SYLLABUS
Course Number: ACC 102 – Section: Online Course Title: Accounting Principles II
Credit Hours: 3.0
Prerequisite: ACC 101 – Accounting Principles I with a grade of “C” or higher.
Catalog Course Description: This course emphasizes managerial accounting theory and practice in basic accounting and procedures for cost accounting, budgeting, cost-volume analysis, and financial statement analysis. The corporate form of business, as well as equity and debt financing are included.
Purpose of the Course: The purpose of this course is to introduce the student to the basic principles and procedures of corporate accounting; to introduce analysis of general-purpose financial statements; to introduce the cost flow concepts of manufacturing accounting; and to introduce managerial accounting including cost-volume-profit analysis and budgeting.
Optional Materials:
http://highered.mcgraw-hill.com/sites/0072996536/student_view0/index.html
In the left panel of the website, click on the down arrow to the right of the “Choose one” option. Click on any chapter to display the available supplements. Many of you will find the “Interactive Quizzes”, “Flashcards”, and “Video Segments” to be helpful supplements for this course.
Students for Whom the Course is Intended: This course is intended for those students who want to transfer credit to a 4-year college, those who want to work toward an Associate Degree in Business with an emphasis in Accounting, those who want to earn a Certificate in Accounting, and those who want to learn more about accounting.
Note: Although this course is taught for College Transfer, it may not have been articulated for transfer to the college of your choice. Please check with your College Transfer counselor should you have any questions about the transferability of this course.
Instructor’s Name: Lyle C. Frazer Instructor’s Office: ET – 342 Telephone Number: 250-8676
Office Hours: Hours are posted on my office door and I am available upon request.
Email Address: I am available within Web-Ct (Monday - Saturday) or lyle.frazer@gvltec.edu
Mailing Address: Lyle C. Frazer, 301 Quail Run Circle, Fountain Inn, SC 29644-1409
Approved by: Department Head May 12, 2008
Approved by: Dean, Business and Public Service Division May 12, 2008
Learning Objectives: Students who are successful with this course, through completion of appropriate exercises within accepted time limits, will accomplish the following objectives without the aid of references with a minimum competency of 70 percent:
Student Learning Objectives – Chapter 13
C1. Identify characteristics of corporations and their organization.
C2. Describe the components of stockholders' equity.
C3. Explain characteristics of common and preferred stock.
C4. Explain the items reported in retained earnings.
A1. Compute earnings per share and describe its use.
A2. Compute price-earnings ratio and describe its use in analysis.
P1. Record the issuance of corporate stock.
P2. Record transactions involving cash dividends.
P3. Account for stock dividends and stock splits.
P4. Distribute dividends between common stock and preferred stock.
P5. Record purchases and sales of treasury stock and the retirement of stock.
Student Learning Objectives – Chapter 14
C1. Explain the types and payment patterns of notes.
C2AExplain and compute the present value of an amount(s) to be paid at future date(s).
A1. Compare bond financing with stock financing.
A2. Assess debt features and their implications.
A3. Compute the debt-to-equity ratio and explain its use.
P1. Prepare entries to record bond issuance and bond interest expense.
P2. Compute and record amortization of bond discount.
P3. Compute and record amortization of bond premium.
P5. Prepare entries to account for notes.
Student Learning Objectives – Chapter 17
C4. Identify the tools of analysis.
A1. Summarize and report results of analysis.
P1. Explain and apply methods of horizontal analysis.
P2. Describe and apply methods of vertical analysis.
P3. Define and apply ratio analysis.
Student Learning Objectives – Chapter 18
C1. Explain the purpose and nature of managerial accounting.
C2. Describe the lean business model.
C4. Define product and period costs and explain how they impact financial statements.
C5. Explain how balance sheets and income statements for manufacturing and merchandising companies differ.
C6. Explain manufacturing activities and the flow of manufacturing costs.
P1. Compute cost of goods sold for a manufacturer.
P2. Prepare a manufacturing statement and explain its purpose and links to financial statements.
Student Learning Objectives – Chapter 19
C2. Describe important features of job order production.
C3. Explain job cost sheets and how they are used in job order cost accounting.
