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m o d e l
instructor version
evening classes
ACCT 111
Accounting 1
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Cover
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learning
outcomes
Benedictine Hallmarks 2011-2012
STABILITY  STEWARDSHIP
IDEA
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course syllabus
Addresses the educational
needs of adult students by
developing and providing
engaging, relevant and
accelerated programs.
blended model
ACCT 111
Enhances scholarship,
leadership skills, social
responsibility, and promotes
life-long learning.
Provides high-quality, easily
accessible educational
opportunities for adult
learners.
Enables adults to earn
specific undergraduate and
graduate degrees while
maintaining their personal and
professional commitments.
Accounting 1
instructor version
Develops new degree and
non-degree programs that
address the expressed needs of
the professional community.
content links index
about this document
about Moser College
about blended learning
hallmarks of a Benedictine education
student expectations
attendance policy
financial aid
submission of work
library resources
services for students with disabilities
Academic Honesty Policy
APA formatting and style
netiquette
course overview
required textbooks
grading scale
IDEA objectives
IDEA description
learning outcomes
course schedule
Moser College Mission
Statement: Moser College
embodies the values of respect,
excellence, collaboration, and
professionalism. We are
committed to delivering
innovative and dynamic
programs designed for adult
students who are dedicated to
enhancing their professional,
local, and global communities.
Moser College Vision
Statement: To be one of the
premier university colleges in
the nation.
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience
Discipline  Humility  Stewardship  Hospitality  Community
Benedictine
University
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about
expectations
Margaret and Harold Moser Center
1832 Centre Point Circle
Naperville, IL 60563
resources
course
overview
learning
outcomes
Phone: (630)schedule
829-6289&
IDEA
sessions
Fax: (630) 829-1375
http://www1.ben.edu/programs/a
dult_cohorts/mission_vision.asp
2
Content Links
ACCT 111 | Accounting 1
About Your Program at Benedictine University – Moser College
About This Document
This is a hypermedia document – it has been built to mimic navigation on the
web. This document can also be viewed as a presentation or it can be printed
like a traditional document. We use this sort of document because it allows for
navigation links (hyperlinks) to text, graphics, audio/video, and the web. This
type of document also allows you to navigate in a nontraditional, nonlinear way
– by following the page links you are not bound to read or flip through the
document in any sort of order. This is yet another example of Moser College’s
commitment to advancements in technology and blended learning.
About Moser College
The Moser College of Adult & Professional Studies delivers its curricular
programs in a specifically designed structure deliberately oriented for working,
adult learners. The Moser College is committed to providing a learning
environment which extends beyond the classroom and is designed specifically
to meet the needs of its students and their employers by bringing a quality
educational experience without requiring the student to relocate or travel
extensively beyond their home area. Benedictine University's Moser College of
Adult & Professional Studies is fully accredited by the Higher Learning
Commission of the North Central Association of Colleges and Schools*.
* http://www.ben.edu/academic_programs/moser/about/index.cfm
About Blended Learning
Blended learning is the integration of different learning environments: mainly the
online format with the face-to-face format, but may also include mobile learning.
Blended learning, also referred to as hybrid learning, relies on both the advantages
of digital/technology innovation and the methods of face-to-face instruction. At
Moser College, we use blended learning by combining asynchronous online
classroom sessions with a face-to-face classroom environment. We alternate
between the online session and the face-to-face session in 5-week courses, with
the A session being face-to-face and the B session being online.
hallmarks of a Benedictine Education:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
3
About
ACCT 111 | Accounting 1
The Ten Hallmarks of a Benedictine Education
A Benedictine Education
Based on the Rules of Saint Benedict, a Benedictine
Education is based on the Benedictine Wisdom
Tradition that sets as its goals the transformation of the
Human mind AND Heart and has at its foundation “The
Ten Hallmarks of a Benedictine Education”.
The Ten Hallmarks
Each academic year Moser College will be celebrating
two of the Hallmarks. This academic year 2011-2012,
the Hallmarks Stability and Stewardship have been
chosen. The ten hallmarks are:
1. Love of Christ and Neighbor
2. Prayer: a Life marked by liturgy, lection and
Mindfulness
3. Stability: commitment to the daily life of this place,
its heritage and tradition
4. Conversatio: the way of formation and
transformation
5. Obedience: a commitment to listening and
consequent action
6. Discipline: a way toward learning and freedom
7. Humility: knowledge of self in relation to God,
others and creation
8. Stewardship: responsible use of creation, culture
and the arts
9. Hospitality: openness to others
10. Community: call to serve the common good
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Portrait (1926) by Herman Nieg
(1849–1928); Heiligenkreuz Abbey, Austria
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
4
Hallmarks
ACCT 111 | Accounting 1
Student Expectations
Expectations of Students
In order to get the maximum use of the time available, it is expected that you
will:
•
Read the material to be covered in the class and complete required
assignments prior to attending the class/session;
•
Arrive/login to class/session prepared to participate actively;
•
Be prepared to actively participate in the collaborative activities of each
class/session; and
•
Always feel free to seek additional help from the instructor when the need
arises.
