accounting

Principles of Accounting (ACC 201)

Fall Semester - 2017

Required Resources: Horngren’s Accounting, 12th edition, Nobles-Mattison-Matsumura (Pearson 2018). MyAccountingLab access subscription (NOTE: The access subscription for MyAccountingLab (MAL) is bundled with new textbook from the bookstore. To register online, use this Course ID: poole85605 for Section A (9:00) or poole66136 for Section C (11:00), as explained in the instructions below.

Course Description: This course provides an introduction to the field of accounting, to the basic fundamentals of the accounting cycle (recording, summarizing, and reporting), and to the principles of asset valuation, income measurement, liability recognition, equity presentation, accounting systems, and internal controls.

Course Rationale: Accounting 201 is a core course in the School of Business. It is designed to stimulate the intellectual development of business and accounting students by developing the basic skills needed to be knowledgeable users of financial statements.

Course Objectives: 1. To provide students with a firm grasp of the essential business and accounting terminology and techniques needed to succeed in a business environment.

2. To learn how to read, understand, interpret, and analyze financial statements for effective business decision-making.

3. To build accounting knowledge by using various learning techniques.

Methods of Instruction: Class time will be spent in lecture and class discussion of accounting theory, exercises, and problems. Student participation is imperative. All questions and appropriate comments are welcome. Students should also access the course in MC’s Moodle platform. Homework and quizzes will be administered via Pearson’s MyAccountingLab platform.

Reading, Lectures, and Studying:

Read each chapter (as indicated in each week’s Moodle module) in the e-book, and use the chapter outline (found under Resources in each week’s module) to take notes. 

Use the chapter’s PowerPoint and Lecture Summary (also found under Resources in each week’s module) to supplement the text.

Watch the animated lecture videos within MyAccountingLab under the “Multimedia Library” tab.  From these lectures, you can add to your notes. 

Learning research shows that long-term learning is most effective when learning activities are done in small segments over a period of time. The recommended study cycle for each chapter involves reading—including text, PowerPoint, and lecture summaries--, DSM & MAL Study Plan, homework. Students are expected to (1) preview and scan chapters before attempting DSM, (2) read chapters more closely while completing MAL Study Plan and homework assignments, AND (3) consider end-of-chapter materials including Review, Check Your Understanding, Key Terms, and Review Questions, to focus attention on emphasized concepts, relationships, and problem-solving examples.

Assignments:

Complete the Dynamic Study Module (DSM) within the MyAccountingLab platform.  From completing the DSM and the homework below, your adaptive Study Plan for each chapter will be built (automatically) within MyAccountingLab. 

MyAccounting Lab (MAL): One of the most important skills college students can develop is time management. The most common cause of failure to successfully complete this course is getting behind from lack of self-discipline or from succumbing to other competing time demands. Your primary tool for online work is MAL. The learning pace and timing of MAL activities will help you successfully complete the course and retain the knowledge you acquire.

Homework:

Complete the assigned homework exercise and problem(s) in MyAccountingLab (within the “Assignments” tab). Assignments similar to chapter problems are in MAL. To promote your steady progress through the course, homework must be completed before the deadline shown on the Course Schedule. There are hints available to you as you work the problems and there are “Help me solve this” example problems.

Study Plan:

This personalized study plan will be open and available for you to complete throughout the semester until the final exam, but it is recommended that you should try to complete each chapter before you move on to the next chapter. The mastery points you earn will contribute to your overall grade based on percentage of completion of your Study Plan.

Quiz:

Take the quiz for this week’s chapter within MyAccountingLab.

Supplemental Resources:

These include an eBook, on-line lectures, demonstration problems for each concept (these can be downloaded to other devices), as well as flash cards and games to play using these concepts. Each chapter has Sample Practice Pre-test and Sample Practice Posttest (MAL practice quizzes that earn NO points) which you can use to make sure you understand all the concepts from the chapter.

Attendance Regulation: Class attendance is an essential part of college education, and students are expected to attend regularly and punctually all classes for which they are registered. Please read the Mississippi College General Bulletin regarding absences.

Exam Contents: The exams during the semester will primarily test your ability to solve accounting problems. You will need a calculator for these exams. Text programmable calculators are not allowed to be used during quizzes or exams.

Drop Policy: The university drop policy will be followed.

Course Grade: The course grade is determined as follows:

90 to 100% = A; 80 - 89% = B; 70 - 79% = C; 60 - 69% = D; Below 60% = F.

Four exams will be equally weighted at 20% each and will make up 80% (4 x 20%) of your grade. Homework and quizzes will make up the remaining 20% of your grade.

Exams 80%

Homework 10%

DSM 5%

Quiz 5%

Academic Integrity and Student Responsibility: Mississippi College students are expected to be scrupulously honest. Dishonesty, such as cheating or plagiarism, will be regarded as a serious offense subject to severe penalty including, but not limited to, loss of credit and possible dismissal. See the Mississippi College Tomahawk or University Policy 2.19 for specific information.

Retaining Student Work: The instructor reserves the right to retain for pedagogical reasons any student’s exam, quiz, written assignment, paper, etc. submitted by the student.

Language Translators: No electronic language translators may be used during tests/quizzes. Students may consult a hard copy translator if necessary.

Please refrain from the use of cellular/mobile devices, including photography, during class meetings.

Tentative Schedule

Date Chapter/Topic

Aug 21-27 Ch. 1; Accounting and the Business Environment

28-03 Ch. 2; Recording Business Transactions

Sept 04-10 Ch. 3; The Adjusting Process

11-17 EXAM 1

18-24 Ch. 4; Completing the Acctg Cycle

25-01 Ch. 5; Merchandising Transactions

Oct 02-08 EXAM 2

09-15 Fall Break

16-22 Ch. 6; Merchandise Inventory

23-29 Ch. 7; Accounting Information Systems

30-05 EXAM 3

Nov 06-12 Ch. 8; Internal Control and Cash

13-19 Ch 9; Receivables

20-26 Thanksgiving Break

27-03 Review Week

Dec 04-11 EXAM 4

Final Exam: 9:00am MWF class is Friday, December 8th from 8:00am-10:00am.

11:00am MWF class is Wednesday, December 13th from 12:00pm-2:00pm.

Chapter Tentative Assignments

1 Exercises 1-17,18,21,23,41,43,46

2 Exercises 2-12,16,17,30,32,34

3 Exercises 3-19,27,35,37,38

4 Exercises 4-18,19,24,33

5 Exercises 5-18,34,36,38

6 Exercises 6-19,22,29,30,31

7 Exercises 7-24,25,26

8 Exercises 8-24,25,28

9 Exercises 9-28,29,31,33

Disability Accommodations

 

In order for a student to receive disability accommodations under Section 504 of the Americans with Disabilities Act, he or she must schedule an individual meeting with the Director of Student Counseling Services immediately upon recognition of their disability (if their disability is known they must come in before the semester begins or make an appointment immediately upon receipt of their syllabi for the new semester). The student must bring with them written documentation from a medical physician and/or licensed clinician that verifies their disability. If the student has received prior accommodations, they must bring written documentation of those accommodations (example Individualized Education Plan from the school system).  Documentation must be current (within 3 years).The student must meet with SCS face-to face and also attend two (2) additional follow up meetings (one mid semester before or after midterm examinations and the last one at the end of the semester). Please note that the student may also schedule additional meetings as needed for support through SCS as they work with their professor throughout the semester. Note:  Students must come in each semester to complete their Individualized Accommodation Plan (example: MC student completes fall semester IAP plan and even if student is a continuing student for the spring semester they must come in again to complete their spring semester IAP plan).

 

Student Counseling Services is located in Alumni Hall Room #4 or they may be contacted via email at [email protected] or [email protected]. You may also reach them by phone at 601-925-7790.

Early Alert System

Mississippi College has adopted the practice of finding students early in the semester who may be exhibiting behaviors that could ultimately have a negative impact on their academic progress. These behaviors are often called “red flag” behaviors and include, but are not limited to, excessive absences, poor test grades, and lack of class participation or evidence of non-engagement. Identifying these behaviors early gives the instructor the opportunity to raise the “red flag” on behalf of a particular student so that the student can take the appropriate action to redirect his/her progress. The system alerts the student, the student’s advisor, and the Office of Student Success.

These messages are intended to help a student recognize an area of concern and to encourage him/her to make some choices to improve the situation. When a student receives an Early Alert message, the student should quickly make an appointment to talk with his/her professor about the situation. Also, students can make full use of the Office of Student Success to set academic goals and connect to campus resources.

Speaker Series

Mississippi College School of Business offers an excellent opportunity for students to get first-hand interaction with successful business people through its speaker series. Please plan to attend the following speaker series this semester. Students who attend and type a one page paper on how the speaker’s comments relate to the student will earn extra credit points.

Student Registration Instructions for Pearson’s MyLab

To register for Principles 1- Fall 2017- Section A, 9:00 am – 9:50 am MWF:

1. Go to www.pearsonmylabandmastering.com.

2. Under Register, select Student.

3. Confirm you have the information needed, then select OK! Register now.

4. Enter your instructor’s course ID: poole85605, and Continue.

5. Enter your existing Pearson account username and password to Sign In.

You have an account if you have ever used a Pearson MyLab & Mastering product, such

as MyMathLab, MyITLab, MySpanishLab, MasteringBiology or MasteringPhysics.

If you don’t have an account, select Create and complete the required fields.

6. Select an access option.

Enter the access code that came with your textbook or was purchased separately

from the bookstore.

Buy access using a credit card or PayPal account.

If available, get temporary access by selecting the link near the bottom of the

page.

7. From the You're Done! page, select Go To My Courses.

8. On the My Courses page, select the course name Principles 1- Fall 2017- Section 1 to

start your work.

To register for Principles 1- Fall 2017- Section C, 11:00 am – 11:50 am MWF:

1. Go to www.pearsonmylabandmastering.com.

2. Under Register, select Student.

3. Confirm you have the information needed, then select OK! Register now.

4. Enter your instructor’s course ID: poole66136, and Continue.

5. Enter your existing Pearson account username and password to Sign In.

You have an account if you have ever used a Pearson MyLab & Mastering product, such

as MyMathLab, MyITLab, MySpanishLab, MasteringBiology or MasteringPhysics.

If you don’t have an account, select Create and complete the required fields.

6. Select an access option.

Enter the access code that came with your textbook or was purchased separately

from the bookstore.

Buy access using a credit card or PayPal account.

If available, get temporary access by selecting the link near the bottom of the

page.

7. From the You're Done! page, select Go To My Courses.

8. On the My Courses page, select the course name Principles 1- Fall 2017- Section A or C (9:00 or 11:00) to

start your work.

To sign in later:

1. Go to www.pearsonmylabandmastering.com.

2. Select Sign In.

3. Enter your Pearson account username and password, and Sign In.

4. Select the course name Principles 1- Fall 2017- Section A or C (9:00 or 11:00) to start your work.

To upgrade temporary access to full access:

1. Go to www.pearsonmylabandmastering.com.

2. Select Sign In.

3. Enter your Pearson account username and password, and Sign In.

4. Select Upgrade access for Principles 1- Fall 2017- Section A or C (9:00 or 11:00).

5. Enter an access code or buy access with a credit card or PayPal account.