Huntingdon College
W. James Samford, Jr. School of Business and Professional Studies
Course Number: ACT 201
Course Name: Foundations of Accounting I
Term Session: Summer 2015 Session: Session I Location: Montgomery
Date-Time: Tuesday 5:30pm-9:30pm May 5, 12, 19, 26, June 2, 2015
INSTRUCTOR:
Hal Harris, Jr.
CONTACT INFORMATION: hal.harris@huntingdon.edu or (205) 979-3000 (cell)
Class Website - http://www.halharris.com/hc/
COURSE DESCRIPTION: the fundamental principles of financial accounting. Class is an introduction to the
process of accumulating, classifying and presenting financial information.
PREREQUISITES: none
TEXT REQUIRED: Warren, Carl W., Reeve, James M., and Duchac, Jonathan E.: Accounting, (see
Huntingdon College booklist for current edition and ISBN)
If you purchase your text from a source other than Huntingdon, you are required to also purchase the
CengageNOW Access Code for Warren/Reeve/Duchac's Accounting. Visit the following URL to enroll:
http://login.cengagebrain.com/course/E-TWQN3H33PHTYF
Note: For Summer 2015, you will need to use the older version of CengageNow (not version 2).
All homework will be submitted through CengageNOW, no exceptions.
COURSE LEARNING OUTCOMES: At the completion of this course, students are expected to
competently:
1. Understand accrual basis of accounting and underlying concepts.
2. Analyze and journalize basic accounting transactions involving cash, receivables and payables.
3. Make adjustments and prepare an adjusted trial balance.
4. Prepare Balance Sheet, Income Statement and Statement of Owners Equity.
5. Demonstrate an understanding of the Accounting Cycle.
6. Analyze and journal transactions of a Merchandising Company (Sales, Purchases and Inventory).
7. Calculate inventory values under acceptable cost methods.
8. Understand importance of internal controls.
9. Prepare Bank reconciliation for cash.
10. Analyze and journalize transactions involving receivables, allowance methods, fixed assets and
depreciation methods.
COURSE ASSIGNEMNTS & GRADING CRITERIA:
Grading Elements:
Percentage:
Final Exam (Week 5)
32%
Chapter Quizzes
32%
Quiz #1 Chapters 1 & 2 Week #2 (50 pts)
Quiz #2 Chapters 3, 4, 5 Week #3 (50 pts)
Quiz #3 Chapters 6, 7, 8 Week #4 (50 pts)
Quiz #4 Chapters 9 & 10 Week #5 (50 pts)
Chapter Homework Problems (due weeks 1-4, 100pts)
19%
Continuing Problem, page 317-318 (due Week #5)
16%
TOTAL
100%
Points:
200
200
120
100
620
GRADE POINT EQUIVALENTS:
A= 90-100
B=80-89
C=70-79
D=60-69
F=59-below
ATTENDENCE POLICY:
Absences and Tardiness - All students are required to attend the first session. Those who do not attend the first
session will be automatically dropped form the course. Students with more than one absence will receive an
"F" for the course. Since this class meets only five times, missing a single class meeting is equivalent to
missing three weeks of a regular term. If you cannot attend a class you must let the instructor know via email
as soon as possible. Incase of absence you are responsible for obtaining all handouts an assignments.
Tardiness may result in a deduction in your class participation grade. Excessive tardiness may count as an
absence.
Participation - Participation is not the same as attendance. Participation requires students to come to class
prepared to actively participate, which makes the classroom experience more meaningful.
Late Assignments - No shows fail the assignment. It is expected that the students fulfill their assignments on the date
they are scheduled to do so. Students with illness or other problems that prevent them from attending class on the day a
presentation or written assignment (including a test and/or exam) is due must contact their instructors PRIOR to the
deadline via Huntingdon College email with supporting documentation to request an extension or a make-up. In most
cases, missed assignments are logistically difficult to make-up while maintaining the integrity of the module. In rare
cases, approval to make-up an assignment may be granted at the discretion of the faculty member based on the
seriousness of the circumstance and on the supporting evidence provided by the student. Contacting a fellow class
member does not substitute for contacting the instructor.