Attendance Policy
Students may not miss more than 25% of the live classroom sessions. Doing so
will result in an F for the course.
financial aid information
Submission of Work
All assignments are to be submitted into Desire 2 Learn (D2L) unless otherwise noted by instructor.
Assignments must be submitted by due date. Any assigned work submitted late for any unexcused
reason will receive a lowered grade. Please refer to your instructor’s late work policy located in D2L.
In the event that you miss an examination for due cause, arrangements must be made with the
instructor for a make-up examination. Important criteria concerning the submission of work:
•
Make-up examinations may differ from the original class examination.
•
Per University policy, assignments cannot be accepted by an instructor after the last day of the course.
•
Only discussions threads posted by 11:59 pm CST on the due date will count for grading purposes.
information concerning netiquette:
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
5
Expectations
ACCT 111 | Accounting 1
Financial Aid Information
Applying for Financial Aid
A college education is one of the largest financial investments a family will make. We believe that an education
from Benedictine University will provide valuable returns throughout a student's lifetime. The Office of Financial
Aid is dedicated to helping students and their families make a Benedictine University education affordable. We
view the process of financing an education as a partnership. Although the student and his/her family have primary
responsibility for meeting college costs, Benedictine University, as well as the federal and state governments have
a variety of financial aid programs available to students who need financial assistance.
Types of Financial Aid
Benedictine University's Office of Financial Aid administers a variety of federal, state
and institutional programs of student financial assistance. All financial aid recipients
must maintain satisfactory academic progress in accordance with the published,
"Satisfactory Academic Progress Policy for Financial Aid Recipients.“
•
After completing the financial aid application process, the student will receive a
financial aid award notification letter. The award letter will include the
program(s) that the student is eligible to receive and the award amount(s).
•
Grants/Scholarships - Grants and scholarships are considered to be gift
assistance. This means the awards do not have to be repaid.
•
Loans - Loans are considered to be a form of self-help assistance. Loan programs
provide funds for educational purposes and are paid back with interest.
•
Employment - Part-time jobs on campus are available to students through the
University and Federal Work-Study program. Students working on campus
receive a bi-weekly paycheck.
•
Applying for Financial Aid – All students applying for financial aid are asked to
complete the Free Application for Federal Student Aid (FAFSA).
FAFSA – Free Application for Federal Student Aid
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance.
It should be completed as soon as possible after January 1st. Applying online with FAFSA on the Web at
www.fafsa.gov is faster and easier than using a paper FAFSA. Have your completed U.S. Federal Income Tax
returns readily available when completing the FAFSA. Include Benedictine University's school code:
001767 so the results of your FAFSA application will automatically be sent to our financial aid office. Sign you
FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent
information, one parent must also sign you FAFSA.
home
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expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
6
Financial Aid
ACCT 111 | Accounting 1
About Netiquette
What is Netiquette?
"Netiquette" stands for "Internet Etiquette", and refers to the set of practices which help to make the online
experiences pleasant for all involved. As you might expect, netiquette, like other forms of etiquette, is about
courtesy, manners, codes of behavior, protocols and respect. Netiquette primarily focuses on how we interact with
one another online, by being aware of: our use of language, others’ cultural background, conventional norms, and
other behaviors. Below you will find guidelines concerning the basics of online interaction. If it isn’t something you
would say or do in the face-to-face classroom, it is probably inappropriate in the online class as well.
Netiquette Basics
1. Follow the Golden Rule (“One should treat others as one would like others to treat oneself”)
2. Be ethical, fair, tolerant and mindful of others – avoid stereotyping, judgment and prejudice
3. Know the boundaries of particular cyberspaces – what is acceptable in a text or chatroom with friends may
not be appropriate in a classroom or in an online conversation with an instructor
4. Respect the time of others by: 1) using descriptive subject lines, 2) resizing images for the web, 3) providing
links instead of copying and pasting content, 5) using white space by inserting blank lines between paragraphs
and headers and 6) limiting your use of attachments
5. Copy the minimum number of people – it is tempting to send “email” or “message blasts” because it is easier
for the poster, but it is not easier for the reader
Inappropriate Online Usage
1. Avoid “flaming” – flaming is sending offensive, insulting or criticizing messages. This happens more often
online then in face-to-face interaction, because there is an illusion of anonymity.
