Course Syllabus

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ACC-121-RL01 FA20.pdf

  1. Course and Instructor

Format:  

  • Flex: These courses will have a designated class schedule. The designated schedule will have virtual meetings conducted using videoconferencing technology like Webex or Zoom. Students must have access to technology to attend the course and attend the Webex or Zoom sessions. Some of these courses may have optional face-to-face components such as small group discussions, group projects, or similar.

 

 

 

Course Title: Accounting Principles I      

Course Code: ACC121    

Semester: Fall 2020

Meeting Days & Times: Thursdays 6:00-8:00 PM

 

Class Location:     Flex West Garfield Room 165 – Zoom Via the Canvas Shell

Syn. Number: 26066        

Credits: 4            

Prerequisite: College level reading                     

Start Date: 08/27/20                     
End Date:              12/10/20
Refund Date: 09/11/20                 
Withdraw Date:     11/13/20

 

 No-Show Reporting Date: _09/02/2020_____

I am required to report any “no-show” student to the Registrar’s office. No-Show is determined based on your attendance and engagement in the first seven days of this course. You will be reported as a no-show for this course if you have not attended our first In-Person or virtual class (Flex or Online) meeting nor logged into Canvas and completed Introduce Yourself Discussion Board within the first seven days from the course start date.

 

As per the CMC catalog, if you are dropped for non-attendance, a refund is not automatic nor guaranteed. If you have not attended, be sure to check Student Planning to see whether you are still registered in the class. If you are still registered and you do not attend, you risk receiving a failing grade.

If you are dropped as a no-show student, class reinstatement cannot occur without significant documentation of extenuating circumstances. You would first need to contact the course instructor for approval. If reinstatement is approved, you would need to proceed with the Late Registration process.

No-Show Reporting & Financial Aid: If a student is dropped from a course (or courses) for non-attendance, the resultant loss in credit hours may cause a reduction and/or cancellation of his/her financial aid award. Like class reinstatement, financial aid awards can only be reinstated with documentation of extreme extenuating circumstances. Reinstatement in a class DOES NOT guarantee financial aid reinstatement.

 

Instructor Information

Kristina Brooks-Olk, MBA, Associate Professor

CMC Phone: 970-625-6992                                                                                       Other Phone: NA 

CMC Fax: 970-625-0649 

CMC e-mail: kolk@coloradomtn.edu      

Office Number: West Garfield Room 143

Office Hours:

Office Hours

Monday

2:30-4:30

Open/Drop In

Tuesday

2:30-4:30

Open/Drop In

Wednesday

1:00-3:00

By Appointment Only

 

I will be holding office hours via my personal WebEx room.  Here is the link https://cmc.webex.com/meet/kolk

 

 

Required Course Materials

We will be using Canvas and an Open Educational Resource textbook for this course.  The text is available in a variety of electronic formats.  There are links to the text material contained in the Module for that Chapter in Canvas.  

Principles of Accounting I: Financial Accounting

Publish Date: 04/11/2019

Digital:

ISBN-10: 1-947172-67-0

ISBN-13: 978-1-947172-67-8

 

Link to the Text: https://openstax.org/details/books/principles-financial-accounting?Book%20details

 

Credit-based students participate in CMC’s Learning Materials Program (LMP). It is through this program that all physical or digital textbooks, digital required course materials and relevant custom materials listed above are provided to students an all-inclusive flat per credit fee. (There are a few exceptions to included materials such as Lab Kits and a selected number of excluded courses.) Detailed information about the Learning Materials Program, including how to ensure you receive your textbooks and how to return texts at the end of a course, can be found at https://coloradomtn.edu/classes/textbooks/ 

MP REMINDERS: To ensure proper shipment, you must verify your shipping address on the LMP dashboard in Basecamp.  By the last date of the course or within 7 days of dropping a course, all materials from LMP must be returned if you are not choosing to buy them out. Students will incur fees for late or missing returns. Questions or concerns about LMP? Use one of the customer service contact methods listed here. Students with LMP order questions should call CMC LMP Customer Service: 844-523-9056

  1. Course Description (4 CR)

This course introduces accounting principles for understanding the theory and logic that underlie procedures and practices for business organizations. Major topics include the accounting cycle for service and merchandising companies, internal control principles and practices, notes and interest, inventory systems and costing, and plant and intangible asset accounting.

