ACCOUNTING 1210-100
FUNDAMENTALS OF ACCOUNTING
CLASS SYLLABUS - SUMMER 2015
(Subject to Change)
Instructor:
Class Location:
Email:
Office:
Office phone:
Office hours:
Rick Serafini, CPA, CMA, MAC
Online
rick_serafini@ivcc.edu
A 327
815-224-0392
By Appointment
TABLE OF CONTENTS
I.
II.
III.
IV.
V.
VI.
VII.
VIII.
IX.
X.
XI.
XII.
XIII.
XIV.
XV.
XVI.
XVII.
XVIII.
XIX.
XX.
XXI.
XXII.
Course Description
Prerequisite
Expected Learning Outcomes
Course Materials
Assessment of Student Learning
Grading Scale
Contesting of Grades
Structure of Class
Classroom Rules
Instructor Expectations
Assessment Guidelines
Attendance Policy
Late Submission Policy
Extra Credit Policy
Plagiarism & Cheating
Special Needs
Withdrawal Policy & Financial Aid
Communicating with the Instructor
Student Email
Online Requirements
Assignments & Due Dates
Class Schedule
1
I. COURSE DESCRIPTION
Emphasis is placed on the procedural aspects of financial accounting for sole
proprietorship and merchandising companies. The accrual basis is used, debit and credit
is studied as it relates to the accounting equation. The entire accounting cycle is covered
for both service and merchandising businesses including adjustments, preparation of
financial reports, and closing procedures. Also included are bank statement
reconciliations, petty cash, special journals, and payroll accounting. The course is
intended for students who plan to take only one semester of accounting or for those who
need preparation before enrolling in ACT 1010.
II. PREREQUISITE
None.
III. EXPECTED LEARNING OUTCOMES
Upon successful completion of the course, the student will be able to;
●
●
●
●
●
●
●
●
●
●
Understand and be able to perform the steps in the accounting cycle for both a
sole proprietorship and merchandising company.
Prepare journal entries in proper format and be able to record these entries in the
General Journal, Sales Journal, Purchases Journal, Cash Receipts Journal, and Cash
Payments Journal.
Be able to properly post all entries to the General Ledger and Subsidiary Ledgers.
Be able to prepare a worksheet for a sole proprietorship and merchandising
company.
Be able to prepare a Pre and Post Closing Trial Balance.
Be able to prepare a bank reconciliation in proper form.
Be able to prepare a payroll register, and journalize payroll and payroll tax entries.
Understand various payroll reports such as 940, 941, W-2’s, W-3’s, and 8109.
Be able to prepare a Cost of Goods Sold section for a merchandising company
Be able to prepare a classified Income Statement, Statement of Owner’s Equity,
and classified Balance Sheet.
IV. REQUIRED MATERIALS
College Accounting, Chapters 1-12, Scott, 12th Edition
Access card for CENGAGE for College Accounting
2
V. ASSESSMENT OF STUDENT LEARNING
Point Distribution
Exams
Chapter Assignments
Cycle Review Problem
Total
3
10
1
720 points
250 points
30 points
1,000 points
VI. GRADING SCALE
90% - 100%
80% - 89%
65% - 79%
55% - 64%
< 55%
(900 – 1,000) pts
(800 – 899) pts
(650 – 799) pts
(550 – 649) pts
< 550
A
B
C
D
F
The instructor reserves the right to apply a class curve to points awarded. Final grades
are based on points, not percentages!
VII. CONTESTING OF GRADES
Any student wishing to contest a grade for any assignment must do so within 48 hours of
the posting of the grade on Blackboard – days when the college is closed do not count.
All grades after this time are final and not subject to change!
VIII. STRUCTURE OF THE CLASS
As mentioned above, the class will be administered in an on-line format. As such, you will
be required to use a greater amount of self-discipline and independent effort than you
might otherwise use in a normal face-to-face class format. It is of the upmost importance
that you keep current with all of your work. Always remember that even though this is
an online class, you will still have weekly due dates for all of your assignments.
This course will utilize both Blackboard and the publisher’s online homework
management system, CENGAGE. It will be important for you to access both of these
systems on at least an every other day basis. In addition, certain course documents, all
class announcements, as well as the class grade book will also be maintained on
Blackboard. CENGAGE will be used to complete all homework, and the cycle review
problem. Finally, all exams will be done using paper exams and taken in the Assessment
Center.
