PREREQUISITE: None CLASS Sept 2, 2014 – December 12, 2014 SCHEDULE SD02 – 9:30 – 11 am SD01 – 12:30 – 2 pm Wednesday & Friday LOCATION: SD 02 Rm 6-226 CCC SD 01 Rm 6-344 CCC INSTRUCTOR: Darlene Lowe, CMA, MBA CONTACT Use the email function through blackboard learn. OFFICE: 5-225 H OFFICE HOURS: SD02: 11:00 – 11:30 am Wednesday/Friday and by appointment SD01: 2:00 – 2:30 pm Wednesday/Friday and by appointment TEXT: Accounting Principles Volume 1, Sixth Canadian Edition by Weygandt, Kieso, Kimmel, Trenholm, Kinnear andBarlow. John Wiley & Sons Canada, Ltd. 2013 ACCOUNTING STUDENTS – purchase volumes 1 & 2 that are packaged together, ISBN 9781119005414. You require both books for ACCT 111 and ACCT 161 and this will save you considerable money. BUSINESS MANAGEMENT, INSURANCE, GOLF & HUMAN RESOURCES STUDENTS – only purchase volume 1, the stand alone book ISBN 9781119009290. You are only required to take one financial accounting course so only one textbook is needed. Note that this course uses Wiley Plus, which is an online tool where you prepare online assignments. I will send you an email with the correct URL to register in. Please register as soon as you receive it.
COURSE
DESCRIPTION: Students are introduced to fundamental accounting principles, concepts and techniques. The course provides an overview of the accounting cycle from the initial recording of transactions through to the preparation of financial statements for merchandising and service businesses that are organized as proprietorships, partnerships or corporations. Internal controls for cash, calculating and recording of payroll, sales tax and some alternate inventory cost flow assumptions are other topics that are examined in detail.
COURSE OUTCOMES: Upon completion of this course, the successful student will be able to
1. Explain the need for accounting information for different types of business organizations.
2. Record and summarize financial transactions for business organizations. * Differentiate between the cash and accrual bases of accounting. * Prepare a payroll summary and record the necessary payroll journal entries. * Explain how special journals and subsidiary ledgers can be used to enhance an accounting information system.
3. Create financial statements for service and merchandising businesses.
4. Create financial statements for proprietorships, partnerships and corporations.
5. Identify internal controls to safeguard cash and make recommendations for improvement.
6. Differentiate between inventory valuation systems and cost flow assumptions. 7. Explain the characteristics of proprietorships, partnerships and corporations and account for transactions encountered in these organizations. ACCOUNTING PROGRAM LEARNING OUTCOMES (May 2008)The Accounting Program is focused on providing a strong accounting education. The emphasis is on developing industry relevant knowledge and skills for application in a competitive and global environment. Graduates possess qualitative and quantitative skills necessary for complex problem solving and decision making situations, often in a financial setting. The following program outcomes identify financial knowledge, skills, and attitudes required of all graduates.On completion of the Accounting Program, graduates will be able to: * demonstrate comprehensive accounting skills, theory, practice and knowledge * apply qualitative and quantitative critical thinking skills * demonstrate effective communication skills * apply problem solving and decision making skills * achieve results through teamwork * model professional and ethical conduct * adopt a global perspective * use industry standard technology effectively * adapt to changing situations * demonstrate an awareness of accounting professions in * the workplace * value continuous learning * model a positive, responsible attitude |
GRADING: Letter Grade | Percent Equivalent | Grade Point | A+ | 95-100 | 4.0 | A | 90-94 | 4.0 | A- | 85-89 | 3.7 | B+ | 80-84 | 3.3 | B | 75-79 | 3.0 | B- | 70-74 | 2.7 | C+ | 65-69 | 2.3 | C | 61-64 | 2.0 | C- | 57-60 | 1.7 | D+ | 53-56 | 1.3 | D | 50-52 | 1.0 | F | 49% and lower | 0.0 | * In order to graduate with an Applied Degree, a Diploma or a Certificate, a student must have an overall GPA of 2.0, and be in Satisfactory Standing in their final term.
COURSE EVALUATION: Wiley Plus Online Homework (labs) | 10% | 2 Assignments – Written | 10% | 2 Quizzes | 15% | Midterm | 30% | Final | 35% | | | Total | 100% | Wiley Plus (online computer assignments) can be redone three times within the time allotted and the best grade is recorded. If you receive 90% or greater, I will give you 100% for your Computer (Wiley Plus) assignments.
Other Reference Materials:
Blackboard will be used as a supplemental tool to access course information such as grades, assignments and solutions, hand-outs and to act as a communication tool outside of the classroom. Please visit MacEwan’s student portal at www.mymacewan.ca. If you go directly to any application you won’t be prompted to update your password and you will eventually lose access.
