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ACCT 1020 Syllabus

Course Syllabus

ACCT 1020 - Principles of Accounting II

3 Credit Hours

Course Information

Course Description:

This is the second semester of a two semester sequence in accounting principles. Students will complete basic financial accounting studies and move into the basic concepts and computations of managerial accounting. Upon completion, students will have finished the undergraduate requirements for two semesters of basic accounting principles.

Course Outcomes:

Upon successful completion of this course, students will be able to:

  1. Identify corporate characteristics and account for equity and long-term liability transactions.
  2. Prepare and interpret a Statement of Cash Flows.
  3. Account for investments in debt and equity securities using generally accepted methods.
  4. Assess the financial position of an entity using various financial analysis tools.
  5. Demonstrate an understanding of management’s needs for accounting information and be able to generate and interpret relevant data.
  6. Classify and account for costs involved in the production process using the appropriate cost system.

In addition, the following are detailed course competencies to support the above course outcomes:

  1. Identify the characteristics of the corporate form of business and list the steps required to incorporate.
  2. Given a description of a corporate equity transaction, prepare in proper format the appropriate journal entries.
  3. Given a description of a transaction for issuance of dividends, be able to record in proper format all required journal entries.
  4. Given a list of accounts and their balances, be able to prepare in proper format a statement of stockholder’s equity.
  5. Given transactions involving long-term liabilities, be able to account for issuance, interest, and redemptions.
  6. Given transactions involving investments, be able to classify and account for marketable securities, available-for-sale securities, held-to-maturity securities, and equity interest securities.
  7. Given financial statements, be able to calculate and interpret vertical, horizontal, and ratio analyses.
  8. Given an open-ended question, demonstrate an understanding of management’s need for accounting information.
  9. Given various financial data, be able to choose that which is relevant and prepare appropriate management reports.
  10. Given job order cost data, be able to account for both physical and cost flows.
  11. Given process cost data, be able to account for both physical and cost flows.
  12. Given financial statements and other relevant data, prepare and interpret a complete statement of cash flows including operating, investing, and financing sections.
  13. Given various financial data, be able to prepare cost-volume-profit analysis, assess results, and make recommendations to improve overall profitability.
  14. Given various financial data and appropriate criteria, be able to prepare cost allocation schedules and classify by desired responsibility level.
  15. Be able to define and distinguish between and among a: direct vs. indirect costs, b: product vs. period costs and c: fixed vs. variable vs. mixed costs
Prerequisites & Co-requisites:

ACCT 1010 with a grade of C or better or an equivalent Principles of Accounting I course.

Course Topics:
  • Module 1: Accounting for corporations, characteristics of corporations, corporate organization and management, issuing common and preferred stock, cash dividends, stock dividends, stock splits, accounting for treasury stock, reporting income and equity including the stockholder’s equity section of the balance sheet.
  • Module 2: Accounting for long-term liabilities; types of bonds; issuing bonds at par, at a discount, and for a premium; bond retirement, accounting for long-term notes payable.
  • Module 3: Basics of investments; short-term versus long-term investments; classes of and reporting for investments; accounting for non-influential investments; accounting for investments in equity securities with significant influence and investment in equity securities with controlling influence.
  • Module 4: Purpose and importance of the statement of cash flows; measurement and classification of cash flows; format and preparation of the statement of cash flows.
  • Module 5: Purpose of financial analysis; building blocks of financial analysis; horizontal, vertical, and ratio analysis.
  • Module 6: Purpose of managerial accounting; managerial cost concepts; types and identification of cost classifications; manufacturer’s balance sheet; manufacturer’s income statement; manufacturing statement.
  • Module 7: Job order cost accounting; materials cost flows and documents; labor cost flows and documents; accounting for overhead.
  • Module 8: Process cost accounting; accounting for materials, labor, and overhead; equivalent units of production.
  • Module 9: Cost-Volume-Profit analysis; break-even analysis; computing sales at target income; computing margin of safety.
  • Module 10: Budgeting; benchmarking; preparing master budgets.
Specific Course Requirements:

Students taking this class should have a reliable internet connection, general familiarity with a personal computer and the internet.