III. Student Learning Outcomes, Competencies, and Skills

 

  1. Describe the concepts and principles used in the accounting profession for business organizations.
  2. Apply the concepts and principles used in the accounting profession for business organizations.
  3. Analyze transactions in relationship to the accounting equation.
  4. Prepare transactions in an accounting system for service and merchandising businesses.
  5. Prepare the end-of-period work including adjusting entries, financial statements, and closing entries.
  6. Describe the principles used in effective internal control systems.
  7. Illustrate the practices of effective internal control systems.
  8. Analyze cash transactions and prepare bank reconciliations.
  9. Analyze receivable transactions including uncollectible accounts.
  10. Calculate the amount of receivable and uncollectible transactions.
  11. Prepare receivable transactions including uncollectible accounts.
  12. Compute the value of inventory using various cost flow assumptions.
  13. Apply the effects of inventory cost flow assumptions on financial statements.
  14. Analyze transactions relating to plant assets, natural resources, and intangible assets including acquisition, cost allocations, and disposal.
  15. Calculate amounts relating to plant assets, natural resources, and intangible assets including acquisition, cost allocations, and disposal.
  16. Prepare transactions relating to plant assets, natural resources, and intangible assets including acquisition, cost allocations, and disposal.
  17. Analyze transactions relating to current liabilities.
  18. Calculate amounts relating to current liabilities transactions.
  19. Prepare transactions relating to current liabilities.

 

  1. Student Feedback to Instructors

Near the end of the semester, you will be asked to complete a survey about your experiences in this course. The survey will be available through Canvas.

  1. Evaluation Methods

 

 

 

Chapter Outlines

Reading the material and taking notes is important in this class, as you will be learning a new language, the language of business.  Throughout the semester, you will be assigned 4 chapters to create a Chapter Outline for.   This is where you will practice taking notes and sharing them with your fellow students via the designated and assigned Discussion Board for the Chapter Outline.  There are several different ways to do Chapter outlines.  Choose the one that works best for you. This is an opportunity for you to explore the different ways to take notes.  Here are some links to YouTube videos that may help you in this process. Remember that all definitions and key concepts should be included as well as any examples that you might find beneficial.

https://www.youtube.com/watch?v=UTC3xgaz9kI

https://www.youtube.com/watch?v=jVrslRCDZSQ

https://www.youtube.com/watch?v=6udi8gMB7OM

 

 

 

Chapter Homework

Successfully doing and understanding homework problems is critical to your success in this class and in grasping the language of business.  Problems assigned are listed in the assignment on Canvas (in the Module for that chapter).  You should be working on homework assignments prior to class meetings, and be prepared to discuss your questions.  As discussed in “Lateness Policy”, homework must be submitted within 7 days of the original due date, to earn points. You will be graded and evaluated on written homework based on completeness, timeliness and accuracy of the assignment. To earn full credit you must accurately complete each problem and submit the assignment on or before the due date. Your assignments will not be corrected by the instructor, but you will be provided with the solutions to reference. Do not wait until the last minute to start your homework, it is best to begin it prior to the class meeting.  If you have questions, bring them to the class meeting so that they can be addressed in class.

The solutions to the problems will be provided to you upon review of your assignment via Canvas to assist you in practicing and learning how to solve them and to check your work prior to taking the Final Exam.  NOTE: Publisher restrictions on the use of these solutions require us to advise NO STUDENT MAY COPY OR DISTRIBUTE any portion of the solutions to any other person.

For each Chapter, there is a Discussion Board available for you to interact with your peers. Post your questions about homework in the Discussion Board on Canvas.  When posting your questions or other comments, please state the chapter number and exercise or problem number in your subject line; this will assist students in locating postings of interest.  Please check the Discussion Board regularly and assist other students with their questions.  This is your class wide and online study group.

 

Graded Discussion Boards

 

Weekly you will have a choice of Graded Discussion Board prompts.  Your initial posting should be well written according to directions, cited appropriately and no less than 250 words. Please see the Rubric for Written assignments as an overall general guide. Original posts will be evaluated based on content and structure.  Please reply to a minimum of one other student’s original post with a reply that is of substance.  This is defined as critically thinking, expanding on the original post or instigating deeper thought on that post. Your reply post should be no less than 100 words. Original posts are worth 75% of the assignment grade and the reply is worth 25% of the assignment grade.