P1. Describe and record the flow of materials costs in job order cost accounting.
P2. Describe and record the flow of labor costs in job order cost accounting.
P3. Describe and record the flow of overhead costs in job order cost accounting.
P4. Determine adjustments for overapplied and underapplied factory overhead.
Student Learning Objectives – Chapter 21
C2. Distinguish between direct and indirect expenses.
C3. Identify bases for allocating indirect expenses to departments.
A1. Analyze investment centers using return on total assets.
P1. Assign overhead costs using two-stage cost allocation.
P2. Assign overhead costs using activity-based costing
P3. Prepare departmental income statements.
P4. Prepare departmental contribution reports
Student Learning Objectives – Chapter 22
C2. Identify assumptions in cost-volume-profit analysis and explain their impact.
C3. Describe several applications of cost-volume-profit analysis.
A2. Compute contribution margin and describe what it reveals about a company’s cost structure.
P2. Compute break-even point for a single product company.
Student Learning Objectives – Chapter 23
C1. Describe the importance and benefits of budgeting.
C3. Describe a master budget and the process of preparing it.
P1. Prepare each component of a master budget and link each to the budgeting process.
P2. Link both operating and capital expenditures budgets to budgeted financial statements.
Student Learning Objectives – Chapter 24
C2. Describe variances and what they reveal about performance.
A2. Analyze changes in sales from expected amounts.
P1. Prepare a flexible budget and interpret a flexible budget performance report.
P2. Compute materials and labor variances.
P3. Compute overhead variances.
Student Learning Objectives – Chapter 25
A2. Analyze a capital investment project using break-even time.
P1. Compute the payback period and describe its use.
P2. Compute accounting rate of return and explain its use.
P3. Compute net present value and describe its use.
Beliefs About Educational Purpose: Accounting 102 goes beyond the service/merchandising proprietorship. This course has a two-fold purpose – to introduce the corporate structure and to introduce managerial accounting. Because most businesses are incorporated, the business student needs knowledge of the corporate capital structure and the vocabulary, which differentiates the corporation from other business organizations. With this knowledge, the student will begin to understand information in business periodicals and news reports. Managerial accounting introduces manufacturing accounting and cost management.
Competencies: The Accounting Department has developed program competencies that the student should acquire by completing the accounting curriculum. Upon completion of this course, the student can
1. Demonstrate proficiency in applying the balance sheet equation to analyze any business transaction. Proficiency is defined as the ability to determine which Asset, Liability, and Equity accounts are increased or decreased by the transaction.
2. Demonstrate proficiency in journalizing and summarizing financial data that is stated in measurable terms.
3. Prepare an income statement (with extraordinary items) for a corporation. Preparation means that the student has a basic understanding of each item that appears on the financial statement.
4. Demonstrate knowledge of managerial accounting by preparing reports, such as budgets and cost-volume-profit analysis.
College-Wide Student Learning Outcomes: The College has developed learning outcomes of which all students must demonstrate proficiency for graduation. Learning outcomes that relate to ACC 102 are
01. Communication--the ability to read, write, speak, listen, and use nonverbal skills effectively with different audiences.
02. Information Technology and Technological Literacy--the ability to operate a computer efficiently and demonstrate proficiency in computer applications specific to the student’s field of study.
03. Reasoning--the ability to apply the scientific method, mathematical processes, and research skills to solve problems.
04. Professionalism and Personal Responsibility--the ability to exhibit conduct, attitudes, and etiquette appropriate to the student’s community and chosen career; the ability to manage time, to use effective interpersonal skills, and to display responsible behavior.