Grading of all homework, and the cycle review problem will be done through the
CENGAGE system with all grades transferred to Blackboard’s grade book. Grades for
3
assignments other than those taken through CENGAGE will be manually entered on
Blackboard. Grades in Blackboard will be considered the official class grades.
Solutions to all homework will be available in CENGAGE immediately following the due
date for the assignment.
IX. CLASSROOM RULES
Since this is an online class, the classroom rules are essentially to follow the instructions
as given to you in this Class Syllabus along with following the rules for Netiquette as
outlined below.
X. INSTRUCTOR EXPECTATIONS
The material found in this course is intended for the student who has limited or no prior
exposure to accounting. The author takes great pains to walk the student through the
material step by step building on each prior topic. The book is generously populated with
various visual aids to help the student follow the material.
Accounting is a discipline that must be mastered through repetition and the working of
problems. YOU SHOULD EXPECT TO SPEND 14 – 18 HOURS PER WEEK STUDYING THE
TEXTBOOK AND WORKING ON YOUR ASSIGNMENTS. Individual time requirements will
vary on the student’s ability.
Although the material is basic in nature, do not take this lightly! It is of the upmost
importance that the student work as many problems as possible to get a thorough
understanding of the material.
To be successful in this class, the student should do the following;
1. Read the chapter quickly to get a “feel” of the material being presented.
2. Re-read the chapter a second time much more slowly highlighting specific areas
that the author is covering.
3. Make a note card or other study aid to help commit certain concepts to memory.
Accounting is a transactional discipline that involves the application of various
steps in order to correctly apply a concept. The student will be required to
develop their own study pattern to help commit these steps to memory.
4. Work the problems as assigned. It is imperative that the student works, and in
some cases, reworks problems to develop the skill sets necessary to successfully
apply the concepts in the chapter.
5. IF YOU ARE HAVING PROBLEMS, MAKE AN APPOINTMENT TO SEE ME DURING
MY OFFICE HOURS SO THAT WE MAY DEVELOP A PLAN TO MOVE FORWARD.
THIS MAY INVOLVE USING TUTORING SERVICES AT THE COLLEGE IN ORDER TO
HELP YOU BETTER UNDERSTAND THE MATERIAL.
4
XI. ASSESSMENT GUIDELINES
(1) Chapter Assignments
You will have 12 chapter assignments with only the highest 10 counting meaning that I
will drop your 2 lowest scores. The chapter assignments are to be completed using the
CENGAGE system. There will be no time limit other than the due date, to complete your
assignment. Each chapter assignment will be worth 25 points and is due according to the
schedule attached.
Each homework assignment will be in the form of exercises, and problems. The questions
are the same as those that appear at the end of the chapters in your textbook and are
listed under Assignments and Due Dates. Your assignments will be automatically graded
by the CENGAGE program. The CENGAGE system is set up to allow you up to 4 attempts
in doing the problems. The program will indicate if you have the correct solution in
addition to providing hints after your second submission. Points will be awarded based
on partial credit for each exercise and problem with the point distribution roughly 60/40
between exercises and problems.
Solutions to the chapter assignments will be available in CENGAGE immediately after
the due date of the assignment. Please be sure to carefully review the solutions making
sure you understand the concept tested and how the author arrived at the answer.
Should you need further clarification on specific homework questions please contact
the instructor.
(2) Cycle Review Problem
You will be required to complete a Cycle Review Problem at the end of chapter 5. The
problem will be done using the CENGAGE system. This problem requires much more work
than the normal chapter problems and as such it is important that you begin working on
it as soon as you can. The due date for the cycle review problem is 07-07-15.
The review problem is worth a total of 30 points. The solution will be available in
Cengage immediately after the due date.
5
(3) Exams
There will be 3 exams totaling 720 points. Exam number 3 will be our final exam covering
the last 4 chapters meaning that there will not be a comprehensive final for this class.
The exams with their relative point value, coverage area, and time limits are as follows:
Test #1
Test #2
Test #3
Chapters 1, 2, 3, 4, 5
Chapters 6, 7, 8
Chapters 9, 10, 11, 12
300 points
180 points
240 points
2 ½ Hours
1 Hour
2 Hours
You will only be able to use a calculator for the exam, no other notes or materials. You
must use the calculator provided for you. Exams will be administered through the
Assessment Center and can be taken at either the Oglesby or Ottawa locations. Be sure
to bring a photo ID and any other required documents as specified by the Assessment
Center. It will be up to you to make arrangements with the Assessment Center to set up
a time to take your exam by calling (815) 224-0542. Schedule your exam early since there
are only a limited number of spots available. Be sure also to check on the hours that the
Assessment Center is open!
