CCBC, Fall Semester, 2014 School of Business, Criminal Justice, & Law

Financial Studies Department - Accounting

ACCT 101 Principles of Accounting I Section: WE1 (CRN# 90009) & WE2 (CRN# 93944)
Syllabus & General Course Outline
ACCT 101 3 credits Principles of Accounting I provides in-depth study of the accounting cycle for
sole proprietorships including record-keeping, preparation of financial statements, and the theory of
accounts; uses computer technology and problem-solving techniques to supplement classroom work.
Prerequisites: (RNDG 052 and ENGL 052) or ACLT 052; and MATH 081

I. Basic Course Information
A. Associate Professor: Regina K. Shea, MS, CPA,
Accounting Program Coordinator, Dundalk / Essex
B. Office: Essex, E.BESS-105; 443.840.1858; email: rshea@ccbcmd.edu
During the semester use the Messages tool in Blackboard
C. Office hours:
Monday: Online - 7:30am-10:30am
Tuesday: E.BESS-105 8:00am-10:30am
Wednesday: E.BESS-105 3:15pm-5:45pm & 8:40pm-9:10pm
Thursday: E.BESS-105 8:00am-10:30am
Friday: By appointment
Saturday and Sunday: Not available
D. School of Business, Criminal Justice and Law (Administrative Assistant);
Telephone number: 443-840-4545 (Emergency only); Fax number: 443-840-1401
F. This is a three-credit course offered over 15 weeks. You are expected to complete at least
nine hours of work per week of reading, course preparation, homework, studying, etc.
G. Materials required:
Fundamental Accounting Principles, 21
st
edition, by Wild, Shaw and Chiapetta
Connect Plus all assignments and assessments will be submitted using the Blackboard
link to Connect. A three-week Connect Plus trial version is available for free
when you register, if you have not already purchased your textbook.
Non-programmable calculator for use at the Testing Center.
Student Working Papers for Chapters 1-12 (optional, but very helpful).
H. This class is conducted using Blackboard and Connect Plus.


II. Overall Course Objectives
A. Upon completion of this course, students will be able to:
1. define and apply basic generally-accepted accounting principles; e.g., cost, revenue recognition,
matching and full disclosure; and assumptions; e.g., going-concern, monetary unit, time period
and business entity;
2. analyze business transactions and apply the mechanics of double-entry bookkeeping;
3. prepare a trial balance;
4. analyze and journalize adjusting entries and closing entries;
5. prepare a set of financial statements: income statement, statement of owners equity, and a
classified balance sheet;
6. use liquidity and efficiency ratios to analyze financial statements;
7. compute cost of goods sold and gross profit and explain their relevance to the financial
statements;
8. analyze and record transactions for merchandise purchases and sales;
9. compute cost of goods sold and inventory in a perpetual system using the methods of specific
identification, first-in, first-out (FIFO), last-in, first-out (LIFO), and weighted average;
10. identify the principles and components of accounting information systems;
11. define internal control and identify its purpose and principles;
12. prepare a bank reconciliation;
13. apply accounting procedures to estimate uncollectible accounts receivable;
14. compute the cost of plant assets;
15. compute and record depreciation using the straight-line, declining-balance, and units-of-
production methods;
16. journalize asset disposal through discarding or selling an asset;
17. identify important characteristics of liabilities and their classification; and
18. journalize basic payroll entries.

