Principles of Accounting I Instructor: Mr. Kevin Cummer

AC 121.02 Fall Term 2009 Office Phone: 483-3051 (use only as necessary please)

M, W & F at 7:45 a.m. E-mail: kevin.cummer@wartburg.edu

Textbook and related materials:

Required: Wild & Chiappetta, Financial & Managerial Accounting – Information for Decisions, 3rd ed, McGraw-Hill/Irwin, 2009

Optional: Wild & Chiappetta, Study Guide for use with Financial & Managerial Accounting – Information for Decisions, 3rd ed, McGraw-Hill/Irwin, 2009

Course Objectives:

1. Learn basic skills in analyzing, recording, and summarizing basic business transactions.

2. Develop an understanding of the major categories of assets and liabilities.

3. Develop an understanding of revenue recognition and expenses incurred in earning revenues.

4. Gain an understanding of owners’ equity and the major categories of equity.

Daily Assignments:

Success in the study of accounting requires that your attention be devoted to the subject on a daily basis. Assignments for the course consist of reading the chapters and working the exercises and problems assigned. All assignments should be completed, to the best of your ability, before coming to class. All assigned problem material will be reviewed in class. There is NOT sufficient time for you to copy correct solutions in class. Daily assignments will not be collected and will not be graded.

An assignment sheet with a list of daily assignments is attached. Minor modifications, additions or deletions, may be made from time to time.

Some students will “copy” solutions to problems from another student. Other students will not work problems prior to class and expect to learn by “copying” solutions presented in class. Neither of these is an effective method for studying accounting. The result of either practice is, almost invariably, poor performance on quizzes and examinations.

Attendance:

All students are expected to attend class on a regular basis. Absences for legitimate reasons such as approved college activities and illness are permitted, but it is suggested that the student realize the importance of attending all class sessions.

Grading:

Your grade for the course will be based on your performance on quizzes, examinations,

and collected assignments.

Date

Exam I October 5 100 pts

Exam II November 6 100 pts

Exam III December 2 100 pts

Final Exam December 16 120 pts

Quizzes unannounced 60 pts

Assignments see page 3 40 pts

Total Points 520 pts

The following grading scale will be used:

A 93-100% C 73-76%

A- 90-92 C- 70-72

B+ 87-89 D+ 67-69

` B 83-86 D 63-66

B- 80-82 D- 60-62

C+ 77-79 F 0-59

Exams:

NO makeup examinations will be permitted unless the instructor is notified prior to the time of the examination and the instructor is satisfied that the excuse is legitimate and acceptable.

Some details on examination procedures: (1) do not use a pen – bring pencils; (2) calculators will be provided; (3) show your work – partial credit will be given for anything that shows some understanding of the material; (4) if necessary, plan a trip to the restroom before the exam – leaving during the exam can create a negative impression among others in the room; (5) your table space is to be cleared of all books and papers; (6) no caps are to be worn during an examination – I want to see your eyes.

The final examination will be comprehensive over all material covered during the term.

The final exam is scheduled for 8:00 a.m. on Wednesday, December 16.

Quizzes:

We will have a minimum of eight unannounced quizzes during the term. Quizzes can be expected on the second day devoted to a chapter or on any of the following days devoted to that chapter or the next succeeding chapter. The lowest quiz scores will be dropped. The highest six scores will be totaled for a maximum of 60 points on quizzes.

No makeup quizzes will be given under any circumstances.

Any person absent on the day of a quiz will receive a zero for that quiz. Regardless of the reason for the absence, you will be given a zero for that quiz. Neither illness nor approved college activities will be a sufficient reason to make up a quiz. Remember that a minimum of two quiz scores, the lowest scores, will be thrown out. If more than eight quizzes are given, more quizzes will be thrown out. The highest six scores will be totaled for a maximum of 60 points on quizzes.

Quizzes will be given at the beginning of the period. If you are late for class, arriving after time has been called on the quiz you will not be permitted to take the quiz. If you are late for class, arriving before time has been called on the quiz you will be given the remaining time to take the quiz with the class. You must stop writing when time is called for the class. Any student not following this policy will receive a zero for the quiz.

Graded Assignments:

There are five assignments that will be collected and graded. The points earned on graded assignments will be totaled for a maximum of 40 points. NO late assignments will be accepted under any circumstances. The assignments will be collected at the beginning of the period. Any assignment not turned in at the beginning of the period will be considered late.

Listing of assignments to be collected and graded:

Due Date Assignment

Sept 30 Comparative Analysis (BTN 3-2) on page 148

Oct 14 Reporting in Action (BTN 5-1) on page 238 (required Items 1-5)

Nov 2 Communicating in Practice (BTN 7-4) on page 317

Nov 23 Ethics Challenge (BTN 9-3) on page 403

Dec 9 Ethics Challenge (BTN 11-3) on page 489

Supplemental Instruction:

Supplemental instruction is available for this class. Details will be announced in class.

