Financial Accounting I
ACC 201-75Z1
Online
Fall 2011
3 Credit Hours
Instructor:
Debbie L. Wright
E-mail:
debbie.wright@kctcs.edu (this is the best way to contact me)
Office Phone:
270-824-8614. I’m very bad about voice mail so don’t hesitate
to call a second time!
Home Phone:
270-825-8893. Leave a message if necessary. Please limit your
calls to between 8:00am & 10:00pm central time (I am very
old!). I’m also happy to get a call from you so feel free to call
me!
Office Hours:
MW 1:00—2:15, T 1:30-3:30, R by appointment and Friday
10:00-11:00 and almost anytime I’m in my office. Call or email
me anytime.
Office:
Room 263, Social Sciences Suite, John Gray Building
Description
This course is designed to provide an introduction to financial accounting from the users'
perspectives. Its primary purposes are to promote understanding of financial accounting
information for decision-making purposes and to focus on financial accounting's role in
communication business results.
Academic Prerequisites
Sophomore standing (30 semester hours) or, second semester for declared Business
Administration Accounting Option majors.
Course Objectives
This course is designed to introduce financial accounting from the users' perspectives. Its
primary purposes are to promote understanding of accounting information for decision-making
purposes and to focus on the role of financial accounting in communicating business results.
Upon successful completion of this course, the student will understand:
1.
2.
3.
Explain the aims, functions, uses and influence of accounting in society and in ethical financial decisionmaking.
Describe and apply the steps of the accounting cycle, using mathematics to organize, analyze and
synthesize financial data.
Define the elements of internal control and apply internal control procedures to business organizations.
4.
5.
6.
7.
8.
Prepare the four basic financial statements: Income Statement, Statement of Owner’s/Stockholders’
Equity, Balance Sheet and Statement of Cash Flows.
Explain the content and reporting goals of the four basic financial statements: Income Statement,
Statement of Owner’s/Stockholders’ Equity, Balance Sheet and Statement of Cash Flows.
Explain fundamental generally accepted accounting principles (GAAP), especially as they apply to accrual
accounting and ethical decision-making.
Determine costs and inventory valuations of merchandising operations.
Apply accounting procedures for Cash, Receivables, Plant Assets, Liabilities, Paid-In Capital and Retained
Earnings.
Text
Fundamental Financial Accounting Concepts, 7e, Edmonds, McGraw-Hill. You do not need the
working papers for this text.
Methods
This course involves a great deal of independent work on the part of the student. The
instructor is available for questions by email and through the discussion area for any help you
might need.
Exams
There will be three exams worth 100 points each. Exams may consist of definitions, problems,
and short essays. There are 10 quizzes; one for each chapter. The quizzes will count 90 points
towards your final grade so you may miss 1 without affecting your grade. If you complete all 10
you may receive up to 10 points extra credit. Quizzes are located in each chapter folder on
Blackboard. All Quizzes are open book and open note.
Make-Up/Late Work Policy
If you must miss an exam for any reason, you may take one make-up exam within 1 week of
scheduled exam. There is no make-up for a second missed exam or for the final. I will not
accept homework or quizzes after the scheduled due date for any reason.
Homework
I recommend that you do your homework using the Excel templates located in each chapter
folder. There are 10 homework assignments, one for each chapter. Homework is worth a total
of 90 points towards your final grade so you may miss 1 chapter without it affecting your
grade. If you complete all 10 assignments you may receive up to 10 points extra credit. You are
expected to do your own work on the homework. Cheating will not be tolerated. You may view
the Student Code of Conduct at www.kctcs.edu/student/code.htm
Withdrawal
I will discourage you from dropping if, in my opinion, you are passing the course. November 18 is
the last day that I will give my permission to drop.
Incompletes
Incompletes are given only in extreme cases and only to a student who has completed 80% of
the total class work.
Attendance
Attendance in this class is shown by turning in your homework and quizzes on time.
Important Web Sites
1.
2.
3.
4.
5.
6.
You can get to Blackboard from the MCC Web site at http://www.madisonville.kctcs.edu/
or you may go directly there at http://elearning.kctcs.edu .
The direct link to the textbook website is: http://highered.mcgrawhill.com/sites/0073527122/information _center_view()/ Click on student edition. We’ll just
use the free stuff here. Don’t buy a password or spend any more money!
You may view the KCTCS Student Code of Conduct at www.kctcs.edu/student/code.htm.
To get to your KCTCS email account go to http://www.madisonville.kctcs.edu/
If you are having logon problems or have any technical questions contact KYVU at 866-5909238. Help desk information at
http://elearning.kctcs.edu/webapps/portal/frameset.jsp?tab_tab)group_id=_16_1 .
Library services:
http://elearning.kctcs.edu/webapps/portal/frameset.jsp?tab_tab_group_id=_19_1. Link to
Madisonville Community College Library on MCC Homepage. Use the same KCTCS email link
above.
Technical Help
If you have difficulty logging in or if you have any further questions, please contact the KCTCS
24/7 Help Desk:
Toll Free 1-866-590-9238
Open 24 hours a day, seven days a week
URL: http://elearning.kctcs.edu/webapps/portal/frameset.jsp?tab_tab group id=_16_1
Library Information
You may use the Kentucky Virtual Library (http://www.kyvl.org/ ) where many books and other
resources are available online. The librarians here can also help you find other materials you
need and have them delivered to your local library. They will even help you with research - all
for free! To access the Library databases, you will need a username and password. Email me if
you wish one.
General Education Competencies
Communicate Effectively
--Course objective: The student will read with comprehension, write clearly using standard
English, interact cooperatively with others using online means and demonstrate information
processing through basic computer skills.
--Instructional objectives: The student will demonstrate reading skills by reading the
textbook and various websites in preparing assignments. Writing will be evaluated by
examination of student writing assignments, including quizzes, critical thinking exercises
and exams. The student will demonstrate effective communication through such activities
as threaded discussions, interactions with other students, and homework preparation. The
student will demonstrate computer skills by using excel, word and the internet to complete
class assignments.
Think Critically
--Course objective: The student will demonstrate problem solving through interpreting,
integration of knowledge, analyzing, evaluating and deduction. The student will use
mathematics to organize, analyze, and synthesize data to solve homework problems.
--Instructional objectives: The student will demonstrate critical thinking by evaluation and
discussion of various homework problems. The information gathered will be effectively
presented using various computer skills. The student will be able to analyze information
provided, draw reasonable conclusions and propose a course of action to solve a problem.
Learn Independently
--Course objective: The student will use appropriate search strategies and resources to
find, evaluate, and use information.
--Instructional objectives: The student will demonstrate independent learning by
answering “Critical Thinking” questions for each chapter. The student will make ethical
choices in avoiding the penalties of plagiarism.
Writing Across the Curriculum:
To satisfy the general education requirements of writing across the curriculum,
"All faculty are expected to call attention to and penalize for errors in English usage and
require the rewriting of papers which do not meet acceptable standards." (CCS Rules, Section
V, 2.32)
Disability Statement
"Students with documented disabilities that require
individualized accommodations should schedule a
conference with the Disability Resources Coordinator,
Valerie Wolfe, room 139 JHG at their earliest
convenience.” (Phone 270-824-1708, or email
valerie.wolfe@kctcs.edu)
SAFETY for MCC ON Campus Students
Madisonville Community College is concerned with the safety of the students attending classes
at any of the four campuses. The following points are for your benefit as a student.