B. Major Topics
I. Accounting in Business
A. Fundamentals of Accounting
B. Transaction Analysis and the Accounting Equation
C. Financial Statements
II. Analyzing and Recording Transactions
A. Analyzing and Recording Process
B. Analyzing and Processing Transactions
C. Trial Balance
III. Adjusting Accounts and Preparing Financial Statements
A. Timing and Reporting
B. Adjusting Accounts
C. Preparing Financial Statements
IV. Completing the Accounting Cycle
A. Work Sheet as a Tool
B. Closing Process
C. Accounting Cycle
D. Classified Balance Sheet
V. Accounting for Merchandising Operations
A. Merchandising Activities
B. Accounting for Merchandising Purchases
C. Accounting for Merchandise Sales
D. Completing the Accounting Cycle
E. Financial Statement Formats
VI. Inventories and Cost of Sales
A. Inventory Basics
B. Inventory Costing under a Perpetual System
C. Valuing Inventory at LCM and the Effects of Inventory Errors
VII. Accounting Information Systems
A. Fundamental System Principles
B. Components of Accounting Systems
C. Special Journals in Accounting
D. Technology-Based Accounting Systems
VIII. Cash and Internal Controls
A. Internal Controls
B. Control of Cash
C. Banking Activities as Controls
IX. Accounting for Receivables
A. Accounts Receivable
B. Notes Receivable
C. Disposal of Receivables
X. Plant Assets. Natural Resources and Intangibles
A. Cost Determination
B. Depreciation
C. Additional Expenditures
D. Disposals of Plant Assets
E. Natural Resources
F. Intangible Assets
XI. Current Liabilities and Payroll Accounting
A. Characteristics of Liabilities
B. Known Liabilities
C. Estimated Liabilities
D. Contingent Liabilities

C. Rationale
This course is the first course in a required two-course sequence. The Community College of
Baltimore County is committed to providing a high-quality learning experience that results
in a growth in knowledge, attitudes, and skills necessary to function successfully as a
transfer student, in a career, and as a citizen. To accomplish this goal, we maintain high
academic standards and expect students to accept personal responsibility for their
individual growth by attending class (login to Blackboard on a regular basis), completing all
assignments in Connect, participating in activities, discussions, and preparing for tests and
exams.
III. Evaluation
A. Requirements, Points and Evaluation
Chapter Assignments (LearnSmart; Exercises and Problems) All assignments must be
completed. Refer to Course Related Policies and Procedures for more detailed
information about the assignments.
Assessments (Periodic Exams) all exams must be taken; students not taking any exam
will fail the course.

B. Grading Policy
Assignments and Assessments Point Value
LearnSmart 100
Exercises and Problems 200
Exam #1 @ Testing Center (Chapters 1, 2, 3) 200
Exam #2 @ Testing Center (Chapters 4, 5, 6) 200
Exam #3 @ Home (Chapters 8, 9, 10, 11) 200
Cumulative Final Exam @ Testing Center 100
Total Points for the course 1000
Extra Credit Chapter 7 30
Total Possible Points 1030

Final Points Letter Grade
900-1000 A -- Excellent
800-899 B Good Work
700-799 C Satisfactory Work
600-699 D Poor Work, but Passing
Below 600 F Non-completion of course requirements or
unsatisfactory completion
C. Attendance Policy Regular attendance/participation is critical to student success in college.
All students are expected to attend and participate regularly to gain the maximum benefit from
instruction and to contribute to the learning process. Lack of attendance/participation may
result in the LOSS OF ALL of a students financial aid or Veterans benefits. Per this course
syllabus, failure to follow the attendance/participation policy will have an effect on the
students overall grade including the possibility of academic failure.
Students are expected to login to Blackboard three times per week. If students are having
difficulty with the chapter material, exercises and/or problems they should post their questions
to the discussion board in Blackboard. Do not wait until the end of the semester to tell me
about exceptional situations in your life.

D. Audit Policy According to the fall 2014 Academic Calendar, the last day to change to audit
(AU) status is Tuesday, September 16, 2014. If you change to audit status (AU), you are
expected to contact the instructor to determine the course requirements. Or otherwise the
AU grade will change to a W.

E. Withdrawal Policy - According to the fall 2014 Academic calendar, the last day to withdraw
with a (W) on your transcript is Wednesday, November 5, 2014.

F. Academic Integrity Cheating and plagiarism will not be tolerated. A student found to have
engaged in either will receive a failing grade for the course.

G. Due dates will be extended only for the following reasons with no exceptions:
A medical situation where a doctors note with a telephone number must be sent to me
by (fax, scan, or mail); or the
Death of an immediate family member you must be listed in the obituary or get at
note from the funeral director the maximum time to grieve is three days.

