Course Syllabus

INSTRUCTOR:

Makalerina Tambunan, MST

E-mail: mtambunan@sbccd.cc.ca.us

Office Hours: Thursday 7pm – 8pm (held virtually - via zoom, discussion board, etc. or by appointment if meeting other than this time)

 

IMPORTANT INFORMATION:

 

Students are required to have internet access, use the Canvas course website and your Crafton Hills College email. It is your responsibility to read email/announcement daily and follow the weekly schedule and stay on top of your assignments. All first week assignments need to be completed and submitted by the due date to avoid possibly being dropped from the class.

 

Zoom Meetings: There is no set class meeting times required and students complete course requirements independently. However, each week there will be a Zoom meeting during my virtual office hours. These sessions will be live with the instructor and students; it is available to discuss any questions or concerns you might have and to clarify/address your questions related to your assignments you sent to me via e-mail. Further instructions on how to join will be provided on the Canvas homepage and through an announcement.

 

Email: please use e-mail message through Canvas (“inbox” icon on left menu bar once you get into course). If e-mailing outside of Canvas, use your Crafton Hills College student email account & ensure to input “ACCT 208-74” in the subject of your email.

 

 

COURSE DESCRIPTION:

The course explores fundamental concepts and procedures of financial accounting including the use, interpretation, preparation, and analysis of financial statements. Recording and reporting of business transactions with a focus on the accounting cycle, generally accepted accounting principles and accounting policy choices. It also includes issues relating to asset, liability, and equity valuation; revenue and expense recognition; cash flow; internal controls and ethics.

 

PREREQUISITE: NONE.

 

COURSE OBJECTIVES:

Upon satisfactory completion of the course, students will be able to:

1. Explain the nature and purpose of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS).

 

2. Explain the role of accounting in organizations and organizational decision-making.
3. Explain and apply the components of the conceptual framework for financial accounting and reporting, including the qualitative characteristics of accounting information, the assumptions underlying accounting, the basic principles of financial accounting, and the constraints and limitations on accounting
4. Define and use accounting and business
5. Explain what a system is and how an accounting system is designed to satisfy the needs of specific businesses and
6. Summarize the purpose of journals and
7. Apply transaction analysis, input transactions into the accounting system, process this input, and prepare and interpret the four basic financial
8. Discuss the purpose, structure, content, and underlying principles of the

general-purpose financial statements including the income statement, balance sheet, statement of changes in shareholders' equity, and statement of cash flows.

9. Explain the content, form, and purpose of the basic financial statements (including footnotes) and the annual report, and how they satisfy the information needs of investors, creditors, and other
10. Illustrate and apply accounting policy choices in the preparation and analysis of financial statements, including, but not limited to: inventory cost flow assumptions and depreciation methods.
11. Distinguish between cash basis and accrual basis accounting and their impact on the financial statements, including the revenue recognition and matching
12. Identify and illustrate how the principles of internal control are used to manage and control the firm's resources and minimize
13. Explain the nature of current assets and related issues, including the measurement and reporting of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods
14. Identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and
15. Distinguish between capital and revenue
16. Explain the valuation and reporting of current liabilities, estimated liabilities, and other
17. Identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and retirement of debt (including the time value of money).
18. Identify and illustrate issues relating to stockholders' equity, including issuance, repurchase of capital stock, and
19. Explain the importance of operating, investing, and financing activities reported in the Statement of Cash
20. Interpret company activity, profitability, liquidity, and solvency through selection and application of appropriate financial analysis
21. Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing

 

STUDENT LEARNING OUTCOMES:

• Students will demonstrate the ability to define and complete the steps in the accounting cycle including journalizing and posting financial transactions, recording adjusting and closing entries, and preparation of financial
• Students will demonstrate the ability to identify and record changes in assets, liabilities and owner’s equity through recording and posting of journal

 

• Students will demonstrate the ability to prepare and explain the purpose, structure, content, and underlying principles of the general-purpose financial statements, including the income statement, balance sheet, statement of changes in stockholder’s equity, and the statement of cash

 

COURSE MATERIALS: (Required)

Textbook: Great news! Your textbook for this class is available for free online!

Principles of Accounting Volume 1 Financial Accounting from OpenStax, ISBN-10: 1-947172- 67-0

You have several options to obtain this book:

• View online
• Download a PDF

 

You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device.