Textbooks, Supplementary Materials, Hardware and Software Requirements

Required Textbooks:

Please visit the Virtual Bookstore to obtain textbook information for this course. Move your cursor over the "Books" link in the navigation bar and select "Textbooks & Course Materials." Select your Program, Term, Department, and Course; then select "Submit."

Supplementary Materials:

A Connect (Homework) Code is included in the TN eCampus bookstore bundle.

Hardware and Software Requirements:

Minimum hardware requirements can be found here.

Minimum software requirements can be found here.

Common applications you might need:

Web Resources:

Purdue OWL Online Writing Lab (for APA, MLA, or Chicago style)

The Writing Center Online Writer's Handbook

Student Resources:
  • Technical support information can be found on the TN eCampus Help Desk page.
  • Smarthinking virtual tutoring is available FREE of charge. to access Smarthinking, visit the course homepage and select Smarthinking under Course Resources. You also view sample sessions to see what Smarthinking offers and how it works.
  • Information on other student issues or concerns can be located on the TN eCampus Student Resources page.

Instructor Information

Please see "Instructor Information" in the Getting Started Module for instructor contact information, virtual office hours, and other communication information. You can expect to receive a response from the instructor within 24-48 hours unless notified of extenuating circumstances.

Participation, Assessments, & Grading

Testing Procedures:

Students will take five tests from within their D2L class shell.

Grading Procedures:

The evaluation system is based on points. You may earn bonus or extra credit points along the way, but the required elements are based on the following point system:

Discussion Postings (See discussion rules inside the course shell) 5%

10 Homework Assignments (See Connect) 15%

5 Tests 80%

Total Course Points 100%

Extra Credit (Chapter Reviews) 7.5%

Total Possible Points 107.5%

Grading Scale:

90 - 100 points A

80 - 89 points B

70 - 79 points C

65 – 69 points D

64 points and below F

Assignments and Projects:

Homework assignments are completed in Connect, an online homework management system. In addition, similar Chapter Reviews are provided in this same location for Extra Credit. Each class will have a unique class Connect URL where students are to register. The assignments consist of Quick Studies, Exercises and/or Problems from the end-of-the chapter text material. However, the majority of the assigned work is algorithmic. That is each Attempt provides a new set of numbers. There is a Check My Work feature which allows students to know if their answers are correct or incorrect. If incorrect, the student may attempt other answer(s) as many times as necessary.

Typical Module Assignments:

ASSIGNED CHAPTERS AND HOMEWORK

1 - Accounting for Corporations

2 - Long-Term Liabilities

TEST 1 - Modules 1&2

3 -Investments

4 - Reporting the Statement of Cash Flows

TEST 2 - Modules 3&4

5 - Analysis of Financial Statements Include Appendix A

6 - Managerial Accounting Concepts and Principles

TEST 3 - Modules 5&6

7 - Job Order Cost Accounting

8 - Process Cost Accounting

TEST 4 - Modules 7&8

9-Cost-Volume-Profit Analysis

10-Master Budgets and Planning

TEST 5 - Modules 9&10

Class Participation:

Students are expected to post in the Discussions area twice weekly for full credit. Students are to refer to the Discussion Rules inside the class.

Late Policy:

Tests and/or Assignments may only be submitted late in the event of an emergency. Students are to contact the instructor prior to the due date of the assignment regarding any delays or a request for an extension (due to an emergency). If you do not contact the instructor prior to the due date you may not be eligible to submit an assignment late.

Note: It is at the discretion of the instructor as to whether a student is allowed to submit a test or assignment late. The late policy is for emergencies only.

Course Ground Rules

The following two statements (1., 2.) were derived from the TBR System-wide Student Rules document, released January 2012:

RULES OF THE TENNESSEE BOARD OF REGENTS STATE UNIVERSITY AND COMMUNITY COLLEGE SYSTEM OF TENNESSEE SYSTEMWIDE STUDENT RULES CHAPTER 0240-02-03 STUDENT CONDUCT AND DISCIPLINARY SANCTIONS

Read the document in its entirety here.

