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HomeMy WebLinkAboutACC-202Bergen Community College Division of Business, Arts and Social Sciences Department of Business, Accounting and Finance Departmental Policy Syllabus ACC-202 Intermediate Accounting I Semester and Year Course and Section Meeting Days/Times & Room Instructor Office Location Office Hours Phone E-Mail Address Course Description ACC-202 - Intermediate Accounting I is an in-depth study of accounting principles and their application to the preparation of financial statements. Students participate in a detailed study of current assets and current liabilities. The analysis and preparation of a statement of cash flows is also taught 3 Credits (2 lecture hrs. 2 lab hrs.) Prerequisite[s]:Prerequisite[s]: ACC-210; minimum grade C. 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 1. Analyze reports prepared in compliance with Generally Accepted Accounting Principles (GAAP) and/or International Financial Reporting Standards (IFRS). 2. Comprehensive examination questions and /or case and problem solving assignments 2 3. Discuss the international movement towards one global set of financial statements. Comprehensive examination questions and /or case and problem solving assignments 3 4. Prepare a multi-step income statement, explain its components and its usefulness Comprehensive examination questions and /or case and problem solving assignments 4 5. Prepare a classified balance sheet, its components and the classifications of assets, liabilities and stockholder equity. Discuss the components of each. Comprehensive examination questions and /or case and problem solving assignments 5 6. Prepare a statement of cash flows, explain the operating, investing, and financing sections. Distinguish direct and indirect presentation methods Comprehensive examination questions and /or case and problem solving assignments 6 Prepare transactions for cash and receivables Comprehensive examination questions and /or case and problem solving assignments 7 Prepare transactions about a company’s inventory transactions using various methods including FIFO, LIFO, dollar value LIFO, and retail methods. Evaluate the impact of each. Comprehensive examination questions and /or case and problem solving assignments 8 Prepare and explain transactions about a company’s operational assets including computing depreciation, depletion, and amortization using a variety of methods and recording transactions of operational asset acquisition, disposal, and impairment in the accounting records of a company. Comprehensive examination questions and /or case and problem solving assignments Course Content Topic 1 Financial Accounting & Accounting Standards 2 Conceptual Framework Underlying Financial Accounting 3 The Accounting Information System 4 The Income Statement 5 Balance Sheet & Statement of Cash Flows 6 Accounting Time Value of Money 7 Cash & Receivables 8 Valuation of Inventories 9 Inventory: Additional Valuation Issues 10 Acquisition and Disposition of PP&E 11 Depreciation, Impairments, and Depletion 12 Intangible Assets 23 Statement of Cash Flows (will be revisited) Course Texts Intermediate Accounting, Volume 1, 2013, 16th Edition by Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield Bookstore: soft cover book and Wiley Plus Access Code custom combination package available. (Textbook need not be purchased but the WILEY PLUS Access Code must be purchased to complete the HW assignments.) Writing and Critical Thinking Requirements: There is no specific writing requirement. Students are required to demonstrate critical thinking by demonstrating an ability to analyze data and solve problems based on various accounting and business situations. Grading And Assessment Faculty members are encouraged to use multiple methods of assessment and to assess student learning frequently. A midterm and final exam are not sufficient measures of student learning. Some examples of assessment methods are:  Daily or weekly short quizzes  Unit exams (multiple choice, problems and/or essays – a mix is best) Use of True/False questions are prohibited.  