ACC 101 M/W Spring 2015 -
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Orange Coast College
Syllabus
Course Number: Accounting 101
Course Title: Financial Accounting
SCHEDULE:
6:30pm – 9:05 pm. Monday and Wednesday
CALENDAR:
Spring 2015
INSTRUCTOR:
Arabian Morgan, CPA, MST
CONTACT INFO: Telephone 714-432-0202 x23107 Office: Computing Center: Room “C”
Email: amorgan@occ.cccd.edu (subject line: ACC 101 MW)
OFFICE HOURS:
Monday
Tuesday
Wednesday
Thursday
5:15pm – 6:15pm
5:15pm – 6:15pm
5:15pm – 6:15pm
5:15pm – 6:15pm
ACCOUNTING 101 Financial Accounting: A course covering the fundamentals of financial
accounting of the corporate entity. Involves the analysis, recording, and
summarizing of accounting transactions on the accrual basis. Emphasis on
accounting as an information system meeting the demands of users for
decision making.
STUDENT LEARNING OUTCOMES:
The student will be able to:
1.
2.
3.
4.
5.
Demonstrate ability to prepare financial statements for a corporation.
Prepare accounting entries required for a service versus merchandising business.
Identify ethical issues in financial accounting.
Demonstrate knowledge of an accounting cycle by performing appropriate accounting functions.
Demonstrate knowledge of financial reporting rules and disclosure, including international
standards, such as International Financial Reporting Standards (IFRS).
COURSE OBJECTIVES:
1. Explain the nature and purpose of generally accepted accounting principles (GAAP) and
International Financial Reporting Standards (IFRS). Explain and apply the components of the
conceptual framework for financial accounting and reporting, including the qualitative
characteristics of accounting information, the assumptions underlying accounting, the basic
principles of financial accounting, and the constraints and limitations on accounting information.
2. Define and use accounting and business terminology.
3. Explain what a system is and how an accounting system is designed to satisfy the needs of
specific businesses and users; summarize the purpose of journals and ledgers.
4. Apply transaction analysis, input transactions into the accounting system, process this input, and
prepare and interpret the four basic financial statements.
5. Distinguish between cash basis and accrual basis accounting and their impact on the financial
statements, including the revenue recognition and matching principles.
6. Identify and illustrate how the principles of internal control are used to manage and control the
firm’s resources and minimize risk.
ACC 101 M/W Spring 2015 -
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7. Explain the content, form, and purpose of the basic financial statements (including footnotes)
and the annual report, and how they satisfy the information needs of investors, creditors, and
other users.
8. Explain the nature of current assets and related issues, including the measurement and reporting
of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods sold.
9. Explain the valuation and reporting of current liabilities, estimated liabilities, and other
contingencies.
10. Identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and
disposal.
11. Distinguish between capital and revenue expenditures.
12. Identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and
retirement of debt;(including the time value of money).
13. Identify and illustrate issues relating to stockholders’ equity, including issuance, repurchase of
capital stock, and dividends.
14. Explain the importance of operating, investing and financing activities reported in the Statement
of Cash Flows.
15. Interpret company activity, profitability, liquidity and solvency through selection and application
of appropriate financial analysis tools.
16. Identify the ethical implications inherent in financial reporting and be able to apply strategies for
addressing them.
ILLEGAL
MATERIALS OR
SUBSTANCE
Students will not be allowed to remain in class if they bring illegal
materials or substances of any kind to class. Examples of such include:
Federal illegal narcotics, illegally downloaded material (music, videos,
games, etc.), photocopies of copy written material (class workbook
included), etc.
AUDIO/VIDEO
No audio, video or still pictures are allowed to be captured of the
instructor or his/her lessons.
CAMERA POLICY
You are not allowed to have any devices that take pictures or capture images in your possession
when quizzes, exams or tests are being conducted. If you have these items in a book bag or
purse (do not take them out). You will receive zero points on that particular exam if the
instructor/proctor or another student observes the device. The goal of this policy is to protect the
integrity of the test items.
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TEXTS:
ISBN: 9780989406819
Morgan, All Dogs Eat Financial Accounting, 2nd Edition. Approx 452 pages. (A
bonus 20 points will be added to points earned by students who have completed
workbook assignments on time. This book is only available in the OCC
bookstore. The other editions are no longer used. Please do not be fooled with
online sellers. Check the ISBN number.)
Kimmel / Weygandt / Kieso
ISBN-10: 0471730513 ISBN-13: 9780471730514
Financial Accounting; Tools for Business Decision Making, 4th Edition
(Instructor has copies that can be used for the semester for a $20 refundable
deposit. Purchases can be made online at many book resellers [i.e.
Amazon.com, Half.com] for a reasonable cost ($5 plus shipping). Don’t pay
more than $20. This book will not be available in the OCC bookstore.)
REQUIRED
IN CLASS
TOOLS:
Four function calculator. You are not allowed to use the following
calculators during tests: Scientific, graphing, financial and the like. If
your calculator does more functions than add, multiply, subtract and
divide, get a simpler one. Phones will not be allowed.
REQUIRED OUT OF CLASS TOOLS:
Internet access; computer with working audio ports (speakers or headphones); A computer with
audio (speakers or headphones) ports connected to the internet with the following software:

Java, Flash Player 6.0.79 or later (http://www.adobe.com/go/getflash) (Flash Player 7 or
later recommended), and one of the following browsers:
Windows
o
o
o
Internet Explorer 7 or greater
Netscape 7.2 and 8.1
Firefox 1.5.0.1 and 1.0.7
Macintosh
o
OS 9

Netscape 7.0
o OS X v10.3
 Netscape 7.2
 Mozilla 1.7.12
 Firefox 1.5.0.1
 Safari 1.3.9
o OS X v10.4
 Netscape 7.2
 Firefox 1.5.0.1
 Safari 2.0
BIOGRAPHY:
ACC 101 M/W Spring 2015 - 4
Arabian Morgan has taught for OCC and several other local area
universities and colleges.