05. Diversity--the ability to recognize diversity and to demonstrate respectful conduct and attitudes toward those of differing gender, culture, ethnicity, language, religion, sexual orientation, social class, and age, as well as toward those with disabilities; the ability to understand how global issues impact life, work, and opportunities.
|
Chapter |
Major Topics Refer to the specific Learning Objectives previously listed. |
|
13 |
Accounting for Corporations |
|
14 |
Long-Term Liabilities |
|
17 |
Analysis of Financial Statements |
|
18 |
Managerial Accounting Concepts and Principles |
|
19 |
Job Order Cost Accounting |
|
21 |
Cost Allocation and Performance Measurement |
|
22 |
Cost-Volume-Profit Analysis |
|
23 |
Master Budgets and Planning |
|
24 |
Flexible Budgets and Standard Costs |
|
25 |
Capital Budgeting and Managerial Decisions |
Method of Instruction: Accounting Principles II is learned by studying online lessons, reading text assignments, working through homework assignments, successfully completing examinations, and contacting your instructor via email through Web-Ct anytime you have ANY questions.
Homework Assignments: Problems and exercises from each chapter will be assigned. Completion of the homework assignments is a must to master the skills presented in the class. Good accounting skills can be acquired only through study of the text materials and by applying the principles presented through problem solving. Accounting is learned by doing accounting, not by trying to memorize accounting. Students should endeavor to work through and understand all assigned homework. After you have completed your homework assignment, you can compare your answers to the Key Answers provided by your instructor. You are NOT required to deliver your homework assignments to your instructor.
Participation (Discussion Assignments): Beginning Friday, May 16, 2008, you will be assigned ten (10) Discussion Assignments. These assignments will require you to apply the skills you have acquired in the current or preceding chapters. They will be delivered to the Assessments Folder in Web-Ct and they will always be DUE on Wednesday following the week they are made available to you. Each of these ten (10) Discussion Assignments will count for 1% of your final grade. GTC and the Distance Education Department use these to track “attendance and participation”. These items can NOT be “made-up” and I am NOT permitted to grant any “partial credit”.
Exams 1: This exam will cover chapters 13-14. It will be composed of approximately 40 multiple choice questions. It will be available in the Assessments Folder through Web-Ct for 72 hours and you will have two hours to complete it.
Mid-term Exam: The mid-term exam will cover chapters 13-14 and 17-19. It will be composed of approximately 40 multiple choice questions. It will be available in the Assessments Folder through Web-Ct for 72 hours and you will have two hours to complete it.
Exams 3: This exam will cover chapters 21 and 22. It will be composed of approximately 40 multiple choice questions. It will be available in the Assessments Folder through Web-Ct for 72 hours and you will have two hours to complete it.
Final Exam: COMPREHENSIVE FINAL EXAMINATION. Chapters 13-14, 17-19, and 21-25. No exemptions are permitted. It will be available for TWO days and it will be proctored at the GTC Testing Center on the Barton Campus. The final exam will be closed book and you will have two and one-half hours to complete it. You will be required to present a photo-id when you take the final exam. It will be composed of 50 multiple choice questions.
Testing Devices: Tests/examinations may include any of the following: Multiple choice, Completion, General Journal, Short essay, Short problem solving, True/False, and Other problems
Grading: Your final grade will be based on the following percentages:
|
Requirement |
Weight |
Percent of Total Grade |
|
Discussion Assignments |
1% for each of 10 assignments |
10% |
|
Exam 01 Online |
10% |
10% |
|
Mid-term Online |
35% |
35% |
|
Exam 03 Online |
10% |
10% |
|
Final Exam (GTC Testing Ctr.) |
35% |
35% |
|
|
Total |
100% |
Your final grade is based on the following percentages as listed above:
|
Letter Grade |
Percentage |
|
A |
90-100 |
|
B |
80-89 |
|
C |
70-79 |
|
D |
65-69 |
|
F |
0-64 |
Policy for being awarded an Incomplete (grade of I).
Only under unusual and extenuating circumstances will a student be awarded a grade of I. The following conditions must be in place for a student to receive an I:
1. The circumstances must occur unexpectedly after the student’s last date to withdraw from the course without penalty.
2. The student must provide appropriate documentation concerning why he/she cannot complete the requirements of the course within the specified time frame.
3. The student has at least a C average in the class when the circumstances arise.
The student must complete the requirements of the course in which he/she received the I at least 10 school days before the end of the following semester. Students will not be reminded of the I. The student is responsible for contacting the instructor of the class and making arrangements to satisfy the requirements for removing the I. Students who do not meet the time requirement or course requirements will receive a grade of F for the course. The student cannot register to retake the course until he/she has received a letter grade, other than the I. A grade of I does not affect grade-point calculations.
