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HomeMy WebLinkAboutACC-110Bergen Community College Division of Business, Arts and Social Sciences Department of Business & Hotel Restaurant Management Course Syllabus ACC-110 Financial Accounting Semester and Year Course and Section Meeting Days/Times Room Instructor Office Location Office Hours Phone E-Mail Address Course Description ACC-110 Financial Accounting is an introduction to the theory of accounting and the procedures necessary to produce financial statements. This course focuses on the classification, valuation and communication of financial information. An emphasis will be placed on the usefulness of financial accounting concepts. Prerequisites: None Student Learning Objectives And Means of Assessment As a result of meeting the requirements of the course, students will be able to: Student Learning Objectives Means of Assessment 1 Identify Financial Accounting terminology Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. 2 Apply Financial Accounting theory to business transactions and events Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. 3 Identify the usefulness of financial statements, calculate and analyze financial ratios to assess the profitability, liquidity and solvency of the entity Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. 4 Explain the purpose of the steps in the accounting cycle and perform them Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. 5 Perform bank reconciliation and make the required journal entries to update the cash account Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. 6 Evaluate the measures and methods adopted by a company in the system of internal controls Graded homework, cases and problems and/or comprehensive objective and/or essay type examination. Standard: At least 70% of all students will receive an average grade of 70 or better on homework assignments and examinations. Course Content Chapter Coverage 1 Introduction to Financial Statements 2 A Further Look at Financial Statements 3 The Accounting Information System 4 Accrual Accounting Concepts 5 Merchandise Accounting and the Multi-Step Income Statement 6 Reporting and Analyzing Inventory 7 Internal Control and Cash 8 Reporting and Analyzing Receivables 9 Reporting and Analyzing Long-Lived Assets 10 Reporting and Analyzing Liabilities 11 Reporting and Analyzing Stockholders' Equity 12 Statement of Cash Flows Specific Features Financial Accounting meets the requirement for an Associate in Science Degree in Business Administration-Accounting Option. It is designed to fulfill the needs of students who wish to transfer to a four-year institute of higher education as well as those who choose to enter the field of business, industry or government. It provides the student with necessary information for the proper management of business, including the ability to understand various financial records and statements. It also prepares the student for advanced study in the accounting field. Course Texts This course is using Kimmel Accounting 6th Edition with WileyPLUS. Access to WileyPLUS is required for you to complete course work. Note that the complete e- book is available in the WileyPLUS system, so you may choose to go digital-only and still have access to all reading and study materials for this course. You have the choice to visit the bookstore to purchase the print book with a WileyPLUS registration card or a WileyPLUS registration card alone. You may also visit the following URL to purchase directly from Wiley and save. The site features the full print and WileyPLUS package, individual reference volumes without WileyPLUS, or discounted WileyPLUS access: http://www.wiley.com/WileyCDA/Section/id-828410.html The publisher graciously allows students to register for a grace period and enter class without an access code for approximately the first two weeks of the semester. They do not need to pay to get started. Encourage students to register and start on Day 1. This course requires the purchase of the WileyPLUS software for the above text. The purchase of a text is optional though strongly advised. There is an interactive electronic textbook included in the WileyPLUS software. Students may choose to save money and only purchase the homework software and only use the electronic textbook. Students desiring a hard copy of text may purchase a package at the BCC Bookstore or via direct purchase from the publisher for additional savings. Additional instructions to purchase and register your copy of WileyPLUS are located in the Moodle site at moodle.bergen.edu . See COURSE INTRODUCTION - READ ME FIRST>3. WileyPLUS Registration. See Moodle for the specific instruction to access the Wiley Plus Class site. Used and rental books do NOT include valid WileyPLUS codes, making this option the most expensive. Not sure which option is best for you? Grace Period gives you temporary access for up to 14 days so you have time to decide. Other Optional Study Material Textbook Companion Site  Available through the textbook’s website at student companion site at  http://bcs.wiley.com/he-bcs/Books?action=index&itemId=111919167X&bcsId=10005 Tutoring  The tutoring center is located in L-125. Telephone: (201) 447-7489 and online at http://www.bergen.edu/current-students/student-support-services/tutoring/tutoring- center  The writing center is located in L-125. Telephone: (201) 447-7489 and online at http://www.bergen.edu/owl Library  The library has a number of textbooks, videotapes and aids in its regular and reserve holdings which may be used as a reference. In addition to the resources mentioned above students should be encouraged to make full use of the Sidney Silverman Library (in person and online at http://www.bergen.edu/library/. Writing and Critical Thinking Requirements: There are many types of projects that are excellent learning activities for ACC-110 students. Some examples of “projects” that can be assigned to individuals or groups which incorporate written and/or oral communication skills are: -Financial statement/annual report analysis including ratio analyses