ACG 2021 Sec. 3394
Spring Term II - 2010
INSTRUCTOR: Roberto Fernandez
OFFICE: LY-249 (Tarpon Springs Campus)
OFFICE HOURS: Online
Dean: Dr. Sharon Setterlind
Office Location: SP Campus TE-116C
Office Number: 727-341-4724
Academic Chair: Roberto Fernandez
Office Location: LY-249 (Tarpon Springs Campus)
Office Number: 727-712-5770
REQUIRED TEXTBOOK & OTHER RESOURCE INFORMATION:
Kimmel, Weydgandt, and Kieso: Accounting: Tools for Business Decision Making
3e. Wiley. (Volume One)
WileyPlus access code (Included with the book).
Access to high speed Internet.
Knowledge of Microsoft Office.
ISBN Number: 978-0-470-54054-1
Important: This book is a custom edition for the Saint Petersburg College only.
PURPOSE: To provide opportunity for the student to learn the fundamentals,
principles techniques and uses of the accounting systems for the
recording, presenting, and interpreting of a firm's financial data, with
emphasis on the corporation.
1. The student will understand the basic terminology of the double entry system of
2. The student will develop the ability to journalize and post the transactions of a
3. The student will develop the ability to prepare the end of period work sheets
and financial statements, thus completing the accounting cycle.
4. The student will understand how to develop a basic accounting system.
5. The student will understand the various methods of Inventory Valuation.
6. The student will understand the various methods of calculating depreciation of
7. The student will develop the ability to properly record transactions of a
merchandising organization and prepare the financial statements for it.
8. The student will develop an understanding of the methods of internal control in
9. The student will develop an understanding of deferrals and accruals in an
10. The student will develop the ability to account for acquisition and disposal of
plant assets and intangible assets.
11. The student will develop an understanding of the basic Generally Accepted
Accounting Principles (GAAP).
12. The student will develop the ability to analyze and record transactions related to
a corporation’s Paid-in and Earned Capital.
13. The student will develop the ability to make adjusting entries relating to
receivables of an organization.
14. The student will develop the ability to analyze and record transactions related to
a corporation’s long-term liabilities.
Week 1 Course Overview
Introduction to Financial Statements:
Forms of business organization.
Users and uses of accounting information.
Types of business activities.
Purpose of financial statements.
Meaning of assets, liabilities, and stockholder’s equity.
Basic accounting equation.
Homework CH1: Wiley PLUS
Quiz CH1: Wiley PLUS
A Further Look at Financial Statements:
Retained earnings and stockholder’s equity.
Liquidity and solvency.
Homework CH2: Wiley PLUS
Quiz CH2: Wiley PLUS
Week 2 CH 3
The Accounting Information System:
Business transactions on the basic accounting equation.
Debits and Credits.
General journal and general ledger.
Cash activities classification: Operating, investing, or financing.
Homework CH3: Wiley PLUS
Quiz CH3: Wiley PLUS
Week 3 CH 4
Accrual Accounting Concepts:
Revenue recognition principle and the matching principle.
Cash basis and accrual basis of accounting.
Adjusting entries for deferrals and accruals.
Adjusted trial balance.
Homework CH4: Wiley PLUS
Quiz CH4: Wiley PLUS
Week 4 CH 5
Merchandising Operations and the Multiple-Step Income Statement:
Difference between servicing company and merchandising company.
Perpetual and periodic inventory systems.
Single step and multiple step income statement.
Factors affecting profitability.
Homework CH5: Wiley PLUS
Quiz CH5: Wiley PLUS
Reporting and Analyzing Inventory:
Steps in determining inventory quantities.
Inventory cost flows under the perpetual and periodic inventory systems.
Financial statements and tax effects of inventory cost flows.
Inventory turnover ratio.
Homework CH6: Wiley PLUS
Quiz CH6: Wiley PLUS
Week 5 CH 7
Fraud, Internal Control, and Cash
Principles of internal control activities.
Applications of internal controls.
