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Syllabus

Lackawanna College

ACC 110OM – Principles of Accounting II

Online Classroom: 3 credits

Fall 2017: October 18 - December 8



Instructor:  Kathy McHenry Phone: 570-903-2433

E-mail:  kathy.mchenry@lackawanna.falcons.edu  Email is checked several times daily.

Office Hours: Online through Chat at a mutually convenient scheduled time.

 

Text: Financial Accounting, 14ed, Warren, Reeve, Duchac

 

Description:

ACC 110 is a continuation of Principles of Accounting I, with emphasis on accounting systems and controls, payroll systems; concepts and principles; partnership formation; income division and liquidation; corporation organization and operation; stockholder’s equity, earnings, and dividends, long term liabilities and investments (3 credits).

 

Objectives:

  1. Describe and illustrate current liabilities related to accounts payable, current portion of long-term debt, and notes payable; calculate employer liabilities for payroll; describe payroll accounting systems that use a payroll register, employee earnings records, and a general journal; journalize entries for employee fringe benefits; describe accounting for contingent liabilities and journalize entries for product warranties.
  2. Describe the characteristics of proprietorships, partnerships, and limited liability companies; describe and illustrate the accounting for forming a partnership and for dividing the net income and net loss of a partnership; describe and illustrate the accounting for partner admission and withdrawal; describe and illustrate the accounting for liquidating a partnership; prepare the statement of partnership equity.
  3. Describe the nature of the corporate form of organization; describe the two main sources of stockholders’ equity; describe and illustrate the characteristics of stock, classes of stock, and entries for issuing stock; describe and illustrate the accounting for cash dividends and stock dividends; describe and illustrate the accounting for treasury stock transactions; describe and illustrate the reporting of stockholders’ equity; describe the effect of stock splits on corporate financial statements.
  4. Compute the potential impact of long-term borrowing on earnings per share; describe the characteristics and terminology of bonds payable; journalize entries for bonds payable; describe and illustrate the accounting for installment notes; describe and illustrate the reporting of long-term liabilities, including bonds and notes payable.
  5. Describe why companies invest in debt and equity securities; describe and illustrate the accounting for debt investments; describe and illustrate the accounting for equity investments; describe and illustrate valuing and reporting investments in the financial statements; describe fair value accounting and its implication for the future; describe and illustrate the computation of dividend yield.
  6. Describe the cash flow activities reported in the statement of cash flows; prepare a statement of cash flows, using the indirect method and the direct method; describe and illustrate the use of free cash flow in evaluating a company’s cash flow.
  7. Describe basic financial statement analytical methods; use financial statement analysis to assess the solvency and profitability of a business; describe the contents of corporate annual reports.

 

Requirements:

  • Calculator
  • Textbook
  • Notebook
  • Optional Working Papers
  • PENCIL NOT PEN

 

Evaluations:

Project

Available Points

Due Date

Classroom Discussion

196

Sunday of  Each Week

Assignments (7)

700

Saturday of Each Week

Research Project

200

Last Day of Class

 

Online Course Attendance Policy

Students enrolled in credit-bearing courses at Lackawanna College will fail any course(s) in which they accumulate absences beyond the maximum number allowed. This pertains to online courses as well.

 

Attendance is defined by participating in an academic activity within the online classroom, which includes posting in a graded discussion forum or submitting a written assignment. Postings not related to the aforementioned activities will not count for attendance purposes.

 

# of Days Required for Discussion in an Online Course

Maximum # of Weeks Allowed without Discussion  

  Twice on any four days in a week (8 total)

 0

 

  • You are required to engage in discussion at least TWICE on FOUR days throughout the week for a total of EIGHT posts in all, minimum.
  • You should respond to the initial DQs posted AND respond to your classmates.
  • Responses MUST be substantive. See the document titled Good Discussions in your Handouts and Links.
  • Responses that do not move the conversation forward by providing information to which others can respond and build upon will NOT be counted toward your weekly score.
  • Students who miss one week of discussion will be DROPPED from the course.
  • Students who do not log on to the course within the drop/add period for the course will be DROPPED from the course. 

 

Classroom Discussion & Group Interaction

28 points each week for a total of 196 points

In order to understand, remember, and benefit from what we learn in class, discussion and interaction are crucial. This means that you are reading and contributing.

There is a resource in Handouts and Links called Good Discussions to help you understand the meaning of substantive. Responses such as, “Well said.” Or “I agree.” Or “Good thinking.” are NOT acceptable. You should also NOT simply repeat what someone else has already said. This rubric can help you to formulate an effective discussion response.

