ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
Instructor:
E-mail:
Office:
Class Meetings: TTh, 9:00 a.m. – 10:50 a.m.
Office Hours: M-Tu, 1:00 p.m. – 2:30 p.m.
W-Th, 1:00 p.m. – 2:00 p.m.
Michael Gilkey
mgilkey@palomar.edu
MD-345
REQUIRED MATERIALS
Financial Accounting – Custom Edition, Spiceland, Thomas, Herrmann (McGraw-Hill, 2nd Edition)
Connect Access Card, Calculator, Scantrons, Pencil, White Eraser, Red Pen.
COURSE OBJECTIVES
Upon successful completion of this course, the student will be able to: identify accounting's
role in society and the types of decisions, investors, and creditors make from accounting
data, present an accounting concept or homework problem applying accounting cycle theory,
discuss what information is typically found in basic financial statements, apply knowledge
to the correct usage of systems design, communicate how transactions are established and
how to maintain cash funds, apply the principles and procedures for determining the value
of short-term and long-term payables, plant assets, intangible assets, and corporate bonds,
analyze and evaluate basic accounting problems pertaining to organization and operation of
corporations, compare and contrast the direct method and the indirect method of preparation
of statement of cash flows, discuss the role ethics plays in accounting, identify the ways in
which accounting is an information development and communication function that supports
economic decision making.
STUDENT LEARNING OUTCOMES
(1) Analyze and record business transactions using the double entry accounting method and
in accordance with generally accepted accounting principles (GAAP); (2) Prepare a
Balance Sheet, an Income Statement, and a Statement of Cash Flows; (3) Interpret and
analyze the Income Statement, Balance Sheet, and Statement of Cash Flows for the purpose
of making business decisions.
PURPOSE OF THIS COURSE
This course is intended to provide the student with the background necessary to effectively
use accounting information in making business decisions. The student will become familiar
with the basic accounting model and learn how businesses record financial information.
Also, the student will gain an understanding of the strengths and limitations of different
kinds of financial information, and learn about the general nature and operations of business
entities.
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
ATTENDANCE AND PARTICIPATION
Attendance is very important to stay abreast of the material presented in class. Your success
will depend on regular attendance. You will receive participation credit for each class
attended. I will be calling on you in class when we review the homework assignments.
Contributing to class discussions, asking questions, answering questions, etc., will also
affect your participation score.
READING ASSIGNMENTS
Accounting is a challenging subject. Please read the assigned material (from the class notes
and the textbook) prior to the class discussion.
HANDOUTS
Students should print and bring the class notes provided on Blackboard. These are the basis
for our class discussions, and will be used to demonstrate concepts discussed in class. The
notes also include information for the work we will do in class and the homework handouts.
Many of the exam questions will be taken from the class notes.
YOUR FELLOW STUDENTS ARE YOUR BEST RESOURCE
A student who misses a class should contact other students in the class to determine what
material was missed during the absence. If you do not have contact information for other
students, you should post a message on the discussion forum in Blackboard. Students
frequently use this forum to communicate outside of class.
Name
Contact Information
Students are encouraged to form study groups. More fun, learn more, time flies, others may
get what you don’t.
HOMEWORK & QUIZZES
Accounting is a difficult course and will require a lot of work outside of class. Homework
will be assigned from the end of each chapter and needs to be completed by the due date
announced in class. Most homework will be completed on Connect. Some homework will
be completed on paper and turned it. Much of the homework will be reviewed in class.
There will be a quiz on each section prior to the exam. No make-up quizzes will be given.
Points for quiz questions are approximately the same as for the exams. The total quiz points
earned will be converted to the 100 points through a percentage.
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
BLACKBOARD
I use Blackboard in this course for handouts and announcements. Please check Blackboard
frequently, as well as before class. I sent an e-mail prior to the start of the semester. If you
didn’t receive the e-mail, please check eServices to verify your e-mail address. Students are
responsible for announcements posted on Blackboard.
EXAMS
There will be four exams, each covering one unit of material. Please bring a Scantron for
the objective portion of each exam.
Basic calculators may be used on exams, however, cell phones and calculators capable of
storing characters (this includes most graphing calculators) may not be used on exams. If
you have questions about your calculator, please ask. Please use use a pencil when entering
your answers on the Scantron. You may use scratch paper for the multiple-choice exam.
Since many classrooms have only marginally functional pencil sharpeners, I recommend
students use mechanical pencils. Alternatively, students may bring several pre-sharpened
pencils for the exams.
Please note the exam dates on the attached tentative schedule and resolve any conflicts you
may have now.
REMEMBER: NO ELECTRONIC DEVICES MAY BE USED DURING QUIZZES OR
EXAMS, EXCEPT NON-GRAPHING CALCULATORS.
