ACCT 101--FUNDAMENTALS OF ACCOUNTING I
Tuesday & Thursday, 5:00-7:15 PM
SYLLABUS-FALL 2017
Professor Michael J. Farina, CPA, MBA, CGMA
 Office: SS-20. Office phone: (562) 860-2451, #2730.
 Office hours: Tuesday & Thursday, 3:00-4:00 PM; Wednesday, 11:00 AM-12:00PM on
line.
 Accounting lab: Tuesday and Thursday, 4:00-5:00 PM, Room BE108.
 Email: mfarina@cerritos.edu Website: http://www.cerritos.edu/mfarina
COURSE DESCRIPTION
This course introduces the student to financial accounting for corporations. Course material
includes preparation of financial statements; accounting for merchandising businesses; controls
over cash; accounting for inventories and property and equipment; and debt and equity financing
by corporations. The prerequisite to the course is completion of ACCT 100 or equivalent with a
grade of "C."
TEXT
Wild, Shaw, Chiappettta, “Financial and Managerial Accounting: Information for Decisions,”
Seventh Edition, McGraw-Hill. Accompanying work papers are optional. Students will need to
purchase an access code for Connect if buying a used text. Students will also need seven
scantron forms (form #886-E).
GRADING
Students may earn points as follows:
Two examinations @ 50 points each
Final examination
Eleven Chapter Interactive assignments @ 3 points each; lowest dropped
Six online homework assignments @ 6 points each; lowest dropped
Six pre-quizzes at three points each; lowest dropped
Six quizzes @ 15 points each; lowest dropped
Group work – Excel assignment
Total points possible
Grading will be as follows:
90% +
=
A
80-89%
=
B
67-79%
=
C
55-66%
=
D
Below 55%=
F
1
100
50
30
30
15
75
20
320
CHAPTER INTERACTIVE ASSIGNMENTS
The purpose of the chapter interactive assignments is to familiarize you with the chapter
material. The due dates are scheduled before we discuss the chapter material in class, so that you
gain more from the lecture. The due dates are as follows (all must be completed by the due date,
no later than 4:59PM).
CHAPTER #
2
Due Date
8/22
3
8/24
4
9/5
5
9/12
6
9/21
7
9/26
8
10/5
9
10/12
10
10/24
11
11/2
12
11/21
ON LINE HOMEWORK ASSIGNMENTS
Students will be required to complete certain problems from the text using Connect. These
problems must be completed by the due date no later than 11:59PM. These problems, and the
deadline dates, follow.
HW
#
1
ASSIGNMENT
Due Date
QS 1-2, QS 1-12, PR 2-1A, PR 2-2A, PR 3-2A, PR 3-5A, PR 3-7A
8/31
2
PR 4-2A, PR 4-3A, PR 4-4A, PR 5-3A, PR 5-10A(B)
9/14
3
PR 6-4A, PR 6-5A, PR 7-1A, PR 7-2A, PR 7-3A, PR 7-5A
10/3
4
PR 8-2A, PR 8-5A, PR 8-7A, PR 9-1A, PR 9-2A, P9-4A
10/17
5
PR 10-2A, PR 10-3A, PR 10-6A, Ex. 11-18, PR 11-1A, PR 11-2A
11/14
6
PR C-2A, Ex. 12-1, Ex. 12-14, PR 12-1A, PR 12-4A, P12-7A
12/5
PRE-QUIZZES
Six pre-quizzes containing various fill-in answers, calculations, and short essays will be
administered. These pre-quizzes may found on my website. The due dates are shown in the
Schedule of Activities on page 3 of this syllabus.
QUIZZES
Six quizzes containing 30 objective and short answer questions will be administered. Each quiz
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covers two or three chapters. Quizzes may not be made up unless arranged in advance.
GROUP WORK
Students will be assigned to small groups and complete a comprehensive review problem using
Excel. I will distribute guidelines for this project before work commences.
EXAMINATIONS
There are three examinations, including the final examination. The examinations consist
primarily of problems similar to those worked in class or in the homework assignments. The
exams are graded on a partial credit basis. Additionally, each examination contains one essay
question. Possible topics for the essay question will be discussed in class. The essays are graded
primarily for content; however, grammar, punctuation, and spelling will be considered a part of
the grade assigned. Should a student miss either examination #1 or examination #2 for any
reason, the student will take a make-up examination consisting of material from Chapter 1
through Chapter 9.
ATTENDANCE
Students are expected to attend class regularly. If a student misses class, it is the student's
responsibility to determine what he or she missed. The last day to withdraw with a grade of “W”
is November 17, 2017.
