Session 2014-1 Spring
Room Location: D-17
Tuesday: 6:00 – 10:00 pm
Date:1/13/14 - 3/9/14
Frank Kircher, CPA, fkircher@ben.edu
Office: 217.546.4446
Appt: Upon Request
PRE-ASSIGNMENT- See last page of syllabus for assignment
ACCT 111-70 - ACCOUNTING I
I.
Course Description
ACCT-111 (3). Accounting I. Principles of financial accounting; including the basic structure of
accounting, accounting systems, and controls, the preparation and use of financial statements, and
problems related to financial disclosures.
II.
Textbook and Materials
Accounting. Warren, Reeve, Fess, 24th Edition, 2012. ISBN 0-538-47500-5 Cengage
III.
Mission Statement
Benedictine University is dedicated to the education of undergraduate and graduate students from
diverse ethnic, racial and religious backgrounds. As an academic community committed to liberal
arts and professional education distinguished and guided by our Roman Catholic tradition
and Benedictine heritage, we prepare our students for a lifetime as active, informed and
responsible citizens and leaders in the world community.
IV.
Goals, Objectives, and Student Learning Outcomes
A. Goals
1. Evaluate the role of economics and business in the social environment of our
culture
2. Articulate how the functional areas of business interrelate within
organizations
3. Improve skills in communication, analytical thinking and appreciating the
human element in organizations; and
4. Develop specific skills applicable to the various aspects of the functional
areas of business.
B. Course Objectives
Upon completion of the course, students will be able to demonstrate their mastery
of the following:
1. To analyze business activities using accounting concepts and principles
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2.
3.
4.
5.
To record financial transactions utilizing accrual basis of accounting
To prepare and analyze financial statements
To prepare and interpret the statement of cash flows using the indirect format.
To calculate depreciation on plant assets using different methods.
V.
Teaching Methods/Delivery System
Class will consist of informal discussions and problem solving activities.
VI.
Course Requirements
Attendance Policy:
Class attendance is mandatory. This course is a highly accelerated course which
will meet only once a week for eight weeks. Therefore, students will need to take
a great deal of responsibility for their own learning outcomes. In the case of
illness or an emergency, please notify the instructor before the class meets. Class
attendance will directly impact your final grade!
This course is highly accelerated, and students will need to take a great deal of
responsibility for their own learning outcomes. Attendance is required in each
class meeting for the full period of time. Any absence must be due to
extraordinary circumstances and will require documentation for it to be
considered excused. Documentation must be provided immediately in order to
determine what, if any, accommodations are reasonable or possible. Class
attendance will directly impact your final grade, and each undocumented absence
will be considered unexcused and will result in a 20% reduction in the final grade
for the course.
Due to the accelerated nature of the course, should you experience a medical
condition which prevents you from attending any class(es), appropriate medical
documentation must be provided immediately so it may be determined what, if
any, accommodations are reasonable or possible.
Benedictine University at Springfield Student Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a
university. Benedictine University at Springfield pursues these missions in an
environment guided by our Roman Catholic tradition and our Benedictine heritage.
Integrity and honesty are therefore expected of all University students. Actions such as
cheating, plagiarism, collusion, fabrication, forgery, falsification, destruction, multiple
submission, solicitation, and misrepresentation are violations of these expectations and
constitute unacceptable behavior in the University community.
Student’s Responsibility
Though there is no formal honor code at Benedictine University at Springfield, students
are expected to exhibit academic honesty at all times. Violations against academic
honesty are always serious and may result in sanctions that could have profound longterm effects. The final responsibility for understanding the Academic Honesty Policy of
the institution, as well as the specific policies of individual courses normally found in
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syllabi, rests with students. If any doubt exists about what constitutes academic
dishonesty, students have the responsibility to talk to the faculty member. Students
should expect the members of their class to be academically honest. If students believe
one or more members of the class have been deceitful to gain academic advantage in the
class, students should feel comfortable to approach the faculty member of the course
without prejudice.
Violations of the Academic Honesty Policy will be reported to the Office of the Dean of
Academic Affairs. Along with a verbal warning, the following are consequences a
student may face for academic dishonesty:



VII.
a failing grade or “zero” for the assignment
dismissal from a failing grade for the course; or
dismissal from the institution
Means of Evaluation
Your grade will be determined by total points accumulated throughout the semester.