Homework CH7: Wiley PLUS
Quiz CH7: Wiley PLUS
Reporting and Receiving Receivables:
Types of receivables
Accounting for bad debt
Interest on notes receivable
Disposition of notes receivable
Financial ratios for receivables
Homework CH8: Wiley PLUS
Quiz CH8: Wiley PLUS
Week 6 CH 9
Reporting and Analyzing Long-Lived Assets
Compute periodic depreciation using the straight-line method and double
declining balance method
Disposal of plant assets
Evaluation of the use of plant assets
Homework CH9: Wiley PLUS
Quiz CH9: Wiley PLUS
Reporting and Analyzing Liabilities:
Accounting for notes payable
Other current liabilities
Issuance of bonds and interest expense
Homework CH10: Wiley PLUS
Quiz CH10: Wiley PLUS
Week 7 CH 11
Reporting and Analyzing Stockholders’ Equity:
Major characteristics of a corporation
Issuance of common stock
Purchase of treasury stock
Cash dividends and stock dividends
Stockholders’ equity section
Homework CH11: Wiley PLUS
Quiz CH11: Wiley PLUS
PROJECT IS DUE BY THE END OF THIS WEEK. (Details will be provided
Week 8 Review of all the Chapters and Preparation for Final Exam.
CUMULATIVE FINAL EXAM!!
It will be the reflection of how much a student participated in the online activities. The
student will receive a grade for his/her participation on every week. The activities taken
into consideration for the online participation grade are:
Participation in the debate issues for every week.
Answers to questions posted by the instructor at his own discretion.
Other requirements specified by the instructor.
The participation in the “Lounge Room” and “Ice Breaker” does not count
towards your online participation grade.
Online Participation will be graded using the following participation rubric:
Category Excellent Satisfactory Improvement
relates to the main Information has little
Information clearly relates to the
topic. Contributions or nothing to do with
main topic. Contributions are
are thoughtful and the main topic or
thoughtful and relevant to the
relevant to the simply restates the
discussion, answer or question.
discussion. main concepts.
Student includes examples and
The student The student barely
Quality & Quantity of suggests external sources
participates asking, interacts with the
Information Provided in (links) to clarify his/her point.
answering, and instructor and other
the Postings The student actively participates
interacting with the students.
asking, answering, and
instructor and other The quantity of
interacting with the instructor
students. information in the
and other students.
The student could student’s postings is
The quantity of information
provide more not adequate for a
provided in the posting is
information in the good interaction.
appropriate for the interaction.
Quantity of Postings per Between 4 and 8 Less than 4 postings
More than 8 postings per week.
Chapter postings per week. per week.
Frequency of Postings More than 3 different days of 2 -3 different days of Only one day of the
per Chapter the week. the week. week.
Professional vocabulary and vocabulary and Professional
writing style are used writing style are used vocabulary and
consistently throughout the frequently writing style are
discussion. throughout the occasionally used.
Percentage (80% - 100%) (60% - 79%) (0% - 59%)
Course dates: 03/15/2010 –05/06/2010
Last day to drop and receive a refund: 03/19/2010
Last day to withdraw and receive a grade of “W”: 04/15/2010
Financial Aid: http://www.spcollege.edu/central/SSFA/HomePage/calendar.htm
DISCIPLINE SPECIFIC INFORMATION:
Accounting in general is a hard subject that requires a lot of patience, perseverance,
practice and study to learn. This is an intensive eight-week course. It is recommended to
dedicate a minimum of 10 hours per week to its study. Online classes give the student a
lot of flexibility in regards to study time but it is imperative to get organized and set a
consistent time per week to go over the study material and the other requirements of this
The learning process can be very demanding, but at the same time it will be very
rewarding. The world of accounting is fascinating and will help develop a new set of
skills that will open the doors to a whole new world of opportunities.
The college-wide attendance policy is included in the Syllabus Addendum at:
If the student does not participate in the course for more than one week he/she might be
subject to withdrawal at the instructor’s discretion.
GRADING: Grades will be earned in five parts, as follows:
Quizzes ---------------------------------------------- 30%
Homework ------------------------------------------ 20%
Online Participation ------------------------------ 20%
Project ----------------------------------------------- 15%
Cumulative Final Exam ------------------------- 15%
Total possible points --------------------------- 100.00%
A 90 - 100%
B 80 - 89%
C 70 - 79%
D 60 – 69%
F Less than 60%
Late Assignments will receive 75% of the full grade if they are in within one week after
the assignment due date. The instructor will not accept assignments that are more than
one week late.
The assignments and their due dates will be posted on Angel and supported by
STUDENTS’ AND INSTRUCTOR’S EXPECTATIONS:
Online /Student Conduct
Online Student, Faculty and Staff Expectations and Performance Targets
STUDENT SURVEY OF INSTRUCTION:
The student survey of instruction is administered in courses each semester. It is
designed to improve the quality of instruction at St. Petersburg College. All student
responses are confidential and anonymous and will be used solely for the purpose of
Will be posted on the ANGEL and announced to all the students in case they happen.
Please make sure you read the information in the addendum.
I have read, understand, and agree to abide fully by the parameters set in this Syllabus
and Syllabus Addendum.
Student Signature: Date: