MANOR COLLEGE
JENKINTOWN, PENNSYLVANIA
INSTRUCTOR: Lucia Montelone SEMESTER: Spring 2006
COURSE NAME: AC 102 Accounting II --- 3 Credit Hours
Prerequisite: AC 101-Accounting I
All accounting majors must receive a grade of “C”or better in all accounting courses.
OFFICE HOURS: Business Division Office – (215) 885-2360, Extension 255
Mondays and Wednesday
Fridays,
E-mail: lmontelone@manor.edu
COURSE DESCRIPTION:
A continuation of the study of the accounting cycle with techniques and statements for partnerships and corporations including stockholder’s equity, corporate obligations and investments, and financial statement analysis. The interpretation and use of accounting data as a tool for management decisions in planning and controlling business operations. Topics include financial statement analysis, fund statements, cash flow analysis, budgets, and alternative methods of inventory and depreciation.
PHILOSOPHY OF THE COURSE:
Accounting is the language of business. It is the way business people set goals, measure results, and evaluate performance. It is difficult to participate in these tasks if you don’t speak the language. Today’s accounting systems give decision makers access to large amounts of data through the use of information technologies. Therefore, the priority of this course is to provide additional involvement with the interpretation and use of accounting information acquired at the next level. The course continues to emphasize the current business environment.
COURSE OBJECTIVES:
To acquire a usable and working knowledge of the fundamentals of accounting. This includes accounting terms & vocabulary.
To prepare financial statements for merchandising concerns.
To understand the relationship between internal control and accounting.
To handle cash receipts, cash payments voucher systems, petty cash funds and monthly bank reconciliations for personal use and business concerns.
To record and analyze receivable and uncollectible accounts.
To accurately determine the valuation of inventory and cost of goods sold.
To work with accounting concepts relating to the acquisition, use and disposal of plant assets, and intangible assets.
STUDENT OUTCOMES
#1 OBJECTIVE: To understand accounting terminology and vocabulary as it is known as the language of business.
MEASURE: The student will complete terms and vocabulary questions relevant to each textbook chapter in a test format.
STANDARD: 70% of the students will achieve a grade of “70” or better.
#2 OBJECTIVE: Using a series of business activities, the student will analyze a merchandising business organized as a corporation. The student will be able to do a bank reconciliation, make adjusting entries, prepare an income statement, statement of retained earnings, and a balance sheet & assess the financial condition of a business from a short-term perspective.
MEASURE: The student will complete a comprehensive
problem that will demonstrate the entire accounting cycle for a merchandising
business.
STANDARD: 70% of the students will achieve a grade of “70” or better.
#3 OBJECTIVE: The student will have the opportunity to incorporate information literacy into the framework of this course. Internet assignments will be used to enhance understanding of the accounting materials used in the chapter.
MEASURE: Students will complete assignments that require the use of the Internet. Classroom discussion on the various topics will expand collaborative learning.
STANDARD: 70% of the students will achieve a grade of “70” or better.
APPROACHES TO TEACHING:
In order to facilitate learning, students will have an interactive classroom environment. Lectures will be linked with discussions involving homework assignments and in-depth accounting projects. Students will be able to demonstrate their interest, talent, and ability in this subject by incorporating both analytical and writing skills.
COURSE EVALUATION:
Mid-Term Examination 25%
Final Examination 25%
Chapter Tests/Quizzes/Assignments 25%
Comprehensive Problem 15%
Class Participation/Attendance/Homework 10%
GRADE EQUIVALENT:
90 - 100% A
80 - 89% B
70 - 79% C
60 - 69% D
Below 60% F
NOTE #1: The instructor will attempt to follow the course outline as closely as possible. Revisions to the scheduled material may vary due to the specific needs and interests of the students. If less material should be covered, it will be covered thoroughly and extensively.
NOTE #2:
CALCULATORS are required for all classes and
testing.
No sharing allowed. All students must possess their own
calculator. Cell phone calculators are not acceptable. Points will be deducted
if student is not in compliance at all times.
ATTENDANCE
Attendance at every class is expected. This allows for the student to actively participate in class discussion. If there is more than TWO unexcused absences, this may result in a reduction of the course grade--A COMPLETE LETTER GRADE--
Assignments are to be turned in on the announced due date--”NO EXCEPTIONS”. A late assignment will result in a reduction of the project grade. Emergencies, serious problems, etc. may be negotiated with me. Exam dates will be given in advance with NO scheduled make-up exams except for extreme situations.
A doctor’s note will be required should a student miss 2 or more classes consecutively.
MATERIALS USED: Financial Accounting, 12th Edition
Williams, Haka, Bettner, and Carcello
McGraw-Hill, Inc., 2006
ISBN# 0-07-288467-3
Working Papers for Group A Problems
ISBN# 0-07-299176-3
ACADEMIC INTEGRITY:
I expect my students to uphold the principles of truth and honesty in the performance of all academic work.
Plagiarism (in any form), handing in work prepared for other courses and cheating on examinations and outside assignments is prohibited and will not be tolerated.
The first violation will be a grade of “F” for the assignment or examination with no repeat options. Any subsequent violations will result in a grade of “F” for the course and possible dismissal from the college.
COURSE OUTLINE
SPRING
2006
WEEKS TOPIC CHAPTER
1,2 Merchandising Companies 6
3, 4 Financial Assets 7
4, 5 Inventories and The Cost of Goods Sold 8
6, 7 Plant and Intangible Assets 9
7 Mid-Term Examination
8 Plant and Intangible Assets 9
9 and 10 Liabilities 10
11, 12, and 13 Financial Statement Analysis 14
14 Review
15 Final Examination
NOTE: Subject to change based on the needs of the students.
Comprehensive Problem #2 –Guitar Universe, Inc.
Text pages 445-447, after chapter 9.
Due date to be announced.
Midterms:
February 27-