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Course Planning by Program

2022-23

Essential Objectives

Course Syllabus


Revision Date: 09-May-22
 

Summer 2022 | ACC-2121-VO03F - Financial Accounting


Flex Class

Flex courses are online courses with flexible assignment submission, allowing students to manage their completion pace during the semester. Flex courses remain open for enrollment throughout the first half of the semester. Flex course enrollment for Summer 2022 ends on July 8.


Location: Online
Credits: 4
Day/Times: Meets online
Semester Dates: 05-24-2022 to 08-15-2022
Last day to drop without a grade: 06-13-2022 - Refund Policy
Last day to withdraw (W grade): 07-11-2022 - Refund Policy
Open Seats/Section Limit: 3/17 (as of 05-18-22 8:05 PM)

Faculty

Theresa Strong
View Faculty Credentials

Hiring Coordinator for this course: Julie Dalley

Browse the Canvas Site for this class.

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.


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, and stockholders’ equity and dividends.
11. Prepare an income statement, statement of owners’ equity, and balance sheet, and be familiar with and understand the cash flow statement.
12. Identify and investigate the scope and diversity of career opportunities in the fields of accounting and finance.


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-VO03F 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

Your final grade will be based on the following assessments:

Assignment Category Grade Weight Percentage
Demonstrate Your Learning Forums 20%
Module Assignments 40%
Quizzes 20%
Case Studies 20%
Total 100%

Evaluation Criteria

This is a self-paced asynchronous course which means that students will be starting and progressing at different rates throughout the term. Once you feel like you have a strong handle on the material, and you have completed all of the assignments for the module, you should feel comfortable moving on, regardless of the pace, as long as you complete the course within the semester timeframe.

  • If you are starting at the beginning of the term, consider spending three of your weeks completing two modules per week and the rest of the weeks completing one module per week to successfully complete the course within the term.
  • If you are starting 7 weeks into the course, consider covering three modules per week so that you complete the course successfully within the term.

This course has a total of 19 modules. It is essential that you make a plan at the beginning of the semester about how you will approach this course. Make a calendar and decide when you will complete each module. Use the Download Detailed Syllabus documentunder "Course Resources" to better understand which modules you may need to spend more time on, and which modules you can pair together in a single week. You may find that you need to change your original plan as you progress throughout the semester and that is ok--just be sure to update your plan as you go to ensure you finish all assignments before the end of the semester.

  • Module 1: Introduction to Course Concepts and Online Learning
  • Module 2: Introduction to Business
  • Module 3: Ethics in Business and Accounting
  • Module 4: Opportunities in Accounting
  • Module 5: The Accounting Equation and Business Transactions
  • Module 6: Analyzing & Journalizing Transactions
  • Module 7: The Adjusting Process
  • Module 8: Completing the Accounting Cycle
  • Module 9: Accounting Systems
  • Module 10: Accounting for Merchandising Businesses
  • Module 11: Inventories
  • Module 12: Internal Control and Cash
  • Module 13: Receivables
  • Module 14: Long-Term Assets: Fixed and Intangible
  • Module 15: Current Liabilities and Payroll
  • Module 16: Accounting for Partnerships and Limited Liability Companies
  • Module 17: Corporations and Dividends
  • Module 18: Statement of Cash Flows
  • Module 19: Financial Statement Analysis

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


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.





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