POLICY STATEMENT
It is students' responsibility to attend all of their classes. If they miss a class meeting for any
reason, students are responsible for all content that is covered, for announcements made in their
absence, and for acquiring any materials that may have been distributed in class. It is expected
that students be on time for all their classes. If students walk into a class after it has begun, it is
expected that they choose a seat close to where they entered the room so that they do not disrupt
the class meeting. Students are expected to follow ordinary rules of courtesy during class
sessions. Engaging in private, side conversations during class time is distracting to other students
and to the instructor. Disruptive behavior of any type, including sharpening pencils during class
while someone is speaking, is not appropriate. The college welcomes all students into an
environment that creates a sense of community pride and respect; we are all here to work
cooperatively and to learn together.
Excessive absences, unsatisfactory progress, undesirable citizenship, falsification of work, or
allowing others to copy your work may serve as a basis for a failing grade and/or dismissal from
class. The college and I take academic honesty issues very seriously. I expect ethical behavior,
integrity, and proper behavior inside the classroom. Students who commit academic dishonesty
will be dealt with according to the college’s academic honesty policy, a copy of which may be
found on page 136 of the fall 2017 class schedule. Sharing of calculators, or use of cell phones,
is not allowed during tests.
Please turn off cell phones before the class begins. Any student caught texting during class will
be dismissed from class from the remainder of the class session, and may return to the following
class session if they promise to turn off their cell phone and keep it off for the remainder of the
semester. Additionally an email will be sent to Prof. Terri Alenikov, Department Chair, and the
dean of the Business, Humanities and Social Sciences Division, informing them of this action.
There are no exceptions.
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SCHEDULE OF ACTIVITIES
DATE
Aug 15
Aug 17
Aug 22
Aug 24
Aug 29
Aug 31
Sept 5
Sept 7
Sept 12
Sept 14
Sept 19
Sept 21
Sept 26
Sept 28
Oct 3
Oct 5
Oct 10
Oct 12
Oct 17
Oct 19
Oct 24
Oct 26
Oc t 31
Nov 2
Nov 7
Nov 9
Nov 14
Nov 16
Nov 21
Nov 23
ACTIVITIES
Course introduction. Discuss Chapter 1. PR 1-7B, using T-accounts.
Ex. 1-2, Ex. 1-3, Ex. 1-8. Ch. 2: Ex. 2-1, 2, 4. Start PR 2-1B (journal entries only).
PR 2-1B. Ex. 2-11, Ex. 2-12. Ex. 2-16 to 18. Start PR2-2B.
PR2-2B. QS3-2 and 3. Ex. 3-1, 2 and 3. Start PR3-2B.
PR3-2B. QS 3-10 and 11. PR3-5B. QS 3-21 thru 24.
Pre-quiz #1 due; Quiz #1 (Chapters 1, 2 and 3).
Ex. 4-2, 4, 5. PR 4-1B. Start PR 4-2B.
Ex.
R
PR 4-2B, PR 4-3B. PR 4-4B, QS4-9 and 12.
Ex. 5-1, QS 5-4, 5 and 6. PR 5-1B, PR 5-10B(B), Ex. 5-10, QS 5-20, EX. 5-13.
Pre-Quiz #2 due; Quiz #2 (Chapters 4 and 5).
EXAMINATION #1 (Chapters 1 – 5).
Ex. 6-9, 10, and 8. PR 6-4B, PR 6-5B.
Ex. 6-7, Ex. 6-2, Ex. 6-1. Introduce Ch. 7. PR 7-1B, Ex. 7-4, 5 and 7. Start PR 7-2B.
PR 7-2B, PR7-3B. Ex. 7-13, Ex. 7-12, PR 7-5B. QS7-12.
Pre-quiz #3 due; Quiz #3 (Chapters 6 and 7).
Ex. 8-1, 8-2, 8-3 and Ex. 8-4, 5, 6, 11 and 12. Start PR 8-2B.
PR 8-2B. Ex. 8-14. Ex. 8-17, PR 8-5B. Ex. 8-19 and 20. PR 8-7B.
Ex. 9-3, 4 and PR 9-1B. Ex. 9-16(A), PR 9-2B. PR 9-4B. QS 9-8. QS9-10.
Pre-quiz #4 due; Quiz #4 (Chapters 8 and 9).
EXAMINATION #2 (Chapters 6-9).
Handout: accounting for bonds payable. QS 10-1. Ex. 10-1, 2, 7.