2. Flaming is neither productive nor appropriate for the learning environment
3. Always avoid flaming when it comes to content and opinions, but also avoid it when it comes to grammar,
punctuation and spelling corrections
4. Avoid using CAPS if possible and never type messages in ALL CAPS – this is considered yelling and is often
seen as a form of aggression
5. Use emoticons ( :) , :( , :-) ) sparingly and avoid the use of JK, BRB, LOL and other text language
Confidentiality and Privacy
1.
2.
3.
4.
Email, messaging and posting are forms of written record and are just as permanent as a letter or document
Do not publicize your own or others’ personal information (such as email, phone numbers, last names etc.)
Respect copyright and cite any and all sources
Do not expect that your communications are private, instead assume all communications are public
For more information please review Netiquette by Virginia Shea
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
7
Netiquette
ACCT 111 | Accounting 1
Resources for Success
Benedictine’s Library Resources
Benedictine University Libraries strive to provide the resources for all of your academic and research
needs. Providing access to over 120 databases, 200,000 books and eBooks, and helpful librarians 7
days a week, we are here to assist you in person and online.
The primary mission of the Benedictine University Library is to provide library resources and services
that support the Benedictine University community and meet its academic and research needs. To
support our mission, the Library has made provisions for all students to gain access to important
academic resources through the Benedictine Library Website. As you begin your academic journey
please take note of these key concepts that will affect that access:
•
Entry into academic databases and most Library resources must be made through the Benedictine
Library Website at www.ben.edu/library
•
Within one week of your official enrollment your patron information will be automatically entered
into the library system, where once entered, you will be able to check out books and access
databases
•
When off-campus you will be prompted by authentication software (a proxy server) to provide
your Library ID number and last name to access article databases and request books. This software
proxy server confirms that you are a current Benedictine University student and thus allowed
access
•
Your Library ID number is a combination of the Benedictine Library prefix 2281100 and your
seven-digit student ID number (also called your “b” number). Thus 2281100XXXXXXX is
the Library ID number with X’s being the seven digit student number. This number is prominently
located just below the barcode on your Benedictine ID card
•
For further information on any aspect of Library resources and access please call or write the
Benedictine Library Reference Desk at 630-829-6057 or libref@ben.edu. Please take note of
Library hours and staff directory located on the Library Website under About the Library and feel
free to contact us about any concern or need you might have
additional resources for student success:
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IDEA
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
8
Library
ACCT 111 | Accounting 1
Resources for Success
University Academic Honesty Policy
The search for truth and the dissemination of knowledge are the central missions of a university.
Benedictine University pursues these missions in an environment guided by our Roman Catholic
tradition and our Benedictine Heritage. Integrity and honesty are therefore expected of all University
students. Actions such as cheating, plagiarism, collusion, fabrication, forgery, falsification,
destruction, multiple submission, solicitation, and misrepresentation are violations of these
expectations and constitute unacceptable behavior in the University community.
To access the complete Academic Honesty Policy, which includes student responsibility, responsibility
and authority of faculty, violations, reporting and communicating, responsibilities of the provost,
appeals, composition of the academic appeals board, procedures of the academic appeals board, and
records, please select the following link: www.ben.edu/ahp
APA Formatting and Style
All course assignments must use APA citation and formatting. This is a
mandatory requirement for all assignments, including discussions, if a
publication or other work is being referenced. For more information on
APA, please see the APA Style section at the website of the American
Psychological Association, linked here: www.apa.org/
APA resources for students: www.apa.org/about/students.aspx
Services for Students with Disabilities
Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act (ADA) of 1990
prohibit discrimination against individuals with disabilities by standing provision of reasonable
accommodations to make programs and activities accessible to qualified individuals with disabilities.
If you have a documented learning, psychological, or physical disability, you may be eligible for
reasonable academic accommodations or services. To request accommodations or services, please
contact the Student Success Center, Krasa Center - 012A, 630-829-6340. All students are expected to
fulfill essential course requirements. The University will not waive any essential skill or requirement
of a course or degree program.
