Frederick Community College

ACCT 102- ONL  Principles of Accounting II

Summer

 

Instructor Information:

 

Name: Brad Burtner, CPA 

Office:   L101H

E-mail: bburtner@frederick.edu

Phone Number:  301-846-2545

Office Hours: By Appointment Only

Campus Mail Box Number:  108

 

Course Information:

 

Credits:   3

Last Day to Drop: 

Prerequisites:  ACCT 101-Priniciples of Acct. I

Co-requisites:  None

Meeting Day(s): Anytime

Meeting Time(s):  Anytime

 

Course Description:

           

A continuation of the accounting concepts included in ACCT101, with the following additional topics: corporations, corporate securities, cash flows, financial statement analysis, managerial accounting for manufacturing operations, and generally accepted accounting principles.

 

Core Learning Outcomes:

 

By the completion of the course students will:

1.   Interpret the stockholders’ equity of a corporate balance sheet.

2.   Identify, measure, and analyze events and activities in accordance with generally accepted accounting principles.

3.   Identify and explain the “unusual” and “non-recurring” events disclosed on a corporate income statement.

4.   Analyze and evaluate a statement of cash flows.

5.   Prepare an analysis of the financial statements of a business entity.

6.  Apply the concepts of managerial accounting to internal decision making.

 

 

 

Instructional Methods:

 

 

1.   Independent and/or group problem solving/research activities

2.   Class discussions & communication via Discussion board & E-mail.

 

 

Text(s) for Course:

 

Required:  Financial & Managerial Accounting  Special Edition for Frederick Community College, Porter, Norton, Jackson, and Sawyers 

Thomson Custom Publishing    

 

Evaluation Methods:

Exams / Projects

Point Value

Final Grade Scale

 

 

 

Exam I Chapters 9 – 11

Exam II  Chapters 12, 13, 1, & 2

Exam III Chapters 3, 4, & 7

 

 

100

100

100

 

 

           

 

            A = 360 – 400 points

            B = 320 - 359 points

            C = 280 - 319 points

            D = 240 - 279 points

            F = Below 240 points

Project

 50

 

Practice Exams

 40

 

Self Introduction

 10

 

TOTAL POINTS AVAILABLE

400

 

 

 

Examination/Project Policy:

 

All exams and projects must be taken or turned in when scheduled unless prior notification is received and approved.  Failure to notify the instructor in advance may result in penalties being assessed at the instructor's discretion.  Projects and exams will be returned within two business days after submission.

 

 

Progress Report:  

 

Students will receive graded assessments to measure their progress, by the sixth week of the class.  Students have continuous access to their grade within (Grades/Tools).

 

Change of contact information:

 

Please notify me immediately of any change in E-Mail address, Phone number(s), residence address, or any other means of contact.

 

Instructor Availability:

 

I am available for office hours only by appointment.  I invite you to please contact me several days in advance if you wish to make an appointment.  I will do my best to be available to assist you.  The best way to contact me is via E-mail.  I check my E-mails and Discussion Board threads daily.  I will reply within 24 hours.

 

Instructional Philosophy:

 

This summer course is a very rapid pace.  Students are responsible for all the information in the assigned chapters – unless stated otherwise.  Students taking this course are self-learners and are motivated to complete and submit assignments on time.  Think of me as a guide, to get you through the class.  All the resources at FCC are available to you.  Everyone at FCC wants you to be successful.

 

I believe this on-line learning environment can be positive and enriching.  However, this requires interaction between everyone.  I expect students to solve problems among themselves with only guidance from me.  I strongly encourage everyone to voluntary interact within the Discussion Board.  Sharing our ideas by posting threaded discussions will help all of us learn.

 

It is imperative you continuously work on this course.  If something occurs and you are at a standstill, read your book, or apply other learning activities, to avoid getting behind.  There is always something you can do – Stay busy.

 

 

 

 

  Students with Disabilities:

FCC provides reasonable accommodations to otherwise qualified students with disabilities in accordance with the Americans with Disabilities Act of 1990 (ADA) and Section 504 of the Rehabilitation Act of 1973 (Section 504) and amendments.  Students with disabilities who are in need of accommodations must contact the Services for Students with Disabilities (SSD) office at 301-846-2408 (A Building, Room 106A) in order to request and apply for services.  The SSD office will require appropriate documentation of a disability.  Questions related to accommodations or services can be directed to the SSD office.  Additional information related to services can be viewed at the following FCC web page:  http://www.frederick.edu/student_services/disability.aspx. 

 

If you currently receive services from the SSD office, please submit your Student Success Plan to me and make an appointment with me to discuss your accommodations and needs in class.  I will hold any information you share with me in strict confidence unless you give me permission to do otherwise.

 

 

 

TOPICAL OUTLINE

 

                                   

Week

Chapter

Subject and Content

1

 

 

9

(Excluding Time Value of Money)

 

10

  

   

Self Introduction Posted on Discussion Board Deadline

 

Current Liabilities

   The nature of liabilities

   Current vs. Long-term liabilities

   Contingent liabilities

 

Long-Term Liabilities

   Balance sheet measurement & presentation

   Bonds Payable

   Liability for Leases

   Ratios for decision making

2

 

 

 

        11

Practice Exam I – DEADLINE

 

Project work- Selection of company and Annual Report

 

Stockholders’ equity

   Corporations: Nature & Formation

   Advantages & disadvantages

   Paid-in capital of a corporation

   Common stock and preferred stock

   Stock splits, stock dividends and treasury stock

3

9 – 11

 

          12

Exam I – DEADLINE

 

The Statement of Cash Flows

   Purpose and classifications

   Preparing the Statement of Cash Flows

   Operating, Investing, and Financing Activities

   Cash and Cash equivalents

   Using the statement

   The Direct vs. Indirect Method

4

 

 

          13

 

 

 

 

 

 

 1

(After Chapter 13)

 

 

 

 

           2

Practice Exam II – DEADLINE

 

Financial Statement Analysis

   Analysis of Comparative & Common-size Statements

     Horizontal & Vertical Analysis

   Liquidity Analysis and the Management of Working Capital

   Solvency Analysis

   Profitability Analysis

 

Accounting Information and Managerial Decisions

   The Users of Accounting Information

   The Decision-Making Role of Managers

   The Role of the Managerial Accountant

   A Decision-Making Model

   Relevant Factors and Decision Making

 

Corporate Governance and Ethics

  Corporate Governance

  Internal Control

  The Importance of Ethics

5

12, 13, 1, & 2

 

          3

Exam II – DEADLINE 

 

Product Costing:  Manufacturing Processes, Cost Terminology, and Cost Flows

   Manufacturing, Merchandising, and Service Organizations

   The Production Process

   Product Costs in a Manufacturing Company

   Nonmanufacturing Costs

6

4

 

 

 

 

    *****

Cost Behavior and Relevant Costs

   The Behavior of Fixed and Variable Costs

   The Cost Equation

   Mixed Costs and Using the High/Low Method

   Relevant Costs and Cost Behavior

 

PROJECT DEADLINE

 

7

 

 

          7

 

 

 

         

Practice Exam III – DEADLINE

 

Cost-Volume-Profit Analysis and Variable Costing

   The Contribution Margin Income Statement

   What-If Decisions using CVP

   Break-Even and Target Profit Analysis

   Assumptions of CVP Analysis

8

3, 4, & 7

EXAM  III – DEADLINE