Principles of Accounting II
MGMT 105-006
Spring 2008
Instructor: Christine Irujo
Course Description:
Continuation
of the emphasis in Principles of Accounting I upon corporate financial
reporting to external parties. An introduction to the concepts of underlying
the preparation of accounting information which is useful to management in the
planning and control of business operations.
3
credits.
Prerequisite:
MGMT
0104 Principles of Accounting I
Required Materials:
Principles of
Accounting, Needles, Powers, & Crosson, 10th ed., Houghton-Mifflin.
Access code to Eduspace
Working access
to Word & Excel
Ability to read
PowerPoint presentations & view QuickTime videos
Ability to
unzip files
Course Objectives:
This course has
two main objectives:
First: We will continue the coverage started in
Principles of Accounting I learning how to prepare corporate financial
statements. We will mainly concentrate
on the current liabilities, property, plant & equipment, stockholder’s
equity section, and the long-term liabilities sections of the balance
sheet. We will also study the statement
of cash flows and the time value of money.
Second: Students will be introduced to the concepts
underlying the preparation of accounting information that is useful to
management and the planning and control of business operations.
By the end of
this course you should be able to:
1. Define and work with several types of
current liabilities. You will know when
to record them along with their
related expense and how to make estimates
where needed.
2. Understand and be able to use time value of
money calculations.
3. Understand how to record the purchase of
property, plant & equipment.
Know how to record the depreciation,
amortization or depletion necessary
on PP&E. Be able to record the disposals of PP&E.
4. Understand what internal controls are, why
they are needed and methods of
internal control used in business.
5. Record entries for the sale of stock,
dividends and the purchase &
sale of treasury stock. You should be able to prepare the
stockholders’
section of a balance sheet for a
corporation.
6. Understand time value of money. Know which tables to use in the
appropriate situations.
7. Record all entries for long-term
liabilities. This includes being
able to calculate their selling
price.
8. Prepare an income statement and statement
of stockholders’ equity for
a corporation using both periodic
and perpetual inventory methods.
9. Understand what a statement of cash flows
is and be able to prepare one
using the indirect method.
10. Record
a company’s investments in securities.
11. Prepare
a statement of cost of goods manufactured.
12. Describe
the different types of costs incurred by companies and discuss the
behaviors of these costs.
13. Calculate
break even points, target profits and other types of cost-volume-
profit calculations.
Method of
Instruction:
Video
presentations for each chapter will be used to highlight the important concepts
of each chapter. You may watch the
videos and do the related homework at times convenient for you. You must complete each section by the due
dates given. Class notes will be made
available for each chapter to be used as you watch the videos.
Homework will
be broken down into 1. ungraded – you will be evaluated on it being done on
time whether it is right or wrong and 2. graded – you will be given a grade on
accuracy. Late homework will not be
accepted and will receive a grade of zero.
Exams:
Exams will be
given in a proctored situation this semester.
You will be required to either come to campus during a scheduled exam
time or make your own arrangements to have a proctored exam approved by me. There will be four exams in total.
Final Grade:
Your final
grade will be determined by your performance on your homework (both graded and
ungraded) and the four exams.
Get Up to Speed with PLATO:
Before
the semester begins, make sure you are ready for the online experience. Visit
the following websites to learn everything from “how to login”, to “checking
your browser configuration.”
http://www.wsc.ma.edu/plato/Seven_Steps_To_Logging_Into_Vista.html
http://www.webct.com/tuneup/viewpage?name=tuneup_browser_troubleshoot
What You Should Know Before
Taking This Course:
You
should read the information at this two sites: http://www.wsc.ma.edu/plato/gettingstarted.html
http://www.wsc.ma.edu/plato/Are_Online_Courses_For_Me.html
You must have access to a computer.
It should have high speed internet access. (the videos are almost impossible to
download with a dial-up connection). If
you do not have access or cannot get access to high speed internet you will be
required to use the computers on campus in the computer lab’s to do your work.
You
should plan on attending the orientation session previous to the start of class.
You
need to know how to add attachments to e-mails and discussions within Plato.
You
need to know Excel and Word. You need to
have access to these programs.
You
should be able to download files and plug-ins (and install them) from the web
if needed.
Know
the basics about your operating system.
I will not be teaching basic computer skills. You should know and understand what you have
for firewalls, pop up blockers, spam software and which browser you are using.
You should know how to disable some of the above software if it interferes with
downloading some of our files.
You
should be able to carry on an educated conversation about your computer and
your software with the people at the CIT HELP desk if you do encounter
problems.
You
need to realize that technical issues due come up. Think about this when you are planning out
your work schedule. Plan to get your
work in early whenever possible in case your system goes down or you encounter
some other technical issue.
This
course will probably take more time than a live course. You should be planning on at least three
hours a week for video presentation coverage which is in place of the three
classroom hours you normally have. You
should then be planning on a minimum of six to ten hour a week for homework and
studying. For most students this is the
minimum amount required to be successful in this class. Some of you may need more time.
Questions? E-mail me at: cirujo@wsc.ma.edu
Please note that this is a generic overview of the course. The official course syllabus will be
available to you once the course begins.
Some things in the final course schedule may be different from this
overview.