IV. Course Procedures
A. Course-related policies and procedures:
All students must use Blackboard to link to the Assignments and Assessments in
Connect. Do not go directly to Connect to complete your work. Students not following
this direction will fail the course.
Students should complete the LearnSmart assignments for each chapter with a grade of
ten (10) points before starting the exercises and problems. Students meeting this
requirement are generally more successful in this course.
Keep in mind that the LearnSmart assignments must be completed with a grade of 10
points for each chapter by the due date and time listed on the Assignments and
Assessments webpage. LearnSmart will allow you to complete the work after the due
date and time, however you will only earn the points completed at the exact day and
time it is due that is listed on the Assignments & Assessments page.
Homework Assignments: Exercise and Problem assignments, with a grade of 20 points
for each chapter, are to be completed by linking to Connect through Blackboard only.
Every homework chapter should be completed. If you have any difficulty, post your
question on the appropriate chapter discussion board in Blackboard. Students
skipping any one chapter, except the extra credit, will be penalized 200 points.
Assessments: Exam #1 and Exam #2 will be taken using Connect at a CCBC Testing
Center, unless Out-of-State Proctor arrangements have been made prior to the start of
the semester, or during the first week of the semester. Exam #3 will be taken using
Connect at home. Students may not skip the chapter work and only take the exams.
The Cumulative Final Exam will be taken at a CCBC Testing Center.

CCBC Code of Academic Integrity:
For the College to make its maximum contribution as an institution of higher
learning, the entire college community must uphold high standards of integrity,
honesty, and ethical behavior. In seeking the truth, in learning to think critically, and in
preparing for a life of constructive service, honesty is imperative. Each student has a
responsibility to submit work that is uniquely his or her own, or to provide clear and
complete acknowledgement of the use of work attributable to others. To these ends,
the following actions are expected of students:
Complete all work without unauthorized assistance;
Follow the professors instructions when completing all class assignments;
Ask for clarification when instructions are not clear;
Provide proper credit when quoting or paraphrasing;
Submit only ones own work.
Failure to comply with the college Code of Academic Integrity will result in a failing
grade for this class.

B. College wide syllabus policies: For college wide syllabus policies such as the Code of
Conduct related to Academic Integrity and Classroom Behavior or the Audit/Withdrawal
policy, go to the Syllabus Tab on the MyCCBC page.

C. Contact information for course-related concerns: CCBC is dedicated to helping students
make the most of their academic experience; therefore we seek to maintain a positive
environment for you to attain your academic goals. If you encounter problems or have
concerns about an experience you have encountered, there are established procedures
that you may use to bring your concerns to the attention of the proper authorities
within CCBC. Please see * below.

D. Services for Student with Disabilities: CCBC is committed to providing equal access to
educational opportunities for all students by arranging support services and reasonable
accommodations for students with disabilities. A student with a disability may contact
the appropriate campus office for an appointment to discuss reasonable
accommodations. An appointment must be scheduled within a time period that allows
staff adequate time to respond to the special needs of the student. The student must
provide the appropriate office with proper documentation supporting the need for
reasonable accommodations. For more information, contact:
CCBC
Catonsville
Student Services Center
room 202
443-840-5617 (V/TTY)
CCBC
Dundalk
College Community Center
room 220A
443-840-3774 443-840-3529 (TTY)
CCBC
Essex
Student Services Center
room 210
443-840-1741 443-840-1601 (TTY)

* Students should first attempt to take concerns to the faculty member/program coordinator, Professor Regina
Shea, or her administrative assistant, Paige Sweeney at 443-840-4545. If students are unable to resolve course-
related concerns with the instructor/program coordinator, they should contact Professor Jane Mattes, Financial
Studies Department Chair, at her 443-840-4735 or jmattes@ccbcmd.edu; or her administrative assistant, Paige
Sweeney at 443-840-4545. If this matter remains unresolved, you would contact Dr. Dennis Seymour, Dean of the
School of BCJL (Business, Criminal Justice, and Law) at dseymour@ccbcmd.edu. Please see the URL below for
additional information:
http://ccbcmd.edu/catalog/senatepolicies/Student_Concerns_Policy.html

This syllabus may be changed at any time with notification to the class.
Print a copy of this syllabus for your records.