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
9
Other Resources
ACCT 111 | Accounting 1
Individual Development and Educational Assessment
IDEA Objectives
•
Acquiring skills in working with others as a member of a team.
•
Developing creative capacities (writing, inventing, designing,
performing in art, music, drama, etc.)
•
Gaining a broader understanding and appreciation of intellectual/
cultural activity (music, science, literature, etc.)
•
Developing skill in expressing oneself orally or in writing.
•
Learning how to find and use resources for answering questions or
solving problems.
•
Developing a clearer understanding of, and commitment to, personal
values.
•
Learning to analyze and critically evaluate ideas, arguments, and
points of view.
•
Acquiring an interest in learning more by asking questions and
seeking answers.
IDEA Description
The IDEA student survey focuses on the instructor’s learning objectives for the course and on the
progress each student made toward achieving those objectives. By answering thoughtfully and
honestly, your ratings and comments will be much more helpful – to the instructor, the department
chair, and the dean of the college. As students, you should also know that student ratings and
comments have been used to help evaluate courses and to improve the educational experience at
Benedictine University. The appropriate standard of conduct with respect to student surveys is
thoughtful comments and constructive criticism – respectfully communicated.
A Focus on Learning
“The IDEA Student Ratings system looks at instruction in terms of its endgame. Rather than
emphasizing teaching style or personality, the IDEA system focuses on student learning and the
methods used to facilitate it.” – from the IDEA website: www.theideacenter.org/node/5
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IDEA
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
10
IDEA
ACCT 111 | Accounting 1
Faculty Evening Course Overview
Course Description
The main focus of this course is on understanding the elements of the financial statements of a
company and being able to discern a company's financial performance and health. The course is not
intended to prepare students to become accountants, but rather it is to give them a working
understanding of what financial reporting requirements are for public companies. We will be focusing
on the balance sheet, income statement and statement of cash flows in varying degrees of depth. In
addition to being able to read and understand financial statements, financial analysis requires at least
a basic understanding of generally accepted accounting principles (GAAP).
Course Materials
Required Textbook and Materials:
- Horngren, Harrison, Oliver, Financial & Managerial Accounting 3rd edition. Pearson, 2012.
ISBN-13: 978-0-13-249799-2
Suggested Course Materials:
MyAccountingLab access from http://www.myaccountinglab.com
Technological Computer Requirements
Students in the Blended program will need: High-speed Internet access; a sound card and speakers;
Windows XP (minimum)/Windows 7 (recommended) or Mac OS X 10.5 or higher; and Firefox 3.6 or
higher. It is also highly recommended that students have access to a microphone or webcam for
optional audio/videoconferencing.
Discussion Forum Guidelines
The Course Grading Scale
A
=
4.00
90 - 100%
EXCELLENT
B
=
3.00
80 – 89%
GOOD
C
=
2.00
70 – 79%
SATISFACTORY
D
=
1.00
60 – 69%
PASS
F
=
0.00
BELOW 60%
FAIL
I
=
INC
INCOMPLETE
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resources
To receive a minimum passing grade, students must
make a post to each discussion question for that
week by day 4 of each week and respond to at least
two other postings by the end of the week. Individual
Posts are worth up to 5 points and the total
Response Posts are worth up to 5 points total. Each
discussion will total up to 10 points.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
11
Course Overview
ACCT 111 | Accounting 1
Faculty Evening Course Outcomes Based in Bloom’s Taxonomy
Learning Outcomes
Assignments
Points
•
•
•
•
Construct the Income Statement & Balance Sheet.
Elaborate on the different types of business organizations.
Explain the matching principle.
Develop and prepare journal transactions.
Individual chapter problems.
Individual chapter problems.
Discussion Post & Response.
Team Assignment/Activity.
10 pts
10 pts
5 pts
•
•
•
•
Illustrate T-accounts and examine their importance.
Analyze Cash-basis and Accrual Accounting.
Build Financial Statements, Income Statement & Balance Sheet.
Assess your knowledge – Quiz 1.
Individual chapter problems.
Discussion Post & Response.
Team Assignment/Activity.
Quiz 1 (Chapters 1-3).
10 pts
10 pts
5 pts
25 pts
•
•
•
•
Discuss LIFO & FIFO and interpret revenue recognition.
Outline internal controls and explain their importance.
Elaborate and formulate and opinion on the Sarbanes-Oxley Act.
Classify and elaborate on the importance of financial audits.
Individual chapter problems.
Individual chapter problems
Discussion Post & Response.
Team Assignment/Activity.