GRADING
Exam #1
Exam #2
Exam #3
Exam #4
Quizzes
Homework
Participation
Total Points Available
175
175
150
150
100
150
100
1,000
A = 90 – 100%
B = 80 – 89%
C = 70 – 79%
D = 60 – 69%
F = Less than 60%
ACADEMIC INTEGRITY
Palomar College will not tolerate cheating of any kind.
CELL PHONES
Please keep cell phones in your backpack during class.
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
E-MAIL
When corresponding via e-mail, please include both your name and the course (ACCT 201)
in the subject line. Also, when replying, please include the contents of prior e-mails to
facilitate the correspondence.
COURSE SUCCESS
The following factors will significantly influence your success in this course:
1. Regular attendance and participation.
2. Completion of homework assignments before class.
3. Reading the written material multiple times.
4. Rewriting your written class notes between class meetings.
5. Use of the additional resources provided by the textbook publisher.
6. Team learning – working with other students.
7. Learning and understanding the terminology. Students will likely encounter
numerous unfamiliar terms which are critical for understanding the accounting
concepts.
8. Tutoring may be available by appointment, at the Tutoring Center (located on the first
floor of the library), ext. 2448.
My responsibility is to help you learn the material. Thus, we are partners in the learning
process. My objectives are for you to learn the material and for you to perform well in the
course. I strongly believe that if you put forth the necessary effort throughout the course,
these objectives can be achieved. If you have any questions or problems you would like to
discuss with me, please let me know.
KEY DATES
Please note the following key dates for this term:
Last day to add course
Sunday, January 26, 2014
Last day to drop with no notation on record Sunday, January 26, 2014
Last day to drop
Saturday, March 15, 2014
Final Exam
Tuesday, May 13, 2014 8:00 - 9:50 a.m.
MCGRAW-HILL & CONNECT
McGraw-Hill has provided extensive On-Line resources for this course and text. Links to
these resources can be found in Connect and on Blackboard. These are very good resources.
The link to Connect can be found on Blackboard.
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
DEGREES AND CERTIFICATES AT PALOMAR
The following degrees and certificates can be earned at Palomar. Even if a Palomar degree or certificate is not
your ultimate goal, you should consider pursuing one as an intermediate goal. A Palomar degree or certificate
demonstrates achievement and may help you get a job in your area of study. Detailed requirements for these
degrees and certificates can be found in the Palomar College catalog. Please see me if you have any questions.
Accounting:
 Accounting (Associate in Arts Degree, Certificate of Achievement)
 Bookkeeping/Accounting Clerk (Certificate of Proficiency)
Business:
 Advertising, Marketing, and Merchandising (Associate in Arts Degree, Certificate of Achievement)
 Business Administration (Associate in Arts Degree)
 Business – General (Associate in Arts Degree)
 E-Business (Certificate of Proficiency)
 E-Marketing (Associate in Arts Degree)
 Entrepreneurship (Certificate of Proficiency)
 Internet - Emphasis in Business Education (Associate in Arts Degree, Certificate of Achievement)
 Retail Management (Certificate of Achievement)
 Salesperson – Retail (Certificate of Proficiency)
Business Management:
 Business Management (Associate in Arts Degree, Certificate of Achievement)
Insurance:
 Commercial and Personal Insurance Services (Associate in Arts Degree, Certificate of Achievement)
 Insurance Services (Certificate of Proficiency)
International Business:
 International Business (Associate in Arts Degree, Certificate of Achievement)
Legal Studies:
 Legal Studies (Associate in Arts Degree)
 Legal Support Assistant (Certificate of Proficiency)
Office Information Systems:
 Administrative Assistant (Associate in Arts Degree, Certificate of Achievement)
 Data Entry (Certificate of Proficiency)
 International Administrative Assistant (Associate in Arts Degree, Certificate of Achievement)
 Medical Language Specialist (Associate in Arts Degree, Certificate of Achievement)
 Medical Office Management (Associate in Arts Degree, Certificate of Achievement)
