FALL 2011
COURSE SYLLABUS
GREAT BASIN COLLEGE
ACC 201 FINANCIAL ACCOUNTING (3 credits) 1001,1003-1006
Instructor: Scott Nielsen, MBA, CPA
Class Dates: 8/29, 9/19,10/3,10/17,10/31,11/14,11/28
Office: Berg Hall Office Phone: (775) 753-2289 (voice mail) Time: 7:00-9:45 pm Location: HTC 123 (Elko)
Office Hours: 8:00-5:00 by appointment
E-mail: Through WebCampus
Or scottn@gwmail.gbcnv.edu
COURSE MATERIALS
1) Textbook: Accounting, by Warren, Reeve, Duchac, 24e, South-Western Cengage Learning, 2009 , 2012.
(Required) NOTE: Only Chapters 1-12 are covered in this course; remaining chapters are covered in ACC 202 in
Spring.
2) A calculator for working problems on homework, quizzes, and exams. (Strongly Recommended)
COURSE CATALOG DESCRIPTION Basic accounting principles and procedures with a focus on the sole
proprietorship and partnership forms of business. The accounting cycle, receivables, payables, inventory, fixed
asset acquisition and disposal, and financial statement preparation.
COURSE PREREQUISITES There are no prerequisites for the course, but analytical reading and a working
knowledge of basic mathematics is required; an understanding of basic algebraic concepts is also helpful.
COURSE OBJECTIVES/EXPECTED LEARNER OUTCOMES
MEASUREMENT
Upon completion of the course the student will be able to:
1. Apply accounting concepts/principles, use the acctg equation to
Chapter 1 homework problems and quiz;
analyze business transactions, prepare financial statements.
Exam 1
2. Apply rules of debit & credit in journalizing transactions, posting
Chapter 2 homework problems and quiz;
to the ledger, and preparing a trial balance.
Exam 1
3. Apply revenue & matching principles to make adjusting entries,
Chapter 3 homework problems and quiz;
prepare an adjusted trial balance.
Exam 1
4. Complete the accounting cycle, prepare a worksheet, and close
Chapter 4 homework problem and quiz;
appropriate accounts.
Exam 2
5. Journalize & post transactions using special journals & subsidiary Chapter 5 homework problems and quiz;
ledgers in both manual & computerized accounting systems.
Exam 2
6. Journalize transactions and prepare financial statements for a
Chapter 6 homework problems and quiz;
merchandising business.
Exam 2
7. Account for inventory using FIFO, LIFO, and average cost
Chapter 7 homework problems and quiz;
methods under both perpetual & periodic inventory systems.
Exam 3
8. Describe the impact of Sarbanes-Oxley on internal control;
Chapter 8 homework problems and quiz;
prepare a bank reconciliation & related journal entries.
Exam 3
9. Use allowance & direct write-off methods for bad debts; account
Chapter 9 homework problems and quiz;
for accounts & notes receivable.
Exam 3
10. Account for the cost, depreciation, and disposal of a plant asset;
Chapter 10 homework problems and quiz;
account for natural resources and intangible assets.
Final exam
11. Account for known & estimated current liabilities; use a payroll
Chapter 11 homework problems and quiz;
register, compute payroll amounts & record payroll transactions.
Final Exam
12. Account for partnership investments, profits/losses, admission & Chapter 12 homework problems and quiz;
withdrawal of partners, & partnership liquidation.
Final Exam
In addition, this course is part of the Associate of Applied Science degree in which students’ overall progress is
measured at the program level upon entrance into the program and upon graduation.
HOMEWORK/EXAMS
All homework, exams, and quizzes are completed online through WebCampus. Students must submit homework
when due for full credit. Students may discuss homework assignments, but the final product submitted should be
each student’s individual work. Chapter quizzes are open book, untimed, and completed independently. Three
quizzes may be taken per chapter with the highest score recorded. Exams are timed and must be completed
independently. Working with others on the exams or transferring or receiving exam information before,
during, or after an exam is cheating and will result in disciplinary action in accordance with the GBC
general catalog and student handbook.
ATTENDANCE
Since there are only seven (7) class meetings during the semester, it is extremely important that students attend
all classes. Students missing class are still responsible for material covered.
METHODS OF INSTRUCTION
This is an interactive video (IAV)/WebCampus hybrid course. Chapters will be covered through lecture, discussion,
working exercises and problems. Students should prepare the chapter before it is discussed in class.
