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Revised January, 2017 Page 1
Syllabus
Principles of Accounting II
BAN223 S-1 (Hybrid)
Spring 2017
Course Name: Principles of Accounting II
Course Number: BAN 223 (ACTS 2013)
Academic Year: Spring 2017
Prerequisite: BAN 213 or departmental approval. (A continuation of BAN 213 (ACCT 2003) Emphasis will be placed on partnerships and corporations. Cost and budget accounting will be introduced as well as analysis and interpretation of corporate financial statements.
Credit Hours: 3 hrs. 3 credits
Revision Date: Spring 2017
INSTRUCTOR
Instructor: Mrs. Martha Brothers
Office Location: C114
Office Phone#: (870)673-4201
EX 1834
Email Address: [email protected]
Office Hours: Posted C114
Text: Accounting, 26th edition. Warren, Reeve, Duchac. South-Western/Cengage Learning
Materials Required:
Digital First (Chapters 1-26 bundled with 2 semester access code) ISBN: 9781305617063
This bundle includes:
1. Loose-leaf edition of Warren’s Accounting 26th edition -
2. Access Code to CengageNOWv2 (2 terms (12 months)
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This is the bundle that will be ordered in the
bookstores.
NOTE: If you took Accounting I in the fall of
2016 with Mrs. Brothers, you will be using the
same book and Access Code.
In addition, you will need:
Computer with Internet Access
Calculator
Students for whom this course is intended: This course is intended for students seeking an
associate of applied science or associate of arts degrees primarily to fulfill requirements within
the Division of Business. This course is a transfer course, which means students must earn a
grade of “C” or better in order for it to transfer to a four-year university of college.
Catalog Description: BAN 223 (Principles of Accounting II)
3 hrs. 3credits
Prerequisite: BAN 213 or departmental approval. (A continuation of BAN 213 (ACCT 2003)
Emphasis will be placed on partnerships and corporations. Cost and budget accounting will be
introduced as well as analysis and interpretation of corporate financial statements.
Course Requirements: Computer Equipment and Software
Student must have access to the Internet and World Wide Web.
Pop-Up blockers must be turned off while working in Blackboard.
Minimum required computer configuration: PC with Pentium II processor or better, 128 RAM
(minimum). DSL or Cable connection preferred – dial-up 56K modem acceptable, but very
slow Internet connection. Firefox is the preferred browser as IE is often not compatible with
the software.
Course Objectives: Upon completion of Principles of Accounting II, the student should be
competent in the following subjects:
1. Accounting issues related to accounts receivable and notes receivable
2. Fixed assets, intangible assets, natural resources, and the accounting issues related to
these assets
3. Obligations included in the Current Liabilities section of the balance sheet: notes
payable, contingent liabilities, payroll, employee fringe benefits, and ratios
4. Characteristics of a corporation including topics related to stock
5. Statement of Cash Flows
6. Financial Statement Analysis
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Learning Objectives:
After students have completed activities and exercises assigned for each chapter, they should
be able to:
CHAPTER 8- OBJECTIVES
Sarbanes-Oxley, Internal Control, and Cash
OBJ 1 - Describe the Sarbanes-Oxley Act and its impact on internal controls and financial
reporting.
Sarbanes-Oxley Act
OBJ 2 - Describe and illustrate the objectives and elements of internal control.
Internal Control
Objectives of Internal Control
Elements of Internal Control
Control Environment
Risk Assessment
Control Procedures
Monitoring
Information and Communication
Limitations of Internal Control
OBJ 3 - Describe and illustrate the application of internal controls to cash
Cash Controls Over Receipts and Payments
Control of Cash Receipts
Control of Cash Payments
OBJ 4 - Describe the nature of a bank account and its use in controlling cash.
Bank Accounts
Bank Statement
Using the Bank Statement as a Control Over Cash
OBJ 5 - Describe and illustrate the use of a bank reconciliation in controlling cash.
Bank Reconciliation
OBJ - Describe the accounting for special-purpose cash funds.
Special-Purpose Cash Funds
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OBJ 7 - Describe and illustrate the reporting of cash and cash equivalents in the financial
statements.