Exams can consist of classification of terms, multiple choice theory questions, multiple
choice requiring calculations, and various problems requiring completion of tables,
worksheets, journals, ledgers, and so on.
Please see the Word document “Study Guide for Exams” found under Course Information
for further detail on what will be covered for each exam.
A rough estimate of point distributions for each exam is approximately 10% for
classification of terms, 30% for multiple choice, and the remaining 60% for problem
solving of various kinds.
Should you wish to review the results of your exam in detail, please contact me and we
can set up a time to meet.
6
XII. ATTENDANCE POLICY
This course will be taught in an online format. Your “attendance” will be monitored by
your weekly submission of assignments and your timely postings to the discussion board.
If you miss a significant amount of assignments and/or show a lack of sufficient
participation in the class, the instructor reserves the right to withdraw you from class
without prior notification!
XIII. LATE SUBMISSION POLICY
All assignments are due on the date indicated under the section entitled “Assignments
and Due Dates” found in this Class Syllabus. ALL ASSIGNMENTS ARE DUE ON THE DATE
IDENTIFIED IN THIS DOCUMENT WITH NO EXCEPTIONS WHATSOEVER. The following
are specific guidelines for each of the assessment types:
(1) Chapter Assignments;
I realize that there can always be unforeseen circumstances outside of the control of the
student which will make it impossible to meet a due date for a given assignment;
therefore I will drop the (2) lowest chapter assignments. This will allow for most any
unforeseen circumstances that might arise.
(2) Exams;
Exams are due during the week specified under “Assignments and Due Dates” and must
be taken in the Assessment Center. Exams can be taken any day Monday through Friday
during that particular exam week. Reproduced here are the dates for each of the exams;
Exam 1
Exam 2
Exam 3
06-30-15 to 07-07-15
07-15-15 to 07-21-15
07-29-15 to 08-04-15
There will be no makeup tests unless the student contacts the instructor BEFORE the
final dates shown above for each of the exams. If the student does not contact the
instructor before this date they will receive a zero (0) for that exam! If the student does
contact the instructor with a legitimate reason as determined by the instructor as to why
they cannot take the exam during the time allotted, an alternative time will be arranged;
this will be done only under extreme circumstances.
(3) Cycle Review Problem;
The Cycle Review Problem is due 07-78-15, no late submissions will be accepted.
7
XIV. EXTRA CREDIT POLICY
No extra credit is given in this course; however the instructor reserves the right to add
additional assignment(s) as extra credit should it be considered beneficial to the learning
process.
XV. PLAGIARISIM AND CHEATING POLICY
Plagiarism involves using another person’s exact words or thoughts without citing the
source in your work. Plagiarism is therefore an illegal act that constitutes a type of theft
from another individual. Such actions are not tolerated in the business world and will not
be tolerated in class. Whenever exact quotes are used, citing the source of the original
material is required. Illinois Valley Community College prohibits plagiarism in any form.
Students found plagiarizing or cheating in any way will result in automatically failing the
course and/or dismissal from the college.
XVI. SPECIAL NEEDS
This course is designed to support a diversity of learners. My hope is to create a safe
environment for all students. If you want to discuss your learning experience, please talk
to me as early in the term as possible. If you know you have, or suspect you have a
disability (learning disability, physical disability, or psychiatric disability such as anxiety,
depression, bipolar disorder, AD/HD, post-traumatic stress, or others) for which you may
need accommodations, please contact the Disability Services Office in B-204. Tina Hardy
tina_hardy@ivcc.edu, (224-0284) or Judy Mika Judy_Mika@ivcc.edu (224-0350) work in
that office and can help determine if you are eligible for support.
XVII. WITHDRAWAL POLICY AND FINANCIAL AID
You may be withdrawn from the class in one of two ways;
Instructor initiated – Based on the attendance/participation requirement outlined above,
I reserve the right to withdraw a student from class without prior notification.
Student initiated - Effective Summer 2011, students will have the ability to initiate a
withdrawal from classes. By completing the form in the Records Office or at
www.ivcc.edu/withdraw, the student is authorizing IVCC to remove him/her from the
course. Entering the student ID number serves as the student’s electronic signature. IVCC
has the right to rescind a withdrawal in cases of academic dishonesty or at the
instructor’s discretion.