In case any life threatening event, call 911. The local emergency responders are better equipped to take care of
these situations.
To sign up for the Safety Notification Alert Process (SNAP) go to the MCC webpage and click on the SNAP
section. After completing this, you will receive notifications on school closings, inclement weather, and other
safety notifications.
To report a safety concern call the MCC Tip Line at 824-1900 to report safety concerns or suspicious behavior.
This line is monitored once a day Monday through Friday.
There is a Maintenance #836-5330 for students on the North campus for use after the switchboard closes at 4:30.
This is a cell phone that is answered by one of the Maintenance & Operations personnel.
Grading
Event
Introductory Letter
Course Policy Acknowledgement
Homework
Chapter Quizzes
Critical Thinking/Ethics Questions
Exam 1
Exam 2
Exam 3 (Final)
Total Points
Grading Scale
Points
5
10
90
90
30
100
100
100
525
Letter Grades
Points Required
A
472-525
B
420-471
C
367-419
D
315-366
E
< 315
My Scores
Accounting 201
Assignment Schedule
Fall 2011
Points
Assignment
Due
Date
Introduction to Class

15
Located in “Click Here First”
o Introduce yourself to the class
on Discussion Board
o Acknowledge course policies
o Upload a file
8/24
Chapter 1

20

Homework 1: EX 1-5A, EX 1-6A, EX 1-12A,
EX 1-14A, EX 1-16A
Complete Quiz 1
8/31
Chapter 2
20


HW: EX 2-2A,2-5A, 2-9A, Problem 2-26A
Complete Quiz 2
9/7
Chapter 3
20



HW: EX 3-2A, 3-3A,3-5A, P3-19A
Complete Quiz 3
Review for Exam 1
Exam 1 Chapters 1-3
9/16—9/19
All exams online
100
9/14
9/19
Chapter 4
35



HW: E 4-1A,E 4-4A, E4-6A, E4-7A, E4-19A
Critical Thinking Problem—ATC 4-6
Compete Quiz 4
9/28
Chapter 5
20


HW E 5-2A, 5-5A, 5-13A, P 5-24A
Complete Quiz 5
Fall Break: 10/10—10/14
If this is not your fall break then you should work ahead and turn in hw.
Instructor will be online intermittently during this week.
10/5
Chapter 6
20
100



HW: E 6-2A, E 6-3A, E 6-4A, E 6-5A, EX 6-15A
Complete Quiz 6
Review for Exam 2
Exam 2 Chapters 4-6
Open 10/21—10/24
You will have 2 hours during this 4 day window to take the exam
10/19
10/24
Chapter 7
20


HW: 7-2A, 7-4A, 7-7A, P7-21A
Complete Quiz 7
11/2
Chapter 8
35



HW: E 8-5A, 8-7A,8-8A, 8-9A, P 8-20A
Complete Quiz 8
Critical Thinking Problem—ATC 8-7
o Turn in Separately from hw.
11/9
Chapter 9
20


HW: E 9-1A, 9-3A, 9-6A, 9-8A, 910A, 9-13A
Complete Quiz 9
11/16
Chapter 10

20
100


HW: 10-2A, 10-5A, 10-8A,
10-9A, 10-10A, 10-15A
Complete Quiz 10
Review for Exam 3
Exam 3 Chapters (Final) 7-10
12/2—12/5
11/23
12/5
Please note all dates are subject to change.
No late quizzes or hw accepted.
A note about extra credit. You have an opportunity to earn up to 20 extra credit points by
completing all 10 homework assignments and all 10 quizzes.
 Earn up to 10 points when you complete the 10th homework assignment
 Earn up to 10 points when you complete the 10th chapter quiz