and supported opinions as to the credit worthiness and investment desirability of the company. HIGHLY RECOMMENDED (Contact full time accounting faculty for sample of this project.) -Perform all parts of the accounting cycle using the students’ personal financial information and perform analyses as per above. -Research the career and job opportunities in Accounting using various Internet sites and describe various areas of expertise, starting salaries, required education and certifications, etc. -Obtain information from the AICPA, NJSCPA, CMA and EDGAR web sites and discuss current accounting topics of interest. -Obtain current news articles about relevant Accounting issues. (i.e. obtain an article about a fraud/embezzlement and identify the weakness in internal controls and changes required to strengthen the system.) THE OBJECTIVE IS TO PROVIDE THE STUDENTS WITH AN ACCOUNTING LEARNING EXPERIENCE THAT UTILIZES THEIR WRITTEN AND/OR ORAL COMMUNICATION SKILLS. A RUBRIC SHOULD BE PREPARED BY FACULTY AND DISTRIBUTED TO STUDENTS BEFORE ASSIGNING THE ACTIVITY. (SEE YOUR DEPT. CHAIR IF YOU HAVE QUESTIONS.) Grading And Assessment It is expected that the reading assignments and questions at the end of the chapter will be completed. This is necessary to make it possible for the student to participate in any discussions. Students are strongly encouraged to ask questions on any matters that are not clear to them. The following criteria will be used to assess your performance and assign you a final grade: Class Participation * 0-10% Homework 10-25% Projects (Cases, Internet Research, Annual Report Projects, etc.) 10-20% Quizzes and Exams 40-70% (True/false questions on exams/quizzes are not appropriate.) Departmental Final Exam (REQUIRED) Chapters 1-12 10-20% *Class participation grades cannot be based solely on attendance. The grade must be based on objective recordings in the instructor’s grade book of participation, discussion, responses to questions, etc. BCC Attendance Policy: All students are expected to attend punctually every scheduled meeting of each course in which they are registered. Attendance and lateness policies and sanctions are to be determined by the instructor for each section of each course. These will be established in writing on the individual course outline. Attendance will be kept by the instructor for administrative and counseling purposes. Suspension Of Classes Students should listen to local broadcast stations in the event of emergencies when classes may have to be suspended; they should not telephone college offices or broadcast stations for information. (See Emergencies in the Catalog’s Student Life section) Other College, Divisional and/or Department Policy Statements Office of Special Services Special Note:  Students who require accommodations in accordance with the Americans with Disabilities Act (ADA) can request these services from the Office of Specialized Services. To learn more about how to apply for services, please visit them at: 201- 612-5270 or http://www.bergen.edu/oss.  This statement is required in all Course Outlines Student and Faculty Support Services The Distance Learning Office – for any problems you may have accessing your online courses Room C-334 201-612-5581 psimms@bergen.edu The Tutoring Center Room L-125 201-447-7489 http://www.bergen.edu/current- students/student-support- services/tutoring/tutoring-center The Writing Center Room L-125 201-447-7489 http://www.bergen.edu/owl The Office of Specialized Services (for Students with Disabilities) Room S-131 201-612-5270 http://www.bergen.edu/oss The Sidney Silverman Library – Reference Desk Room L-226 201-447-7436 Accounting Department Policy Regarding the Use of the Tutoring Center The Henry and Edith Cerullo Learning Assistance Center (CLAC), also known as the Tutoring Center, is located in Room L-125 and can be reached by telephone at 201-447-7489. The Tutoring Center provides many services to students in need of additional support. These additional services may be located at http://www.bergen.edu/current-students/student- support-services/tutoring/tutoring-center. While supplemental support for students is part the mission of the Tutoring Center, it must also help maintain the academic integrity of all college coursework. It is understood that in order to maintain the integrity of all coursework submitted for a grade, it is the Accounting Department's policy that no student shall call upon the Tutoring Center for assistance relating to any work to be submitted for a grade. This includes use of the WileyPlus software application. This applies to all WileyPlus material either in printed or electronic format. The Tutoring Center staff cannot access the WileyPlus site. Any requests for additional help by students relating to assignments to be submitted for a grade must be made through the course instructor. Any violation of this policy will be considered a violation of the college's Student Code of Conduct relating to academic dishonesty. Course Outline and Calendar: Sample Format for Course Outline and Calendar Note to Students: The following Course Outline and Calendar is tentative and subject to change, depending upon the progress of the class. All homework assignments are submitted via the WileyPlus site. The due dates for homework are posted along with each assignment in WileyPlus. It assumes putting aside time for a minimum of twice per week for your studies. Chapter Introduction/Intro to FS 1 Introduction to Financial Statements 2 A Further Look at Financial Statements 3 The Accounting Information System TEST 1 4 Accrual Accounting Concepts 5 Merchandising Operations and the Multiple-Step 6 Reporting and Analyzing Inventory TEST 2 7 Fraud, Internal Control and Cash 8 Reporting and Analyzing Receivables 9 Reporting and Analyzing Long-Lived Assets TEST 3 10 Reporting and Analyzing Liabilities 11 Reporting and Analyzing Stockholders' Equity 12 Statement of Cash Flows TEST 4 FINAL EXAM Closure All chapter homework assignments are submitted via the WileyPLUS site. The actual due dates are posted along with each assignment in WileyPLUS.