Ch.2 Financial Statements Quiz by dfv12079


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									                              ACADEMIC SYLLABUS
                                    ACG 2021 Sec. 3394
                                    Financial Accounting
                                    Spring Term II - 2010

INSTRUCTOR:            Roberto Fernandez
OFFICE:                LY-249 (Tarpon Springs Campus)
PHONE:                 727-712-5770



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


      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.

Fernandez   ACG-2021

     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
        plant assets.
     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
        an organization.
     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.

Fernandez   ACG-2021

    WEEK                                            TOPIC

    Week 1     Course Overview

               CH 1
               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

               CH 2
               A Further Look at Financial Statements:
               Balance sheet.
               Company’s profitability.
               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.
               Recording process.
               General journal and general ledger.
               Trial Balance.
               Cash activities classification: Operating, investing, or financing.

               Homework CH3: Wiley PLUS
               Quiz CH3: Wiley PLUS

Fernandez   ACG-2021
    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.
               Closing entries.

               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

               CH 6
               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

               CH 8
               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

Fernandez   ACG-2021
    WEEK                                          TOPIC

    Week 6     CH 9
               Reporting and Analyzing Long-Lived Assets
               Plant 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
               Intangible assets

               Homework CH9: Wiley PLUS
               Quiz CH9: Wiley PLUS

               CH 10
               Reporting and Analyzing Liabilities:
               Current liabilities
               Accounting for notes payable
               Other current liabilities
               Issuance of bonds and interest expense
               Bond redemption

               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
               Preferred 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
               by Instructor)

    Week 8     Review of all the Chapters and Preparation for Final Exam.

               CUMULATIVE FINAL EXAM!!

Fernandez   ACG-2021

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

                                                              Information clearly
                                                              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
 Professional Language
                             consistently throughout the            frequently          writing style are
                                      discussion.                throughout the        occasionally used.
       Total Possible
        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

Fernandez   ACG-2021
Financial Aid:


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

Fernandez   ACG-2021

Online /Student Conduct

Online Student, Faculty and Staff Expectations and Performance Targets


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
performance improvement.


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:

Fernandez   ACG-2021

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