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Main · Arts and Sciences · Business and Economics Dept

Accounting Info for Management
ACCG-101

  • Spring 2021
  • Section All
  • 3 Credits
  • 01/11/2021 to 05/10/2021
  • Modified 12/16/2020

Description

Students will learn to interpret financial statements and use this information for analysis, budgeting, and decision-making. (F,Sp,Su)

Requisites

Prerequisite Course: None

Placement Scores: Reading Level 4 and Math Level 4

Contact Hours

Lecture

 48

Lab

0

Other

0

Total Hrs

48

Student Learning Outcomes

Upon successful completion of this course, students should be able to:

  1. Define appropriate terminology used in business financial transactions.
  2. Solve for the unknown amounts using the balance sheet equation.
  3. Prepare an Income Statement, Balance Sheet, and Statement of Owner's Equity, from transactions.
  4. Compute Depreciation using straight line method.  Understand and apply the double declining balance method.
  5. Compute Cost of Goods Sold and Ending Inventory, using First-In/First-Out, Last-In/First-Out, and weighted average methods.
  6. Analyze and describe a firm's performance with financial ratios and other tools.
  7. Prepare monthly Budgets, and monthly pro-forma Income Statements
  8. Describe the operations of a good system of internal control, including Petty Cash, Bank Reconciliation, and a Voucher System.

Materials

Evaluation

Student Electronic Access to Grades

D2L is the College’s Course Management System which includes a gradebook function allowing students access to their grades in order to receive timely and meaningful feedback on their progress in the course at any time. These grades will align with the Evaluation Criteria listed in this syllabus. D2L is accessed through the MyLCC page.

Whenever practicable, results for graded items should be posted electronically within 48 hours after the instructor has completed the grading process for the items, and final grades for the course should be entered no later than the specified grading day.

Criteria

Types of evaluations and related weights
Type Weight Topic Notes
Assignments 0-100%
Class Participation 0-100%
Exams or Tests 0-100%
Final Exam 0-100%
Other
Papers 0-100%
Portfolios 0-100%
Projects 0-100%
Quizzes 0-100%
Reports/Presentations 0-100%

Breakdown

 

College Standard

 

 

 

College Grading Standards

Recommended Guidelines for Student Grades

4.0  --- Excellent

4.0     ---     91 – 100%

3.5  --- ---------

3.5     ---     86 – 90%

3.0  --- Good

3.0     ---     81 – 85%

2.5  --- ---------

2.5     ---     76 – 80%

2.0  --- Satisfactory

2.0     ---     71 – 75%

1.5  --- ---------

1.5     ---     66 – 70%

1.0  --- Poor

1.0     ---     60 – 65%

0.0  --- --------

0.0     ---       0 – 59%

Course Policies

Class Attendance/Participation

Other

Extra Credit

Extra credit may be available in this course. This information is provided by the section instructor.

Institutional Policies

Academic Success Coaches

At Lansing Community College, student success is our top priority.  Our Academic Success Coaches mentor students to help them meet their educational, personal and career goals.  LCC faculty or staff may refer you to an Academic Success Coach if they recognize that mentoring or assistance may be helpful to you. Please monitor your LCC email for referral notifications.  Your participation in academic success coaching is voluntary.

In addition, we encourage you to contact an Academic Success Coach on your own if you need help, guidance or assistance to reach your goals.  To contact an Academic Success Coach, call (517) 483-1422, email [email protected], or visit the Academic Success Coaching Team website for more information.

Disability Statement

Students with disabilities who believe that they may need accommodations in this class are encouraged to contact the Center for Student Access, Gannon Building, Star Zone - Center for Student Support, via the Center for Student Access website, or by calling (517) 483-5323 as soon as possible to better ensure that such accommodations are implemented in a timely fashion.

Enrollment Verification

Class attendance and participation are essential to student success. Instructors will update class rosters by the 8th day after the start date of sections less than 8 weeks long, and by the 15th day after the start date of sections 8 weeks or longer to accurately reflect student enrollment in each course. Students who have not attended by these dates may be administratively dropped and responsible for any required tuition and fee charges.

Nondiscrimination Statement

Lansing Community College is committed to providing equal employment opportunities and equal education for all persons regardless of race, color, sex, age, religion, national origin, creed, ancestry, height, weight, sexual orientation, gender identity, gender expression, disability, familial status, marital status, military status, veteran’s status, or other status as protected by law, or genetic information that is unrelated to the person’s ability to perform the duties of a particular job or position or that is unrelated to the person’s ability to participate in educational programs, courses services or activities offered by the college.

The following individuals have been designated to handle inquiries regarding the nondiscrimination policies: Equal Opportunity Officer, Washington Court Place, 309 N. Washington Square Lansing, MI 48933, 517-483-1730; Employee Coordinator 504/ADA, Administration Building, 610 N. Capitol Ave. Lansing, MI 48933, 517-483-1875; Student Coordinator 504/ADA, Gannon Building, 411 N. Grand Ave. Lansing, MI 48933, 517-483-1885; Sarah Velez, Human Resource Manager/Title IX Coordinator, Administration Building, 610 N. Capitol Ave. Lansing, MI 48933, 517-483-1874; Christine Thompson, Student Title IX Coordinator, Gannon Building, 411 N. Grand Ave. Lansing, MI 48933, 517-483-1261.

Student Code of Conduct and General Rules and Guidelines

LCC supports a positive learning environment that provides opportunities for student success. The College recognizes the value and importance of a safe and orderly learning environment that encourages honesty, integrity, and ethical conduct. The Student Code of Conduct and General Rules and Guidelines ensure the protection of student rights and the health and safety of the College community, as well as aid in the efficient operation of College programs. In addition, the College has established procedures for addressing reports of alleged violations.                 

It is the responsibility of the student to be familiar with, and abide by, the Student Code of Conduct, as well as the General Rules and Guidelines. Furthermore, the instructor may establish reasonable guidelines within the classroom environment. Violations of the Student Code of Conduct and General Rules and Guidelines may be reported to the Office of Student Compliance.

Transfer Potential

For transfer information, please consult the LCC Transfer webpage.  In addition, the Michigan Transfer Network website allows students the ability to search courses and discover how those courses transfer to colleges and universities statewide.

The Michigan Transfer Agreement (MTA) simplifies the transfer of students from one Michigan institution to another. For the most current information, see the LCC General Education webpage.

For additional transfer information contact the Academic Advising Center in the Gannon Building - Star Zone, (517) 483-1904.

Compliance with COVID-19 Safety Precautions

All students, employees and visitors have a part to play in keeping the LCC community safe.  Everyone entering campus is required to adhere to the safety measures as outlined on the Spring Refresh 2021 webpage. Reports of noncompliance will be submitted to the Student Compliance Office for appropriate action.  Students with questions or concerns should email [email protected].

Media Release Statement

Photographs, pictures, slides, movies, video, or other media coverage of students may be taken for College-related business, in connection with their enrollment or participation in LCC activities without compensation from LCC, its Trustees, officers, directors, employees, students and agents of each of them, and photographs, pictures, slides, movies, video, or other media coverage of students may be used for any legal purposes.

Additional Items