Accommodation of Special needs - Huntingdon College makes every reasonable accommodation for disabilities that
have been processed and approved through our Disability Services Committee in accord with the Rehabilitation Act of
1973 and the Americans with Disabilities Act of 1990. In order to request disability-related services at Huntingdon
College, students must self-identify to the Disabilities Intake Coordinator, Camilla Irvin, and provide appropriate and upto-date documentation to verify their disability or special needs. After the accommodations have been approved by the
Disability Services Committee, the 504 Coordinator, Dr. Lisa Olenik Dorman, will notify your professor(s) of the
committee’s decision. If you have any questions regarding reasonable accommodation or need to request disability-related
services, please contact Disability Services at (334) 833-4577 or e-mail at disabilityservices@huntingdon.edu.
Academic Honesty - plagiarism is literary theft. Failure to cite the author of any language or of any ideas
which are not your own creation is plagiarism. This includes any text you might paraphrase, as well. It is not
consistent with the College Honor Code, or with scholarly expectations to submit work which is not the product
of your own thinking and research. Severe penalties will result upon the submission of any work found to be
plagiarized, including potential failure of the entire course. It is easy and simple to properly cite all sources
used in your paper. Take no risk - cite your sources.
First Night Assignment - A first Class Assignment is due Week One.
CLASS SCHEDULE:
Week 1:
Reading Assignment
Chapter 1: Introduction to Accounting and Business
Chapter 2: Analyzing Transactions
Chapter Homework Problem Assignments Due BEFORE class begins (20 points)
Chapter 1: Ex1-8, Ex1-16, Ex1-17, Ex1-18, Ex1-19, PR1-1A, PR1-2A
Chapter 2: Ex2-4, Ex2-6, Ex2-7, PR2-1A, PR2-2A
Week 2:
In Class Quiz #1 (Chapters 1 & 2)
Reading Assignment
Chapter 3: The Adjusting Process
Chapter 4: Completion of the Accounting Cycle
Chapter 5: Accounting Systems
Chapter Homework Problem Assignments Due BEFORE class begins (36 points)
Chapter 3: Ex3-3, Ex3-6, Ex3-8, Ex3-18, Ex3-19, PR3-3A
Chapter 4: Ex4-2, Ex4-3, Ex4-6, Ex4-10, Ex4-14, Ex4-18, PR4-2A
Chapter 5: Ex5-4, Ex5-7, Ex5-9, PR5-1A
Week 3:
In Class Quiz #2 (Chapters 3, 4, 5)
Reading Assignment
Chapter 6: Accounting for Merchandising Business
Chapter 7: Inventories
Chapter 8: Sarbanes Oxley, Internal Control and Cash
Chapter Homework Problem Assignments Due BEFORE class begins (36 points)
Chapter 6: Ex6-1, Ex6-5, Ex6-8, Ex6-14, Ex6-15, PR6-3A
Chapter 7: Ex7-3, Ex7-4, Ex7-8, Ex7-10, Ex7-11
Chapter 8: Ex8-12, Ex8-18, Ex8-19, Ex8-24, PR8-3A
Week 4:
In Class Quiz #3 (Chapters 6, 7, 8)
Reading Assignment
Chapter 9: Receivables
Chapter 10: Fixed Assets and Intangible Assets
Chapter Homework Problem Assignments Due BEFORE class begins (28 points)
Chapter 9: Ex9-4, Ex9-6, Ex9-11, Ex9-20, Ex9-22, Ex9-23
Chapter 10: Ex10-3, Ex10-13, Ex10-17, PR10-2A
CONTINUING PROBLEM (100 Points) Pages 317-318 – Due before class begins Week #5.
Week 5:
In Class Quiz #4 (Chapters 9, 10)
COMPREHENSIVE FINAL EXAM
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