 Receptionist (Certificate of Proficiency)
 Virtual Assistant (Certificate of Proficiency)
Real Estate:
 Escrow (Associate in Arts Degree, Certificate of Achievement)
 Real Estate Appraisal License Preparation (Certificate of Proficiency)
 Real Estate Broker License Preparation (Associate in Arts Degree, Certificate of Achievement)
 Real Estate Salesperson License Preparation (Certificate of Proficiency)
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
(Tentative Schedule)
Day
Date
Tue
1/14
Thur
Tue
Thur
Tue
1/16
1/21
1/23
1/28
Thur
1/30
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
Thur
Tue
2/4
2/6
2/11
2/13
2/18
2/20
2/25
2/27
3/4
3/6
3/11
3/13
3/18
3/20
3/25
3/27
4/1
4/3
4/8
4/10
4/15
4/17
4/22
4/24
4/29
Thur
5/1
Tue
Thur
Tue
5/6
5/8
5/13
Chapter
Chapter 1
Chapter 1
Chapter 1
Chapter 2
Chapter 2
Chapter 2
Chapter 3
Chapter 3
Review
Quiz
Exam #1
NO CLASS
Chapter 4
Chapter 4
Chapter 5
Chapter 5
Chapter 6
Chapter 6
Review
NO CLASS
NO CLASS
Quiz
Exam #2
Chapter 7
Chapter 7
Chapter 8
Chapter 8
Chapter 9
Chapter 9
Quiz
Exam #3
Chapter 10
Chapter 10
Chapter 11
Chapter 11
Quiz
Exam #4
Chapter Title
Introduction & Orientation
Accounting Info. & Decision Making
Accounting Info. & Decision Making
Accounting Info. & Decision Making
The Accounting Information System
The Accounting Information System
The Accounting Information System
The Financial Reporting Process
The Financial Reporting Process
Chapters 1-3
Chapters 1-3
Unit 1: Chapters 1-3
College Holiday
Cash and Internal Controls
Cash and Internal Controls
Receivables and Sales
Receivables and Sales
Inventory & Cost of Goods Sold
Inventory & Cost of Goods Sold
Chapters 4-6
Spring Break
Spring Break
Chapters 4-6
Unit 2: Chapters 4-6
Long-Term Assets
Long-Term Assets
Current Liabilities
Current Liabilities
Long-Term Liabilities
Long-Term Liabilities
Chapters 7-9
Unit 3: Chapters 7-9
Stockholders’ Equity
Stockholders’ Equity
Statement of Cash Flows
Statement of Cash Flows
Chapters 10-11
Unit 4: Chapters 10-11
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
(Tentative Assignment Schedule)
Chapter
Ch. 1
Ch. 1
Ch. 2
Ch. 2
Ch. 2
Ch. 3
Ch. 3
Ch. 3
Ch. 4
Ch. 4
Ch. 5
Ch. 5
Ch. 6
Ch. 6
Ch. 7
Ch. 7
Ch. 8
Homework
Chapter 1 On-line Lecture
Brief Exercises: 1,3,4,5,6,7,8.
Exercise: 16.
Exercises: 4,11,13.
Handout #1: Basic Financial Statements
Chapter 2 On-line Lecture
Exercise: 1.
Brief Exercises: 1,5.
Exercises: 2,6,7.
Handout #2: Basic Journal Entries.
Chapter 2 Exercise: 16.
Chapter 3 On-line Lecture
Chapter 3 Brief Exercises: 14,15.
Exercises: 1,2,6.
Handout #3: Adjusting Journal Entries
Handout #4: Financial Statements
Problem: 8A. (This is an algorithmic problem.)
Chapter 4 On-line Lecture
Brief Exercises: 1,2,3,4.
Exercises: 1,2,3,4. (These are on Connect.)
Exercises: 6,7,8. (On paper – bring 2 copies.)
Problem: 1A. (On paper – bring 2 copies.)
Chapter 5 On-line Lecture
LearnSmart Assignment.
Brief Exercises: 2,6.
Exercises: 9,11.
Handout #5: Journal Entries.
Chapter 6 On-line Lecture
Brief Exercise: 1.
Exercises: 16,1,2,3,15.
Brief Exercises: 21,22.
Handout #6: Financial Statements from Trial Balance.
Handout #7: Journal Entries.
Chapter 7 On-line Lecture
Exercise: 8.
Exercises: 1,11.
Problems: 2A.
Handout #8: Depreciation & Journal Entries.
Handout #9: Fixed Asset Journal Entries.
Chapter 8 On-line Lecture
Exercise: 1.
Problems: 1A & 1B.
Due
1/16
1/21
1/23
1/28
1/30
2/4
2/6
2/20
2/25
2/27
3/4
3/6
3/11
4/1
4/3
4/8
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ACCOUNTING 201 – FINANCIAL ACCOUNTING
SYLLABUS – SPRING 2014
(Tentative Assignment Schedule)
Chapter
Ch. 8
Ch. 9
Homework
Brief Exercise: 8.
Exercise:16.
Handout #10: Journal Entries.
Chapter 9 On-line Lecture
Exercise: 2.
Due
4/10
4/15
Ch. 9
Problems: 7A.
Handout #11: Amortization Schedule & Journal Entries.
Handout #12: Bond Journal Entries.
4/17
Ch. 10
Chapter 10 On-line Lecture
Brief Exercise: 6.
Exercise: 1.
Problems: 1A,1B.
4/29
Ch. 10
Exercise: 14.
Handout #13: Journal Entries.
Handout #14: Statement of Retained Earnings.
Ch. 11
Ch. 11
Chapter 11 On-line Lecture
Exercises: 1,3,4.
Exercises: 11,10.
Handout #15: Statement of Cash Flows.
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5/1
5/1
5/6
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