1. Standards of Conduct:

  • Students are required to adhere to the same professional, legal and ethical standards of conduct online as on campus. In addition, students should conform to generally accepted standards of "netiquette" while sending e-mail, posting comments to the discussion board, and while participating in other means of communicating online. Specifically, students should refrain from inappropriate and/or offensive language, comments and actions.

2. Review the TN eCampus Academic Integrity/Academic Honesty Policy:

  • In their academic activities, students are expected to maintain high standards of honesty and integrity. Academic dishonesty is prohibited.

Such conduct includes, but is not limited to:

  • an attempt by one or more students to use unauthorized information in the taking of an exam
  • to submit as one's own work, themes, reports, drawings, laboratory notes, computer programs, or other products prepared by another person,
  • or to knowingly assist another student in obtaining or using unauthorized materials.

Plagiarism, cheating, and other forms of academic dishonesty are prohibited.

Students guilty of academic misconduct, either directly or indirectly through participation or assistance, are subject to disciplinary action through the regular procedures of the student’s home institution.  Refer to the student handbook provided by your home institution to review the student conduct policy.

In addition to other possible disciplinary sanctions that may be imposed, the instructor has the authority to assign an "F" or zero for an activity or to assign an "F" for the course.

Other Course Rules:

Students are expected to:

  • Participate in all aspects of the course
  • Communicate with other students
  • Learn how to navigate in Brightspace
  • Keep abreast of course announcements
  • Use the assigned course management (Brightspace) email address rather than a personal email address
  • Address technical problems immediately:
  • Observe course netiquette at all times.

Guidelines for Communications

Email:

  • Always include a subject line.
  • Remember without facial expressions some comments may be taken the wrong way. Be careful in wording your emails. Use of emoticons might be helpful in some cases.
  • Use standard fonts.
  • Do not send large attachments without permission.
  • Special formatting such as centering, audio messages, tables, html, etc. should be avoided unless necessary to complete an assignment or other communication.
  • Respect the privacy of other class members

Discussions:

  • Review the discussion threads thoroughly before entering the discussion. Be a lurker then a discussant.
  • Try to maintain threads by using the "Reply" button rather starting a new topic.
  • Do not make insulting or inflammatory statements to other members of the discussion group. Be respectful of other’s ideas.
  • Be patient and read the comments of other group members thoroughly before entering your remarks.
  • Be cooperative with group leaders in completing assigned tasks.
  • Be positive and constructive in group discussions.
  • Respond in a thoughtful and timely manner.

Library

The Tennessee Virtual Library is available to all students enrolled in TN eCampus programs and courses. Links to library materials (such as electronic journals, databases, interlibrary loans, digital reserves, dictionaries, encyclopedias, maps, and librarian support) and Internet resources needed by learners to complete online assignments and as background reading will be included within the course modules. To access the Virtual Library, go to the course homepage and select the Virtual Library link under Course Resources.

Students with Disabilities

Qualified students with disabilities will be provided reasonable and necessary academic accommodations if determined eligible by the appropriate disability services staff at their home institution. Prior to granting disability accommodations in this course, the instructor must receive written verification of a student's eligibility for specific accommodations from the disability services staff at the home institution. It is the student's responsibility to initiate contact with their home institution's disability services staff and to follow the established procedures for having the accommodation notice sent to the instructor.

Syllabus Changes

The instructor reserves the right to make changes as necessary to this syllabus. If changes are necessitated during the term of the course, the instructor will immediately notify students of such changes both by individual email communication and posting both notification and nature of change(s) on the course bulletin board.

Disclaimer

The information contained in this syllabus is for general information purposes only. While we endeavor to keep this information up-to-date and accurate, there may be some discrepancies between this syllabus and the one found in your online course. The syllabus of record is the one found in your online course. Please make sure you read the syllabus in your course at the beginning of the semester. Questions regarding course content should be directed to your instructor.


Last Revised on May 16, 2017