Financial Statement Reporting of Cash
OBJ 8 - Describe and illustrate the use of the ratio of cash to monthly cash expenses to assess
the ability of a company to continue in business.
Financial Analysis and Interpretation: Ratio of Cash to Monthly Cash Expenses .
CHAPTER 9 – OBJECTIVES
Receivables
OBJ 1 - Describe the common classes of receivables.
Classification of Receivables
Accounts Receivable
Notes Receivable
Other Receivables
OBJ 2 - Describe the accounting for uncollectible receivables.
Uncollectible Receivables
OBJ 3 - Describe the direct write-off method of accounting for uncollectible receivables.
Direct Write-Off Method for Uncollectible Accounts
OBJ 4 - Describe the allowance method of accounting for uncollectible receivables.
Allowance Method for Uncollectible Accounts
Write-Offs to the Allowance Account
Estimating Uncollectibles
OBJ 5 - Compare the direct write-off and allowance methods of accounting for uncollectible
accounts.
Comparing Direct Write-Off and Allowance Methods
OBJ 6 - Describe the accounting for notes receivable.
Notes Receivable
Characteristics of Notes Receivable
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Accounting for Notes Receivable
OBJ 7 - Describe the reporting of receivables on the balance sheet.
Reporting Receivables on the Balance Sheet
OBJ 8 - Describe and illustrate the use of accounts receivable turnover and number of days'
sales in receivables to evaluate a company's efficiency in collecting its receivables.
Financial Analysis and Interpretation: Accounts Receivable Turnover and Number of
Days' Sales in Receivables
CHAPTER 10 – OBJECTIVES
Fixed Assets and Intangible Assets
OBJ 1 - Define, classify, and account for the cost of fixed assets.
Nature of Fixed Assets
Classifying Costs
The Cost of Fixed Assets
Capital and Revenue Expenditures
Leasing Fixed Assets
OBJ 2 - Compute depreciation, using the following methods: straight-line method, units-of-
output method, and double-declining-balance method.
Accounting for Depreciation
Factors in Computing Depreciation Expense
Straight-Line Method
Units-of-Output Method
Double-Declining-Balance Method
Comparing Depreciation Methods
Depreciation for Federal Income Tax
Revising Depreciation Estimates
OBJ 3 - Journalize entries for the disposal of fixed assets.
Disposal of Fixed Assets
Discarding Fixed Assets
Selling Fixed Assets
OBJ 4 - Compute depletion and journalize the entry for depletion.
Natural Resources
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OBJ 5 - Describe the accounting for intangible assets, such as patents, copyrights, and
goodwill.
Intangible Assets
Patents
Copyrights and Trademarks
Goodwill
OBJ 6 - Describe how depreciation expense is reported in an income statement and prepare a
balance sheet that includes fixed assets and intangible assets.
Financial Reporting for Fixed Assets and Intangible Assets
OBJ 7 - Describe and illustrate the fixed asset turnover ratio to assess the efficiency of a
company's use of its fixed assets.
Financial Analysis and Interpretation: Fixed Asset Turnover Ratio
CHAPTER 11– OBJECTIVES
Current Liabilities and Payroll
OBJ 1 - Describe and illustrate current liabilities related to accounts payable, current portion
of long-term debt, and notes payable.
Current Liabilities
Accounts Payable
Current Portion of Long-Term Debt
Short-Term Notes Payable
OBJ 2 - Determine employer liabilities for payroll, including liabilities arising from
employee earnings and deductions from earnings.
Payroll and Payroll Taxes
Liability for Employee Earnings
Deductions from Employee Earnings
Computing Employee Net Pay
Liability for Employer's Payroll Taxes
OBJ 3 - Describe payroll accounting systems that use a payroll register, employee earnings
records, and a general journal.
Accounting Systems for Payroll and Payroll Taxes
Payroll Register
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Employee's Earnings Record
Payroll Checks
Computerized Payroll System
Internal Controls for Payroll Systems
OBJ 4 - Journalize entries for employee fringe benefits, including vacation pay and pensions.
