FINANCIAL
ACCOUNTING
ACC 201 - C781
Class # 46097
(three credit hours)
FALL 2009
COURSE DESCRIPTION: Presents generally accepted
accounting principles used for the measurement and reporting of financial
information in the financial statements.
ACC
201 meets the Business Administration core requirement.
PREREQUISITE:
Sophomore standing
or consent of the instructor.
TEXTBOOK AND OTHER RESOURCES: Accounting. Carl Warren, James Reeve and Jonathan Duchac. 23rd
Edition. ISBN-10:
0324662963, ISBN-13: 9780324662962. South-Western / Cengage Learning. 2009.
Study
Guide (Chapters 1-17) to accompany the textbook.
For on-line
quizzes, high-speed Internet access to KCTCS e-learning is required. The Web site address for the course (on-line
quizzes and other materials) is http://elearning.kctcs.edu. Wireless connection is not
recommended. If you don’t have a computer available, you can use a computer at
your campus library.
The Mozilla
Firefox browser must be used for on-line quizzes on Blackboard (course
management system). If you don’t have the 3.0 version of Firefox, you can
download the free browser (U.S. English) at http://www.mozilla.com/en-US/firefox/all-older.html. It should be pointed out the new 3.5
version of Firefox is also available, but that version has NOT been certified
for Blackboard as of August 8, 2009.
DAYS, TIME AND MEETING PLACE:
Tuesdays and Thursdays
9:25 – 10:40 a.m. Room S215
SKCTC Middlesboro Campus
PROFESSOR:
Mr. Jamie H. Vaught
Office Location:
E-Mail Address: jamie.vaught@kctcs.edu
Phone: Contact Office Faculty Assistant Josh Brooks
at 606-248-0620 and he will relay the message to the professor. (Communicating by e-mail would be much better
and more reliable as the professor is hard of hearing – lip-reading with voice).
Academic / Professional Background:
--B.S.
Accounting, University of Kentucky
--MBA,
University of Kentucky
--Additional
graduate work at UK, Eastern Kentucky University and Lincoln Memorial
University.
--Taught
at Southeast Kentucky Community & Technical College (since 1991); Sue
Bennett College, London (two years); and St. Catharine College, Springfield
(three years).
--Four
years as internal auditor at First & Farmers Bank, Somerset.
--Long-time
newspaper columnist and author of four successful books on UK basketball.
OFFICE HOURS:
Monday
9:00 – 11:30 a.m.
Tuesday 8:30 – 9:15 a.m. and 10:45 -- 12:00 noon
Wednesday
9:00 -- 11:30 a.m. and 1:30 –
2:30 p.m.
Thursday 8:30 – 9:15 a.m. and 10:45 -- 12:00 noon
Also by appointment
SKCTC SOCIAL SCIENCES
Mr. Kevin
Lambert (Whitesburg campus)
606-589-3305
SKCTC MIDDLESBORO & PINEVILLE
CAMPUS DIRECTOR:
Ms. Susan
Croushorn
606-248-2014
COURSE OBJECTIVES: After
completion of this course,
1) the student should be able to understand accounting
terminology related to an accounting system
for a business organized as a proprietorship
or partnership.
2) the student should be able to understand accounting
principles and practices related to an accounting
system for a business organized as a proprietorship
or partnership.
3) the student should be able to plan,
summarize, analyze
and interpret accounting data.
4) the student should be able to understand and
use accounting
information as the basis for making decisions.
5) the student should be able to communicate business
(accounting) results.
COURSE FORMAT: This
course will consist of a combination of lecture, illustration and discussion sessions (along with the
quizzes taken on-line).
TOPICS: Chapter
1: Introduction to Accounting and
Business
Chapter
2: Analyzing Transactions
Chapter
3: The Adjusting Process
Chapter
4: Completing the Accounting Cycle
Chapter
5: Accounting Systems
Chapter
6: Accounting for Merchandising Businesses
Chapter
7: Inventories
Chapter
8: Sarbanes-Oxley, Internal Control, and Cash
Chapter 9: Receivables
Chapter 10: Fixed Assets and Intangible Assets
Chapter
11: Current Liabilities and Payroll
Chapter 12: Accounting for Partnerships
and Limited Liability Companies.
EVALUATION OF
COMPETENCIES: In addition to basic course content, the student will
acquire certain General Education competencies and will demonstrate their
acquisition of these skills and knowledge by successful achievement on class
assessment measures. These General Education competencies will include the
following:
COMMUNICATE EFFECTIVELY – 1) The student will prepare to
read and listen with comprehension by reading the textbook (and periodicals),
by taking notes in class and by taking examinations and quizzes. 2) The student will speak and write clearly
using standard English by asking in-class questions and by doing an article
summary (a two-page document).
THINK CRITICALLY – 1) The student will make connections in
learning across the disciplines and draw logical conclusions by using
information and concepts from the course and related disciplines such as
management for learning.
LEARN INDEPENDENTLY – 1) The student will make choices based
upon awareness of ethics and differing perspectives/ideas by participating in
class discussions (case problems, etc.). 2) The student apply learning in academic,
personal and public situations by understanding the issues facing the accounting
profession or the business world today.
