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NORTH LAKE COLLEGE

5001 N. MacArthur Blvd. Irving, Texas 75038-3899 DALLAS COUNTY COMMUNITY COLLEGE DISTRICT

COURSE SYLLABUS
ACCT 2301 PRINCIPLES OF ACCOUNTING I SPRING 2011
BUSINESS & INFORMATION TECHNOLOGY CENTER
BIT DIVISION OFFICE: T-135, PHONE: 972 273-3450 Hours: 8:00 a.m. 8:30 p.m., M-Th, 8:00 a.m. -4:30 p.m., Fri
This course syllabus is intended as a set of guidelines for Accounting 2301. Both North Lake College and your instructor reserve the right to make modifications in content, schedule, and requirements as necessary to promote the best education possible within prevailing conditions affecting this course.

Instructor Information: Gary Harris, MSA, CPA E-mail: gharriscpa@aol.com Phone Number: (972) 273-3450/Front Desk to leave message Office: None Course Information
Course title: Financial Accounting Course number: Accounting 2301 Section number/Class meeting time: 7004 / TR 9:30 am 10:50 am Credit hours: 3

Course Description: This course covers the theory and practice of measuring and
interpreting financial data for business units. Basic concepts, principles, and procedures are applied to the following topics: operating cycle, accruals and deferrals, financial statements, internal controls, receivables, inventory, fixed assets, and liabilities.

Course Prerequisites: None Required or Recommended Textbooks and Materials

A. B. C. Financial Accounting, 8th ed. Harrison / Horngren. Prentice Hall, 2010. MyAccountingLab access code Calculator

Course Objectives
Prepare and use basic financial accounting reports.

Specific Course Learning Outcomes

Upon successful completion of Accounting 2301, the student should be able to: 1. 2. 3. Define the basic objective of financial reporting and the underlying concepts assumptions and principles. Identify the basic components of a classified balance sheet, statement of retained earnings, the income statement and the statement of cash flows. Complete the service accounting cycle including the recording and posting of daily entries and adjusting entries, the preparation of financial statements and the closing process. . Account for cash including bank reconciliation and internal control concepts. Account for short-term investments and receivables including bad debts expense for accounts receivable and the calculation of interest income for notes receivable. Account for inventories including the computation of cost of goods sold and the cost of ending inventory using different inventory cost flow assumptions. Account for the acquisition, depreciation and disposal of plant assets. Account for current and long-term liabilities. Analyze and account for stockholders equity of a corporation including capital stock transactions and dividend distributions. Prepare a cash flow statement. Perform financial statement analysis using horizontal, vertical and ratio analysis.

4. 5.

6. 7. 8. 9. 10. 11.

WORKPLACE AND FOUNDATION COMPETENCIES North Lake College is committed to assisting you in obtaining the knowledge and skills that you will need to succeed in todays dynamic work environment. Towards this goal, the following workplace competencies and foundation skills have been integrated into this course: Workplace Competencies
Manage Resources Work with Information Apply Systems Knowledge Use Technology C1 Time C5 Acquires & evaluates C15 Understands systems C19 Applies C2 Money information technology C3 Material & C6 Organizes & maintains Facilities information C7 Interprets & communicates information C8 Uses computers to process information

Foundation Skills
Demonstrate Basic Skills F1 Reading F2 Writing F3 Arithmetic F4 Mathematics F5 Listening Demonstrate Thinking Skills F7 Creative thinking F8 Decision making F9 Problem solving F10 Seeing things in the minds eye F11 Knowing how to learn F12 Reasoning Exhibit Personal Qualities F13 Responsibility F16 Self-management

Course Outline
Preparing Financial Statements and Analyzing Business Transactions Accrual Accounting Concepts and the Accounting Cycle Internal Controls and Cash Short Term Investments and Receivables Reporting and Analyzing Inventory Reporting and Interpreting Long-Term Operational Assets Reporting and Understanding Liabilities Reporting and Understanding Shareholders Equity The Statement of Cash Flows Using Financial Statement Analysis to Evaluate Firm Performance

Exams and Assignments

You will take 4 exams, a comprehensive final, prepare an accounting cycle graded set as your project and turn in homework online using the MyAccountingLab access code. The 4 exams, the final, the graded set project and the homework are each worth 100 points. *Of the 4 exams, the lowest exam grade will be omitted. If an exam missed
due to absence, it automatically becomes the one omitted. The final exam, graded set project and homework may not be omitted.