10 pts
10 pts
5 pts
•
•
•
•
Analyze and correct internal control weaknesses.
Discuss and contrast depreciation methods.
Classify depreciable assets and determine salvage values.
Assess your knowledge Quiz 2.
Individual chapter problems.
Discussion Post & Response.
Team Assignment/Activity.
Quiz 2 (Chapter 4-8).
10 pts
10 pts
5 pts
25 pts
•
•
•
•
Identify and account for long-term notes payable.
Calculate, illustrate and explain bond prices.
Analyze and examine the effects of stock issuance.
Assess your knowledge - Quiz 3
Individual chapter problems.
Discussion Post & Response.
Team Assignment/Activity.
Quiz 3 (Chap 9-12).
10 pts
10 pts
5 pts
25 pts
Total Points for course
200 pts
about Bloom’s Taxonomy
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
12
Learning Outcomes
ACCT 111 | Accounting 1
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
01 A
F2F
Accounting & Recording
Business Transactions and
the Adjusting process.
•
Accounting & Recording
Business Transactions and
the Adjusting process.
•
01 B
online
•
•
•
•
•
•
•
•
02 A
F2F
Completing the Accounting
cycle & Merchandising
Operations.
•
•
•
•
02 B
online
Completing the Accounting
cycle & Merchandising
Operations.
•
•
•
•
•
•
03 A
F2F
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Merchandising Inventory,
Internal Control & Cash
and Receivables.
expectations
resources
•
•
•
Reading assignment: review chapters 1-3 pages 1151.
Activity: Introduction to my accounting lab
Course expectations
Reading assignment: chap. 1-3 covered in class 1A.
Be prepared to discuss chap. 4-5 in class 2A.
Written Individual assignment:
Chap. 1 page 47, problem P1-29A, page 50 P1-36A.
Chap. 2 page 101 problem S2-1, page 108-109
problem E2-25 & E2-26
Chap. 3 page 168 problems S3-1 to S3-4. Page 184
problem P3-37A.
Written team Assignment: Chap. 2 page 129
Financial Statement Case 2-1.
Discussion topic: Learning Debits & Credits
Reading: chapters 4-5 pages 198-275.
Written assignment: review assigned problems.
Activity & team assignment: review homework
problems from prior week chapters 1-3.
Quiz 1: covering chapters 1-3.
Reading assignment: chap. 4-5 covered in class 2A.
Be prepared to discuss chap. 6-8 in class 3A
Written Individual assignment:
Chap. 4 page 232, problems S4-7 to S4-9. Page 238,
problem E4-23.
Chap. 5 page 293, problems P5-31A & P5-32A.
Written team assignment: chap. 4 page 252 team
project 4-1.
Discussion topic: Cash-basis & Accrual Accounting.
Reading assignment: chapters 6-8 pages 311-415
Written assignment: review assigned problems
Activity & team assignment: review quiz 1 and
homework problems from previous week chapters 45.
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
13
Course Schedule
ACCT 111 | Accounting 1
Faculty Evening Course Schedule
Session
Loc.
Class Title
Assignments
03 B
online
Merchandising Inventory,
Internal Control & Cash
and Receivables.
•
•
•
•
•
•
•
Reading assignment: chap. 6-8 covered in class 3A. Be
prepared to discuss chap. 9-10 in class 4A.
Written Individual assignment:
Chap. 6 page 344 problems E6-44 & E6-45.
Chap. 7 page 384 problems S7-1 to S7-5. page 391
problem P7-27A. Page 399 problem P7-40B.
Chap. 8 page 434 problems E8-14 & E8-16. Page 436
problem E8-23.
Written team assignment: chap. 8 page 447 Fraud Case
8-1
Discussion topic: Sarbanes-Oxley
04 A
F2F
Plant Assets &
Intangibles, Current
Liabilities and Payroll.
•
•
•
•
Reading assignment: chap. 9-10 pages 452-511.
Written assignment: review assigned problems
Quiz 2: covering chapters 4-8.
Activity & team assignment: review homework problems
from prior week chapters 6-8.
04 B
online
Plant Assets &
Intangibles, Current
Liabilities and Payroll.
•
Reading assignment: chap. 9-10 covered in class 4A. Be
prepared to discuss chap. 11-12 in class 5A
Written Individual assignment:
Chap. 9 page 487 problems P9-27A and page 489
problem 9-31A.
Chap. 10 page 517 problems S10-1 to S10-4. page 519
E10-8 to E10-11.
