Principles of Accounting
Acct 101, 4 credits, Spring 2000
Instructor: Patty Holmes, CPA
Office 806, Phone 964-6349
E- Mail phholmes@dmacc.cc.ia.us
Office Hours: 1:15 – 2:45 MTWF
Required Materials:
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Accounting Principles, Weygandt, Kieso, Kimmel Fifth Edition Working Papers Vol 1 |
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Optional: To be announced |
Schedule of Chapters and Tests
|
Dates |
No. of Days |
Chapter |
Assignments |
|
1/11 – 1/18 |
4 |
1 Accounting in Action |
All Exercises + Probs 1-4A-5A |
|
1/19 – 1/24 |
3 |
2 The Recording Process |
To be announced |
|
1/25 – 2/1 |
4 |
3 Adjusting the Accounts |
To be announced |
|
2/2 – 2/11 |
4 |
4 Completing the Accounting Cycle |
To be announced |
|
2/14 |
1 |
Comprehensive Problem |
|
|
2/15 |
1 |
Test Covering Chapters 1,2,3, & 4 |
|
|
2/16 – 2/21 |
3 |
5 Accounting for Merchandising Operations |
To be announced |
|
2/22 – 2/28 |
4 |
6 Accounting Information Systems |
To be announced |
|
2/29 – 3/3 |
3 |
7 Internal Control and Cash |
To be announced |
|
3/6 |
1 |
Test Covering Chapters 5,6, and 7 |
|
|
3/8 – 3/15 |
4 |
8 Accounting for Receivables |
To be announced |
|
3/17 – 3/29 |
4 |
9 Inventories |
To be announced |
|
3/31 – 4/7 |
5 |
10 Plant Assets, Natural Resources, and Intangible Assets |
To be announced |
|
4/10 |
1 |
Test Covering Chapters 8, 9, & 10 |
To be announced |
|
4/12 – 4/17 |
3 |
11 Current Liabilities and Payroll Accounting |
To be announced |
|
4/18 – 4/21 |
3 |
12 Accounting Principles |
To be announced |
|
4/24 – 4/26 |
3 |
14 Corporations: Organization and Capital Stock Transactions |
To be announced |
|
Based on published schedule |
1 |
Final |
|
CONSTRUCTION OF THE COURSE:
Before class, you should read the material that we will be covering in class. This will enable you to get clarification regarding concepts in the text that caused you confusion. The instructor makes the assumption that you have read the material before coming to class. Accounting is a challenging subject. Give yourself every opportunity to succeed.
I am available for individual help outside of the class. In addition to the office hours listed at the top, I am available by appointment in my office.
ASSIGNMENTS:
The exercises and problems are to be completed as assigned. I will assign certain exercises and problems each day. To obtain credit, you will need to write them out and have them ready to hand in on the date identified in class.
EVALUATION:
|
4 |
Exams |
400 |
|
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|
1 |
Comprehensive Problem |
20 |
|
||||
|
13 |
Quizzes (10 count) No makeup |
100 |
|||||
|
13 |
Chapter Ex. (10 count) No late papers |
50 |
|||||
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Total |
570 |
|
93% - 100% = A 90%-92% = A-
87%- 89% = B+ 83%-86% = B 80%-82% = B-
75% - 79% = C+ 70%-74% = C 65%-69% = C-
61% - 64% = D+ 58%-60% = D 55%-59% = D-
There will be an opportunity to earn extra credit points throughout the course.
COMPETENCIES
1. Explain accounting as an information system.
2. Organize transaction data in accounts.
3. Appraise the use of adjusting entries.
4. Summarize the steps at the completion of the accounting cycle.
5. Distinguish the accounts used to record transactions for a merchandising
company.
6. Illustrate the use of special purpose journals for a merchandising business.
7. Assess the importance of internal control.
8. Demonstrate accounting for accounts receivable and bad debts expense.
9. Summarize the accounting procedures for notes payable and notes receivable.
10. Appraise how inventory valuation methods affect income.
11. Perform accounting procedures for long-term assets.
12. Discuss the development and conceptual framework of generally accepted accounting
principles.