Employees' Fringe Benefits
Vacation Pay
Postretirement Benefits Other than Pensions
Current Liabilities on the Balance Sheet
OBJ 5 -Describe the accounting treatment for contingent liabilities and journalize entries for
product warranties.
Contingent Liabilities
Probable and Estimable
Probable and Not Estimable
Reasonably Possible
Remote
OBJ 6 - Describe and illustrate the use of the quick ratio in analyzing a company's ability to
pay its current liabilities.
Financial Analysis and Interpretation: Quick Ratio
CHAPTER 13– OBJECTIVES
Corporations: Organization, Stock Transactions, and Dividends
OBJ 1 - Describe the nature of the corporate form of organization.
Nature of a Corporation
Characteristics of a Corporation
Forming a Corporation
OBJ 2 - Describe the two main sources of stockholders' equity.
Stockholders' Equity
OBJ 3 - Describe and illustrate the characteristics of stock, classes of stock, and entries for
issuing stock.
Paid-In Capital from Issuing Stock
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Characteristics of Stock
Classes of Stock
Issuing Stock
Premium on Stock
No-Par Stock
OBJ 4 - Describe and illustrate the accounting for cash dividends and stock dividends.
Accounting for Dividends
Cash Dividends
Stock Dividends
OBJ 5 - Describe and illustrate the accounting for treasury stock transactions.
Treasury Stock Transactions
OBJ 6 - Describe and illustrate the reporting of stockholders' equity.
Reporting Stockholders' Equity
Stockholders' Equity on the Balance Sheet
Reporting Retained Earnings
Statement of Stockholders' Equity
Reporting Stockholders' Equity for Mornin' Joe
OBJ 7 - Describe the effect of stock splits on corporate financial statements.
Stock Splits
OBJ 8 - Describe and illustrate the use of earnings per share in evaluating a company's
profitability.
Financial Analysis and Interpretation: Earnings per Share
CHAPTER 16 – OBJECTIVES
Statement of Cash Flows
OBJ 1 - Describe the cash flow activities reported in the statement of cash flows.
Reporting Cash Flows
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
Noncash Investing and Financing Activities
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No Cash Flow per Share
Format of the Statement of Cash Flows
OBJ 2 - Prepare a statement of cash flows, using the indirect method.
Preparing the Statement of Cash Flows—The Indirect Method
Retained Earnings
Adjustments to Net Income
Dividends
Common Stock
Bonds Payable
Building
Land
Preparing the Statement of Cash Flows
OBJ 3 - Prepare a statement of cash flows, using the direct method.
Preparing the Statement of Cash Flows—The Direct Method
Cash Received from Customers
Cash Payments for Merchandise
Cash Payments for Operating Expenses
Gain on Sale of Land
Interest Expense
Cash Payments for Income Taxes
Reporting Cash Flows from Operating Activities—Direct Method
OBJ 4 - Describe and illustrate the use of free cash flow in evaluating a company's cash flow.
Financial Analysis and Interpretation: Free Cash Flow
CHAPTER 17 - OBJECTIVES
Financial Statement Analysis
OBJ 1 - Describe basic financial statement analytical methods.
Basic Analytical Methods
Horizontal Analysis
Vertical Analysis
Common-Sized Statements
Other Analytical Measures
OBJ 2 -Use financial statement analysis to assess the solvency of a business.
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Liquidity and Solvency Analysis
Current Position Analysis
Accounts Receivable Analysis
Inventory Analysis
Ratio of Fixed Assets to Long-Term Liabilities
Ratio of Liabilities to Stockholders' Equity
Number of Times Interest Charges Are Earned
OBJ 3 - Use financial statement analysis to assess the profitability of a business.
Profitability Analysis
Ratio of Sales to Assets
Rate Earned on Total Assets
Rate Earned on Stockholders' Equity
Rate Earned on Common Stockholders' Equity
Earnings per Share on Common Stock
Price-Earnings Ratio
Dividends per Share
Dividend Yield
Summary of Analytical Measures
OBJ 4 - Describe the contents of corporate annual reports.