Written team assignment: chap. 9 page 494, Financial
Statement Case 9-1.
Discussion topic: Depreciation
•
•
•
•
•
05 A
F2F
Classification of Liabilities
on the Balance Sheet and
Paid-In Capital.
•
•
•
Reading assignment chap. 11-12 pages 529-600.
Written assignment: review assigned problems
Activity & team assignment: review quiz 2 and
homework from prior class chapters 9-10.
05 B
online
Classification of Liabilities
on the Balance Sheet and
Paid-In Capital.
•
•
Reading assignment: chap. 11-12 pages 529-600.
Written Individual assignment: chap. 11 page 553
problems S11-1 to S11-4
Quiz 3 covering chapters 9-12.
Written team assignment: chap. 11 page 578 S11B-1 &
S11B-2.
Discussion topic: Bonds
•
•
•
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Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
14
Course Schedule
ACCT 111 | Accounting 1
Faculty Evening Session 1A
Learning Objectives
1. Explain the accounting profession and the organizations that govern it.
2. Identify the characteristics of a corporation.
3. Apply accounting concepts and principles.
4. Summarize the accounting equation and define assets, liabilities and equity.
5. Prepare financial statements.
6. Classify accounts, journals and ledgers as they relate to recording transactions.
7. Match debits, credit and normal account balances and use double entry accounting & T-accounts.
8. Illustrate journal and post sample transactions to the ledger.
9. Differentiate between accrual and cash-basis accounting.
10. Define and apply revenue recognition.
11. Explain why adjusting entries are needed.
Activities, Assignments and Agenda
Reading:
No pre-class reading, this will be completed after class 1A.
Chapters 1-3 will be reviewed.
Individual Assignments
Reading, individual and team questions are assigned after class 1A.
Study Group Assignments
Reading, individual and team questions are assigned after class 1A.
In Class Assignments
Review and set course expectations including introducing my accounting lab.
Introduce and demonstrate Accounting to students while encouraging and easing their fears regarding
a potentially difficult subject.
Facilitate an in-class discussion reviewing chapters 1-3 relating to accounting, recording business
transactions and the adjusting process.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
15
Session 1A
ACCT 111 | Accounting 1
Faculty Evening Session 1B
Learning Objectives
1. Participate in the weekly discussion question and subsequent forum threads to enhance the
learning experience.
2. Complete the group activity assignment.
3. Analyze accounting and how it applies to your current employment position and your daily life.
4. Apply the material in chapter 1-3 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of economics and how
you believe the interaction can benefit everyone involved.
Activities, Assignments and Agenda
Reading:
Review chapters 1-3 that were covered in class 1A.
Read chapters 3-4, these will be reviewed in-class during week 2A.
Individual Assignments
Chap. 1 problems P1-29A (page 47) & P1-36A (page 50).
Chap. 2 problem S2-1 (page 101), problem E2-25 & E2-26 (page 108 & 109).
Chap. 3 problems S3-1 to S3-4 (page 168), problem P3-37A (page 184).
Study Group Assignments
Chap. 2, Financial Statement Case 2-1 page 129.
Discussion Question:
Accounting is very similar to many mathematic concepts as it builds upon concepts day after day
displaying a need for a solid foundation. Therefore how would you articulate debit and credits to a
beginning accounting student? Be specific with your answers.
Peer Response Post:
Respond to students posts engaging in a virtual conversation regarding this weeks topics.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
16
Session 1B
ACCT 111 | Accounting 1
Faculty Evening Session 2A
Learning Objectives
1. Build a worksheet to prepare financial statements.
2. Organize revenue, expense and dividend accounts.
3. Classify assets and liabilities as current or long-term..
4. Determine the effect of various transactions on the current ratio and the debt ratio.
5. Choose the three ratios to help decision making.
6. Analyze the perpetual and periodic inventory systems
7. Discuss the inventory cycle.
8. Prepare a merchandiser’s financial statement.
Activities, Assignments and Agenda
Reading: Chapters 4-5 pgs 198-275, completing the accounting cycle & merchandising operations.
Individual Assignments
Quiz 1 covering chapters 1-3.
Read and review chapter 4-5 for class discussion.
Individual chapter problems
Study Group Assignments
Team problems
In Class Assignments:
Facilitate a review of individual and team homework/questions from chapter 1-3. Ensure all questions
are answered before moving to the next topic. The fundamentals of accounting are extremely
important in the students learning process.
Lead a discussion on Chapter 4-5, completing the accounting cycle & merchandising operations.
