#$2 Essays - Financial Statements, Free Essays

TITLE:Financial Accounting ICOURSE: AC 101 CREDITS:3PREREQUISITE: MA 010B or MA - 010PRE or COREQUISITE: BU 101 TEXTBOOK: Accounting Principles 12th Edition, Volume 1 Weygandt, Kimmel, Kieso SUGGESTED REFERENCE SOURCE:AC 101 LibGuide INSTRUCTOR:Name: Joe Aguero CPA E-mail: [emailprotected] No.: (732) 417-0800 ext 22121 Instructor Availability: Upon request Course Description: This course is an introduction to the basic principles of financial accounting including the accounting cycle, recording and posting transactions, adjusting and closing entries, financial statements, asset valuation, and depreciation. Course Outcomes/Objectives: Upon completion of this course, the student will be able to: Understand and implement the Accounting Cycle including the ability to: (a) Analyze and journalize transactions, (b) Post to ledger accounts, (c) Prepare a trial balance (d) Journalize and post adjusting entries, (e) Prepare an adjusted trial balance, (f) Prepare financial statements, (g) Journalize and post closing entries, (h) Prepare a post closing trial balance. Prepare a Bank Reconciliation and understand the concept of internal and cash controls to safeguard assets and enhance the accuracy and reliability of accounting records. Account for merchandise inventory and calculate the cost of inventory on hand at the Balance Sheet date and the cost of goods sold. Account for bad debt. Calculate and understand the reasoning for the different methods of depreciation. Understand the concepts related to payroll accounting Student Evaluation Criteria: Student assessment for achieving the above objectives will be as follows: Quizzes / Tests45 % (See Notes 1 1 Cumulative Final Exam35 % H.W. 5% Attendance5% Student Project10 % (See Note 3 below) This project is comprehensive and covers the entire accounting cycle, as described in Learning Outcome #1 above. Notes to Student Evaluation Criteria: No makeup exams are given. In addition to no makeups, there will be no dropping of the lowest grade, no extra credit and no curving of test grades. The student project will be announced after the completion of Chapter 4 and must be handed in by the assigned due date which will appear on the instructions for the project. The student will be given a reasonable amount of time to complete the project (usually 2 weeks). Any student not in attendance when the project is handed out will NOT receive additional time beyond the original due date. Any student project handed in late will have one (1) out of ten (10) points deducted for each late day, or portion thereof, including weekends and holidays, before the project is graded. For example, a student hands in the project 3 days late. In this case, the maximum grade the student can receive for the project is seven (7), assuming the project is perfect. If the project is assigned a grade of 50%, then the student will receive 3.5 out of 10 points toward the final grade (50% of 7). The entire project must be typewritten. Any project not type written or partially typewritten will receive an a utomatic grade of zero. You are expected to be present at the beginning of the class period and remain in the classroom for its duration. Lateness, walking in and out of the classroom during a class session for whatever reason, absences, cell phones ringing, and any other class disruptions will not help your final grade. You are expected to bring paper, pencil and a calculator to class. None will be provided. Eating food in the classroom is forbidden. Children are not permitted in the classroom at any time. Shut off electronic devices such as cell phones, laptops, etc., during class. NOTIFICATION FOR STUDENTS WITH DISABILITIES: If you have a disability, and believe you need accommodations in this class, please contactHYPERLINK "http://pccc.edu/ods"Disability Servicesstaffat 973-684-6395, or emailHYPERLINK "mailto:[emailprotected]"[emailprotected], to make an appointment.You should do so as soon as possible at the start of each semester.If you require testing accommodations, you must remind me (the instructor) one week in advance of each test. More information @HYPERLINK "http://pccc.edu/ods" t "_blank"pccc.edu/ods. Course Contents: ChapterTopic 1Accounting in Action (Discussion) 2The Recording Process 3Adjusting the Accounts 4Completion of the Accounting Cycle 5Accounting for Merchandising Operations 6Inventories 8Internal Control and Cash 9Accounting for Receivables 10Plant Assets, Natural Resources, and Intangible Assets 11Current Liabilities and Payroll Accounting Grading System: A=100 93 A-= 92 89 B+= 88 86 B= 85 83 B-= 82 79 C+= 78 76 C= 75 70 D= 69 60 F=Below 60 Homework Assignment Textbook Chapter Exercises Problems: SET A1 E1-5, E1-7, E1-11, E1-14 P1-3A, P1- 4A 2 E2-2, E2-9, E2-10, E2-14 P2-1A, P2-2A 3 E3-6, E3-7,