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Web Schedule Fall 2018

Revision Date: 05-Sep-18

ACC-2121-VR70X - Financial Accounting

Synonym: 179093
Location: Rutland
Credits: 4
Day/Times: Monday & Thursday, 05:00P - 09:00P
Semester Dates: 09-06-2018 to 10-25-2018
Last day to drop without a grade: 09-15-2018 - Refund Policy
Last day to withdraw (W grade): 10-05-2018 - Refund Policy
Faculty: Carrie Clarke | View Faculty Credentials
Materials/Lab Fees: $200.00
This course has started, please contact the offering academic center about registration

Comments: CPB certification students ONLY Co-enrollment in ACC-1010 & ACC-1030 required

Browse the Moodle 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.

Additional Instructor Pre-Assignments/Notes/Comments:

Course schedule and assignments may be revised by the instructor throughout the course. Cell phones, laptops, and all other electronic devices are to be turned off and put away upon entering the classroom, unless use is approved by instructor prior to class. Visible phones may be collected by the instructor.  Students are expected to attend every class meeting. Proof of purchase of textbook is required by Second class. Lack of textbook will result in a 5 point deduction of your 1st exam.  Late assignments will not be accepted, and will therefore receive a grade of zero. Exams missed due to absence will receive a grade of zero – there are no make-up exams. Classwork missed due to absence will receive a grade of zero. i. Students are expected to read each chapter BEFORE the first class covering that chapter.  All written assignments must use APA format. There is a tutorial available in the library for anyone who needs it. . All other academic policies are described in the Student Handbook Handbook. The instructor reserves the right to alter, at any time, the course plan for the term.

Grading Criteria:

Letter grade % earned Letter grade % earned Letter grade % earned A 95-100 B- 80-83 D+ 67-69 A- 90-94 C+ 77-79 D 64-66 B+ 87-89 C 74-76 D- 60-63 B 84-86 C- 70-73 F 59 and below


Fall 2018 textbook data will be available on June 4. On that date a link will be available below that will take you to eCampus, CCV's bookstore. The information provided there will be for this course only. Please see this page for more information regarding the purchase of textbooks.

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

Contact Faculty:

Email: Carrie Clarke
Hiring Coordinator for this course: Michael Keogh

Attendance Policy:

 You will have 1 excused absence.  Each absence over one will result in a one-grade reduction per absence, unless excused by the Academic Dean.

Please note: In order to receive accommodations for disabilities in this course, students must make an appointment to see the Americans with Disabilities Coordinator in their site and bring documentation with them.

Academic Honesty: 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.

Course description details subject to change. Please refer to this document frequently.

To check on space availability, choose Search for Classes.

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