COURSE SECTION INFORMATION
Jerry Aubin
ACC2310 Accounting Concepts I
Business Admin-Accounting
Professor’s Name:
Jerry Aubin
Course
Number:
ACC2310
Email:
aubinj1@algonquincollege
.com
Course
Section: 010
Phone: X5737
Academic
Year: 2010
Office: B423C
Out of Class
Assistance: Refer to BB
Term: 01
Academic
Level: 01
Section Specific Learning Resources
The textbooks for this course are the same as those listed in the approved course outline available on
Blackboard.
Learning Schedule
ACC2310 – ACCOUNTING CONCEPTS I
© Algonquin College 1 ACC2310
ACC2310 – ACCOUNTING CONCEPTS I
CHAPTER TOPIC TIME
1. Accounting: The Key to Success 3.0 HOURS
Complete chapter covered
OBJECTIVES
1. Explain the meaning of accounting.
2. Forms of business organizations.
3. Users of accounting information
4. Understand why ethics is a fundamental business concept.
5. Understand the various types of accountants and their roles in business.
Homework
Exercises: 1-1, 1-2, 1-5
Problem 1-1A
2. FINANCIAL STATEMENTS AND ACCOUNTING TRANSACTIONS 6.0 HOURS
Complete chapter covered
OBJECTIVES
1. Identify and explain the content and reporting aims of financial statements
2. Identify, explain, and apply accounting principles.
3. Explain and interpret the accounting equation
4. Analyze business transactions using the accounting equation.
5. Prepare financial statements
Homework
Quick Study: 2-2, 2-3, 2-11, 2-13
Exercises: 2-3, 2-4, 2-5, 2-6, 2-7, 2-8, 2-12
Problems: 2-2A, 2-2B
Ethics: EC2-1
3. ANALYZING AND RECORDING TRANSACTIONS 7.5 HOURS
Complete chapter covered
OBJECTIVES
1. Explain the accounting cycle.
2. Describe an account, its use, and its relationship to the ledger
3. Define debits and credits and explain their role in double-entry accounting.
4. Analyze the impact of transactions on accounts.
5. Record transactions in a journal and post entries to t-accounts.
6. Explain the use of a trial balance.
Homework:
Exercises: 3-1, 3-3, 3-6, 3-8, 3-12, 3-17
Problems: 3-1A, 3-2A, 3-3A, 3-6A (part 1 only), 3-9A (part 1 only), 3-12A © Algonquin College 2
ACC2310
ACC2310 - ACCOUNTING CONCEPTS I
CHAPTER TOPIC TIME
4. ADJUSTING THE ACCOUNTS 6.0 HOURS
Complete chapter covered, excluding Appendix
OBJECTIVES
1. Apply the timeliness principle, revenue recognition and matching principles.
2. Prepare adjusting entries at the end of the accounting
period.
3. Explain how accounting adjustments link to the financial statements.
Homework
Quick study: 4-3, 4-4, 4-5, 4-6, 4-7
Exercises: 4-1, 4-2, 4-3, 4-4
Problems: 4-1A, 4-2A, 4-3A, 4-4A, 4-5A, 4-7A, 4-8A, 4-9A
9. INTERNAL CONTROL AND CASH 6.0 HOURS
Complete chapter covered
OBJECTIVES
1. Define and identify the principles of internal control.
2. Apply internal control principles to cash receipts and disbursements.
3. Prepare a bank reconciliation.
Homework
Exercises: 9-1, 9-2, 9-3, 9-4,9-10, 9-11
Problems: 9-1A, 9-2A, 9-4A, 9-5A, 9-8A
Ethics case: EC9-1
5. COMPLETION OF THE ACCOUNTING CYCLE 6.0 HOURS
Omit using a worksheet
Omit the Appendices
OBJECTIVES
1. Demonstrate the process of closing the books.
2. Identify the sections of a classified balance sheet.
3. Prepare a classified balance sheet.
Homework
Exercises: 5-6 (entries only), 5-7, 5-8, 5-9, 5-15, 5-16
Problems: 5-4A, 5-7A, 5-12A
Ethics: EC5-1 © Algonquin College 3 ACC2310
ACC2310 - ACCOUNTING CONCEPTS I
CHAPTER TOPIC TIME
6. ACCOUNTING FOR MERCHANDISING OPERATIONS 7.5 HOURS
Omit Appendix A
Omit worksheets
Omit closing entries
OBJECTIVES
1. Identify the components in measuring net income in a
merchandising company.