Create substantive responses in the following ways:

What Should I Do?

Points Available

Did I do This?

Where?

Points Earned

Answer both Discussion Questions directly demonstrating a clear understanding of the material, support your response with research or reading, and promote conversation (2 posts)

4

     

Respond to at least two classmates’ posts (2 posts)

3

     

Continue both conversations with at least one additional reply to each peer (2 posts)

3

     

Respond to at least one of the teacher’s secondary questions, conversing with a classmate who responds to the same question (2 posts)

3

     

Be sure all responses are detailed and clear and are posted twice on four separate days.

4

     

Be sure that all responses relate to the course reading and notes, your own everyday life, or to both

4

     

Provides the class with a response that is non-generic and inspiring – meaning that they learn from what you have contributed and can continue the conversation

4

     

Use proper grammar, spelling, and netiquette

3

     

TOTAL POINTS for EACH WEEKLY DISCUSSION:

28

   

 

Withdrawal Policy

A student has the privilege of withdrawing from any courses or from the College itself without academic penalty up to and including the final date for withdrawal indicated on the College calendar.

To withdraw officially from a course or from the College, a student must obtain the proper withdrawal form from the Student Affairs Office or from your Center Director, complete this form and submit it to the Registrar's Office before the final day for withdrawal without academic penalty as indicated on the College calendar. If a student stops attending a course for which he/she is registered after the published census date (end of drop/add) without having officially withdrawn from the course, the student will be assigned an AW (penalty-grade failure) for the class. No exceptions will be made.

Students who violate the College's Academic Integrity Policy and fail a course in consequence may not exercise the withdrawal privilege in that particular course.

 

Financial obligations to the College will be determined according to the Refund Policy.

 

Instructor Policies:

  • Accounting builds on itself. If you miss anything, you will fall behind.
  • All initial responses to the discussion questions MUST be posted by WEDNESDAY.
  • All replies to the discussion questions MUST be posted by SUNDAY.
  • All assignments are due SATURDAY.
  • Research Project is due Last Day of Class.

 

Grading:

  Letter Grade

Numeric Range

Quality Points

A

96 – 100

4.0

A-

90 – 95

3.67

B+

87 – 89

3.33

B

83 – 86

3.0

B-

80 – 82

2.67

C+

77 – 79

2.33

C

73 – 76

2.0

C-

70 – 72

1.67

D+

67 – 69

1.33

D

60 – 66

1.0

F

0 – 59

0

 

Due Dates and Late Penalties:

Late assignments will earn a penalty. Technical difficulties are NOT a justification for lateness.

  • The grace period for late assignments is as follows:
    • 1 day late-10% deduction off of the assignment grade
    • 2 days late-20% off of the assignment grade
    • 3 days late-the assignment will receive a grade of 0%
  • There will be no “extra credit.”



Academic Integrity:

Academic dishonesty in any form, such as plagiarism and cheating, will not be tolerated either in the online or traditional classrooms. Sanctions will include an automatic F for plagiarism, but the severity or frequency of the violation may result in dismissal from the College as well.

The following are among the forms of dishonesty, in a classroom of any type, which sanctions may be applied:

    • Using books, notes or other materials during an examination, unless expressly permitted;
    • Using purchased essays, term papers or preparatory research for such papers;

 

  • Copying others' work or engaging in unauthorized cooperation during an assignment or examination;
  • Allowing another student to copy from an examination or other assignment intended to be performed independently;

 

  • Borrowing from published works, whether material is taken verbatim or with minor alterations, without proper and/or sufficient acknowledgment;
  • Submitting as one’s own work originally done by someone else;
  • Submitting the same written report in more than one course without prior approval from the instructor(s) involved;
  • Stealing examinations or assignments;
  • Supplying or selling examinations or assignments;
  • Misrepresenting statements concerning work submitted;
  • Falsifying or fabricating experimental data or results;
  • Falsifying or fabricating the need for extensions on papers or make-up examinations.
  • Misrepresenting identity in an online course

 

Disability Statement

Lackawanna College is an Affirmative Action, Equal Employment Opportunity institution.  Students with disabilities and other needs should feel free to contact the instructor privately if there are services and adaptations which can be made to accommodate specific needs.  Students who are having difficulties with class material are strongly advised to seek assistance in the reading and writing lab.  If you feel that you have a disability that has not been formally documented, you may meet with Mrs. Christine Kiehart in the Disability Services office to discuss your options. Please note that disability services do not include exemption from participation requirements in courses considered part of the School of Distance Education, including online and hybrid courses.

