Course Outline

Eastern Connecticut State University

 Business Administration Department

 

 

 

Course Number (Section): ACC 201 (02)          Instructor: Richard P. Silkoff  Sc.D., CPA

Course Name: Principles of Accounting I             Office Hours: MW 11:00 – 1:00 p.m.

Semester: Spring 2003                                                                F      11:00 – 12:00 noon.

Class Time: MWF   10:00 – 10:50 a.m                Office Location: Webb Hall420                    

Class Location: Goddard 202                              E-mail:  silkoffr@easternct.edu                           Telephone:(860)465-5326                                       

 

COURSE OBJECTIVES:

This course serves as an introduction to fundamental accounting concepts and generally accepted accounting principles. Emphasis is placed on understanding accounting as it is applied to serving the needs of business and society. The conventions and mechanics of accounting will be explored, as well as the evolution of accounting, the basic accounting structure, and the preparation and interpretation of financial statements.

 

PREREQUISITES:  None. This course, however, is a requirement of all business majors in the Business Administration Department at Eastern Connecticut State University.

 

EXPECTED OUTCOMES:

The overall objective for this course is for you to learn about accounting as an information

system and communication function that supports economic decision making. To this end,

upon completion of the course, you should be able to:

•  understand the basic features of accounting and reporting by organizations, including

             the principles underlying the integrity and effectiveness of accounting information

             systems.

•  develop critical thinking skills and analytical abilities through the analysis and discussion of

             selected end-of-chapter homework problems.

•   understand that some accounting systems are more effective than others in given

             circumstances and that the decision usefulness of information produced by an

             accounting system depends on its design and choices among information capturing,

             analysis, and reporting options.

•  gain an appreciation that the accounting discipline is the focus of constructive debate

             and intensive rethinking caused by economic and technological change, and will

             continue to evolve in the future.

 

REQUIRED TEXT(S)/SUPPLIES:

• Weygandt, Kieso and Kimmel.  Principles of Financial Accounting.  John Wiley and Sons, 6th ed., 2002
• Weygandt, Kieso and Kimmel. Peachtree Complete Accounting  Release  8.0.  John Wiley and Sons, 6th ed., 2002
• Calculator

 

METHOD OF EVALUATION:

The grading is based approximately as follows:

 

 

Description                               Date                 Weight

 

The grading policy will be the same as stated in the college catalogue.

 

If an examination is missed due to extenuating circumstances, a makeup exam will be administered at the discretion of the instructor, provided typewritten explanation is submitted stating the examination to be taken and explaining, in detail, the extenuating circumstances.

 

 

TIME COMMITMENT: This is a course that requires study time outside of class. Expect to

spend at least two hours outside class for every hour of class time. You should arrange your

schedule to allow for the required time commitment

METHOD OF INSTRUCTION

The primary method of instruction will be a combination of classroom lectures, discussion, and homework assignments (both manual and computer). The instructor will stress certain points and elaborate on others. You should not expect the instructor's lecture to substitute for individual reading of the assigned text materials or to cover all the chapter material. In addition, certain problems and exercises will be worked on the whiteboard or

electronic media to demonstrate one approach to solving the problem. You should then complete a similar problem to capture the concept in your mind.

 

ATTENDANCE POLICIES:           

Class participation is very important in this course. Classroom participation and discussion are necessary to make possible a better understanding of the assigned material. Students are expected to attend all scheduled classes and take part in class discussions and assignments. Students are expected to have read the assigned exercises and problems and be prepared to discuss the material and answer questions. As such, participation and internet assignments are worth 15% of grade.

 

STUDENTS WITH DISABILITIES:

If you are a student with a disability and believe you will need accommodations for this class, it is your responsibility to contact the Office of Access Ability Services at 465-5573. To avoid any delay in the receipt of accommodations, you should contact the Office of Access Ability Services as soon as possible. Please note that I cannot provide accommodations based upon disability until I have received an accommodation letter from the Office of Access Ability Services. Your cooperation is appreciated.

 

 COMPUTER PROBLEMS / INTERNET PROBLEMS

• Three (3) computer problems using Peachtree Complete Accounting Release 8.0 will be assigned and are marked as (A) on the course outline under the column marked “Computer/Internet.” A computer lab is available on campus.
• Internet Exercises are assigned under column marked “Computer/Internet” and can be accessed at http://www.wiley.com/college/weygandt/. Locate the text -Accounting Principles, Active Learning Edition: Vol. 1 (chaps 1-13) then click on the “Student Companion Site.” Find the Internet Exercises in the left column and click on the appropriate exercise number assigned. These are to be submitted directly from the site. Please follow the directions.

 

 

COURSE OUTLINE

Week of                 Topic                         Chapter           Exercises        Problems     Computer/Internet  1/21                 Accounting in Action                     1              3,4,5,6,8          5A, 4B            

1/27                 The Recording Process                 2              3,5,6,7,8          3A, 4B            

2/3                   Adjusting the Accounts                 3              3,4,5,7,9          5A                   Internet Ex3-4

2/10*               EXAM 1  (Chaps 1-3)      Self Study Chaps. 1,2,3

2/17**             Completion of Accounting Cycle   4              1,2,3,5,9          4B                   

2/24                 Accounting for Merchandising       5              4,6,7,8,9,10     2A                          (A1)

3/3                   Inventories                                    6              2,3,6,8,9          6A, 5B             Internet Ex6-5

3/10                 Accounting Info. Systems              7              1,4,5,8             -

3/17                 EXAM 2  (Chaps 4-7)       Self Study Chaps. 4,5,6,7

3/24***          --------------------------------------------------------------------------------------------------------------

3/31                 Accounting for Receivables         9                 2,9,11              1A, 4B            

4/7                   Plant Assets, Resources, etc..     10                3,4,6,8,11        1A, 9B                    (A2)

4/14                 Accounting Principles                 12                1,2,4,5,6          2A                   Internet Ex12-1

4/21                 Accounting for Partnerships        13                2,3,5,7,8          -

4/28                 Corporations: Organization         14                1,4,6,8,9          3A                           (A3)

5/5                   Review

TBA                FINAL EXAM (9,10,12,13,14)   Self Study Chaps. 9,10,12,13,14

 

*     Class will not meet on Friday, Feb. 14^th due to Lincoln’s Birthday observance

**   Class will not meet on Monday, Feb. 17^th due to Washington’s Birthday observance

*** No class March 24 –March 29 due to Spring Recess

 

For Self-Study Chapters, go to  http://www.wiley.com/college/weygandt/    Locate the text - Accounting Principles, Active Learning Edition: Vol. 1 (chaps 1-13) then click on the “Student Companion Site.”Find Self Study questions. These are for student use and are not to be submitted.