Facilitate a conversation regarding the previous week’s discussion question to further the students
understanding of the week’s material.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
17
Session 1A
ACCT 111 | Accounting 1
Faculty Evening Session 2B
Learning Objectives
1. Participate in the weekly discussion question and subsequent forum threads to enhance the
learning experience.
2. Complete the group activity assignment.
3. Construct a financial worksheet and use accounting ratios to help analyze financial strength.
4. Apply the material in chapters 4-5 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of economics and how
you believe the interaction can benefit everyone involved.
Activities, Assignments and Agenda
Reading: chapters 6-8 will be reviewed in-class during week 3A.
Individual Assignments
Chap. 4 problems S4-7 to S4-9 (page 232), problem E4-23 (page 238).
Chap. 5 problems P5-31A & P5-32A (page 293).
Study Group Assignments
Chap. 4 Team Project 4-1 page 252.
Discussion Question:
This week we contrasted the accrual and cash-basis accounting methods. Both are utilized in owner
managed businesses today. List several advantages why some small corporations would select one
of these methods over the other. Do you believe that one misrepresents the actual financial picture of
a business? Explain your position.
Peer Response Post:
Respond to students posts engaging in a virtual conversation regarding this weeks topics.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
18
Session 1B
ACCT 111 | Accounting 1
Faculty Evening Session 3A
Learning Objectives
1. Compare inventory costing methods.
2. Account for perpetual inventory using the three most common costing methods.
3. Contrast the effects of the three most common inventory costing methods.
4. Apply the lower-of-cost-or-market rule to inventory.
5. Measure the effects of inventory errors.
6. Define internal control.
7. Explain the Sarbanes-Oxley Act
8. Demonstrate the components of internal control and control procedures.
9. Classify the use of a bank account as a control device.
10. Model a bank reconciliation and journalize the related entries.
11. Define and explain common types of receivables and review internal controls for receivables
12. Outline the allowance method to account for uncollectibles.
13. Explain the direct write-off method for uncollectibles.
14. Illustrate the journalize credit card and debit card sales.
Activities, Assignments and Agenda
Reading:
Chapter 6-8 pages 311-415, merchandising inventory, internal control & cash and receivables.
Individual Assignments
Read and review chapter 6-8 for class discussion.
Individual chapter problems
Study Group Assignments
Study team problems
In Class Assignments
Review Quiz 1 that was taken in Class 2A. Facilitate a review of individual and team
homework/questions from chapter 4-5. Ensure students understand any areas that challenged them.
It’s critical that students grasp the fundamentals before moving to new topics.
Lead a discussion on Chapter 6-8, merchandising inventory, internal control & cash and receivables.
Facilitate a conversation regarding the previous week’s discussion question to further the students
understanding of the week’s material.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
19
Session 1A
ACCT 111 | Accounting 1
Faculty Evening Session 3B
Learning Objectives
1. Participate in the weekly discussion question and subsequent forum threads to enhance the
learning experience.
2. Complete the group activity assignment.
3. Formulate an opinion on Sarbanes-Oxley.
4. Elaborate on the major differences between LIFO and FIFO.
5. Apply the material in chapters 6-8 to assist in the discussion with your current group.
6. Actively engage your fellow students by sharing your existing knowledge of statistics and how you
believe the interaction can benefit everyone involved.
Activities, Assignments and Agenda
Reading: chapters 9-10 will be reviewed in-class during week 4A.
Individual Assignments
Chap. 6 problem E6-44 & E6-45 (page 344).
Chap. 7 problems S7-1 to S7-5 (page 384), problem P7-27A (page 391), problem P7-40B (page 399).
Chap. 8 problems E8-14 & E8-16 (page 434) & E8-23 (page 436
Study Group Assignments
Chap. 8 Fraud Case 8-1 page 447.
Discussion Question:
The Sarbanes-Oxley Act (SOX) was enacted after several accounting irregularities. Has this act had
its desired outcome as it was originally intended? Did this act go far enough? If not what would you
add to make it better? If it does, what do you believe is its best feature?
Peer Response Post:
Respond to students posts engaging in a virtual conversation regarding this weeks topics.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
20
Session 1B
ACCT 111 | Accounting 1
Faculty Evening Session 4A
Learning Objectives
1. Measure the cost of a plant asset.
2. Account for depreciation, natural resources and intangible assets.
3. Describe ethical issues related to plant assets.
4. Identify and account for current liabilities of known amount.
5. Demonstrate and account for current liabilities that must be estimated.
6. Calculate payroll and payroll tax amounts.
7. Illustrate basic payroll transactions.
8. Explain the importance of contingent liabilities.
9. Examine internal controls over payroll.
Activities, Assignments and Agenda
Reading: Chapters 9-10 pages 452-511, plant assets & intangibles, current liabilities and payroll.