Grade Requirements for ACC 102.
Accounting majors (degree and certificate) must earn a grade of C or better in ACC 102 to meet graduation requirements. Transfer students must earn a grade of C or better in ACC 102 to meet transfer requirements. To enroll in ACC 201, students must earn a grade of C or better in ACC 102.
Expiration of college credit earned: Semester-hour credit earned for college courses taken may expire within five (5) years. Credit earned in Acc 101 will expire in five years from the time that the semester hours are earned.
Make-up tests: Make-up tests are given at the end of the semester. Make-up tests will be similar to original tests, but not the same test as the original. The student may make up no more than one test. If the student misses more than one test, those tests will be assigned a grade of zero. Since make-up tests are considered to be extraordinary, the student must provide a documented reason for having missed a testing session to be eligible to make up a missed test. The make-up test may be graded subject to as much as a ten-point discount!
Cheating Policy: It is important for the student to present his/her work for grading purposes. Presenting the work of another for one's own graded activities constitutes cheating. When there is evidence of student cheating, the Accounting Department will follow school policy as stated in the current Greenville Tech catalog.
Withdrawals: Greenville Tech Office of Student Records no longer grants a one-time forgiveness to students who fail to drop or withdraw from their classes. Students will not be purged from the system; it is the student’s responsibility to initiate the proper paperwork to drop or withdraw from classes. Failure to attend classes does not constitute proper procedure for dropping or withdrawing from classes and may result in financial penalty. Dates for add/drop and dates for withdrawal from unwanted classes will be strictly enforced. No exceptions will be made. Students should refer to the current Greenville Tech catalog or the college website www.greenvilletech.com for more information on this policy.
Enrollment purges: Students with incomplete registration are purged frequently during the last days of registration. Registered students, who are not protected from the purge, must complete a Do Not Purge form prior to purge deadline dates. Without having completed this form, students are purged from class rosters during this period.
Withdrawal Dates: If the student decides to discontinue with a class, the student must formally withdraw from the class. Failure to do so will result in a failing grade (F) on the transcript. It is the student’s responsibility to initiate the withdrawal.
Last day of add/drop (this class): May 16, 2008.
The last day to withdraw from (this class) without penalty: June 27, 2008.
Failing grades cannot be removed form the transcript, even by repeating the course.
Section Changes: Students cannot change sections at will after the last day of add/drop. Any section change must be the result of changes in the student’s circumstances and such changes will be effected only after receipt of appropriate documentation.
Appeal For Late Withdrawal: Withdrawal from a course is the student’s responsibility. Withdrawal dates are listed in college publications as well as on course syllabi. Withdrawal dates are strictly enforced and late withdrawals are considered only when certain situations—extenuating or medical--occur. To be considered for late withdrawal, the student must submit a course update form and authoritative documentation to support this request to the Student Records office. Representatives from this office will make a decision whether the student can be withdrawn without penalty.
Greenville Technical College Policy for Repeating a Course: A student may register for this course a maximum of three times. W’s, F’s, and, D’s count toward the maximum of three registrations, as well as registration for the course without having attended. Students should refer to the current Greenville Tech catalog for more information on this policy.
Business Division Policy Pertaining to Academic Matters: If a problem should arise pertaining to this course or any other academic matter during the semester, you should consult your instructor first. If further assistance is needed after this consultation, your instructor will make an appointment for you with the department head. If the problem is not resolved, the department head will make an appointment for you with the appropriate person at the next level. Greenville Tech has a zero-tolerance policy for accusing or harassing an instructor.
Resources for success:
1. The textbook and the textbook web site.
2. Solutions posted on the internet.
3. Student Tutoring Service available through Student Services, located upstairs in the Student Center.
4. Access to me via Web-Ct's email. I check for messages Monday - Saturday.
Suggestions For Success: Although the responsibility for learning rests upon the student, the Accounting faculty is always available to provide assistance. Each student should realize that accounting courses are very rigorous and require assignments. Because the Accounting faculty wants every student to be successful, they have provided suggestions and resources for the students to use to increase the likelihood of success.