Final Exam

There will be one comprehensive untimed Final Exam.  This exam will be released the final week of class. There will be no extension time available for this exam and it must be submitted on time.

 

Grading

 

The composition of assignments and the points assigned to them are listed in the chart below.  These assignments are subject to change at the discretion of the instructor.  Any changes will be posted on the Syllabus page and in Announcements.

 

 

ACTIVITY

Quantity

Points Each

Total Points

% of Grade

Chapter Outlines

4

100

400

8.7%

Discussion Boards

14

100

1400

30.4%

Homework

14

100

1400

30.4%

Exam

1

1400

1400

30.4%

Total

4600

100%

 

 

Final Grades will be submitted following this chart.

 

Letter

Interpretation

Quality

Low

High

Grade

Points

%

%

A

Excellent

4

94.00%

100.00%

A-

3.7

90.00%

93.90%

B+

3.3

87.00%

89.90%

B

Above Average

3

84.00%

86.90%

B-

2.7

80.00%

83.90%

C+

2.3

77.00%

79.90%

C

Average

2

74.00%

76.90%

C-

1.7

70.00%

73.90%

D+

1.3

67.00%

69.90%

D

Poor

1

64.00%

66.90%

D-

0.7

60.00%

63.90%

F

Fail

0

Below

 

Extra Credit

There are no extra credit assignments offered in this class.

Lateness Policy (Assignments)

All chapter homework, discussion boards, quizzes, exams, projects and research assignments are due on or before the stated due date. NO assignment will be accepted which is more than ONE week late and no term project work is/final exams accepted at all after the due date.  At any time during the semester if your score is 0 on half or more of all assignments, you will be dropped from the course. Late written homework, exams, quizzes or projects submitted within one week late will receive a 50% points reduction.  Assignments submitted after one week late will score 0 points. There is no extension granted for Final Projects or Exams. 

Resource Use

For all assignments, including quizzes and exams, you are allowed to use your resources.  This includes the book and collaboration with other students.  While you are allowed to collaborate with your peers, you are expected to complete all work your self and submit original answers.  Instructor reserves the right to remove this option and require proctored exams at the Instructor’s discretion.

Attendance Policy

  • All Students are expected to attend all classes. Our in class time together is limited. It is imperative that you appropriately enter the classroom and are ready to participate at the start time of class.  Utilizing the WebEx system, you may need to begin logging in a few minutes early in order to not be counted as late.  You may have a maximum of three excused absences.  For every absence in excess of three, your FINAL GRADE will be reduced by one step on the Grading Scale. The instructor will take attendance at the start of class; it is the responsibility of late-arriving students to confirm that their attendance has been noted by the instructor.  PLAN AHEAD.  Arriving late, being dismissed, or leaving class at the break also results in points deducted, no exceptions or explanations. If I do not hear from you for an extended period of time (that is, you are extensively “absent” from class), you may be administratively withdrawn from the class on or before the withdrawal date.

For an absence to be excused the student must have contacted the instructor prior to the beginning of class and communicated that they will be absent.

 

 

  1. Class Management

 

  • Please feel free to leave the instructor a message at the number listed above. Additional routes of communication include email at kolk@coloradomtn.edu or via Canvas mail. In the event of an emergency you may call/text the instructor via cell phone at 303.241.9347.  Please leave a detailed message if you receive voice mail.  Instructor will return emails/calls within 24 hours Monday -Friday and will return communications received over the weekend by the end of day the following Monday. 
  • If a class session is cancelled, this will be posted on in the Announcements on Canvas and emailed to students via Canvas Mail.
  • Come to class having read the Chapter materials for the week. Be prepared to ask questions on the homework and materials. Each class will have some brief lecture covering parts of the material deemed most critical or most difficult.  Expect in class discussions to be a part of each class meeting and participation is noted in these discussions.  Time allowing we work problems from the homework or of a similar nature in the class meeting.
  • Class will start on time.
  • Canvas will be used extensively in this class. It is a means of communication between instructor and students and between students.  All assignments will be submitted via Canvas.  It is paramount that you check Canvas regularly to look for additional resources, recorded lectures that may have been added throughout the semester. 
  • In the event that the student has an emergency and needs additional or special considerations for attendance or assignment submittal, it is the student’s responsibility to communicate with the instructor via email. Extensions or penalty waivers of absences are at the discretion of the instructor and are not guaranteed.
  • Please reference the Information & Additional Resources Module in Canvas for additional information on class policies and procedures. Changes to the Syllabus will be posted in this module and in announcements in addition to being noted on the Syllabus page.