8
Students should be aware of the impact of a withdrawal on full-time status for insurance
purposes and for financial aid. It is highly recommended that students meet with their
instructor or with a counselor before withdrawing from a class to discuss if a withdrawal
is the best course of action for that particular student. The last day to withdraw for this
class is July 21, 2015. Any student who has not withdrawn from the class after this date
will receive a letter grade! No exceptions to this rule will be made!
XVIII. COMMUNICATING WITH THE INSTRUCTOR
The instructor’s contact information is listed above. You may contact me by phone, in
person or email. Whenever contacting the instructor using email, be sure to place your
full name in the subject line along with your class number and section. Emails will be
responded to within 24 hours except on weekends and holidays.
XIX. STUDENT EMAIL
Please note: Effective Summer 2011, all students will be responsible for checking their
IVCC email. All electronic college correspondence will only be sent to the IVCC email. For
information
on
accessing
this
account,
go
to
http://www.ivcc.edu/studenthelpdesk.aspx?id=16712.”
XX. ONLINE REQUIREMENTS
BLACKBOARD
All communication, grades, and most course documents will be provided for you through
Blackboard. Your instructor will enroll you in your Blackboard class based on the class
roster.
Please be sure to check Blackboard often for announcements from your instructor
concerning all important information for this class. Also, please make sure to verify that
your student email account is working. Important announcements may also be emailed
to you through Blackboard by your instructor. It is the student’s responsibility to insure
that their student email is correct and working properly.
9
CENGAGE
All chapter assignments and the cycle review problem will be completed using CENGAGE.
It is your responsibility to register and monitor your use of this online system. For any
problems with the CENGAGE system please contact CENGAGE TECHNICAL SUPPORT!
Your instructor cannot trouble shoot problems with their system or program! You may
contact technical support through their website found through a link in your course
home page or you may contact them by phone at 1-800-354-9706.
GENERAL TECHNICAL ASSISTANCE
The center provides individualized academic assistance to all students utilizing computer
technology. The Help Desk Support Staff provides assistance to students in person, on
the phone, and via e-mail.
Phone:
Location:
Email:
Web Page:
Contact Person:
815-224-0318
D201
crc@ivcc.edu
http://www.ivcc.edu/crc
Michelle Story - Michelle_Story@ivcc.edu
If you need assistance with communication tools or software issues, contact our staff. If
you are having trouble with your computer, you will need to contact the manufacturer or
the store where you bought it. If you are having trouble with your Internet connection,
you should contact your Internet Services Provider (ISP).
In case you are having difficulty logging into Blackboard or accessing your student email,
IVCC has set up a “Known Technical Issues” Page for your convenience. This page is
located at http://www.ivcc.edu/its/students/KnownIssues.html.
Please call 224-0555 as soon as you detect a problem during regular campus hours.
10
NETIQUETTE
In the virtual classroom, you communicate with your classmates and Instructor primarily
in writing through the public course bulletin board, e-mail, and sometimes chat sessions.
“Online manners” are generally known as “netiquette”. As a general rule, you should
adhere to the same classroom conduct that you would “off-line” in a face-to-face course.
Some examples of proper netiquette are:
●
●
●
●
●
●
●
Avoid writing messages in all capital letters. THIS IS GENERALLY
UNDERSTOOD AS SHOUTING.
Be careful what you put in writing. Even if you are writing an e-mail
message to one person, assume that anyone could read it. Though you
may send an e-mail to a single person, it is very easy to forward your
message to hundreds or thousands of people.
Students use of grammar and spelling matter in all classrooms whether
face-to-face or online.
Never use profanity in any area of an online course. The transcripts of
online course bulletin boards, email, and chat sessions are savable.
When responding to messages, only use “Reply to All” when you really
intend to reply to all.
Avoid unkindly public criticism of others. Publicly criticizing others in an
inappropriate way is known as “flaming”.
Use sarcasm cautiously, in the absence of nonverbal cues such as facial
expressions and voice inflections, the context for your sarcasm may be
lost, and your message may thus be misinterpreted.
In a face-to-face setting, our tone and facial expressions may convey as much of our
meaning as the words we use. In a written message, the subtext of your meaning may be
confused or misinterpreted. Please do not use Internet slang abbreviations (e.g., “lol”,
“brb”, etc.). Not everyone may understand.