Student presentations, group or individual (a topic from the text, results of research, etc)  Research reports or term papers either group or individual  Class participation (Note: class participation grades cannot be based solely on attendance but must reflect participation in discussion, responses to questions, etc., and should be recorded in the instructor’s grade book.) Examinations 10-60% Graded homework and in-class assignments 10-30% Projects and cases 10-30% Class Participation 0-10% Comprehensive Final Exam (Required) 10-20% Total 100% Competencies: In addition to meeting the overall objective cited above, there are additional student competencies that are desirable and should be encouraged throughout the entire educational experience. Some of these are:  Oral and written communication skills  Computer Literacy  Interpersonal Skills  Critical Thinking Skills  Problem Solving There are various ways in which we can meet our specific course objectives as well as to enhance our students’ competencies in these areas. Oral reports on related current events, topical coverage or explanations of problems and cases may be encouraged. Projects can be assigned where students analyze current financial statements. Written and/or oral communication skills MUST be applied. Group work is an effective tool to enhance several of these skills. Assigning problems/exercises/cases/independent research requiring the use of the Internet and word processing their responses may be desirable. 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. Attendance Policy in this Course: It is at the instructor’s discretion to institute an attendance policy. If a student will be penalized for absences and lateness, it is incumbent upon the instructor to include those provisions in the outline. Suspension Of Classes Students should refer to the Bergen Community College website for information about school/class cancellations. 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/pages/676.asp. 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 Smart Thinking Tutorial Service On Line at: www.bergen.edu/library/learni ng/tutor/smart/index.asp The Tutoring Center Room L-125 201-447-7908 The Writing Center Room L-125 201-447-7908 The Online Writing Lab On Line at: www.bergen.edu/owl The Office of Specialized Services (for Students with Disabilities) Room S-131 201-612-5270 www.bergen.edu/oss The Sidney Silverman Library – Reference Desk Room L-226 201-447-7436 Special Note on the Tutoring Center - The Henry and Edith Cerullo Learning Assistance Center encompasses the Tutoring Center, the English Language Resource Center, and the Writing Center. The website of the Learning Assistance Center is located at www.bergen.edu/pages/2192.asp. Tutoring services are available for this course in the Tutoring Center. I strongly recommend that you make use of those services as we progress through the semester. As listed above, the Tutoring Center is located in Room L-125, and its phone number is 201-447-7908. You can also make appointments for tutoring online through the BCC Virtual Campus, which is located at www.bergen.edu/pages/2864.asp. Click on the link for the "Tutoring Appointment System." Other College, Divisional, and/or Departmental Policy Statements: Statement on plagiarism and/or academic dishonesty: Plagiarism and academic dishonesty are S serious infractions which are dealt with by the Vice President. Students may want to become aware of our policy on plagiarism at http://www.bergen.edu/pages1/Pages/2307.aspx .office hour It is recommended that a policy for academic dishonesty be included in the outline Optional policies: Examples of Optional policies: Code of Student Conduct. Statement on plagiarism and/or academic dishonesty. Sexual Harassment statement. Statement on acceptable use of BCC technology. Statement on the purpose and value of faculty office hours. 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. Chapters Date(s) Topic 1 Financial Accounting & Accounting Standards 2 Conceptual Framework Underlying Financial Accounting 3 The Accounting Information System 4 The Income Statement Exam 1; Chapters 1-4 5 Balance Sheet & Statement of Cash Flows 23 Statement of Cash Flows (will be revisited) 6 Accounting Time Value of Money Exam 2; Chapters 5, 23, &6 7 Cash & Receivables 8 Valuation of Inventories 9 Inventory: Additional Valuation Issues Exam 3; Chapters 7-9 10 Acquisition and Disposition of PP&E 11 Depreciation, Impairments, and Depletion 12 Intangible Assets Exam 4; Chapters 10-12 Comprehensive Final Exam Course Activities Faculty is encouraged to use a variety of instructional techniques to encourage student learning. Research shows that straight lecture is not particularly effective. Lecture segments should be kept to a maximum of 20 minutes and be interspersed with other learning activities such as demonstration, question and answer, class discussion, group learning projects, student presentations, etc. In order to meet the needs of diverse learners, faculty is encouraged to supplement lectures with technology. (Note: if not assigned to a room already equipped with the technology, portable teaching stations equipped with a laptop computer and projection system is available from the library. Also, all classrooms have an Internet connection.) Faculty is encouraged to incorporate the use of technology in their assignments and projects. Students have ample access to the Internet, as well as Microsoft Office in college labs. Accordingly, assignments using the Internet, Excel, Word and Power Point can be assigned.