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Course Planning by Program

2023-24

Essential Objectives

Course Syllabus


Revision Date: 07-Aug-23
 

Fall 2023 | ACC-2121-VO07F - 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 Fall 2023 ends on October 30.


Location: Online
Credits: 3 (45 hours)
Day/Times: Meets online
Semester Dates: 09-05-2023 to 12-18-2023
Last day to drop without a grade: 09-25-2023 - Refund Policy
Last day to withdraw (W grade): 11-06-2023 - Refund Policy
This course has started, please contact the offering academic center about registration

Faculty

Theresa Strong
View Faculty Credentials
View Faculty Statement
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, 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

This course uses one or more textbooks/books/simulations.

Fall 2023 textbook details will be available on 2023-05-03. On that date a link will be available below that will take you to eCampus, CCV's bookstore. The information provided there will be specific to this class. Please see this page for more information regarding the purchase of textbooks/books.

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 25%
Module Assignments 50%
Quizzes 25%
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 16 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. Click the syllabus button in our canvas courseto 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: Role of Accounting in Society
  • Module 2: Introduction to Financial Statements
  • Module 3: Analyzing and Recording Transactions
  • Module 4: The Adjustment Process
  • Module 5: Completing the Accounting Cycle
  • Module 6: Merchandising Transactions
  • Module 7: Accounting Information Systems
  • Module 8: Fraud, Internal Controls, and Cash
  • Module 9: Accounting for Receivables
  • Module 10: Inventory
  • Module 11: Long-term Assets
  • Module 12: Current Liabilities
  • Module 13: Long-term Liabilities
  • Module 14: Corporation Accounting
  • Module 15: Partnership Accounting
  • Module 16: Statement of Cash Flows

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.


Participation Expectations

To earn full participation points for the week, students should:

  • Read the assigned material and demonstrate an understanding of those resources in your assignments and posts


Missing & Late Work Policy

This is a self-paced course, so all work must be submitted by the last day of class.


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.