2. Calculate ending inventory and cost of goods sold under
the perpetual inventory system.
3. Identify the unique features of a merchandiser’s income
statement.
4. Record Sales Taxes for a merchandising company—perpetual system (Appendix B)
5. Calculate inventory ratios
Homework
Exercises: 6-1, 6-2, 6-3, 6-4, 6-5, 6-10, 6-29
Problems: 6-1A, 6-2A, 6-3A, 6-9A, 6-16A, 6-16B
In order to achieve a passing grade in this course , you
must achieve a weighted average of 50% on the unit tests.
Unless you achieve this grade, your assignment marks will not
count towards your final mark.
Missed unit tests If you miss a unit test for a valid reason (with
supporting documentation), you will have the opportunity to write a
make up test At a time to be determined. © Algonquin College 4 ACC2310
ACCOUNTING CONCEPTS I ACC2310 -Fall 2009
COURSE SCHEDULE - Subject to change
Week
1
1
2
Dates
Sept 13-17
Sept 13-17
3
Sept 20-24
Unit Test 1 (10%)
4
4
Resources
HRS
Sept 6-10
Sept 6-10
2
3
TOPIC
Sept 20-24
Sept 27-Oct 1
Sept 27-Oct1
5
Oct 4-8
5
Oct 4-8
6
Oct 11-15
6
Oct 11-15
7
Oct 18-22
7
Oct 18-22
Labour day
What is
chapter 1
Accounting
Financial
chapter 2
1.5
Statements
Financial
chapter 2
Statements
Financial
chapter 2
Statements
F/S, The
chapter 2,3
1.5
Recording
Process
The Recording
chapter 3
Process
The Recording chapter 3
1.5
Process
The Recording
chapter 3
Process
The Recording
chapter 3
Process
Thanksgiving/
Chapter 4
1.5
Adjusting the
Accounts
Unit test
chapter ,3
1.5
Adjusting the
Accounts
Adjusting the
Accounts
Tests/
Evaluations
1.5
1.5
Lyryx # 1
1.5
1.5
Lyryx #2
1.5
Lyryx #3
1.5
1.5
Lyryx # 4
Unit test 2ch.,3 (15%)
chapter 4
1.5
chapter 4
1.5
8
8
9
9
10
10
11
11
12
12
13
13
14
14
TOTAL HOURS
Oct 25-29
Adjusting the
chapter 4
Accounts
Oct 25-29
UT, Internal
ch.4, ch.9
Control &
Cash
Nov 1-5
Internal Control &
Cash
Nov 1-5
Internal Control &
Cash
Nov 8-112
Internal
chapter 9
Control &
Cash
Nov 8-12
UT, Complete
ch.9, ch.5
the
accting.cycle
Nov 15-219
Complete the
accting.cycle
Nov 15-19
Complete the
accting.cycle
Nov 22-26
Complete the
accting.cycle
Nov 22-26
Merchandising chapter 6
Ops.
Nov 29-Dec 3
Merchandising
Ops.
Nov 29-Dec 3
Merchandising
Ops.
Dec 6-10
Merchandising
Ops.
Dec 6-10
Merchandising chapter 6
Ops.
42
1.5
Lyryx # 5
1.5
Unit test 3ch.4 (15%)
chapter 9
1.5
chapter 9
1.5
1.5
Lyryx #6
1.5
Unit test 4ch.9 (15%)
chapter 5
1.5
chapter 5
1.5
chapter 5
1.5
1.5
Lyryx # 7
chapter 6
1.5
chapter 6
1.5
chapter 6
1.5
1.5
Lyryx # 8
Other Important Information
Please refer to the School of Business Policy Document as found in course documents
on your BlackBoard site. This document contains important information of the School’s
policies and procedures. It is your responsibility to familizrize yourself with this
document.
Late assignments will receive a grade of 0, unless appropriate medical information is
received by your professor in a timely manner. Refer to the Policy doc.