 

VII. Student Consumer Information

  1. You have a right to know certain information that the College is required by law to provide. Links on this page will connect you with helpful information including disability services, complaint processes, policies and procedures, textbook information, registration, attendance and grading, graduation rates and much more.
  2. Students Rights and Responsibilities: The CMC Student Handbook, published annually and available online at https://coloradomtn.edu/student-services/, outlines the expectations for student conduct on campus and in classes as well as the college’s academic policies and expectations. Issues of academic dishonesty will be handled with upmost regard.  The instructor may assess a 0 on a single assignment or may fail the student in the class dependent upon the severity of the incident and the instructor’s discretion.
  3. Notice of Nondiscrimination: Colorado Mountain College does not discriminate on the basis of age, color, disability, gender identity, marital status, national or ethnic origin, political affiliation, race, religion, sex (including pregnancy), sexual orientation, veteran status, and family and genetic information, or in its programs and activities, as required by Harassment and Discrimination Prevention (Title IX) of the Education Amendments of 1972,  Title II of the Americans with Disabilities Act of 1990, as amended, Section 504 of the Rehabilitation Act of 1973, Titles VI and VII of the Civil Rights Act of 1964, the Age Discrimination Act of 1975, and as provided in other applicable statutes and College policies. The College prohibits sexual and gender-based harassment, including sexual assault, and other forms of interpersonal violence. To obtain more information regarding non-discrimination policies, visit http://coloradomtn.edu/about-cmc/notice-of-nondiscrimination/ or contact Lisa Doak, Harassment and Discrimination Prevention (Title IX) Coordinator, ldoak@coloradomtn.edu, 970-947-8351, or Angela Wurtsmith, Director of Human Resources, awurtsmith@coloradomtn.edu, 970-947-8311.

VIII. CMC Libraries

 

Online library resources and services are available at http://library.coloradomtn.edu or from the Libraries link in Basecamp and Canvas.

 

You have 24/7 access to thousands of online journals, magazines, and newspapers, e-books and audiobooks, videos and images, career resources and practice tests.

 

Librarians are here to help you. You can use any or all of these ways to get help!

 

Consult your local campus for in-person services.

 

  1. Tentative Course Schedule

NOTE: This schedule is subject to change at any time, depending on instructor evaluation of student skills/understanding/knowledge. See Canvas for more information.

 

Week

Week Beginning

Week End

Chapter

Topic

1

8/24/2020

8/30/2020

1

The Role of Accounting in Society

2

8/31/2020

9/6/2020

2

Introduction to Financial Statements

3

9/7/2020

9/13/2020

3

Analyzing and Recording Transactions

4

9/14/2020

9/20/2020

4

The adjustment Process

5

9/21/2020

9/27/2020

6

9/28/2020

10/4/2020

5

Completing the Accounting Cycle

7

10/5/2020

10/11/2020

8

10/12/2020

10/18/2020

6

Merchandising Transactions

9

10/19/2020

10/25/2020

7

Accounting Information Systems

10

10/26/2020

11/1/2020

8

Fraud, Internal Controls and Cash

11

11/2/2020

11/8/2020

9

Accounting for Receivables

12

11/9/2020

11/15/2020

10

Inventory

13

11/16/2020

11/22/2020

11

Long Term Assets

14

11/23/2020

11/29/2020

11/25-11/29 Thanksgiving Break

15

11/30/2020

12/6/2020

12

Current Liabilities

16

12/7/2020

12/11/2020

FINAL WEEK

 

Textbook:

Great news: your textbook for this class is available for free online!

Principles of Accounting Volume 1 Financial Accounting from OpenStax, ISBN-10: 1-947172-67-0

You have several options to obtain this book:

You can use whichever formats you want. Web view is recommended -- the responsive design works seamlessly on any device.

Course Summary:

Date Details Due