 

Lackawanna College Notice of Nondiscrimination

Lackawanna College will not discriminate in its educational programs, activities, or employment practices, based on race, color, national origin, sexual orientation, disability, age, religion, ancestry, union membership, or any other legally protected classification. Announcement of this policy is in accordance with State Law including the Pennsylvania Human Relations Act and with Federal Law including Titles VI and VII of the Civil Rights Act of 1964, Title IX of the Education Amendments of 1972, Sections 503 and 504 of the Rehabilitation Act of 1973, the Age Discrimination Act of 1975, and Americans with Disabilities Act of 1990.

Title IX of the Education Amendment of 1972 is a federal civil rights law that prohibits discrimination on the basis of sex in federally funded education programs and activities. Lackawanna College is committed to providing an educational and work environment that is free from unlawful sexual discrimination including sexual harassment, sexual violence, and gender based harassment.

 

In accordance with Title IX of the Education Amendments of 1972, Lackawanna College will not tolerate any forms of sexual misconduct including but not limited to: sexual harassment, sexual assault, sexual violence and gender-based harassment by employees, students or third parties. This includes prohibiting discrimination against pregnant and parenting students. The College also prohibits retaliation against any person who makes a claim of discrimination or harassment or who provides information in such an investigation. This policy applies to admissions, employment, treatment and access to all programs and activities that take place either on or off the campus at Lackawanna College.

Lackawanna College will fully and promptly investigate all allegations of sexual misconduct and will take action reasonably designed to resolve the complaint in an equitable manner, end a hostile environment if one has been created, prevent its recurrence, and, when appropriate, take steps to remedy its effects on individuals and the college community.

 

Lackawanna College complies with Title IX and all other federal laws and regulations that prohibit discrimination in education programs or activities receiving federal financial assistance.

Reports or inquiries regarding nondiscrimination should be made to:

Title IX Coordinator/ Executive Director of the Student Wellness Program, Marsha Pigga, Angeli Hall, Room 102, 501 Vine Street, Scranton PA, 18509 (570) 955-1466/ (570) 677-7589, piggam@lackawanna.edu.

 

Equal Opportunity and Affirmative Action inquiries: Georgia Egan, Affirmative Action Officer/Director of Continuing Education, Angeli Hall, Room 300C, Vine Street, Scranton PA (570) 961-7815, EganG@Lackawanna.edu or Tony Ferrese, Affirmative Action Officer/Seeley Hall Residence Director, Seeley Hall, First Floor, North Washington Avenue, Scranton PA, (570) 504-1760, FerreseT@lackawanna.edu.

 

Additional information regarding Title IX requirements and how to file a complaint with the Office of Civil Rights: Office of Civil Rights at www2.ed.gov/ocr, 800-421-3481. Philadelphia Office: Office for Civil Rights U.S. Department of Education, The Wanamaker Building,100 Penn Square East, Suite 515, Philadelphia, PA 19107-3323 Telephone: 215-656-8541, Email: OCR.Philadelphia@ed.gov.   

Portfolio and Coursework

Lackawanna College will empower you to experience learning by inspiring your critical thinking, accessing your talents and skills, motivating you toward a career choice, and encouraging you to make a difference. In evidence of this learning, the College requires a graduation portfolio containing Career Documents, including a résumé, two letters of recommendation, and a career exploration; Core Coursework, including a research paper from College Writing; three sample papers or projects from Major Coursework; and a Lackawanna College Reflection Paper.



Course Schedule:

Week

Topic

Course Objective Met

Reading/Assign Due

1

Syllabus

Review

Chapter 11

Objective #1

Syllabus

Read Chapter 11

Write out new terms and definitions

Discussion Questions

Chapter 11 Assignment

2

Chapter 12

Objective #2

Read Chapter 12

Write out new terms and definitions

Discussion Questions

Chapter 12 Assignment

3

Chapter 13

Objective #3

Read Chapter 13

Write out new terms and definitions

Discussion Questions

Chapter 13 Assignment

4

Chapter 14

Objective #4

Read Chapter 14

Vocab Quiz

Discussion Questions

Chapter 14 Assignment

5

Chapter 15

Objective #5

Read Chapter 15

Vocab Quiz

Discussion Questions

Chapter 15 Assignment

6

Chapter 16

Objective #6

Read Chapter 16

Vocab Quiz

Discussion Questions

Chapter 16 Assignment

7

Chapter 17

Objective #7

Read Chapter 17

Vocab Quiz

Discussion Questions

Chapter 17 Assignment

8

Research Project

Objectives #1-7

Research Project Due