Points will be assigned as follows:
Exams (3)
Homework
Class Discussion & Attendance
Total Points Possible
Grades will be assigned as follows:
300
100
100
500
450 points – 500 points = A
400 points – 449 points = B
350 points – 399 points = C
300 points – 349 points = D
Less than 300 points = F
Exams:
Exams consist of two parts (1) take-home and (2) in-class. The take home exams
will consist of problems and written exercises. The in-class portion of the exams
usually consists of conceptual multiple choice and short answer questions. If a
student has an acceptable reason (illness or emergency) for missing class the night
an exam is handed out, the student is responsible for contacting the instructor and
making arrangements to pick up the exam.
Homework:
Homework assignments are due at the beginning of the class period. At times
students may be asked to present the solutions before the class.
If a student believes that an error has been made in reporting a grade, an appeal must be
made in writing to the instructor and must be initiated within 60 calendar days after the
end of the term for which the grade in question was reported. The appeal should contain
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specific information on why it is believed the grade reported is inaccurate. See the
Student Handbook for details.
Add/Drop Dates
Please refer to the current Academic Calendar for add/drop dates.
Incomplete Request
To qualify for an “I” grade, a minimum of 75% of the course work must be
completed with a passing grade and a student must submit a completed Request
for an Incomplete form to the Registrar’s Office. The form must be completed
by both student and instructor, but it is the student’s responsibility (not the
instructor’s) to initiate this process and obtain the necessary signatures.
Student Withdrawal Procedure
It is the student’s responsibility to officially withdraw from a course by
completing the appropriate form, with appropriate signatures, and returning the
completed form to the Advising Office. Please refer to the Student Handbook for
important financial information related to withdrawals.
VIII. Topical Course Outline
See attached schedule
IX.
AMERICANS WITH DISABILITIES ACT (ADA)
Benedictine University at Springfield provides individuals with disabilities reasonable
accommodations to participate in educational programs, activities, and services. Students
with disabilities requiring accommodations to participate in campus-sponsored programs,
activities, and services, or to meet course requirements, should contact Resource Center
Director as early as possible: springaccess@ben.edu or (217) 525-1420, ext. 3233.
X.
ASSESSMENT
Goals, objectives, and learning outcomes that will be assessed in the class are stated in
this syllabus in Sections IV and VI. Instructor will use background knowledge probes,
one-minute papers, reflective essays and/or other Classroom Assessment Techniques as
deemed necessary in order to provide continuous improvement of instruction.
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Tentative Class Schedule
DATE
CHAPTER
First Class Period
1
TOPIC
ASSIGNMENT DUE
Introduction to Accounting and Business
Accounting as an informational
system
Users of accounting information
Accounting measurement
Forms of business organization
Accounting equation
Financial statements
Dates will be announced in
Class
2
Analyzing Transactions
Usefulness of an account
Characteristics of an account
Analyzing and summarizing
transactions in accounts
Illustration of analyzing and
summarizing transactions
Trial balance
Discovery and correction of errors
Financial analysis and interpretation
Review Chapters 1 and 2
3
The Matching Concept and the Adjusting Process
The matching concept
Nature of the adjusting process
Recording adjusting entries
Summary of adjustment process
Financial analysis and interpretation
Take Home Exam I Distributed
Take Home Exam I Due
In Class Exam
4
Completing the Accounting Cycle
Accounting cycle
Work sheet
Financial statements
Adjusting and closing entries
Fiscal year
Financial analysis and interpretation
5
DATE
CHAPTER
TOPIC
ASSIGNMENT DUE
Review Chapters 3 and 4
Take Home Exam II Distributed
Take Home Exam Due
In Class Exam
16
Statement of Cash Flows
Reporting Cash Flows
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Statement of Cash Flows – The Indirect Method
Retained Earnings
Common Stock
Bonds Payable
Building
Land
Preparing the Statement of Cash Flows
Financial Analysis and Interpretation
Review Chapters 16
Take Home Exam III Distributed
Take Home Exam III Due
In Class Exam
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FIRST ASSIGNMENT
A Memo to My Students:
Meeting once a week for eight weeks is not a very long time to accomplish much. To
apply accounting processes to financial information a person must learn the language of
accounting and then practice, practice, and practice. Success in this course comes by
doing. Any excess time resources that you thought that you had have suddenly been
impounded for the next eight weeks.
Being your instructor, I have been charged with the responsibility of teaching, mentoring,
and guiding you through this material. I am preparing to make the next eight weeks the
best learning experience that you have had to this date.
However, I need your cooperation. It is very important that you are prepared on the first
night of class. Therefore, I am charging you to:
1.
2.
3.
Read Chapters 1 and 2
Prepare solutions to Problem 1-1A page 37
Prepare solutions to Exercise 2-1 pages 81 - 82
If you have problems or questions regarding the material before the first class period, do
not hesitate to contact me any time.
Thank you for your cooperation.
Frank Kircher
Jr 12/20/13
Lsa 12-20-13
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