ACCT 101 - Course Schedule Fall 2014

Due Date List of Topics Assignments & Assessments / Extra Credit Points
Orientation to the Course Review Syllabus / Log into Connect through Blackboard 0
Tuesday Sept. 2 Accounting in Business Chapter 1 LearnSmart 10
Tuesday Sept. 9 Chapter 1 Exercises 1-8, 1-11, 1-14, 1-15, 1-16
Chapter 1 Problems 1-1A, 1-8A
20
Sunday Sept. 14 Analyzing and Recording
Transactions
Chapter 2 LearnSmart 10
Tuesday Sept. 16 Chapter 2 Exercises 2-4, 2-5, 2-9, 2-10, 2-16, 2-17
Chapter 2 Problems 2-1A
20
Sunday Sept. 21 Adjusting Accounts and Preparing
Financial Statements
Chapter 3 LearnSmart 10
Tuesday Sept. 23 Chapter 3 Exercises 3-3, 3-5, 3-7, 3-10
Chapter 3 Problems 3-3A, 3-4A
20
Tuesday Sept. 30 Exam #1 @ Testing Center Last Day to take Exam #1 200
Sunday Oct. 5 Completing the Accounting Cycle Chapter 4 LearnSmart 10
Tuesday Oct. 7 Chapter 4 Exercises 4-1, 4-3, 4-5, 4-6, 4-11
Chapter 4 Problems 4-1A, 4-2A
20
Sunday Oct. 12 Accounting for Merchandising
Operations
Chapter 5 LearnSmart 10
Tuesday Oct. 14 Chapter 5 Exercises 5-2, 5-4, 5-5, 5-10
Chapter 5 Problems 5-1A
20
Sunday Oct. 19 Inventories and Cost of Sales Chapter 6 LearnSmart 10
Tuesday Oct. 21 Chapter 6 Exercises 6-3, 6-10, 6-16, 6-17
Chapter 6 Problems 6-1A
20
Tuesday Oct. 28 Exam #2 @ Testing Center Last Day to take Exam #2 200
Sunday Nov. 2 Cash and Internal Controls Chapter 8 LearnSmart 10
Tuesday Nov. 4 Chapter 8 Exercises 8-7, 8-9, 8-10, 8-11, 8-12
Chapter 8 Problems 8-4A, 8-5A
20
Sunday Nov. 9 Accounting for Receivables Chapter 9 LearnSmart 10
Tuesday Nov. 11 Chapter 9 Exercises 9-4, 9-5, 9-9, 9-14
Chapter 9 Problems 9-2A, 9-3A
20
Sunday Nov. 16 Plant Assets, Natural Resources, and
Intangibles
Chapter 10 LearnSmart 10
Tuesday Nov. 18 Chapter 10 Exercises 10-1, 10-2, 10-6, 10-7, 10-8, 10-15,
10-23, 10-24
20
Sunday Nov. 23 Current Liabilities and Payroll
Accounting
Chapter 11 LearnSmart 10
Tuesday Nov. 25 Chapter 11 Exercises 11-1, 11-4, 11-6, 11-7, 11-9 20
Sunday Nov. 30 Accounting Information Systems Extra Credit
Chapter 7 LearnSmart
10
Tuesday Dec. 2 Extra Credit
Chapter 7 Quick Studies 7-1, 7-4, 7-8
Chapter 7 Exercises 7-2, 7-4, 7-7
20
Sunday Dec. 9 Exam #3 @ Home Last day to take Exam #3 200
Tuesday Dec. 16 Final Exam @ Testing Center Last day to take the Cumulative Final Exam 100
Total Points for the Course with Extra Credit 1030