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Main · Arts and Sciences · Business and Economics Dept

Accounting Info for Management
ACCG-101

  • Spring 2021
  • Section 50004
  • 3 Credits
  • 01/11/2021 to 05/10/2021
  • Modified 01/22/2021

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

Edmonds, 6e, Survey of Accounting, with CONNECT Access

https://connect.mheducation.com/class/s-stella-accounting-101-online-50004---spring-2021

Having trouble registering?

Get help here: http://bit.ly/StudentRegistration

Evaluation

Evaluation:

Student Electronic Access to Grades:

Most assignments are graded online immediately upon completion, and you should be able to view your grades in the D2L Gradebook real time. Some assignments require manual grading; therefore, there will be some turnaround time involved and those grades will be posted on D2L.

Criteria:  

Type

Weight

Points

Description

Assignments

42.0%

100

150

100

12 LearnSmart (in Connect) with 2 dropped at 10 points each

12 Connect Homework with 2 dropped at 15 points each

12 Discussion Boards (D2L) with 2 dropped at 10 points each

All assignments, except for discussion boards on D2L, will be completed in Connect, which is the textbook site that accompanies D2L.

Exams or Tests

37.5%

375

3 exams in Connect at 125 points each.

Projects

  5.5%

25

1 Financial Analysis project in Connect @ 25 points

Quizzes

15.0%

150

12 quizzes in Connect with 2 dropped at 15 points each.

Total Points

100%

900

 

 

Grading Scale: (Follows the LCC Grading Scale) 

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%

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

Course Policies: 

Class Attendance/Participation

Participation is crucial for success in this course.  The college has a policy of administratively dropping students that miss the first two weeks of classes or miss a substantial portion of the class.  To be counted as present at least one assignment must be completed.  (See the College Initiated Withdrawal Policy at Academic withdrawal policy.

 

Each student is expected to post in that week's Discussion Board by answering all the instructor-posted questions and by replying to at least one other classmate's post.  Additionally, all original posts answering the instructor questions must contain a minimum of 50 words. All responses to classmates’ posts must contain a minimum of 25 words. Weekly participation points are awarded based on the quantity and quality of your posts.  Short one-liners without much substance, when more can be typed, will not earn you many/any points. For example, if you respond to one of the instructor’s or a classmate's post as: "I totally agree with you! The special journals are very helpful in keeping things organized," and if this is your only response to someone's posts, it will not be enough to earn you full participation points in this category.  Note that the above example is an acceptable response, but it alone, is not enough.  You need to be analytical, and show you have a good understanding of the chapter materials by providing complete and well-thought-out responses.  Also, postings containing inappropriate, rude and/or abusive language will receive zero points and may be reported to the Dean’s office.  The quality of your postings will be evaluated by these standards and the rubric below.  

 

ACTIVE PARTICIPATION RUBRIC

8-10 Participation Points      

  • The student consistently helped clarify other class members’ ideas.
  • The student stated his/her disagreement or objections clearly, yet politely.
  • The student responded to at least one classmate's post.
  • The student answered all the instructor-posted questions. (If the student responses are lacking any of the elements posted in each forum’s instructions, or are not answered accurately, or completely, then full points will not be awarded in this category).

 

4-7 Participation Points

  • The student was notably lacking in one of the items listed above.
  • The student usually, but not always, expressed himself or herself clearly.
  • The student did not respond to any classmates' posts.
  • The student did not answer all the instructor-posted questions. (If the student responses are lacking any of the elements posted in each forum’s instructions, or are not answered accurately, or completely, then full points will not be awarded in this category).

 

1 - 3 Participation Points

  • The student was consistently lacking in two or more of the items listed above.
  • The student may have been prompted to participate.
  • The student did not respond to any classmates' posts.
  • The student did not answer all the instructor-posted questions. (If the student responses are lacking any of the elements posted in each forum’s instructions, or are not answered accurately, or completely, then full points will not be awarded in this category).

 

0 Participation Points

  • The student was rude or abusive to other course participants.
  • The student consistently failed or refused to participate at all, even with or without specifically prompted or questioned.
  • The student did not respond to any classmates' posts.
  • The student did not answer any of the instructor-posted questions.

 

Online Classroom Behavior

Online Classroom behavior that interferes with the instructional process will not be tolerated.  Students are required to be familiar with, and abide by the College's Student Code of Conduct and the General Rules and Guidelines.  Students that continue to show disruptive behavior, after being warned, may be administratively dropped from class.

Makeup Policy

Below is a summary of the makeup policy:

Exams  

Exams must be taken by the date assigned unless prior arrangements are made (at least 5 days in advance, not the day of the exam or after) or if there are extraordinary circumstances.  Extraordinary circumstances are left to the judgement of the instructor. You will generally have about a week to take exams so having a cold the last two days an exam is available is not considered extraordinary circumstances.

Quizzes  

Since students are allowed to drop quiz grades, there are no make-up quizzes regardless of circumstances.  The dropped quiz is allowed so that makeups do not need to be given. If a student knows that they are missing a quiz date in advance, arrangements may be made to take it early if convenient.  If you take a quiz after the due date there will be an automatic points deduction. You can do so for up to 7 days with 10% reduction in your grade per day or partial day late.

Connect Homework  

Connect homework is due by the date assigned. Since students are allowed to drop Connect homework grades, there are no late assignments accepted regardless of circumstances. The dropped quiz is allowed so that time extensions do not need to be given. 

LearnSmart 

Since students are allowed to drop LearnSmart grades, late submission will not be accepted and will receive a grade of zero.

Other Assignments 

Comprehensive problems, projects, and any other work are items designed to help students with preparation for exams and are due before the exams or as indicated in the schedule.  Students will not benefit by the assignment if not done on time.  Thus, no credit will be awarded for late assignments.

 

Tutoring

If you need regular tutorial help, I suggest visiting the Tutorial Services website at http://www.lcc.edu/tutorial/. 

 

Instructor's Right to make changes to the syllabus  

The instructor reserves the right to make changes to the syllabus during the course.

Extra Credit

Extra credit may be available in this course. Extra credit of up to 5 points each may be earned by taking the practice tests. Any other potential extra credit will be announced by the 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.