. ACG 2001 is a pre-requisite of this
course
Additional Required Course Materials: Financial & Managerial Accounting
Working Papers,” 8th Edition, by the same authors. General Ledger Software, BIZTEST
Tutorial System, videos and internet access are available in the Business Resource
Center, Room 3132, Building 3000.
Attendance: Your attendance and participation are vital for the proper understanding and
discussion of the material. Class roll will be taken at each session. It is your responsibility
to make up work missed because of absences and to find out what material has been
assigned for the day. Attendance and class participation is worth 10 points toward the
final grade
Objectives: You will review accounting principles, and the basic accounting cycle,
covered in ACG 2001. In addition, you will obtain an understanding of inventories,
fixed and intangible assets, current liabilities, organization of corporations, income
taxes, and stockholders equity, investments in stocks, bonds payable and investment
in bonds, and others.
Lab: ACG 2011L (1 credit) is a co-requisite of this course. You must register at the
accounting lab to satisfy the lab assignment, Comprehensive Problem 3. The
problem is due upon the completion of Chapter 10, and is worth 10 points towards
your final grade. The lab is located in Room 3231, North Campus. You must attend
the lab a minimum of 15 hours this term. Tutors, text book solutions, videos, and
Power Point presentations are available in the lab. Please bring your student ID and
a paid schedule. The publisher provides the following website,
httpp://warren.swcollege.com, which is very helpful. Please check it out.
Homework: Please do your homework daily, do not fall behind. You must complete it
in order to understand the material covered in class. Each homework problem will be
collected on the day of the related exam and it is worth 1 point towards your final grade.
Completion of homework is also needed for class participation
Service learning project: A service learning project is required in this class. You will
demonstrate proof that you have used your accounting skills to assist in the betterment of
the community. Ie., help in preparation of income tax returns, bookkeeping assistance to
a non-profit organizations, and others.. We will discuss this project in class. A one-page
summary of the project will be submitted. This project is worth 10 points towards your
final grade. The service project is due one week before your final exam
Grading: Your final grade will determined as follows:
Exam 1- Chapters 8 & 9- 100 points
Exam 2- Chapters 10 & 11– 100 points
Exam 3-Chapters 12 & 13- 100 points
Exam 4- Final Exam (Chapters 8-13)100 points
At the end of the course the total of all possible earned points in the class will be
added. Your personal score will be divided by the total number of points to calculate
your grade.
Total points:
Attendance & Participation
Homework
Comprehensive Problem
Service Learning Project
Exams
Total
10 points
15 ”
10 ”
10 ”
400 ”
445 points
Biztests: You can earn up to an additional 6 points by completing and scoring 80% or
more in the Biztests for each topic. Biztests are found in the Business Resource Center
Please make prior arrangements for make-up tests. Also, a cumulative make-up test
(Chapters 8-13) will be given at the end of the term. That test will replace one of the
regular tests. If you miss more than one test, the others will be replaced with a “0”. You
may take the make-up test to replace any of the grades in the first three exams. The final
exam cannot be replaced.
Grading Scale:
90%-100%
80%-89%
70%-79%
60%-69%
A
B
C
D
Academic Dishonesty Procedure:
You are to work independently on tests. Please remember that talking or helping a fellow
student during a test is prohibited, and may result in the implementation of the Academic
Dishonesty Procedure. This Procedure reads as follows:
“If a student is caught cheating in a test or work related in class, the student will receive
one warning before the dishonesty procedure becomes effective. This procedure will be
one of the following: (1) a lower grade for the course; (2) a grade of F for the course; or,
(3) removal from the course.”
Ethical Behavior and Classroom Conduct: All cell phones and beepers must be
turned off during class time. Courteous, professional conduct is expected always.
Course Withdrawal: If you decide to withdraw from the class, please turn in a drop card
at the Registrar’s Office prior to the withdrawal date specified by the college for the
current term. If your name appears on the class roll after the withdrawal date, a grade
must be assigned by the instructor. An “Incomplete” will be given only for a serious,
documented, long-term illness or accident. Only if you become disabled after the
course drop date, and only if all work has been completed by the drop date, will you be
eligible for an incomplete grade. Incomplete grades are not to be used to gain extra time
to achieve a better grade or higher standards. The instructor has the ultimate decision to
grant an incomplete grade.
Assignment Sheet
Overview of course
Review of Chapters 1-7
Chapter 8-Inventories
Self Examination Questions
Exercises 4, 5, 7, 8, 13, 15, 18, 19
Problems 8-1A, 8-2A, 8-3A
Chapter 9-Fixed, Intangible Assets
Self Examination Questions
Exercises 1, 5, 6, 7, 10, 18, 20, 21
Problem 9-2A, 9-4A
Review Chapters 8 &9
Exam 1, Ch. 8 & 9
Chapter 10-Current Liabilities
Self Examination Questions
Exercises 2, 3, 4, 9, 11, 14, 16
Problem 10-2A, 10-3A
COMPREHENSIVE PROBLEM 3- DUE
Complete Chapter 10
Chapter 11- Corporations
Self Examination Questions
Exercises 2, 3, 5, 9, 11, 13, 14
Problems 11-1A, 3-A, 4-A
Review Chapter 11
Review Chapters 10 & 11
Exam 2, Chapters 10 & 11
Ch. 12-Corp. Income and Taxes, Stockholders’ Equity & Inv. In
Stocks
Self-Examination Questions
Exercises 1, 11
Problem 12-1A, 12-4A
Chapter 13-Bonds Payable & Inv. in Bonds
Self-Examination Questions
Exercises 11, 12, 13
Problems 13-2A, 13-4A
Review Chapters 12 & 13
Exam 3, Chapters 12 & 13
Review of Exam 3
SERVICE LEARNING PROJECT DUE
General review, Chapters 8-13
Final Exam & Make-up Exam