Academic Integrity:

Wartburg Honor Code

As a matter of personal commitment, students, faculty, and staff of Wartburg College are expected to demonstrate four simple principles:

1) All work submitted must be your own.

2) When using the work or ideas of others, including fellow students, give full credit through

accurate citations.

3) Maintain academic honesty both on examinations and class assignments.

4) If you are uncertain about the ground rules on a particular assignment, ask for clarification.

All are responsible for abiding by these guidelines and opposing academic dishonesty by reporting any act that goes against these guidelines.

Source: The Honor Code, as approved by the faculty and Student Senate.

Cheating:

Cheating will not be tolerated. Students found cheating on any quiz or examination will receive a grade of “F” for that quiz or examination.

Special Needs:

The Americans with Disabilities Act of 1990 (ADA) provides protection from illegal discrimination for qualified individuals with disabilities.  Students requesting instructional accommodations due to disabilities must arrange for such accommodations by contacting Carla Coates, Pathways Associate for Testing & Disability.  She can be reached at the Pathways Center, Wartburg College, LIB 314, 352-8230, <carla.coates@wartburg.edu>.  Accommodations should be requested PRIOR to affected assignment due dates. 

Office Hours:

As I am an adjunct professor, I will not have standing office hours. Arrangements can be made for meetings on an as needed basis, generally immediately before or after class.

Please, NO FOOD OR DRINK IN THE CLASSROOM. Thank you.

AC 121.02 Principles of Accounting I Fall 2009 Assignment Sheet
Sept.	9	Introduction
	11	Study Chap. 1. Exs. 1-5, 1-7 & 1-13
	14	Prob. 1-7A.
	16	Study Chap. 2. Exs. 2-1, 2-8 & 2-10.
	18	Prob. 2-1A. Ex. 2-9.
	21	Exs. 2-11 & 2-12. Prob. 2-3A.
	23	Prob. 2-6A. Study Chap. 3.
	25	Exs. 3-1, 3-2 & 3-3.
	28	Exs. 3-4 & 3-5. Prob. 3-1A.
	30	Ex. 3-14. Prob. 3-2A. Assignment 1 Due (BTN 3-2)
Oct.	2	Ex. 3-6. Probs. 3-5A & 3-6A.
	5	Exam I Chapters 1, 2 & 3.
	7	Study Chap. 4. Exs. 4-1 & 4-3.
	9	Prob. 4-1A. Exs. 4-6 & 4-16.
	12	Exs. 4-2 & 4-10. Prob. 4-4A. Study Chap. 5, include appendix A, omit appendix B.
	14	Exs. 5-2, 5-3 & 5-7. Assignment 2 Due (BTN 5-1, Items 1-5)
	16	Exs. 5-1, 5-4 & 5-9.
	19	Probs. 5-2A & 5-4A. Study Chap. 6.
	21	Probs. 6-1A & 6-4A.
	23	Probs. 6-3A & 6-5A. Ex. 6-11. Study Chap. 7.
	26	Exs. 7-3, 7-4 & 7-6. Prob. 7-2A.
	28	Probs. 7-4A & 7-5A.
	30	Fall term break. No class.
Nov.	2	Prob. 7-1A. Exs. 7-5 & 7-7. Assignment 3 Due (BTN 7-4)
	4	Adjustment for Outfly.
	6	Exam II Chapters 4, 5, 6 & 7.
	9	Study Chap. 8.
	11	Probs. 8-3A & 8-5A. Exs. 8-9, 8-10 & 8-15.
	13	Probs. 8-1A, 8-6A & 8-7A. Study Chap. 9. Ex. 9-1.
	16	Exs. 9-2, 9-4, 9-5, 9-6 & 9-7.
	18	Exs. 9-3 & 9-8. Prob. 9-1A.
	20	Study Chap. 10, include appendices A & B, omit appendices C & D.
	23	Probs. 10-3A & 10-4A. Ex. 10-6. Assignment 4 Due (BTN 9-3)
	25	Probs. 10-5A & 10-6A. Ex. 10-7.
	27	Thanksgiving Break. No class.
Nov.	30	Probs. 10-5B & 10-6B.
Dec.	2	Exam III Chapters 8, 9 & 10.
	4	Study Chap. 11
	7	Exs. 11-2, 11-3, 11-6, 11-10 & 11-11
	9	Exs. 11-4, 11-5, 11-7, 11-8, 11-9, 11-12 & 11-14. Assignment 5 Due
	11	Exs. 11-13, 11-15 & 11-16. Prob. 11-2A.
Dec.	16	8:00 a.m. Comprehensive Final Examination, chapters 1 through 11.