EXAMINE RELATIONSHIPS IN DIVERSE AND COMPLEX ENVIRONMENTS –
1) The student will develop an awareness of self as an individual member of a
multicultural and global community by understanding different cultures and
business practices in various countries.
GRADING: Four
(out of five) exams (100 points each) 400 points
Homework 160 points
Six on-line chapter
quizzes (20 points each) 120
points
Article Summary 120 points
TOTAL: 800
points
800 - 720 A
719
- 640 B
639 - 560 C
559 - 480 D
Below 480 E
You are allowed to drop your lowest grade among the five
exams. If you missed one exam for any reason, it will be dropped
as the lowest grade. Generally, no
make-up exams will be given. However, under extreme circumstances, a make-up
exam for the second exam missed
could be given and it is worth a maximum of 90 points (you already lose at
least 10 points).
The homework problems should be completed and reasonably
correct for full credit. The problems
are good preparation for exams. If you
did not do your own homework honestly, you will have difficulty in passing the
exams.
A batch of homework problems is due when you take the
exam. Each batch of homework problems is
worth 32 points (five batches x 32 points = 160 points). If the homework is turned in late, you will
only receive one-half credit (16 points, instead of 32 points) No
exceptions will be made! But if you happened to miss an exam, the
homework problems are due when you return to the next class session and you
will receive full credit.
The Article Summary is a two-page
summary about an article on accounting or its related topic in a business-oriented
magazine or periodical. The
summary is due on Tuesday, Nov. 10 or earlier. Additional information about the article
summary will be announced at a later date.
The Article Summary may be graded on a “satisfactory” scale. A satisfactory grade (S) will give you a
numerical score of 114 points – or an equivalent of 95 percent -- (out of 120
possible points), while satisfactory with a minus (S-) grade will give a score
of 102. You must repeat an
unsatisfactory summary to receive credit (maximum of “S-” grade or 102 points).
If the summary is turned in late OR not typed for any reason, it will result in a reduction
of one letter grade. If the summary
is turned in late AND not
typed, it will result in a reduction of two
letter grades.
Please do not
request extra credit assignments to compensate for an earlier unwillingness
to work. This would be considered unfair
to other members of
the class.
Cheating of any
sort, including plagiarism, will NOT
be tolerated.
COURSE OUTLINE:
Tentative
ACC 201-C781 Course Outline
Chapter 1 and 2
Chapter 3 and 4
Chapter 5, 6
and 7
Chapter 8 and 9
Chapter 10, 11 & 12
Exam # 5 (Final)
Note: Chapters may be added or deleted depending on
class performance.
ATTENDANCE
POLICY: VERY IMPORTANT! Students are expected to attend all
classes. Good attendance and excellent
attitude will influence the professor when faced with a borderline
grading situation.
It is the responsibility of the student to keep informed on
classwork or homework assignments. Not
knowing about an assignment or exam does not excuse one from submitting or
taking it on time.
Chronic tardiness or early departure from a class is unacceptable and will be handled
by the professor on an individual basis. If you must leave during the class,
please try to notify the professor before the class begins.
MANDATORY PLACEMENT POLICY: If the
degree-seeking student, who is enrolled in a KCTCS college for the first time
in Fall 2009, has been identified by the college as having deficiencies in reading,
writing or math, he or she must remedy the identified skill deficiencies prior
to enrolling in entry-level courses for which those skills are essential.
Therefore, students enrolled in this ACC 201-C781 course are expected to have
minimum COMPASS scores in reading and mathematics.
WITHDRAWAL POLICY: Aug.
21 -- Last day to drop a course without a grade.
Oct. 9 -- Last day for students, at their
discretion, to officially withdraw from a class and receive a grade of W.
Dec. 4 -- Last day for students, at the
discretion of the instructor, to officially withdraw from a class and receive a
grade of W. (It is the last day before the Final Exams Week! If you need to drop a course, you should see
your professor before that date.)
If the need arises for you to drop any course, make sure you
complete the "drop and add" procedure required by the college.
Failure to do so will result in the recording of an "E" as your final
grade. The professor has no control over this process.
SMOKING
& OTHER POLICIES: In accordance with state regulations and
policies, smoking in SKCTC buildings is not allowed. No drinks, food or other
tobacco products are to be consumed in the classroom.
CONSUMER
(STUDENT) INFORMATION:
The
following information is available on the Web site of Southeast Kentucky
Community and Technical College (www.southeast.kctcs.edu). Go to Student Services and click on Consumer
Information.
AIDS
Guidelines
Code of
Student Conduct
Crime
Awareness
Drug Free
Policy
Financial
Aid Information
Graduation
Rate and Transfer Out Rate
Hepatitis
B
KCTCS
Community College Catalog
Sexual
Harassment Policy
Student
Grievance Procedures
Student
Handbook
Student
Rights Under FERPA
STUDENTS
WITH DISABILITIES:
Each
college has a coordinator to assist students with their disabilities. Students
with disabilities who desire academic accommodations must provide the
coordinator with current documentation of their disability including evidence
of the need for academic accommodations. Contact the local college’s Student
Services Office for more details including the name and location of the
Disability Coordinator.