Corporate Annual Reports
Management Discussion and Analysis
Report on Internal Control
Report on Fairness of the Financial Statements
1. ACADEMIC INTEGRITY:
Cheating Policy
Students are expected to uphold the school’s standard of conduct relating to academic
honesty. Students assume full responsibility for the content and integrity of the academic work
they submit. The guiding principle of academic integrity shall be that a student’s submitted
work, examinations, reports, and projects must be that of the student’s own work. Students
shall be guilty of violating the honor code if they:
1. Represent the work of others as their own.
2. Use or obtain unauthorized assistance in any academic work.
3. Give unauthorized assistance to other students.
4. Modify, without instructor approval, an examination, paper, record, or report for the
purpose of obtaining additional credit.
5. Misrepresent the content of submitted work.
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6. Only students who are taking the course are allowed to login to the course. Please do not
share your login as this can be considered cheating.
Administrative Procedure Number: 404.05
Cheating in any form (including using unauthorized materials, information, or study aids in any
academic exercise; plagiarism; falsification of records; unauthorized possession of
examinations; any and all other actions that may improperly affect the evaluation of a student's
academic performance or achievement; and assisting others in any such act) is forbidden. An
instructor who has proof that a student is guilty of cheating may take appropriate action up to
and including assigning the student a grade of "F" for the course and suspending the student
from class. A description of the incident and the action taken will be reported through the dean
to the Vice Chancellor for Instruction and placed in the student's file in the Office of
Admissions and Records. The student may appeal either the finding of cheating or the penalty,
or both, as described in Administrative Procedure No. 404.06, Academic Appeal Procedure.
Cheating in this class: Cheating will not be tolerated. If you are cheating on one occasion, you will receive an “F”
for the whole project’s work (not limited to that one assignment). If found cheating on a
second occasion, you will be asked to drop the class. If the cheating occurs after the drop date,
or if you choose not to drop, you will receive an “F” for this class. The registered student in
the class is the only one who should log-in to the course. If it is determined that someone other
than the registered student is logging in, this will be considered cheating and reasonable cause
for an “F” in the course.
CAMPUS SUPPORT SERVICES:
Phillips Community College of the University of Arkansas provides student support services
that assist students in achieving their educational objective. Those services include advising,
financial aid, counseling and guidance, and safety and security.
ADA POLICY:
Scott Post is the Vice Chancellor for Student Services and serves as the ADA Compliance
Officer. As an open enrollment college, PCCUA strives to meet the needs of students with
self-disclosed disabilities who wish to advance their education. A student with a disability
must meet with the campus Disabilities Coordinator to obtain reasonable accommodations.
Students who have met with the Coordinator are more likely to experience success in
a positive learning environment. If you have a disability please contact the Student
Disabilities Coordinator for your campus.
DeWitt-Phyllis Fullerton (870) 946-3506 ext. 1610
Helena-George White (870) 338-6474 ext. 1135
Stuttgart-Sylvia Boyd (870) 673-4201 ext. 1809
The process of student referral under the Americans with Disabilities Act can be found in
the Student Handbook.
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FERPA POLICY:
Phillips Community College of the University of Arkansas complies with the Family
Educational Rights and Privacy Act (FERPA) of 1974. A student has the right to inspect and
review all of his/her records that meet the definition of educational records. No third party has
the right to review student records. Directory information can be provided unless the student
request that it be withheld.
INSURANCE:
Phillips Community College of the University of Arkansas does not provide insurance for its
students. The college does encourage each student to secure his/her own insurance, and for
that reason, the college has contacted United Healthcare Student Resources. Forms for this
insurance are available in the Registrar's office.
ARKANSAS COURSE TRANSFER SYSTEM: (ACTS)
The Arkansas Course Transfer System (ACTS) contains information about the transferability
of course within Arkansas Public Colleges and Universities. Students are guaranteed the
transfer of applicable credits and the equitable treatment in the application of credits for the
admission and degree requirements. Course transferability is not guaranteed for courses listed
in ACTS as "No Comparable Course." Additionally, courses with a "D" frequently do not
transfer and institutional policies may vary. ACTS may be accessed on the Internet by going to
the ADHE website and selecting Course Transfer. www.adhe.edu
ASSIGNMENTS AND GRADING
This course emphasizes learning through doing. It is imperative that you read the text carefully,
do the assigned homework.
