Introduction to Financial Accounting
Books - Textbook requirements for this course
Calendar - Estimated quarter progress
Class Competencies - Link to class competencies.
Class Description - Brief class description
Course Progression - Clerk - Link to course progression for Clerk program
Course Progression - Paraprofessional - Link to course progression for Paraprofessional program
Course Progression - Specialist - Link to course progression for Specialist program
Exams - Planned exam dates
Grading - Grading scale and weight
Homework - Specific due dates
Practice Exams - Link to practice exams
Syllabus - Course syllabus detail
Syllabus – Intro to Financial Accounting - ACC 110
5 credits
Quarter:
Spring
2010
Instructor:
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.
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
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
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Grading Standards |
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Description |
Percent of Grade |
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Chapter Exams |
80% |
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Homework |
10% |
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Quizzes/Exam Previews |
10% |
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Grades |
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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% |
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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 |
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#1 |
Orientation |
Registration, Intros |
Ch 1 - begins |
Ch 1 - Continued |
Ch 1 - continued |
|
#2 |
Ch 2 - Begins |
Ch 2 - continued |
Ch 2 - Trial Balance |
Ch 2 - Financial Statements, errors |
Extra day |
|
#3 |
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 |
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#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 |
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#13 6/28- |
Finals Week Schedule |
Finals Week
Schedule |
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