Evaluation Procedures
EXAM 1 2 3 4 FINAL CHAPTERS 13 46 7-8 9, 11 - 13 1-9, & 11 - 13 POSSIBLE POINTS 100 100 100 100 100 MY GRADE __________ __________ __________ __________ __________ __________

Project: Accounting Cycle Graded Set

MyAccountingLab ONLINE HOMEWORK

100
100

TOTAL POSSIBLE POINTS

*Omit lowest grade (Exams 1, 2, 3, or 4) TOTAL POINTS FOR COURSE GRADE

700
100 600 __________

Grading Scale
GRADING SCALE FOR 100 POINT TEST A = 90 -100 points B = 80 - 89 points C = 70 79 points D = 60 69 points F = below 60 points POINTS REQUIRED FOR COURSE GRADE A = 540 600 B = 480 - 539 C = 420 - 479 D = 360 - 419 F = below 360

Discipline/ Course/ Department/Policies

1. Class attendance. You are required to attend class on a regular basis. Accounting is challenging to many students therefore attendance is critical. 2. Student preparedness. Read the chapter before lecture. The reading will facilitate the lecture assimilation. 3. Calculators. There will be no sharing of calculators during examinations. Each student must provide his/her own calculator for use during exams.

INSTITUTIONAL POLICIES
ACADEMIC DISHONESTY The Student Code of Conduct prohibits academic dishonesty and prescribes penalties for violations. According to this code, which is printed in the college catalog, "academic dishonesty", includes (but is not limited to) cheating, fabrication, facilitating academic dishonesty, plagiarism, and collusion". Academic dishonesty may result in the following sanctions, including, but not limited to: 1. A grade of zero or a lowered grade on the assignment or course. 2. A reprimand. 3. Suspension from the college. NOTIFICATION OF ABSENCE DUE TO RELIGIOUS HOLY DAY(S) Students who will be absent from class for the observance of a religious holiday must notify the instructor in advance. Please refer to the Student Obligations section of the college catalog for more explanation. You are required to complete any assignments or take any examinations missed as a result of the absence within the time frame specified by your instructor.

REQUIREMENTS OF THE AMERICANS WITH DISABILITIES ACT In accordance with the Americans with Disabilities Act and Section 504 of the Rehabilitation Act of 1973, any student who feels that he or she may need any special assistance or accommodation because of an impairment or disabling condition should contact the ADA/ACCESS Office at (972) 273-3165 or visit Room A-430 at North Lake College. It is the policy of NLC to provide reasonable accommodations as required to afford equal educational opportunity. It is the student's responsibility to contact the ADA/ACCESS Office. DROP POLICY If you are unable to complete this course, you must officially withdraw by Thursday, April 14, 2011. Withdrawing is a formal procedure which you must initiate; your instructor cannot do it for you. All Dallas County Community Colleges charge a higher tuition rate to students registering the third time for a course. This rule applies to the majority of credit and Continuing Education / Workforce Training courses. Developmental Studies and some other courses are not charged a higher tuition rate. Third attempts include courses taken at any DCCCD college since the fall 2002 semester. For further information, go online to: http://www.DCCCD.edu/thirdcourseattempt .

5 FINANCIAL AID STATEMENT Students who are receiving any form of financial aid should check with the Financial Aid Office prior to withdrawing from classes. Withdrawals may affect your eligibility to receive further aid and could cause you to be in a position of repayment for the current semester. Students who fail to attend or participate are also subject to this policy. To apply for financial aid in the DCCCD, students must complete FAFSA (Free Application for Federal Student Aid) on the web at http://www.fafsa.ed.gov . COUNSELING SERVICES Counseling services for personal issues are provided to all students currently enrolled at North Lake College. These services are provided by licensed professionals who are bound by confidentiality (within ethical parameters) at no charge. With the assistance of a counselor, students are able to identify, understand, resolve issues and develop appropriate skills. To make an appointment call 972-273-3333 or visit A 430. STOP BEFORE YOU DROP For students who enrolled in college level courses for the first time in the fall of 2007, Texas Education Code 51.907 limits the number of courses a student may drop. You may drop no more than 6 courses during your entire undergraduate career unless the drop qualifies as an exception. Your campus counseling/advising center will give you more information on the allowable exceptions. Remember that once you have accumulated 6 non-exempt drops, you cannot drop any other courses with a W. Therefore, please exercise caution when dropping courses in any Texas public institution of higher learning, including all seven of the Dallas County Community Colleges. For more information, you may access: https://www1.dcccd.edu/6drop WRITING CENTER (A332) The Writing Center supports and supplements classroom instruction by providing focused, individualized writing instruction in response to the specific needs of the student. The tutors are skilled writing specialists who can help students clarify writing tasks, understand instructors requirements, develop and organize papers, explore revision options, detect grammar and punctuation errors, and properly use and document sources. Rather than merely editing or fixing your papers, the Writing Center staff focuses on helping you develop and improve your writing skills. Be sure to schedule an appointment in advance so that tutor will be available to work with you. Walk-ins are welcome, but you may have to wait or come back at a later time. You can also access the North Lake College Online Writing Lab through eCampus. Once you log into eCampus, click on the Community Tab at the top. Type in Owl in the search field to locate. Follow the instructions on the site to enroll in and receive services from the OWL. The Writing Center is housed in the Academic Skills Center, A-332. Hours are: Monday through Thursday 8:00 a.m. to 8:00 p.m. and Friday 8:00 a.m. to 2:00 p.m. Saturday hours are 9:00 a.m. to 1:00 p.m. during the fall and spring semesters. Hours will vary during other sessions Appointments may be scheduled by visiting the Writing Center, calling 972-273-3089 or emailing nlcwritingcenter@dcccd.edu . INSTRUCTORS RIGHT TO AMEND SYLLABUS The instructor reserves the right to amend this syllabus as deemed necessary

