Syllabus for ACC-201-OL

COURSE DESCRIPTION

Intermediate Accounting I is the first of a two course sequence (ACC-202: Intermediate Accounting II is the other), in financial accounting. Topics covered include accounting theory, a review of the accounting cycle, financial statements, time value of money, current assets and operational assets. This course is essential for students who wish to pursue a major in accounting.

[Return to Top]

COURSE OBJECTIVES

By successfully completing the learning activities of the course, you should be able to:

• Prepare reports in compliance with generally accepted accounting principles (GAAP).



• Discuss the international movement towards one global set of financial statements under the International Financial Reporting Standards (IFRS) initiative.



• Prepare and explain a balance sheet, its components and the classifications of assets, liabilities and stockholder equity, and discuss and evaluate disclosure requirements for various balance sheet accounts.



• Prepare and explain a balance sheet, its components and the classifications of assets, liabilities and stockholder equity, and discuss and evaluate disclosure requirements for various balance sheet accounts.



• Prepare and explain an income statement, its components and the classifications of revenue, expenses, gains, losses, extraordinary items, and other related items.



• Evaluate a statement of cash flows using both the direct and indirect methods.



• Explain the time value of money concept, and analyze and compute reported amounts used in the preparation of financial statements.



• Prepare transactions for cash and receivables, explain and evaluate the internal controls systems used to protect cash and receivables, and prepare appropriate adjustments and/or account reconciliations when needed.



• Explain and prepare transactions about a company’s inventory transactions using and evaluating a variety of inventory valuation methodologies and making adjustments to inventory accounts when needed.



• Prepare and explain transactions about a company’s operational assets including computing depreciation, depletion, and amortization using a variety of methods and recording transactions of operational asset acquisition, disposal, and impairment in the accounting records of a company.




[Return to Top]







REQUIRED TEXTBOOK

Intermediate Accounting, 5th ed., by J. David Spiceland, James F. Sepe, Mark Nelson, and Lawrence A. Tomassini (New York: McGraw-Hill/Irwin, 2009).
ISBN-13: 978-0-07-352687-4

The textbook is available from the textbook supplier, MBS Direct.

[Return to Top]







COURSE STRUCTURE

Intermediate Accounting I is a three-credit, online course, consisting of six (6) assignment modules. You are required to participate in six (6) graded class discussions, complete six (6) written assignments, and take a proctored mid-term examination during Week 7 and an online final examination during the final week of the semester.

Each assignment module includes learning objectives, a study assignment, a discussion activity, and written assignments.

For the course's six assignment modules, go to the Assignment Modules area of the course Web site. See also the course Calendar.

[Return to Top]







ONLINE PARTICIPATION

Intermediate Accounting I requires you to participate in six graded online discussion activities, in addition to an ungraded "Introductions" forum in module 1.

Communication with the mentor and among fellow students is a critical component of online learning. Participation in online discussions involves two distinct activities: an initial response to an end-of-chapter exercise and subsequent comments on classmates' responses. Meaningful participation is relevant to the content, adds value, and advances the discussion. Comments such as "I agree" and "ditto" are not considered value-adding participation. Therefore, when you agree or disagree with a classmate, the reading, or your mentor, state and support your agreement or disagreement. You will be evaluated on the quality and quantity of your participation. Responses and comments should be properly proofread and edited, professional, and respectful.

[Return to Top]







WRITTEN ASSIGNMENTS

The six (6) written assignments consist mostly of exercises and problems taken from the end of each chapter in the textbook. You are to submit your answers to these exercises and problems to your mentor for correction and grading. When preparing the assign­ments, please identify each exercise and problem clearly by textbook chapter and exercise or problem number, with the exercises first followed by the problems. To receive full credit for your answers, you must show all work and include complete solutions.

It is recommended to use Microsoft Word or Excel to prepare your written assignments. Include your name at the top of the paper, as well as the course name and code and the semester and year in which you are enrolled.

Before submitting your first assignment, check with your mentor to determine whether your word processing software is compatible with your mentor's software. If so, you can submit your work as you prepared it. If not, save your assignment as a rich-text (.rtf) file, using the Save As command of your software program. Rich text retains basic formatting and can be read by any other word processing program.

When satisfied that your assignment represents your best work, submit it to your mentor by means of the

>>View/Complete Assignment

link provided at the bottom of the respective assignment page. Use the Browse button within this link to locate and submit your assignment file.

[Return to Top]







EXAMINATIONS

Intermediate Accounting I requires you to take two examinations: a proctored midterm examination during Week 7 and an unproctored, online final examination during the last week of the semester.




