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Financial Accounting - John Newcome

Books - Textbook requirements for this course
Class Description - Brief class description
Chapter Outlines - Chapter outlines
Class Competencies - Link to class competencies.
Syllabus - Course syllabus detail
Grading - Grading scale and weight
Calendar - Estimated quarter progress
Homework - Specific due dates
Exams - Planned exam dates

Outlines

Select the desired chapter

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14

Syllabus - Financial Accounting - ACC 222

Quarter: Winter 2003

Instructor: John Newcome

Class Schedule: M, W, F (8:00 - 10:00)

Telephone: 425-235-7869
E-mail: jnewcome@rtc.ctc.edu

Web Page: http://www.rtc.edu/instruction/accounting/Class - Financial - Newcome.htm

Office Hours: Room H307 (7:30A-8:00A; 2:30P-3:00P)

Text: Financial & Managerial Accounting, 6th Edition, ITP-Warren Reeve Fess

Other Materials: Ledger Paper 2-column & 7-column, No. 2 or 2 ½ pencils, Eraser(s)

OBJECTIVE: To provide additional study of topics learned in Accounting I and II. Emphasis will be placed on the effect of transactions on company financial statements taken as a whole in addition to proper recording of transactions in general journal format. Additional subjects including Corporations, Bonds Payable and the Statement of cash Flow will also be covered. Successful completion of Accounting I and II, or equivalent level accounting courses is required. This is an advanced accounting course and assumes prior accounting knowledge.

MAKEUP POLICY:

Missed Assignments - Cannot make up

Missed Exams - “yes” under special circumstances

10% late fee

Make-up Exams - No make-ups allowed

Missing Time - “no”

TIMELINESS: Being on time is important on the job and in this class.

OTHER: Food or drink – not allowed per campus policy

Cell phones and beepers – turn off please

Classroom phones – for official campus employee business

Copier Use – for official campus employee business

Emergencies – use campus pay phones

Course Competencies

1. Identify and apply elements of Internal Control in accordance with GAAP.

2. Prepare all required computations and journal entries relating to cash and receivables in accordance with GAAP.

3. Compute cost of goods sold and ending inventory under various methods and estimate ending inventory balances in accordance with GAAP.

4. Calculate fixed asset book value using various depreciation methods and record all transactions relating to fixed assets in accordance with GAAP.

5. Compute valuation and prepare all required journal entries relating to long term liabilities and Bonds payable in accordance with GAAP.

6. Prepare all required journal entries to record various transactions relating to corporations and capital stock in accordance with GAAP.

7. Prepare a Statement of Cash Flows using the direct and indirect methods in accordance with GAAP.

Grading - Financial Accounting (Newcome)

The following standards are used for this class:

Grading Standards
Description	Percent of Grade
Chapter Exams (4)	90%
Homework	10%

Grades
Percentage Range	Letter
94% and over	A
90% but less than 94%	A-
87% but less than 90%	B+
84% but less than 87%	B
80% but less than 84%	B-
77% but less than 80%	C+
74% but less than 77%	C
70% but less than 74%	C-
67% but less than 70%	D+
64% but less than 67%	D
60% but less than 64%	D-
Less than 60%	F

Calendar - Financial Accounting (Newcome)

The following calendar is an approximation of the progress I expect from this class. However, each class seems to have its own characteristics - some move more quickly than others. Therefore, the actual schedule will adjust based on the class progress.

All listed assignments (Exercises and Problems) are due at the end of each chapter.

Wk#	Chap.	Topic
Wk#	Chap.	Topic	Problems
1	7	Receivables	1A, 2A, 3A, 4A, 5A, 6A
2	8	Inventories	1A, 2A, 4A, 5A
Exam 1, Chapters 7-8
3-4	9	Fixed Assets and Intangible Assets	1A, 3A, 4A, 5A, 6A
5	10	Current Liabilities	1A
Exam 2, Chapters 8-10
6-7	11	Corporations: Organization, Capital Stock, Dividends	1A, 2A, 4A, 5A
7-8	12	Corporations: Income taxes, Stockholders' Equity, Investments	1A, 2A, 3A, 4A
8-9	13	Bonds Payable, Investments in Bonds	2A, 3A, 4A, 6A
Exam 2, Chapters 6, 7, 8 & 9
10-11	14	Statement of Cash Flows	1A, 3A, 4A, 5A
Exam 3, Chapters 10 - 15

Homework/Exam Dates - Financial Accounting (Newcome)

First - Please refer to the class Syllabus. All problems and exercises are due by the end of each chapter.

Second - See the calendar below for specific due dates. REMEMBER - even though a problem may not be specifically noted on the following calendar, it is still due by the end of the chapter.

Week# Monday Wednesday Friday

1 Orientation, Syllabus
Assign.

2
Assign.

3
Assign.

4
Assign.

5
Assign

6
Assign

7
Assign.

8
Assign.

9
Assign.

10
Assign.

11
Assign.