Learning Activities, Outcomes, and Assessment (Form A)

Learning Activity Learning Outcomes Assessment SCANS

Provide a brief description of the Briefly list the specific learning activity. learning outcomes/ objectives for the activity. (Syllabus, Page 2)

How will the activity Which be assessed? Workplace and Foundations Skills are addressed by the learning activity? (Syllabus, Page 2)
Project: Accounting Cycle Graded Set Workplace competencies C1, C5, C6, C7, C8, C15, C19 Foundation Skills F1, F3, F5, F8, F9

Lecture - analyzing and recording business transactions.

#3 Students will record daily journal entries, post to the general ledger and prepare the trial balance.

Lecture updating the accounts and generating the financial statements.

#3 Students will adjust the accounts and generate the financial statements - Income Statement, Retained Earnings and Balance Sheet.

Project: Accounting Cycle Graded Set

Workplace competencies C1, C5, C6, C7, C8, C15, C19 Foundation Skills F1, F3, F5, F8, F9

Lecture- - the closing process

# 3 Students will journalize and post the closing entries to complete the closing process.

Project: Accounting Cycle Graded Set

Workplace competencies C1, C5, C6, C7, C8, C15, C19 Foundation Skills F1, F3, F5, F8, F9

7 COURSE SCHEDULE ACCT 2301, SPRING 2011 WEEK 1 MARTIN LUTHER KING DAY HOLIDAY, ORIENTATION CHAPTER 1 FINANCIAL STATEMENTS WEEK 2 CHAPTER 1 -continued CHAPTER 2 TRANSACTION ANALYSIS WEEK 3 CHAPTER 2 continued CHAPTER 3 ACCRUAL ACCOUNTING & INCOME WEEK 4 CHAPTER 3 - continued EXAM 1 CHAPTERS 1 - 3 2/12/11 ACCOUNTING CYCLY GRADED SET part 1 DUE WEEK 5 CHAPTER 4 INTERNAL CONTROL & CASH EMPLOYEE DEVELOPMENT DAY (THURS ONLY NO CLASS) 2/19/11 ACCOUNTING CYCLY GRADED SET part 2 DUE WEEK 6 CHAPTER 5 - SHORT-TERM INVESTMENTS & RECEIVABLES WEEK 7 CHAPTER 6 - INVENTORY & COST OF GOODS SOLD WEEK 8 EXAM 2 CHAPTERS 4 6 CHAPTER 7 PLANT ASSETS & INTANGIBLES SPRING BREAK 3/14 3/20 WEEK 9 CHAPTER 7 - continued CHAPTER 8 LIABILITIES WEEK 10 LIABILITIES - continued EXAM 3 CHAPTERS 7 & 8 WEEK 11 CHAPTER 9 STOCKHOLDERSS EQUITY

8 WEEK 12 CHAPTER 11 - CHAPTER 11 THE INCOME STATEMENT CHAPTER 12 THE STATEMENT OF CASH FLOWS WEEK 13 CHAPTER 12 - THE STATEMENT OF CASH FLOWS

WEEK 14 CHAPTER 13- FINANCIAL STATEMENT ANALYSIS WEEK 15 EXAM 4 CHAPTERS 9, 1-13 CATCH-UP/SUMMARY/REVIEW WEEK 16 5/9 - 5/12/11 FINAL EXAM CHAPTERS 1- 9, 11-13 NOTE: THIS SCHEDULE MAY BE AMMENDED BY THE INSTRUCTOR