Assignments often build on previous assignments. If you do half-hearted work in Chapter 1, you
may have difficulty in Chapter 2, and be lost in Chapter 3. Tutoring may be available for students
who desire additional help.
PCCUA Core Competencies
All students receiving an Associate’s Degree from PCCUA will possess the following five core
competencies (STACC): 1. Social and Civic Responsibility: Behavior demonstrates adherence to legal/ethical standards
established by society.
2. Technology Utilization: Use tools of the trade to achieve a specific outcome.
3. Analytical & Critical Thinking: Modes of reasoning including analyzing data, evaluating
alternatives, setting priorities, and predicating outcomes.
4. Communication: The interactive process through which there is an exchange of verbal and/or
nonverbal information.
5. Cultural Awareness: Acknowledgement that society is diverse with groups of individuals possessing
differing beliefs, values, attitudes, and customs that are shared from one generation to the next.
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GRADING
As an on-line student, you will not be receiving the traditional lecture. CengageNow2 supplies
you with an e-lecture on each chapter. You will also be able to access exercise demos,
illustrative problems video cases, various tests and quizzes, and games.
Grading will be based on the following assessments: **** See below
Tests: Tests will be administered after each chapter for the period specified. Be sure to
mark your calendars for test dates as make-up tests will not be available.
Final Exam: “Proctored Exam” – Student will make arrangements with the
designated proctor for online testing on their home campus. No textbooks or
notes will be allowed during the exam. The instructor will supply a study
guide in order to guide students in preparing for this exam.
Timed Exams: The “timed exam” on each chapter can be done on a home
computer at the student’s convenience. The “time exam” must be completed
in the given time period (example-30 minutes) and will be available for only
a specified length of time. The tests will consist of OBJECTIVE TESTS in
Blackboard and PROBLEM TESTS in Cengage.
Objective Tests – 20%
Problem Tests – 20%
25%
40%
Homework Exercises and Problems:
Homework assignments will be given with each chapter and will be done
through CengageNow2. I will be able to check your progress to see how you
are doing. Don’t get behind!
****Late homework will not be accepted. You will be able to check the
calendar to see when assignments are due. Please contact me by phone or email
to let me know if you are having problems.
20%
Class Participation and Attendance: (Discussion Board Points)
To receive points for class participation and attendance in this Blackboard
class, students will be required to participate in group discussions in
Blackboard. The instructor will post questions for each chapter, and in order
to receive credit for the class participation and attendance, the student must
post to the discussion. Further instructions will be posted to the Discussion
Board Assignment Page. Be sure to post on time as the Discussion Board
will close at that time. This is designed to help your grade, but failure to
complete the assignments will definitely lower your grade.
15%
Total 100
Grading Scale
90 – 100% = A
80 - 89% = B
70 - 79% = C
60 - 69% = D
Below 60%= F
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**** Be sure to complete your assignments as no extra work will be assigned in order to
make-up for failure in turning in assignments.
Martha Brothers
Testing Policy
Tests: Tests will be administered after each chapter for the period specified. Be sure to mark
your calendar for test dates as make-up tests will not be available. A test schedule will be
available on the homepage. Once you begin the tests, you must complete it within the time
allowed.
Final Exam: “Proctored Exam” – Student will make arrangements with the designated proctor
for online testing on their home campus. No textbooks or notes will be allowed during the
exam. The instructor will supply a study guide in order to guide students in preparing for this
exam. Students are required to take one proctored exam. Your proctored exam will be your
final.
Proctor information for PCCUA is as follows:
*Students may begin exams any time within the daily testing
time, but must finish by the end time shown. Photo ID
required.
All tests will be timed, and you will only be allowed to take the test one (1) time. If you skip
or leave a question unanswered, you will not be able to return to that question so make sure
you have answered each question before proceeding.
*The instructor reserves the right to change this syllabus in order to meet the needs of the
student