1. Regular and conscientious logging in to Web-Ct.
2. Self-motivation. Self-motivation includes the desire to learn when reading lessons and textbook material. Note taking and highlighting portions of the lessons and textbook are included in motivation.
3. Conscientious study of text material. We read a newspaper or a magazine; we do not read accounting. Studying requires more than reading. Studying requires highlighting, margin notes, margin questions, review of lesson notes, and review of text material.
4. Conscientious preparation of all written assignments.
5. By being prepared and motivated, you increase your ability for success in the course.
6. Use available resources as needed. The student must make the effort to use these resources.
7. Practice time management. Because accounting courses are preparation intensive, students must practice time management. This course requires preparation and may require that the student use additional resources for success. Each semester students comment that they do not have time to use the suggestions/resources to be successful. If they do not have time to be successful, when would they have time to retake the course?
Attendance/Correspondence/Communications: Attendance in an online course is defined by correspondence as required by the instructor. One contact per week is the minimum requirement. Students not meeting the minimum attendance/correspondence requirement will be awarded a grade of "W" or "WF" based upon the student's academic standing at the last date of attendance/correspondence. E-mail through WebCT will be the primary means of communication. It is the student’s responsibility to check his/her email regularly. The instructor strongly encourages communication via e-mail, especially when the student is having difficulty answering a question or solving an exercise or a problem. For your instructor to help you effectively, please provide as much information as possible concerning the difficulty you are having with the assignment.
Student Code: The student is to be knowledgeable of the Greenville Tech Student Code. The Code can be found on the GTC web site at http://greenvilletech.com/admissions_assistance/student_policy.shtml. Click on Admissions Assistance, click on Student policy. This code is also in the current Greenville Tech catalog.
Students with disabilities: All students who have a disability and need accommodations should visit, call, or e-mail Student Disability Services at the beginning of each semester. Students are strongly encouraged to obtain their accommodation forms within the first 2 weeks of class to ensure appropriate services. The office is located at the Barton Campus in the Student Center (Building 105), Room 124, and can be reached by phone at 250-8202 or 250-8408 or by email at sharon.bellwood@gvltec.edu. The Disability Service Counselor is available to meet with students on satellite campuses by appointment.
Crisis Intervention Office: Their services are available to the entire student body and include confidential professional counseling as well as resources and referrals to agencies. All this is to help student retention and to provide assistance in time of crisis. The crisis intervention office is Barton Campus, building 105/room 140. Jackie Bradham is the licensed counselor and can be reached at jackie.bradham@gvltec.edu or by phone at 250-8176 or 250-8318. Their office hours are from 7:00 a.m. until 3:00 p.m. Monday through Thursday and 7:00 a.m. until 1:00 p.m. on Fridays. They can schedule appointments around a student’s schedule if necessary.
The Career Center: The Career Direction Center and the Employment Assistance Office have been combined to form the Career Center located in Rooms 25 and 26 of the ARC. The Career Center provides career testing, career counseling, and employment assistance. If you are undecided about your future and what you should chose as a major, the Career Center can administer the Kuder Career Assessment to help you to make a wise choice. The Career Center can administer this assessment online.
Career counseling, resume critiques, and mock interviews are available by appointment. Students and alumni may search for jobs using the online service called Career Central, found on Campus Cruiser and at www.Greenvilletech.com.
Office hours are 8:00 to 5:00 Monday through Wednesday, 8:00 to 7:00 on Thursday, and 8:00 to 1:00 on Friday. For information, contact Betty Vaughn at 250-8139 or 250-8222.
Cooperative Education: To assist students in their search for part-time employment in their fields of study, the faculty encourages you to contact the Cooperative Education office in the Engineering Technology Building, Office 117. You may contact Susan Gasque at 250-8105 or susan.gasque@gvltec.edu.
Academic Forgiveness: Under special circumstances, the student can apply for academic forgiveness. Contact student records for more information.