UNIVERSITY POLICIES: Academic Calendar (for important dates): http://www.macewan.ca/wcm/Publications/index.htm - choose 2014/15 note: The last day to withdraw without Academic Penalty (a grade of “F”) is Friday, November 7, 2014. Non-attendance does not constitute a withdrawal nor does simply notifying your instructor. Failure to officially withdraw will result in a failing grade. To withdraw from your course, you must sign an add/drop form and deliver it to the Registrar Office on or before the deadline.
Final Exams: C2005 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_003525.pdf Grading: C2020 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_003528.pdf Students with Disabilities (for accommodations): E3400 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_003664.pdf Refunds and Fees: E2112 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_004740.pdf Student appeals and student concerns: E3103 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_003662.pdf Student Rights and Responsibilities: E3101 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_003660.pdf Academic Integrity (cheating / copying / working together / etc.): C1000 http://www.macewan.ca/contribute/groups/public/documents/document/pfw_017203.pdf EXAMS & LABS: 1.) Unless otherwise stated, online labs will be due at 11:59 p.m. on the designated due date. Assignments can be redone three times and only the best mark is recorded. Please note the due dates, once a lab is closed it will not reopen 2.) Written assignments are due at the beginning of class and will not be accepted late, NO EXCEPTIONS. They can be done manually or using the computer programs of Microsoft excel or word. When handing in assignments, please ensure they are stapled or contained in a folder, and your name is clearly identified. I will not accept loose pages. I do not bring in a stapler to class so please ensure that you make the necessary arrangements. 3.) The midterm and final exams are written on a closed-book basis. Note that cell phones will not be allowed as an alternative to a calculator during quizzes and exams.
4.) Attendance at exams is compulsory. No re-writes or make-up exams. Missing an exam without prior agreement or a verifiable acceptable excuse may affect your continuing in the course.
Class Schedule
| DATES | DAY | CONTENT AREA & OTHER NOTES | READINGS | Wiley Plus Deadlines | 1 | Sept 3 | Wed | Accounting in Action | Ch 1 | | 2 | Sep 5 | Fri | Accounting in Action | Ch 1 | | 3 | Sep 10 | Wed | Accounting in Action | Ch 1 | Ch 1 – Sept 14 | 4 | Sep 12 | Fri | The Recording Process | Ch 2 | | 5 | Sep 17 | Wed | The Recording Process | Ch 2 | | 6 | Sep 19 | Fri | The Recording Process | Ch 2 | Ch 2 – Sept 21 | 7 | Sep 24 | Wed | Adjusting the Accounts | Ch 3 | | 8 | Sep 26 | Fri | Adjusting the Accounts | Ch 3 | Ch 3 – Sept 28 | 9 | Oct 1 | Wed | QUIZ #1 on Ch 1,2,3 | | | 10 | Oct 3 | Fri | Completion of the Accounting Cycle | Ch 4 | | 11 | Oct 8 | Wed | Completion of the Accounting Cycle | Ch 4 | | 12 | Oct 10 | Fri | Completion of the Accounting Cycle | Ch 4 | Ch 4 – Oct 12 | 13 | Oct 15 | Wed | Payroll & Sales Taxes | Ch 10/App B | Hand – in assignment #1 due Oct 15 | 14 | Oct 17 | Fri | Payroll & Sales Taxes | CH 10/App B | Ch 10 – Oct 19 |
| DATES | DAY | CONTENT AREA & OTHER NOTES | READINGS | Wiley Plus Deadlines | 15 | Oct 22 | Wed | MIDTERM | | | 16 | Oct 24 | Fri | Internal Control and Cash | Ch 7 | | 17 | Oct 29 | Wed | Internal Control and Cash | Ch 7 | Ch 7 – Nov 2 | 18 | Oct 31 | Fri | Accounting for Merchandising Operations | Ch 5 | | 19 | Nov 5 | Wed | Accounting for Merchandising Operations | Ch 5 | Ch 5 – Nov 9 | 20 | Nov 7 | Fri | Inventory Costing | Ch 6 | | 21 | Nov 12 | Wed | Inventory Costing/Subsidiary Ledgers | Ch 6/App C | Ch 6 – Nov 16 | 22 | Nov 14 | Fri | Accounting For Partnerships | Ch 12 | | 23 | Nov 19 | Wed | Accounting For Partnerships | Ch 12 | Hand –in assignment #2 -Nov 19 Ch 12 – Nov 23 | 24 | Nov 21 | Fri | QUIZ # 2 – Ch 7,5,6,App C | | | 25 | Nov 26 | Wed | Introduction to Corporations | Ch 13 | | 26 | Nov 28 | Fri | Introduction to Corporations | Ch 13 | Ch 13 – Dec 7 | | | | FINAL EXAM- cumulative Exam period December 3-12 SD02 writes their final exam on Wed, Dec 10th 9 – noon. SD01 writes their final exam on Wed, Dec 10th 1 – 4 pm LOCATION TBA | | | * This schedule is subject to change