 

GENERAL INFORMATION:

• Class Etiquette: Respect everyone, the learning process, and time. Conduct yourself in a manner that will enhance the learning environment for the entire
• Attendance: Follow the weekly schedule and stay on top of your assignments. All first week assignments need to be completed and submitted by the due date to avoid possibly being dropped from the class. I recommend that you log in at least three times per week to complete your work. Use the Canvas Calendar and create alerts in your phone or on your computer for lesson due dates or anything else you think you might forget! Set up your Notifications in Canvas (Links to an external site.) as well. (You can receive notifications via text (Links to an external site.).) Time to complete each module may vary from week to week. If you want to get the most out of the materials presented and earn the best grade you can, you should plan to spend at least 7-8 hours on the reading and assignments each
• Drop Policy: The instructor will drop students who registered for this class but did not attend the first class meeting. Beyond this, it is YOUR responsibility to drop from this class should you decide not to complete the class at this
• Academic Honesty: Cheating, plagiarism, unauthorized collaboration, facilitating academic dishonesty, interference, or sabotage, fabrication, or retaliation will not be tolerated. No exceptions. At the discretion of the instructor, any form of academic dishonesty will result in an “F” for the assignment. For more information, see the complete academic integrity policy in the Crafton Hills College student
• Students with Disabilities: Please inform me if you require special accommodations for class lecture, materials, tests, or any other type of class activity. If you have legal disability documentation and wish to discuss academic accommodations, please contact the DSPS office at (909) 389-3325 or (909) 794-4105 (TTY) or visit them in SSB-118. Please be sure to allow adequate time to arrange for an appropriate
• Student Resources: The Career Center assists students with career paths and job opportunities. The program offers career counseling, career assessments, résumé and cover letter assistance, interviewing skills preparation, on- and off-campus job postings,

 

student employment services, career related workshops, and the online career services. The Career Center is located in SSB-201. Call (909) 389-3366 for more information. The Tutoring Center offers FREE TUTORING, computer access, and

academic support. Students are welcome to make an appointment or drop in. Call (909) 389-3312 for more information.

 

 

COURSEWORK: Each week you will have reading, discussion boards, online lessons, and chapter tests to complete

 

• Exams: To assess general knowledge of course material and critical thinking skills, students will take course exams. Take your tests from a reliable computer. I will not reopen tests if they are missed or lock up after the day they are due so please give yourself enough time to find a solution if there is a problem. Do your work early, well before the 11:59 p.m. cut off time, or you risk the test closing and losing your
• Discussion Forums: To make sure students engage each other over the material, each student will be graded on discussion forums dispersed throughout this course worth points. These posts must be professional, meaningful and incorporate specific examples from the text or Learning
• Homework: Accounting requires practice and these homework assignments will allow you to exercise the knowledge. These assignments are untimed and with unlimited attempts.
• Reading Assignments: In order to understand what accountants do (interpret, evaluate and educate), students must complete reading assignments for certain chapters our textbook.
• Quizzes: These quizzes are open book, open note, untimed and with unlimited attempts. They allow you to check your understanding of the

 

GRADING AND POINT DESCRIPTION:

 

Assignments	Point/Percent
Homework	100    (20%)
Quizzes	100    (20%)
Midterm	100    (20%)
Capstone Project	100    (20%)
Final Exam	100    (20%)
Total Points	500 (100%)

 

Extra Credit: will be announced throughout the course

 

Grading Scale:

500-450= A

449-400= B

399-350= C

349-300= D

<300     = F

 

 

 

Assignment Schedule
Date	Lecture Material	Assignment: All assignments & due dates are all in Canvas
Week #1 - 10/19	Chapter 1: Accounting in Society & Chapter 2: Intro to Financial Statements	Read Ch. 1 & 2; Video Examples; Homework Ch. 1 & 2 Quiz Ch. 1 & 2
Week #2 - 10/26	Chapter 3: Adjusting and Closing & Chapter 4: Analyzing	Read Ch. 3 & 4; Video Examples; Homework Ch. 3 &4 Quiz Ch. 3 & 4
Week #3 - 11/2	Chapter 5: Recording Transactions & Chapter 6: Merchandising Transactions	Read Ch. 5 & 6 ; Video Examples; Homework Ch. 5 & 6 Quiz Ch. 5 & 6
Week #4 – 11/9	Chapter 8: Fraud, Internal Controls & Cash & Chapter 9: Accounting for Receivables	Read Ch. 8 & 9; Video Examples; Homework Ch. 8 & 9 Quiz Ch. 8 & 9
Week #5 – 11/16	Midterm Exam
Week #6 – 11/23	Chapter 10: Inventory & Cost of Sales & Chapter 11: Long Term Assets	Read Ch. 10 & 11; Video Examples; Homework Ch.10 & 11 Quiz Ch. 10 & 11
Week #7 - 11/30	Chapter 12: Current Liabilities & Chapter 13: Long Term Liabilities	Read Ch. 12 & 13; Video Examples; Homework Ch. 12 & 13 Quiz Ch. 12 & 13
Week #8 – 12/7	Chapter 14: Corporate Accounting & Chapter 16: Statement of Cash Flows	Read Ch. 14 & 16; Video Examples; Homework Ch. 14 & 16 Quiz Ch. 14 & 16
Week #9 – 12/14	Capstone Project Due Final Exam