Healthful, Safe, And Secure Education Environment: The South Carolina Technical College System prohibits the unlawful manufacture, distribution, dispensation, possession or use of narcotics, drugs, other controlled substances and the use of alcohol in the educational setting. Unlawful means in violation of federal/state/local regulations, policy, procedures, rules, as well as legal statutes. The educational setting includes both institutional premises or in approved educational sites off campus. Please refer to the current Greenville Tech catalog for additional information.
Non-Discrimination Policy: Greenville Technical College provides equal opportunity and affirmative action in education and employment for all qualified persons regardless of race, color, religion, sex, national origin, age, disability, sexual orientation, or veteran status.
The following lab rules are in addition to those mandated by the college as outlined in the Computing Facilities Use Policy (College Catalog/Student Handbook, pages 56-57). By signing the Syllabus Acknowledgement Form for this course, you agree to follow all of the guidelines specified by both the college and the division. Failure to comply with all computer policies will result in the loss of privileges involving campus computer facilities.
· Children are not allowed in labs and classrooms nor left in hallways (College Catalog/Student Handbook, page 56).
· Food and drinks are not allowed in computer labs.
· Labs are to be used only for students enrolled in Computer/Business Program courses and for educational purposes only and may not be used for commercial or personal purposes.
· A Student ID is required. You may be asked to show your student ID and also a copy of your current class schedule.
· You must log into the computer when you arrive. You will enter your first and last names and your CampusCruiser ID. You will then receive a listing of courses for the current semester, and you will need to select the course for which you are completing work. Remember to log out of the computer before you leave the computer and the lab.
· Inappropriate or unethical use of the Internet is strictly prohibited (i.e., chat rooms, pornographic web site access, etc.) On the first offense, a written warning will be issued. Lab privileges will be revoked upon the second offense.
· Printing in the Business Division Student Lab is now available. Students will need to purchase a pay-to-print card (one is located in the lab), and the student will be charged per page for printing. Printing from the Internet is allowed; however, all regulations regarding the use of the Internet also apply to printing from the Internet.
· Printing in the lab classrooms may only be done at the request of the instructor during class time. Then only one copy of the final assignment may be printed for submission. No other printing is permitted in these labs.
· Lab assistants are on duty to handle hardware/software problems; they do not providing tutoring.
· The Lab Assistant’s office and telephone are not to be used by students; a pay phone is located in the canteen.
· All equipment malfunctions are to be reported to the lab assistant; do not attempt repairs.
· Labs are closed to all students during exam days (except for scheduled exam use), holiday breaks, and between semesters.
· Copying of any software programs and applications which are licensed or protected by copyright is theft.
· Copying of computer programs, documents, spreadsheets, databases, presentations, computer codes, etc. is not tolerated.
· You must keep the labs neat and clean by picking up after yourself.
· Labs are occasionally reserved for classes; adhere to posted signs.
· You must leave the lab and/or classroom to answer or return cell phone calls. Please put your cell phone on manner-mode or vibrant when in the lab and/or classroom; disruptive and loud ring tones are not acceptable. Students may be asked to change inappropriate ring tones that are disruptive to the learning environment in the lab and/or classroom.
· The lab assistant may be asked to perform corrective activity for a disk, but it is done so at your own risk with no guarantees that data will not be lost.
· Loading of ANY software onto campus computers is prohibited.
· Internet downloading is prohibited!
· Use of personal laptops is not permitted in the lab. Only computers owned by the College may be plugged into any College network.
· Instant messaging is prohibited.
· All students must use the Business Division Student Lab to complete work outside of the scheduled course times. Students will not be allowed to remain in the classroom to complete work after the class is over. Instructors will ask all students to leave the classroom and report to the Student Lab if they desire to continue working on a computer.
The Business Division Student Lab is located on the Barton Campus in the Engineering Building (103), Room 115.
You will be required to sign in and out when using this lab. Be sure to keep your student ID and class schedule with you; you may be asked to show your current student ID and/or your current class schedule.
Lab Hours: Monday – Friday 8:00 am to 9:00 pm ▪ Saturday 8:00 am to 1:00 pm ▪ Sunday Closed
Revised 03/14/08 The entire syllabus is subject to change as GTC administration releases directives.
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