Individual Assignments
Quiz 2 covering chapters 4-8
Read and review chapter 9-10 for class discussion.
Individual chapter problems
Study Group Assignments
Team problems
In Class Assignments
Facilitate a review of individual and team homework/questions from chapter 6-8. Ensure students
understand any areas that challenged them. It’s critical that students grasp the fundamentals before
moving to new topics.
Lead a discussion on Chapter 9-10, plant assets & intangibles, current liabilities and payroll.
Facilitate a conversation regarding the previous week’s discussion question to further the students
understanding of the week’s material.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
21
Session 1A
ACCT 111 | Accounting 1
Faculty Evening Session 4B
Learning Objectives
1. Participate in the weekly discussion question and subsequent forum threads to enhance the
learning experience.
2. Complete the group activity assignment.
3. Analyze the different depreciation methods and there affect on the income statement.
4. Apply the material in chapter 9-10 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you
believe the interaction can benefit everyone involved.
Activities, Assignments and Agenda
Reading: chapters11-12 will be reviewed in-class during week 5A.
Individual Assignments
Chap. 9 problem P9-27A (page 487), problem P9-31A (page 489).
Chap. 10 problems S10-1 to S10-4 (page 517) & E10-8 to E10-11 (page 519).
Study Group Assignments
Chap. 9 Financial Statement Case 9-1 page 494.
Discussion Question:
This week we learned about several different methods of depreciation. Explain the impact of each of
these as they relate to the Income Statement and Balance Sheet. Should there, in your opinion, be
only one method? If so which would you support and why?
Peer Response Post:
Respond to students posts engaging in a virtual conversation regarding this weeks topics.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
22
Session 1B
ACCT 111 | Accounting 1
Faculty Evening Session 5A
Learning Objectives
1. Describe the two sources of stockholders’ equity and the classes of stock.
2. Outline & jounalize the issuance of stock and prepare the stockholders equity on a balance sheet.
3. Illustrate retained earnings transactions.
4. Explain and account for cash dividends.
5. Explain the different stock values in decision making.
6. Evaluate return on assets and return on shareholders equity.
7. Account for the income tax of a corporation.
8. Compare issuing bonds to issuing stocks.
Activities, Assignments and Agenda
Reading: Chapters 11-12 pages 529-600, classification of liabilities on the balance sheet and paid-in
capital.
Individual Assignments
Read and review chapter 11-12 for class discussion.
Individual chapter problems
Study Group Assignments
Team problems
In Class Assignments
Review Quiz 2 and individual and team homework/questions from chapter 9&10. Ensure students
understand any areas that challenged them. It’s critical that students grasp the fundamentals before
moving to new topics.
Lead a discussion on Chapter 11-12, classification of liabilities on the balance sheet and paid-in
capital.
Facilitate a conversation regarding the previous week’s discussion question to further the students
understanding of the week’s material.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
23
Session 1A
ACCT 111 | Accounting 1
Faculty Evening Session 5B
Learning Objectives
1. Participate in the weekly discussion question and subsequent forum threads to enhance the
learning experience.
2. Complete the group activity assignment.
3. Illustrate the difference in bonds and how they are accounted for.
4. Apply the material in chapter 11-12 to assist in the discussion with your current group.
5. Actively engage your fellow students by sharing your existing knowledge of statistics and how you
believe the interaction can benefit everyone involved.
Activities, Assignments and Agenda
Reading: review chapters 11-12
Individual Assignments
Quiz 3 covering chapters 9-12.
Chap. 11 problems S11-1 to S11-4 (page 553).
Study Group Assignments
Chap. 11 S11B-1 & S11B-2 page 578.
Discussion Question:
Bonds can be a very challenging topic for many individuals. This week we outlined their
characteristics and how to account for them in journal entries. How would you explain bonds to a new
accounting student? Be specific with your answers.
Peer Response Post:
Respond to students posts engaging in a virtual conversation regarding this weeks topics.
home
about
expectations
resources
course
overview
learning
outcomes
IDEA
schedule &
sessions
Love of Christ and Neighbor  Prayer  Stability  Conversatio  Obedience  Discipline  Humility  Stewardship  Hospitality  Community
24
Session 1B