Arabian was a consultant for five years with one of the world’s largest
public accounting firms, PricewaterhouseCoopers LLP, specializing in tax
consulting and financial planning. He is a licensed Certified Public
Accountant. Over the past 20 years Arabian has provided tax and
financial planning consulting services to individuals and businesses of all
net worth’s.
Arabian earned his Masters in Business Taxation from the University of
Southern California (USC) and also possesses a Bachelor of Science
degree in Accounting from USC.
ATTENDANCE:
Class attendance is mandatory.
PARTICIPATION: Class participation is mandatory.
Examples of things that cause one not to earn the maximum amount of class points:
Not reading assigned material
Not doing homework
Not coming to class
Not accurately responding to quiz questions
Being disruptive
Arriving late, leaving early
Cell phone/pagers usage during class
ILLEGAL
MATERIALS OR
SUBSTANCE
Students will not be allowed to remain in class if they bring illegal
materials or substances of any kind to class. Examples of such include:
Federal illegal narcotics, illegally downloaded material (music, videos,
games, etc.), photocopies of copy written material (class workbook
included), etc.
COMPUTERS and LAPTOPS and the like are
not allowed to be used during class.
CELL PHONES
AND PAGERS:
Out of consideration for others, please turn your cell phone and pagers to
the silent mode. If they do not have a silent or vibratory mode, please
turn them off. These items tend to distract the other students when they
ring during class discussions or learning activities.
Cell phones must be turned off and put away during all tests and quizzes.
A student will not receive points should he/she not abide by this rule.
ACC 101 M/W Spring 2015 -
LATE WORK:
WRITTEN
ASSIGNMENTS:
CHEATING
POLICY:
5
No late work will be accepted.
All work is to be type written. No hand written assignments will be
accepted unless indicated by the instructor.
Cheating on any assignment will earn student zero points for the
assignment. Student will be subject to the policies of Orange Coast
College for further disciplinary action. Academic dishonesty will not be
tolerated.
GRADING SCALE
POINTS STRUCTURE
A
B
C
D
F
900 to 1000 points
800 to less than 900 points
700 to less than 800 points
600 to less than 700 points
less than 600 points
-4 Exams totaling 910 points* (each chapter is worth approx. 70 points)
-90 points for attendance**
* Make up exam can be arranged, however, students points on the exam will be reduced by 20%
of the points earned on the first make up and 30% on additional makeups. Makeup exams are
designed to be more difficult and are only for students who did not take an exam on the
designated day for a legitimate reason. Makeup exams are not for students who want to replace a
grade on an exam they have taken.
** Do not miss more than 3 classes to receive the 90 points. No points will be earned for missing
more than 3 classes. Attendance is taken at random times during the class session. Not being
present at that time results in an absence.
ACC 101 M/W Spring 2015 -
Week 1
Week 2
Week 3
Week 4
Week 5
Week 6
Week 7
Week 8
Week 9
Week 10
Week 11
Week 12
Week 13
Week 14
Week 15
Week 16
Week 17
Monday, February 02, 2015
Wednesday, February 04, 2015
Monday, February 09, 2015
Wednesday, February 11, 2015
Monday, February 16, 2015
Wednesday, February 18, 2015
Monday, February 23, 2015
Wednesday, February 25, 2015
Monday, March 02, 2015
Wednesday, March 04, 2015
Monday, March 09, 2015
Wednesday, March 11, 2015
Monday, March 16, 2015
Wednesday, March 18, 2015
Monday, March 23, 2015
Wednesday, March 25, 2015
Monday, March 30, 2015
Wednesday, April 01, 2015
Monday, April 06, 2015
Wednesday, April 08, 2015
Monday, April 13, 2015
Wednesday, April 15, 2015
Monday, April 20, 2015
Wednesday, April 22, 2015
Monday, April 27, 2015
Wednesday, April 29, 2015
Monday, May 04, 2015
Wednesday, May 06, 2015
Monday, May 11, 2015
Wednesday, May 13, 2015
Monday, May 18, 2015
Wednesday, May 20, 2015
Monday, May 25, 2015
Wednesday, May 27, 2015
Schedule and point system subject to change.
Chapter 1
Chapter 1
Chapter 2
Chapter 2
Holiday
Chapter 3
Chapter 3
Exam 1 (210 points)
Chapter 4
Chapter 4
Chapter 5
Chapter 5
Chapter 6
Chapter 6
Chapter 7
Exam 2 (280 points)
Spring Break
Spring Break
Chapter 8
Chapter 8
Chapter 9
Chapter 9
Chapter 11
Chapter 11
Exam 3 (210 points)
Chapter 10
Chapter 10
Chapter 12
Chapter 12
Chapter 13
Chapter 13
Exam 4 (210 points)
Holiday
Reflection
Assignment
6
Intro to Financial Statements
Intro to Financial Statements
Classified Balance Sheet
Classified Balance Sheet
Journal Entries
Journal Entries
Adjusting Entries
Adjusting Entries
Merchandise Inventory
Merchandise Inventory
Inventory Costing
Inventory Costing
Internal Controls
Receivables
Receivables
Non-Current Assets / Depreciation
Non-Current Assets / Depreciation
Stockholders' Equity
Stockholders' Equity
Liabilities
Liabilities
Cash Flow Statement
Cash Flow Statement
Financial Statement Analysis
Financial Statement Analysis