ACCOUNTING PRINCIPLES I - ACC 204 – SUMMER 2006
Instructor: M. A. Houston Class hours: 12:20 to 2:00 pm MTWR (162 R)
Office: 775-2390, 208B Rike Hall
Department: 775-2377, 240 Rike Hall Office hours: 9:30 to 10:15 am MTWR
E-mail: firstname.lastname@example.org 2:00 to 2:45 pm MTWR
Web page: www.wright.edu/~maggie.houston 5:00 to 5:50 pm TR
and by appointment
This is the first course in the Accounting Principles sequence. The primary emphasis is to develop an
understanding of business and the role accounting plays in supporting business decisions. It is designed to
introduce students to accrual accounting and the preparation and analysis of external financial reports.
Students work in teams throughout the quarter to develop effective communication skills and the professional
characteristics necessary to work effectively with others to define and solve financial problems. This course is
the foundation for later courses in business and the course work leading to a career in accounting.
COURSE LEARNING OBJECTIVES
Upon completion of this course students should understand:
1. The role of accounting in providing information that is useful in making economic decisions and the
qualitative characteristics of useful accounting information.
2. GAAP and the underlying assumptions, principles and conventions.
3. The financial statement elements and the relationships among financial statement elements.
4. The effect of business transactions on financial statements as measured using the accrual basis of
5. The recording process.
6. How to prepare and interpret financial statements for service and merchandising companies
organized as corporations.
7. The measurement issues and reporting requirements for assets.
TEXT AND MATERIALS
Principles of Accounting, Tools for Decision Making; Kimmel, Weygandt, Kieso; Wiley
During the quarter supplemental course materials may be posted to: www.wright.edu/~maggie.houston
CLASS STRUCTURE AND TEACHING METHODOLOGY
Class time will consist of a variety of activities to include lecture, discussion, case analysis, and problem
solving. You will be assigned to a team for in-class group activities.
ATTENDANCE AND CLASSROOM DECORUM
Attendance and participation are critical to your success in this course. Students are expected to demonstrate
professional behavior in the classroom. Professional behavior includes, but is not limited to, arriving on time,
staying for the entire class, and refraining from using electronic communication devices such as cell
phones and pagers. Students disrupting the class may be asked to leave.
Activity Points Grading scale
Midterm exam 100 A 90-100%
Final exam – comprehensive 140 B 80-89%
Quizzes (best two of three) 60 C 70-79%
Homework and graded activities 40 D 60-69%
Total 340 F under 60%
All material covered in the course including assigned readings, class activities, class discussions, lectures,
and problems may be covered on the exams. The exams will consist of various types of questions and
problems to include, but not limited to, multiple-choice questions, short answer questions, and problems.
The format of each exam will be determined by the material covered and may vary from exam to exam.
Make-up exams will be given only if there is a justifiable excuse. Justifiable excuses include, but are not
limited to, a death in the family or a serious illness. If possible, please notify the instructor of your absence
prior to the exam.
Three quizzes will be given throughout the quarter. Quizzes are designed to test student’s mastery of
selected topics and help students prepare for exams. No make-up quizzes will be given. The lowest
quiz grade will be dropped.
Be sure to review the multiple choice questions at www.wiley.com/college/kimmel. These questions
provide an opportunity to practice your skills before quizzes and examinations.
You are not permitted to use graphing calculators, cell phones, or personal digital assistants
(PDAs) during quizzes or exams. Do not wear hats and caps with bills and brims during quizzes or
exams. Keep your work covered at all times during quiz and exam periods.
The solutions to the assigned homework problems are on electronic reserve at http://www.libraries.wright.edu/.
Separate handouts on the instructor’s web page provide information about the two graded activities
The graded activities are individual activities and require that each student complete his/her own work.
For example, it is not acceptable to print a single computer file with minor changes and submit it
with different names. All assignments are due at the beginning of class on the assigned dates. Any
request for acceptance of an assignment past the due date must be submitted to the instructor in writing.
The instructor’s evaluation of the circumstances will determine if the assignment will be accepted and if
there will be a grading penalty.
Academic dishonesty will not be tolerated in accounting courses. Academic dishonesty of any kind is a
violation of Wright State University's Code of Student Conduct. All incidents of academic dishonesty will
be dealt with in accordance with the University's policy on Academic Integrity. The policy can be found at
http://www.wright.edu/students/judicial/stuintegrity.html. All students are expected to be familiar with this
Academic dishonesty includes, but is not limited to,
Copying, sharing or obtaining information from any unauthorized source during projects,
examinations, or quizzes;
Copying from or unauthorized sharing of homework assignments with another student;
Failing to properly cite sources;
Attempting to take credit for the intellectual creation of another person as one's own work;
Giving or receiving information about a test, quiz or assignment solutions to students in other sections of
June 21, 2006 – Last day to drop without a grade.
June 30, 2006 – Last day to drop with a W.
SUGGESTED STUDY APPROACH
The likelihood of success in this course will be greatly enhanced if students adopt the following study
1. READ and study the chapter prior to the first classroom coverage of the material.
Make notes of anything you do not understand so you can ask questions in class.
Be sure you understand the glossary terms at the end of the chapter.
Complete the assigned homework.
2. Review the material covered in class as soon as possible after class.
3. Complete all assigned activities.
4. FYI: In the past students who earned an “A” in this course studied about 9 hours per week outside of
It is important that you understand each chapter before you begin the next chapter. New material
builds on previously studied material. If you do not understand one chapter, it will be impossible to
understand later chapters. If you think you need help, get it early. If you wait until just before the exam, it
will be too late.
ACC 204 02, Summer A 2006
DATE CHAPTER HOMEWORK
June 12 Introduction
Chapter 1 – Intro to Financial Statements
June 13 Chapter 3 (pgs. 102-111) – The E1-15
Accounting Information System P1-1A, 3A, 6A
June 14 Chapter 3 P3-3A (grid, journal entries, and
June 15 Chapter 4 – Accrual Accounting
June 19 Chapter 4 – Accrual Accounting P4-4A (a-c); P4-5A (a-c)
June 20 Chapter 4 Quiz 1
June 21 Chapter 2 – A Further Look at Financial P2-4A
June 22 Chapter 2 – A Further Look at Financial Graded assignment
June 26 Midterm Exam
June 27 Chapter 5 – Merchandising Operations
and the Multiple-Step Income Statement
June 28 Chapter 5 P5-3A, 4A
June 29 Chapter 6 – Reporting and Analyzing E6-1, 2, P6-5A
July 3 Chapter 7 – Internal Controls and Cash Quiz 2
E7-3, 4, 12; P7-3A
July 4 No Class – Happy 4 of July
July 5 Chapter 7 – Internal Controls and Cash
July 6 Chapter 8 – Reporting and Analyzing E8-9, 11, 13
Receivables P8-1A, 2A, 6A
July 10 Chapter 8 – Reporting and Analyzing
July 11 Chapter 9 and Appendix (DDB only) Quiz 3
E9-2, 8, 10; P9-1A, 2A
July 12 Review Graded assignment
July 13 Comprehensive Final, 12:20 to 2:20 pm
Changes may be made as needed.