ACC 201 Fall 2010 TENTATIVE CLASS SCHEDULE
Dates
Aug 29
CLASS
Sept 5
Sept 12
Sep 11
Sep 19
CLASS
Sep 21
Sep 23-24
Sep 26
Sept 28
Oct 3
CLASS
Oct 9
Oct 14-15
Oct 17
CLASS
Oct 24
Oct 24
Oct 31
CLASS
Oct 31
Nov 7
Nov 10
Nov 14
CLASS
Nov 21
Nov 19-20
Nov 28
CLASS
Dec 5
Dec 5
Dec 12-13
Topics
Intro to Course & WebCampus
Ch 1: Intro to Acctg & Business
Ch 2: Analyzing Transactions
Ch 3: The Adjusting Process
Ch 1 & 2 homework & quizzes due on WebCampus
Ch 4: Completing the Acctg Cycle
Review Chapters 1-3
Ch 3 homework & quiz due on WebCampus
**EXAM 1 (Chapters 1-3)** on WebCampus
Ch 5: Accounting Systems
Appen: End-of-Period Spreadsheet (Chpt 4)
Ch 4 homework & quiz due on WebCampus
Ch 6: Accounting for Merchandising Businesses
Appen 1: Acctg Systems for Merchandisers (Chpt 6)
Appen 2: The Periodic Inventory System
(Chpt 6)
Review Chapters 4-6
Ch 5 & 6 homework & quizzes due on WebCampus
**EXAM 2 (Chapters 4-6)** on WebCampus
Ch 7: Inventories;
Review Chpts 7-8
Ch 8: Sarbanes-Oxley, Internal Control, and Cash
Appen: Estimating Inventory (Chpt 7)
Ch 7 homework & quiz due on WebCampus
Ch 9: Receivables; Appen: Discounting Notes
Receivable
Review Chpts 7-9
Ch 8 homework & quiz due on WebCampus
Ch 10: Plant Assets & Intangible Assets;
Appen 1: Sum-of-the-Years-digits Depreciation;
Appen 2: Exchanging Similar Fixed Assets
Ch 9 homework & quiz due on WebCampus
Ch 11: Current Liabilities and Payroll
Review Chapters 10-12
Ch 10 homework & quiz due on WebCampus
**EXAM 3 (Chapters 7-9)** on WebCampus
Ch 12: Acctg for Partnerships & Limited Liability Co.
Review Chpts10-12
Review Chpts 10-12 for final exam answer any
questions
Ch 11 & 12 homework & quizzes due on WebCampus
**FINAL EXAM (Chapters 10-12)**on WebCampus
Homework
Self-Intro
P1-2A, P1-5A; Quiz
P2-2A,3A; Quiz
P3-1A, P3-5A; Quiz
Due
Dates
Sep 2
Sep 9
Sep 11
Sep 21
Points
5
5,5,5
5,5,5
5,5,5
P4-6A; Quiz
Sept 28
10,5
P5-1A, P5-1B;Quiz
Oct 3
100
5,5,5
P6-2A, 3A; Quiz
Oct 9
5,5,5
P7-1A,2A,3A; Quiz
Oct 24
100
5,5,5,5
P8-2A,5A; Quiz
Oct 31
5,5,5
E9-19,P9-2A; Quiz
Nov 10
5,5,5
P10-3A, 2A; Quiz
Nov 14
5,5,5
P11-3A,5A; Quiz
Nov 21
5,5,5
P12-1A,5A; Quiz
Dec 5
100
5,5,5
100
Note: This schedule is tentative. No major changes in the content of this syllabus are anticipated other than
changes instructor finds necessary to accommodate student/instructor needs. Students will be informed of any
changes made in a timely and clear manner. Check WebCampus daily for updates.
Course Requirements:
3 Exams
Homework
Chapter quizzes (12 @ 5 pts)
Final exam
Total points
300
120
60
100
580
Letter Grade
A 93-100%;
B+ 87-89%;
C+ 77-79%;
D+ 67-69%;
F < 60%
Equivalents:
A- 90-92%
B 83-86%; B- 80-82%
C 73-76%;
C- 70-72%
D 63-66%;
D- 60-62%
Students who successfully complete this course attend all classes, ask questions, and complete all
homework, quizzes and exams in a timely manner. Remember that the more effort you put into this class,
the more you will get out of the class in terms of knowledge as well as a course grade.