Mortgage Amortization Table by mpc76582


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									                              Edmonds Community College
                  Principles of Accounting 2 - ACCT 202B Winter 2010
                     Mon – Wed - Fri – 8:30 – 9:20 a.m. – SQL #203
                                 Instructor: Andy Williams

Textbooks: Accounting – Tools for Business Decision Making. Third Edition, by Kimmel,
Weygandt and Kieso, is required. Also, we will utilize the resources and assignments at
Wiley Plus at: <>.You will need the
Registration Code that was provided with your textbook to access the materials. For
more information, go to

Equipment and software: Computer with reliable Internet access, web browser, word
processor and spreadsheet software. You can find a list of the minimum computer
system requirements necessary at the EdCC Distance Learning Office web pages. A
calculator, paper and pencils will also prove to be handy, as will computer skills, such as
proficiency with word processing, spreadsheets and the internet. For that matter, your
fine mind and your ability to communicate can also be considered to be equipment
necessary for this course!

Availability: The best way to reach me is via email at <>. You
can also reach me by phone at 425-640-1450. If you want to meet in person, you can
find me in my office in SNO #235. My office hours are Monday - Thursday: 10:30 –
11:30 a.m. You can also find additional information on my web page at

Prerequisites: A minimum grade of 2.0 in Principles of Accounting 1 (ACCT 201) is a
prerequisite for this course. Minimum placement in EAP (English for Academic
Purposes) 121 or Bridge 93, roughly the equivalent of American High School English, is
a prerequisite for this course. Mathematical ability equivalent to Math 60 or Business
Math (BUS 130), again the equivalent of High School Algebra is also recommended.
Proficiencies in computer spreadsheet and word processing applications will be helpful
to those students who have acquired those skills.

This is a hybrid course and work online is required in addition to the textbook reading
and classroom activities. We will be using the Blackboard software for our virtual
classroom. Blackboard creates a complete online classroom on a Web site. Students
need access to the internet and a web browser; no other online software is required.
Complete instructions for logging into Blackboard are located at the EdCC DLO website.
Also at that site are links to various resources, plug-ins, and tips and tricks that you may
find useful.

If you have any questions regarding these prerequisites, let’s discuss them as soon as
we can.

Accessibility: If you require an accommodation for a disability, please contact Services
for Students with Disabilities at MLT 159, 425.640.1320.
                                    Course Objectives

Principles of Accounting 2 (ACCT 202) represents a continuation of the
development of Financial Accounting concepts, procedures and practices
introduced in ACCT 201. The course is designed for students who have
successfully completed an initial course in Financial Accounting. We will
emphasize the development and interpretation of accounting information for
decision-making purposes. As a comprehensive review of the course, students
will use basic tools of financial analysis to evaluate the current condition and
financial performance of a publicly traded corporation. The following college-wide
abilities and specific learning outcomes are taught, applied and/or assessed in
this course:

                               Critical Thinking Outcomes

   Observe, analyze, synthesize, apply and evaluate business information.
   Identify arguments, evaluate claims, and form conclusions based on standard
    business practices.
   Identify and analyze problems and options, then select and implement appropriate
    solutions, and evaluate outcomes appropriate to course content.
   Examine and evaluate personal thinking as well as the thought process and
    perspectives of others.

                                Communication Outcomes

   Prepare and present clear, concise, well-developed written communications in
    Standard English with correct punctuation and spelling, using business-appropriate
    word processing formats and styles.
   Plan and professionally deliver effective oral presentations.
   Write clear organized short informational reports using correct format and report
    writing principles.
   Use listening skills that positively enhance relationships in a business environment.

                              Quantitative Skills Outcomes

   Use mathematics to solve quantitative business issues and problems.
   Calculate and explain the costs and benefits of simple financial choices encountered
    in financial planning and strategic decision-making.
   Use personal computers and other tools most commonly used by business to obtain,
    store, organize and communicate quantitative business information.

                         Specific Course Outcomes for Accounting 202

Students will demonstrate their quantitative, communication and critical thinking abilities
by mastering the following course objectives:
   Utilize present and future valuation techniques to value assets and liabilities.
   Allocate the cost of long term assets in accordance with generally accepted
    accounting principles.
   Account for the disposal and sale of long term assets.
   Journalize transactions involving definitely determinable and estimated liabilities.
    Identify contingent liabilities. Explain the effects of recording liabilities on financial
   Journalize transactions for the issuance and repayment of bonds and installment
   Journalize transactions involving stockholders' equity accounts and prepare formal
    financial statements properly organizing that information.
   Prepare and analyze a formal statement of cash flows.
   Analyze the financial condition and performance of a corporation using several
    financial analysis techniques.