Source: How to Succeed in an Online Course: Study Skills and Survival Tips. 6.2.05
http://www.distancelearning.org/howtosucceed.html
VIRTUAL CLASSROOM
To log in the First Time:
1.
2.
3.
Go to http://blackboard.ivcc.edu
Follow the instructions.
Do Not Forget to Change Your Password once you have logged in
successfully!
11
FINAL SPECIAL NOTE:
As stated earlier, it is the student’s responsibility to initiate in a withdrawal from this
class. The final date for withdraw is July 21, 2015. Anyone remaining after that date
will receive a letter grade according to the point structure listed above.
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XXI. ASSIGNEMENTS & DUE DATES
DUE DATE
EXERCISE
PROBLEM
OTHER
DELIVERY
DAY
DATE
TIME
METHOD
JUNE
1-1, 1-2, 1-3, 1-4, 1-5,
1-6, 1-7, 1-8
NONE
TUE
06/16/15
11:55 PM
CENGAGE
2-1, 2-2, 2-3, 2-4, 2-5,
2-6, 2-7, 2-8
2-4A
TUE
06/16/15
11:55 PM
CENGAGE
3-1, 3-2, 3-3, 3-4, 3-5,
3-6, 3-7, 3-8
3-5A
TUE
06/23/15
11:55 PM
CENGAGE
4-1, 4-2, 4-3, 4-4, 4-5,
4-6, 4-7, 4-8, 4-9
4-5A
TUE
06/23/15
11:55 PM
CENGAGE
5-1, 5-2, 5-3, 5-4, 5-5,
5-6, 5-7, 5-8, 5-9,5-10
5-3A
TUE
06/30/15
11:55 PM
CENGAGE
6-1, 6-2, 6-3, 6-4, 6-5,
6-6, 6-7, 6-8
6-4A
TUE
06/30/15
11:55 PM
CENGAGE
EXAM 1
TUE
07/07/15
7:00 PM
ASSESSMENT
CENTER
CYC REV
PRB
TUE
07/07/15
11:55 PM
CENGAGE
JULY
7-1, 7-2, 7-3, 7-4, 7-5,
7-6, 7-7, 7-8
7-2A
TUE
07/14/15
11:55 PM
CENGAGE
8-1, 8-2, 8-3, 8-4, 8-5,
8-6, 8-7, 8-8
8-4A
TUE
07/14/15
11:55 PM
CENGAGE
9-1, 9-2, 9-3, 9-4, 9-5,
9-6, 9-7, 9-8, 9-9, 9-10
9-6A
TUE
07/21/15
11:55 PM
CENGAGE
TUE
07/21/15
7:00 PM
ASSESSMENT
CENTER
TUE
07/28/15
11:55 PM
CENGAGE
EXAM 2
10-1, 10-2, 10-3, 10-4,
10-5, 10-6,10-7,10-8,
10-9, 10-10
10-5A
13
11-1, 11-2, 11-3, 11-4,
11-5, 11-6, 11-7
11-2A
TUE
07/28/15
11:55 PM
CENGAGE
TUE
08/04/15
11:55 PM
CENGAGE
TUE
08/04/15
7:00 PM
ASSESSMENT
CENTER
AUGUST
12-1, 12-2, 12-3, 12-4,
12-5,12-6, 12-7, 12-8
12-4A
EXAM 3
14
XXII. CLASS SCHEDULE
WEEK
Day
Dates
Chapter
Exam
Other
JUNE
1
Wednesday - Tuesday
06-10-15 / 06-16-15
CH 1 & 2
2
Wednesday - Tuesday
06-17-15 / 06-23-15
CH 3 & 4
3
Wednesday - Tuesday
06-24-15 / 06-30-15
CH 5 & 6
JULY
4
Wednesday - Tuesday
07-01-15 / 07-07-15
NONE
5
Wednesday - Tuesday
07-08-15 / 07-14-15
CH 7 & 8
6
Wednesday - Tuesday
07-15-15 / 07-21-15
CH 9
Tuesday
07/21/15
7
Wednesday - Tuesday
07-22-15 / 07-28-15
CH 10 & 11
8
Wednesday - Tuesday
07-29-15 / 08-04-15
CH 12
EXAM 1
EXAM 2
FINAL DATE FOR WITHDRAWAL
15
EXAM 3