Midterm Examination
You are required to take a proctored midterm examination during Week 7 of the semester. The examination is a closed-book, comprehensive examination that covers material from modules 1, 2, and 3. The exam is two hours long and consists of multiple-choice questions, and problems similar to those on the written assignments.

You may take the examination only during the designated exam week, at an approved location, and with an approved proctor. In this regard, you need to schedule your exam and submit your "Proctor Request Form" with the necessary documentation no later than the end of the first week of the semester (see Administrative Forms in the General Information area of the course Web site).

If you are on a course extension and have not yet taken the midterm exam, you must let your examination proctor know when you plan to take the exam and contact the Office of Test Administration (609-984-1181) two weeks in advance to request that your exam be sent to the proctor.

For more information on scheduling a proctored examination, see the section Examinations and Proctors in the Online Student Handbook.




Final Examination
The final is a closed-book, unproctored online exam. It is two hours long and covers all material assigned in modules 4, 5, and 6 of the course. The final consists of true-and-false questions, multiple-choice questions, and problems similar to those on the written assignments.

The final exam is taken online in Blackboard. An exam link will be activated and made available to you at the start of the last week of the semester. You may take the exam at any time during that week, but no later than midnight Saturday (eastern time). If you are on a course extension, you will need to arrange with your mentor a time to reschedule the final exam.

Statement about Cheating
The final examination in this course is an unproctored exam. That means you will not be supervised while taking the test. You are on your honor not to cheat during the exam. Cheating means:

• Looking up any answer or part of an answer in an unauthorized textbook or on the Internet, or using any other source to find the answer.
• Copying and pasting or in any way copying responses or parts of responses from any other source into your online test. This includes but is not limited to copying and pasting from other documents or spreadsheets, whether written by yourself or anyone else.
• Plagiarizing answers.
• Asking anyone else to assist you by whatever means available while you take the exam.
• Copying any part of the exam to share with other students.
• Telling your mentor that you need another attempt at the exam because your connection to the Internet was interrupted when that is not true.

If there is evidence that you have cheated or plagiarized in your exam, the exam will be declared invalid, and you will fail the course.

Please also note that the exam is time-limited. That means you only have the allotted time in which to complete the exam. If you exceed the time limit on the exam, you will be penalized by having two points deducted for every minute that you exceed the time limit. This may also result in your failing the course.

[Return to Top]







GRADING AND EVALUATION

Your grade in the course will be determined as follows:

Written Assignments (6)	33 percent
Discussion Activities (6)	17 percent
Midterm Examination	25 percent
Final Examination	25 percent




To receive credit for the course, you must earn a letter grade of D or higher on the weighted average of all assigned course work (e.g., exams, assignments, discussion postings, etc.). You will receive a score of 0 for any work not submitted.

Letter grades for online participation, written assignments, the midterm examination, and the final examination are based on the following numerical grades:




A	=	93–100	C+	=	78–79
A–	=	90–92	C	=	73–77
B+	=	88–89	C–	=	70–72
B	=	83–87	D	=	60–69
B–	=	80–82	F	=	Below 60

[Return to Top]







STRATEGIES FOR SUCCESS

First Steps to Success
To succeed in this course, take the following first steps:

1. Read carefully the entire Syllabus, making sure that all aspects of the course are clear to you and that you have all the materials required for the course.



2. Take the time to read the entire Online Student Handbook. The Handbook answers many questions about how to proceed through the course, how to schedule exams and arrange for proctors, and how to get the most from your educational experience at Thomas Edison State College.



3. Arrange to take your midterm examination by following the instructions in the Online Student Handbook. Then complete the "Proctor Request Form" and submit it to the Office of Test Administration (OTA). You must make arrangements to take your examination and send in your "Proctor Request Form" to OTA before the end of the first week of the current semester. (See Administrative Forms in the General Information area of the course Web site.)



4. Familiarize yourself with the Blackboard environment—how to navigate it and what the various course areas contain. If you know what to expect as you navigate the course, you can better pace yourself and complete the work on time.



5. If you are not familiar with Web-based learning, or specifically with the Blackboard platform, be sure to review the processes for posting responses online and submitting assignments before class begins.

Study Tips
Consider the following study tips for success:

1. To stay on track throughout the course, begin each week by consulting the course Calendar. The calendar provides an overview of the course and indicates due dates for submitting assignments, posting discussions, and scheduling and taking your examinations. For details on each assignment module and a complete listing of learning activities, go to the Assignment Modules area of the course Web site.



2. Check the Announcements page and class Discussion Board regularly for new course information.

[Return to Top]