Class
Class cancelled. On line assignment.
PR 10-2B, PR 10-3B, P 10-5B. QS 10-9. QS 10-13.
HOLI
QS 11-1, QS 11-2, QS 11-4, QS 11-3, QS11-5, Ex. 11-4, Ex. 11-3. PR 11-1B.
QS 11-6, QS 11-9, QS11-10, QS 11-7, QS 11-8. Ex. 11-10. PR 11-2B. Ex. 11-13, Ex. 11-14, Ex.
11-15.
Replacement exam.
Pre-quiz #5 due; Quiz #5 (Chapters 10 and 11) on line. Work on group project.
Appendix C: Ex. C-2, C-5, C-7. PR C-2B. QS C-4, Ex. C-12.
Qs 12-1. Ex. 12-4. Ex. 12-5. PR 12-1B. Ex. 12-7, 8.
HOLIDAY
Nov 28
PR 12-6B, PR 12-3B.
Nov 30
Dec 5
Dec 7
Work on group project.
Pre-Quiz #6 due; Quiz #6 (Ch. 12 and Appendix C.)
Review for final examination. Group project due.
Dec 12
FINAL EXAMINATION (Chapters 10, 11, 12 and Appendix C).
The above exercises and problems are scheduled as part of the lecture. Students who attempt these
exercises and problems before they are reviewed in class will usually score better on tests. The above
activities may be adjusted; any adjustments will be announced. Quizzes may not be made up.
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HOW TO DOWNLOAD LECTURE NOTES
Lecture notes are available for each chapter. Go to my website, www.cerritos.edu/mfarina and
click on ACCT 101. Select the chapter you would like and open the link.
HOW TO REGISTER AS A STUDENT ON CONNECT
 Go to Connect and click on “REGISTER NOW”
url: http://connect.mheducation.com/class/m-farina-accounting-101-fall-2017
 Enter your email address
 Enter your registration code
 Create your account. Make sure to write down your email address and password
 Follow the on-screen directions. Please choose your Security Question and Answer
carefully. Make sure to write them down and keep them in a safe place.
 When registration is complete, click on “Go to Connect Now”
HOW TO ACCESS CONNECT TO COMPLETE HOMEWORK
Homework assignments are listed in “On Line Homework Assignments” above. These
assignments must be completed using Connect.
NOTE: Homework assignments have unlimited attempts and only the best score is recorded.
Each question will be given one at a time.
 Go to Connect
 Enter your Login and Password (password and login are case-sensitive)
 Select an Assignment Name
 A new window opens. Click on “Start Assignment”
 You may print the assignment, complete it by hand, then enter your answers in Connect
later. This is the preferred approach
 Read the instructions window, then close the instructions window
 Work on the assignment in Connect
 You may click on “check my work” as needed
 When all questions in the assignment are completed, click “submit assignment”. (Note:
Incomplete assignments can be saved and worked on later by clicking “save and exit.”
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Cerritos College Accounting Department
ACCT 101 – Principles of Accounting I
Student Learning Outcomes (SLO’s)
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
Identify users of financial information and the information provided by financial statements.
Analyze and record service business transactions into the fundamental accounting equation. (Ch
1)
Analyze and record service business transactions using the rules of debit and credit into a
general journal and post to “T” accounts or a general ledger. (Ch 2)
Analyze and record adjusting entries, complete a worksheet and prepare an income statement,
statement of retained earnings, and a balance sheet. (Ch 3)
Analyze and record merchandise transactions into a general journal, post to “T” accounts or a
general ledger and prepare a multiple-step income statement. (Ch 4)
Compute inventory values in a perpetual system using the FIFO, LIFO, average cost and specific
identification methods. (Ch 5)
Prepare a bank reconciliation and the resulting adjusting journal entries. (Ch 6)
Calculate and prepare adjusting general journal entries to record the effect of uncollectible
accounts receivable using the direct write-off and allowance methods. (Ch 7)
Understand the cost principle for Plant Assets and compute depreciation and the resulting
journal entries using the straight-line, units-of-production and declining-balance methods. (Ch 8)
Prepare entries to record transactions related to current liabilities including short term Notes
Payable and Payroll. (Ch 9)
Compute and prepare resulting journal entries for the issuance of Bonds including the
amortization of any premium/discount using the straight-line method (Ch 10)
Record the issuance of corporate stock and subsequent transactions involving cash and stock
dividends and treasury stock purchases and sales. (Ch 11)
Prepare a statement of cash flows using the indirect method for operating activities. (Ch 12)
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