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Course Planning by Program

2024-25

Essential Objectives

Course Syllabus


Revision Date: 08-Jul-24
 

Fall 2024 | ACC-2121-VO01 - Financial Accounting


Online Class

Online courses take place 100% online via Canvas, without required in-person or Zoom meetings.

Location: Online
Credits: 3 (45 hours)
Day/Times: Meets online
Semester Dates: 09-03-2024 to 12-16-2024
Last day to drop without a grade: 09-16-2024 - Refund Policy
Last day to withdraw (W grade): 11-04-2024 - Refund Policy
Open Seats: 1 (as of 07-19-24 5:05 PM)
To check live space availability, Search for Courses.

Faculty

Norman Whittle
View Faculty Credentials

Hiring Coordinator for this course: Julie Dalley

Course Description

This course introduces students to problems of external reporting as they relate to service providers, merchandisers, and corporations. Students examine the various accounts found in financial statements and learn how to put these accounts together to render meaningful statements that communicate pertinent information to those who read them. Basic math skills are required. Students have the opportunity to take the Bookkeeping Certification from the National Association of Certified Public Bookkeepers (NACPB) in this course.


Essential Objectives

1. Recognize, classify, and record accounting transactions and describe the effect of each accounting transaction on the resultant financial statements.
2. Prepare, adjust, and close journal entries and post them to the ledger.
3. Construct an adjusted trial balance so that a proper set of financial statements can be prepared.
4. Describe and compare cash and accrual methods of accounting.
5. Analyze information and prepare buyer and seller journal entries for a merchandising business, including terms of sale.
6. Calculate inventory and cost of merchandise sold using FIFO, LIFO, average cost, retail, and LCM methods.
7. Understand the basic requirements of good internal control including reconciliation of bank accounts, and discuss ethical considerations inherent in accounting practice and decisions.
8. Estimate the net realizable value of receivables using the allowance method.
9. Calculate depreciation using straight line, units of output, and double declining balance methods.
10. Properly account for current assets; property plant and equipment; current and long term liabilities; stockholders’ equity; dividends; and bond pricing.
11. Prepare an income statement, statement of owners’ equity, and balance sheet, and be familiar with and understand the cash flow statement.
12. Explore the scope and diversity of career opportunities in the field of accounting and finance through assignments such as informational interviews, job shadows, or other career exploration activities.


Required Technology

More information on general computer and internet recommendations is available on the CCV IT Support page. https://support.ccv.edu/general/computer-recommendations/

Please see CCV's Digital Equity Statement (pg. 45) to learn more about CCV's commitment to supporting all students access the technology they need to successfully finish their courses.


Required Textbooks and Resources

ACC-2121-VO01 Link to Textbooks/Resources Information for this course in eCampus.

The last day to use a Financial Aid Advance to purchase textbooks/books is the 3rd Tuesday of the semester. See your financial aid counselor at your academic center if you have any questions.


Methods

Lectures and textbook readings will be supplemented with assigned problems. We will be covering 1 chapter a week (Chapters 1 to 11 & 13). The instructor will give a overview of each chapter and students will have an opportunity to discuss and interact with other students in the classroom. Questions will be posed by both the instructor and/or students in this course. Homework problems will be assigned from each chapter and are due on specific dates. A weekly quiz will be given to help reinforce the concepts presented in each chapter.


Evaluation Criteria

Each student will be expected to complete the assigned homework and quiz each week by the due date outlined in the syllabus. A deduction in points may be made for late assignments. All assignments are taken from the textbook. There will be 2 exams, a mid-term and a final exam. Students are required to participate and provide a meaningful input to the classroom discussions each week.

Grades will be based on the following:

Weekly Homework 40%

Weekly Quizzes 10%

Midterm Exam 15%

Final Exam 15%

Attendance/Participation/Class Discussions 20%


Grading Criteria

CCV Letter Grades as outlined in the Evaluation System Policy are assigned according to the following chart:

 HighLow
A+10098
A Less than 9893
A-Less than 9390
B+Less than 9088
B Less than 8883
B-Less than 8380
C+Less than 8078
C Less than 7873
C-Less than 7370
D+Less than 7068
D Less than 6863
D-Less than 6360
FLess than 60 
P10060
NPLess than 600


Weekly Schedule


Week/ModuleTopic  Readings  Assignments
 

1

Chapter 1: Accounting in Business

  

Read Chapter 1

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

2

Chapter 2 Analyzing and Recording Transactions

  

Read Chapter 2

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

3

Chapter 3 Adjusting Accounts for Financial Statements

  

Read Chapter 3

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

4

Chapter 4 Completing the Accounting Cycle

  

Read Chapter 4

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

5

Chapter 5 Accounting for Merchandising Operations

  

Read Chapter 5

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

6

Chapter 6 Inventories and Cost of Sales

  

Read Chapter 6

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

7

Midterm Exam (Chapters 1 - 6)

    

Complete Midterm Exam

 

8

Chapter 7 Accounting Information Systems

  

Read Chapter 7

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

9

Chapter 8 Cash, Fraud, and Internal Control

  

Read Chapter 8

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

10

Chapter 9 Accounting for Receivables

  

Read Chapter 9

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

11

Chapter 10 Plant Assets, Natural Resources, and Intangibles

  

Read Chapter 10

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

12

Chapter 11 Current Liabilities and Payroll Accounting

  

Read Chapter 11

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

13

Chapter 13 Accounting for Corporations

  

Read Chapter 13

  

Assignments:

  • Exercises/Problems in CONNECT
  • Weekly Quiz
  • Participate in Discussions Posted in Canvas
 

14

Review & Prepare for Final Exam

    
 

15

Final Exam

    

Complete Final Exam

 

Attendance Policy

Regular attendance and participation in classes are essential for success in and are completion requirements for courses at CCV. A student's failure to meet attendance requirements as specified in course descriptions will normally result in a non-satisfactory grade.

  • In general, missing more than 20% of a course due to absences, lateness or early departures may jeopardize a student's ability to earn a satisfactory final grade.
  • Attending an on-ground or synchronous course means a student appeared in the live classroom for at least a meaningful portion of a given class meeting. Attending an online course means a student posted a discussion forum response, completed a quiz or attempted some other academically required activity. Simply viewing a course item or module does not count as attendance.
  • Meeting the minimum attendance requirement for a course does not mean a student has satisfied the academic requirements for participation, which require students to go above and beyond simply attending a portion of the class. Faculty members will individually determine what constitutes participation in each course they teach and explain in their course descriptions how participation factors into a student's final grade.

Accessibility Services for Students with Disabilities:


CCV strives to mitigate barriers to course access for students with documented disabilities. To request accommodations, please
  1. Provide disability documentation to the Accessibility Coordinator at your academic center. https://ccv.edu/discover-resources/students-with-disabilities/
  2. Request an appointment to meet with accessibility coordinator to discuss your request and create an accommodation plan.
  3. Once created, students will share the accommodation plan with faculty. Please note, faculty cannot make disability accommodations outside of this process.


Academic Integrity


CCV has a commitment to honesty and excellence in academic work and expects the same from all students. Academic dishonesty, or cheating, can occur whenever you present -as your own work- something that you did not do. You can also be guilty of cheating if you help someone else cheat. Being unaware of what constitutes academic dishonesty (such as knowing what plagiarism is) does not absolve a student of the responsibility to be honest in his/her academic work. Academic dishonesty is taken very seriously and may lead to dismissal from the College.