Introduction to Financial Accounting

  

 
Syllabus – Intro to Financial Accounting - ACC 110
5 credits

Quarter:  Spring 2010
Instructor:  Curt Holman
Class Schedule:
 M-F, 9:00 – 11:00; Room H311        
Telephone:  425-235-7870

E-mail: cholman@rtc.edu  

Web Page:  http://www.rtc.edu/instruction/Accounting/welcome_page.htm

Office Hours: Room H309 (7:30A-8:00A; 2:30P-3:00P)

Text: 

1.     Financial Accounting by Joe Ben Hoyle, C. J. Skender - adapted by Curt Holman;
ISBN:0-9823618-3-1-94514. This text can be accessed for free online at
https://www.flatworldknowledge.com/cholman/introduction-financial-account or can be found through www.flatworldknowledge.com and click “Find my Class”

2.     Intro to Financial Accounting, Chapter Outlines 8th edition, by Curt Holman
or can be found/downloaded in 2 parts through  
http://media.waol.org/7671/Intro-outlines1-9-8th.docx 
and
http://media.waol.org/7671/Intro-outlines10-13-8th.docx

Other Materials: Pencils & Eraser(s)

OBJECTIVE: This is a course in the fundamentals of accounting.  Through a series of in-depth problems, you will learn the fundamentals of the accounting cycle for a service business, and the accounting cycle for a merchandise business using special journals, and budgeting. Upon successful completion of this course you will be ready to move on to Principles of Accounting I.

MAKEUP POLICY: 

Missed Assignments - only under special circumstances. Not automatically permitted.

Missed Exams - the general rule is "no", I want you to focus on the future, not the past.

MISSING TIME: It is a student's responsibility to find out from other students what information or
assignments were "missed" and if necessary to create a "catch up" plan. For Financial Aid purposes, some attendances can be made up (see your instructor). Attendance may be taken at anytime during the period. If you come in late or leave early, it is your responsibility to immediately notify your instructor on that day.

TIMELINESS:    Being on time is important on the job and in this class. Not only is tardiness disruptive to the classroom, the skills and habits you develop now will directly affect your future employability. The two most commonly asked questions by potential employers concern attendance and attitude!

DISABILITY: If you are a student that has a mental or physical disability that substantially limits your ability to learn, it is recommended that you contact the Special Populations counselor in Student Services, Bldg I Room 225. The information acquired during a visit with the Special Populations Counselor is confidential and could be used to help you succeed in your program. Renton Technical College is very interest in your success.

INTERNET ASSIGNMENTS:  This course will have on-line quizzes, homework checks & tests. You will need to “log in” to Moodle and then select your course.

Logging In: From the Accounting web page select the specific link “Moodle”. Follow the instructions to log in.

OTHER: Food or drink – not allowed, Cell phones and beepers – turn off, no smoking.


CODE OF CONDUCT

 

CLASSROOM BEHAVIOR: 

As much as possible, you will be treated as though you are an employee; therefore, our expectations are that you conduct yourself in a professional manner. Unprofessional, inappropriate and disruptive behavior will not be allowed.

 

EXAMPLES OF INAPPROPRIATE AND/OR DISRUPTIVE BEHAVIOR:

CONSEQUENCES OF DISRUPTIVE BEHAVIOR:

Consequences* of disruptive behavior can be, but is not limited to:

* refer to student handbook


Course Competencies

1.     Record a group of business transaction, in column form, involving all five elements of the fundamental accounting equation according to GAAP  

2.     Prepare in proper format an income statement, statement of owner’s equity, and a balance sheet according to GAAP.

3.     Record transactions pertaining to service type and merchandising enterprises in a general journal and special journals, posting to the general ledger and special ledger accounts per GAAP.

4.     Complete a worksheet recording and posting adjusting, closing, and reversing entries for a service and a merchandising business per GAAP.

