Principles of Accounting II
MGMT 105
Summer Session
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.
Prerequisite:
MGMT 0107 Software Applications in Management
(You MUST have a working knowledge of Excel.
It is required that your homework and exams be done in Excel.)
Required Materials:
Principles of
Accounting, Needles, Powers, & Crosson, 10th ed., Houghton-Mifflin.
2008 1312 Pages Hardcover
ISBN-13: 978-0-618-73661-4
ISBN-10: 0-618-73661-1
OR
2008 1312 Pages eBook Downloadable (If you prefer
the eBook over the Hardcover)
ISBN-13: 978-0-618-73670-6
ISBN-10: 0-618-73670-0
Working access
to Word & Excel
Ability to read
PowerPoint presentations & view QuickTime videos
Course Objectives:
By the end of
this course you should be able to:
v Define and work
with several types of current liabilities.
You will know when to record them to record them along with their
related expense and how to make estimates where needed.
v Understand how
to record the purchase of property, plant & equipment. Know when and how to record the depreciation,
amortization or depletion necessary on PP&E. Be able to record the disposals of PP&E.
v Understand what
internal controls are, why they are needed and methods of internal control used
in business.
v 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.
v Understand time
value of money. Know which tables to use
in the appropriate situations and be able to use Excel to calculate payment
amounts, present values and future values as well as produce amortization
tables.
v Record all
entries for long-term liabilities. This
includes being able to calculate their selling price.
v Prepare an
income statement and statement of stockholders’ equity for a corporation using
both periodic and perpetual inventory methods.
v Understand what
a statement of cash flows is and be able to prepare one using the indirect
method.
v Record a
company’s investments in securities.
v Prepare a
statement of cost of goods manufactured.
v Describe the
different types of costs incurred by companies and discuss the behaviors of
these costs.
v Calculate break
even points, target profits and other types of cost-volume-profit calculations
Method of
Instruction:
Video
presentations will be used to highlight the important concepts of each chapter. Notes will be provided to be used as you
watch the videos. You may watch the
videos at times convenient for you. At
the beginning of each week I will post the assignments for that week. Assignments will be due several times a week.
Exams:
There will be
three exams delivered online over the six weeks, one after every two weeks. The exams will consist of multiple choice
questions, short essays, short exercises and long problems. Due to the nature of the topic these exams
will be cumulative but they will focus more on the newest material covered
since the previous exam.
Final Grade:
Your
final grade will be determined by your performance on your homework (both
graded and ungraded) and the three 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
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.
Online
courses are NOT easier than regular semester live classes. They do NOT take less time. In fact they will probably take more time
than a live course. Don’t take an online course thinking it is the
easy way out.
Summer
courses are very demanding on your time.
Particularly courses like accounting.
Be sure you have the time to commit.
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.