                                  General Course Schedule

Week One: The Time Value of Money
1/4 – 1/11 - Learning Objectives
    Review accounting conventions, principles and practices. Describe the
       function of financial accounting in the investment process.
    Distinguish between simple and compound interest.
    Solve for future value of a single amount and an annuity.
    Identify the variables fundamental to solving present value problems.
    Solve for present value of a single amount and an annuity.
    Compute the present value of notes and bonds.
    Use compound interest tables to compute the present value and future
       value of single payments and annuities.
    Use a financial calculator and Excel to solve time value of money
Weeks Two and Three: Reporting and Analyzing Long-Lived Assets
1/12 - 1/25 - Learning Objectives:
    Describe how the cost principle applies to plant assets.
    Explain the concept of depreciation.
    Compute periodic depreciation using the straight-line method, and
       contrast its expense pattern with those of other methods
    Describe the procedure for revising periodic depreciation.
    Explain how to account for the disposal of plant assets.
    Describe methods for evaluating the use of plant assets.
    Identify the basic issues related to reporting intangible assets.
    Indicate how long-lived assets are reported in the financial statements.
    Quiz #1

Weeks Four and Five: Reporting and Analyzing Liabilities
1/26 - 2/8 - Learning Objectives:
      Explain a current liability and identify the major types of current liabilities.
      Describe the accounting for notes payable.
      Explain the accounting for other current liabilities.
      Identify the types of bonds.
      Prepare the entries for the issuance of bonds and interest expense.
      Describe the entries when bonds are redeemed.
      Use Excel to prepare a mortgage amortization table.
      Prepare the entries for an asset purchase using a mortgage or installment loan.
      Prepare the entries for payments on a mortgage or installment loan
      Midterm Exam

Week Six and Seven: Reporting and Analyzing Stockholders' Equity
2/9 - 2/23 - Learning Objectives:

      Identify and discuss the major characteristics of a corporation.
      Record the issuance of common stock.
      Explain the accounting for the purchase of treasury stock.
      Differentiate preferred stock from common stock.
      Prepare the entries for cash dividends and understand the effect of stock
       dividends and stock splits.
      Identify the items that affect retained earnings.
      Prepare a comprehensive stockholders' equity section.
      Evaluate a corporation's dividend and earnings performance from a
       stockholder's perspective.
      Quiz #2

Week Eight -The Statement of Cash Flows
2/24 - 3/2 - Learning Objectives:

      Indicate the usefulness of the statement of cash flows.
      Distinguish among operating, investing, and financing activities.
      Explain the impact of the product life cycle on a company's cash flows.
      Prepare a statement of cash flows using the indirect method.
      Use the statement of cash flows to evaluate a company.

Week Nine and Ten: Financial Analysis
3/3 – 3/15 - Learning Objectives:

      Understand the concept of sustainable income.
      Indicate how irregular items are presented.
      Explain the concept of comprehensive income.
      Describe and apply horizontal analysis.
      Describe and apply vertical analysis.
      Identify and compute ratios used in analyzing a company's liquidity,
       solvency, and profitability.
      Understand the concept of quality of earnings.
      Final Exam
          Assessment of Learning Outcomes: Grades, Exams, and Homework

                     Please Read My Policy on Academic Integrity!

Student achievement of the course objectives will be assessed by a variety of
instruments, including objective testing, completion of written homework
problems and discussion questions, participation in class discussions and written
analysis of cases.

NO EXAM MAKEUPS WILL BE ALLOWED unless instructor receives sufficient
notice and adequate reasons prior to scheduled exam.

Specific homework problems and other assignments will be assigned periodically
throughout the course, usually at the beginning of each unit. The assigned
homework is the minimum that you should prepare to successfully complete this
reason without prior approval from the instructor. If you know that you will need
more time on an assignment, please contact me BEFORE THE ASSIGNMENT
IS DUE so we can discuss the situation. Homework assignments will be graded
on the bases of quality of presentation, completeness, and accuracy.

Classroom discussions and your active participation in class activities and exercises are
integral parts of the learning process. Your questions, and your responses to the
questions of others, reveal the quality of your efforts and the depth of your
understanding. Accordingly, grade points will be earned based on your consistent and
quality participation in those discussions. At a minimum, you should be actively
participating at least three times weekly, and should be checking in with the class on a
daily basis.

Grades: Points will be earned as follows:

                     Midterm Exam                               100
                     Assignments, Exercises & Quizzes           350
                     Final Exam                                 150
                     Total Points Possible                      600
                    Accounting Department Decimal Grading Table

   Percentage of Total Points         Decimal Grade         Letter Grade Equivalent
          95 - 100%                        4.0                         A
              94                           3.9                         A
              93                           3.8                         A
              92                           3.7                         A
              91                           3.6                        A-
              90                           3.5                        A-
              89                           3.4                        B+
              88                           3.3                        B+
              87                           3.2                         B
              86                           3.1                         B
              85                           3.0                         B
              84                           2.9                         B
              83                           2.8                         B
              82                           2.7                         B
              81                           2.6                        B-
              80                           2.5                        B-
              79                           2.4                        C+
              78                           2.3                        C+
              77                           2.2                         C
              76                           2.1                         C
              75                           2.0                         C
              74                           1.9                         C
              73                           1.8                         C
              72                           1.7                        C-
              71                           1.6                        C-
              70                           1.5                        C-
            69 - 67                        1.4                        D+
              66                           1.3                         D
              65                           1.2                         D
              64                           1.1                         D
              63                           1.0                        D-
              62                           0.9                        D-
              61                           0.8                        D-
              60                           0.7                        D-
         Score < 60%                       0.0                     No Credit

“V” grades are not available. If you need to withdraw from the course, please do so by
the date on the EdCC Academic Calendar.
“I” grades are only available with prior approval of the instructor based on extenuating
circumstances and a specific agreement to complete the class in a timely manner.
e class in a timely manner.

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