ACC 1105

Principles of Accounting I

3 Semester Hours

Course Information

Course Description:
This is the second semester of a two semester sequence n principles of accounting. In it, you will complete your studies of basic financial accounting and move into the basic concepts and computations associated with cost and managerial accounting. when you complete this course, you will have completed the undergraduate requirements for two semesters of basic accounting principles.

Course Objectives:
Upon completion of this course, it is expected that students will be able to:
Make all journal entries associated with the formation of a corporation
Prepare a classified balance sheet for a corporation
Make all journal entries associated with the capital section of the balance sheet including:
Sale of stock
Declaration and payments or distribution of dividends
Treasury stock transactions
Declaration and payment of dividends
Make all journal entries associated with long-term liabilities including:
     Issuing bonds at both premiums and discounts
     Adjusting entries for interest expense using both the straight-line
     and effective-interest method of amortization

Make all journal entries associated with Investments including:
Sale and subsequent accounting for
     Trading Investments
     Long-term available-for-sale investments
     Equity method investments
     Consolidated subsidiaries

Prepare statements of cash flow using the indirest method inclusinf:
     the operating section
     The financing section
     The investing section
     Schedule of non-cash transactions

Prepare and explain the significance of both horizontal and vertical analysis

Explain how financial and managerial accounting differ from each other.

Define cost objects, direct costs, and indirect costs

Differentiate between product and period costs

Prepare all journal entries associated with job costing

Prepare all journal entries associated with process accounting including:
     conversion costs
     equivalent units of production
Prerequisites and Corequisites:
Prerequisite: ACC 1104 Principles of Accounting I or similar first semester accounting course with a grade of C or better
Course Topics:
As the second semester of a two-course sequence, this course completes the requirements for a one-year accounting course. Topics covered are shown below:
Corporations: Paid-in Capital and the Balance Sheet
Retained Earnings, Treasury Stock, and the Income statement
Long-term Liabilities
Investments and International Operations
The Statement of Cash Flows
Introduction to Management Accounting
Job Costing
Process Costing
Cost-Volumes-Profit Analysis
Budgeting, including the Cash Budget
Specific Course Requirements:
None
Textbooks, Supplementary Materials, Hardware and Software Requirements
Required Textbooks:

Please visit the Virtual Bookstore to obtain current textbook information for this course:

 http://rodp.bkstr.com
Supplementary Materials:
All supplementary materials for this course are contained on the Web site.
Hardware Requirements:
The minimum requirements can be found at http://www.rodp.org/students/hardware_software.htm. Specific hardware requirements for this course include...
Software Requirements:
The minimum requirements can be found at http://www.rodp.org/students/hardware_software.htm. Specific hardware requirements for this course include...(A list of software the student is required to purchase or download for the course, Real Player, Media Player, Acrobat Reader, Microsoft Office, etc).
Instructor Information
Please see the separate page inside the course to find instructor contact information as well as a statement of virtual office hours and other communication information.
Assessment and Grading
Testing Procedures:
There are four tests in this course. One of the four will be proctored. You will need to find a proctor as soon as possible once the course begins
Grading Procedure:
your grade in this course is determined by the following factors:
Test (four tests will constitute 60% of your grade)
Online quizzes - there is an online quiz at the end of each unit of instruction. You must score at least 90 on these quizzes. Since they tend to be difficult, you will be given as many opportunities to take the quizzes as are necessary to achieve a grade of 90. These will constitute 30 % of your final grade.
Participation - participation in online discussions will constitute 0% of your grade. Students sometimes overlook this component and are disappointed when their final letter grade is a letter-grade lower than they expect.
Grading Scale:
90 - 100 --- A
80 -  89 --- B
70 -  79 --- C
Assignments and Participation
Assignments and Projects:
Please see the calendar for all assignment due dates as well as homework problems that are assigned. Due dates for tests and all materials may be found on the calendar which is located on the course menu on the left side of your screen.
Class Participation:
Participation is a required part of this course. Participation is defined as posting meaningful and thoughtful comments in the discussion system. You will periodically be asked to answer questions as a part of your grade.
Punctuality:
The calendar contains due dates for all items including the beginning dates for all lectures. These dates should be used as milestones to insure that you are on schedule. In the event you find your self falling behind, please let your instructor know. If, at any point in this course, you determine that you cannot keep up, please take the time to contact your home campus and withdraw. You do not want an F on your transcript. 
Course Ground Rules
Participation is required, Expected to communicate with other students in team projects, Learn how to navigate in WebCT, Keep abreast of course announcements , Use the assigned college or university e-mail address as opposed a personal e-mail address, Address technical problems immediately, Observe course netiquette at all times. 
Guidelines for Communications
E-mail:
  • Always include a subject line.
  • Remember without facial expressions some comments may be taken the wrong way. Be careful in wording your e-mails. 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
Discussion Groups:
  • 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.
Chat:
  • Introduce yourself to the other learners in the chat session.
  • Be polite. Choose your words carefully. Do not use derogatory statements.
  • Be concise in responding to others in the chat session.
  • Be prepared to open the chat session at the scheduled time.
  • Be constructive in your comments and suggestion
Web Resources:

Library

The Tennessee Virtual Library is available to all students enrolled in the Regents Degree Program. 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 must be included in all courses. 

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.

Technical Support

If you are having problems logging into your course,
timing out of your course, using your course web site tools, or other technical problems, please contact the AskRODP Help Desk by calling: 1-866-550-7637 or go to the AskRODP website for email/live chat support at:  http://help.rodp.org