5.     Define banking terms and complete a “bank reconciliation”, recording required journal entries according to GAAP.

6.     Establish and use a petty cash and change fund, recording journal entries according GAAP.

 

Grading Standards - Intro to Financial Accounting

Grading Standards

 

Description

Percent of Grade 

 

Chapter Exams 

80%

 

Homework

10%

 

Quizzes/Exam Previews

10%

 

Grades

 

 

Decimal

Letter

Percentage

 

Decimal

Letter

Percentage

 

4.0

A

 98.0% and over

 

1.9

C-

 73.0% but less than 74.0%

 

3.9

A

 94.0% but less than 98.0%

 

1.8

C-

 72.0% but less than 73.0%

 

3.8

A-

 93.0% but less than 94.0%

 

1.7

C-

 71.0% but less than 72.0%

 

3.7

A-

 92.0% but less than 93.0%

 

1.6

C-

 70.5% but less than 71.0%

 

3.6

A-

 91.0% but less than 92.0%

 

1.5

C-

 70.0% but less than 70.5%

 

3.5

A-

 90.0% but less than 91.0%

 

1.4

D+

 69.0% but less than 70.0%

 

3.4

B+

 89.0% but less than 90.0%

 

1.3

D+

 68.0% but less than 69.0%

 

3.3

B+

 88.0% but less than 89.0%

 

1.2

D+

 67.0% but less than 68.0%

 

3.2

B+

 87.0% but less than 88.0%

 

1.1

D

 65.0% but less than 67.0%

 

3.1

B

 86.0% but less than 87.0%

 

1.0

D

 64.0% but less than 65.0%

 

3.0

B

 85.0% but less than 86.0%

 

0.9

D-

 62.0% but less than 64.0%

 

2.9

B

 84.0% but less than 85.0%

 

0.8

D-

 61.0% but less than 62.0%

 

2.8

B-

 83.0% but less than 84.0%

 

0.7

D-

 60.0% but less than 61.0%

 

2.7

B-

 82.0% but less than 83.0%

 

0.0

F

  less than 60.0%

 

2.6

B-

 81.0% but less than 82.0%

       

 

2.5

B-

 80.0% but less than 81.0%

       

 

2.4

C+

 79.0% but less than 80.0%

       

 

2.3

C+

 78.0% but less than 79.0%

       

 

2.2

C+

 77.0% but less than 78.0%

       

 

2.1

C

 75.0% but less than 77.0%

       

 

2.0

C

 74.0% but less than 75.0%

       

 

Calendar/Homework/Exam Dates - Intro to Financial Accounting

Spring Quarter 2010 – Introduction to Financial Accounting

The following calendar of events is an approximation only and may be changed at any time.

All assignments (Exercises and Problems) listed in your course outline text are due when assigned or at the end of the chapter (whichever is sooner).

Week

Monday

Tuesday

Wednesday

Thursday

Friday

#1
4/5-

Orientation

Registration, Intros

Ch 1 - begins

Ch 1 - Continued 

Ch 1 - continued

#2
4/12-

Ch 2 - Begins

Ch 2 - continued

Ch 2 - Trial Balance

Ch 2 - Financial Statements, errors

Extra day

#3
4/19-

Exam #1 Preview

Study for Exam

Exam #1 - Ch 1 & 2

Ch 3 - begins

Ch 3 – thru chart of accounts

Ch 3 - posting

#4

4/26- 

Ch 4 – worksheet intro

Ch 4 – adjustments thru depreciation

Ch 4 – complete payroll

Ch 4 – complete worksheet

Ch 5 – closing

#5

5/3- 

Ch 5 – continued

Ch 5 – continued

Exam #2 - Preview

Exam #2 - Ch 3, 4 & 5

Ch 7 – Terms begin

#6

5/10- 

Ch 7 – Terms end

Ch 7 – steps in reconciliation

Ch 7 – petty cash

Ch 8

Ch 8

#7

5/17- 

Ch 8

Ch 8

Ch 9

Ch 9

Ch 9

#8

5/24-

Extra day

Exam#3 - Preview

Exam #3, Ch 7,8,9

Ch 10 - Begins

Ch 10 – sales journal, sub ledger

#9

5/31-

Holiday

Ch 10 – sub ledger posting, sales R & A

Ch 10 – R & A Problem Alt invoice method

Ch 10 – purchase procedure

Ch 10 – AP sub ledger

#10

6/7-

Ch 11 - begins

Ch 11 – class problem

Ch 11 – cash payments

Exam #4 Preview

Exam #4 - Ch 10, 11

#11

6/14-

Ch 12 - begins

Ch 12 – adjustments

Ch 12

Ch 13 – begins Exam

extra

#12

6/21-

extra

Exam Preview

Finals Week Schedule

Finals Week Schedule

Finals Week Schedule

#13

6/28-

Finals Week Schedule

Finals Week Schedule
1/2 day for Students