New York City College of Technology
Department of Business
Course Title: Principles of Accounting I Instructor: Rachel Raskin
Course Number: ACC 1101 Hybrid Office Room: 1024 NAMM
Semester: Office Hours:
Phone #: 718- 260-5185
Virtual Office: Email rraskin@citytech.cuny.edu or Blackboard Discussion Board
I will respond within 24 hours as I’ll be checking in online daily, Monday – Friday
In Class Meetings:
Virtual Meetings: Our virtual classroom will take place on the Discussion Board in Blackboard
Reading Material
The readings for the class can be found on our course Open Lab site, under the ‘Readings’ section. There is an article, book chapter and relevant video for each chapter that we will cover in the course.
The course includes the following topics: Measuring and Recording Business Transactions, Business Income and Adjusting Entries, Completion of the Accounting Cycle, Accounting for Merchandising Operations, Inventories, Internal Control and Cash, Receivables, Plant Assets and Intangibles and Accounting Information Systems.
Online Component Description
This course will be 50% online – the online classroom environment will be held on Blackboard on the Discussion Board. Readings, tutorials and other important information can be found on the course OpenLab site. Students are expected to come to class having read the chapter to be discussed.
Accessing Blackboard
- Copy and paste the following link into your browser to get to the Blackboard login page:
https://cunyportal.cuny.edu/cpr/authenticate/portal_login.jsp
- In order to log into Blackboard, you need to know your CUNY Portal username and password.
- To obtain a CUNY Portal username and password, please register by pasting the link below into your browser and following the instructions: https://cunyportal.cuny.edu/citizen_CUNY/new_user_registration/regchoice.html
- For a beginner’s guide to BlackBoard as well as BlackBoard workshops schedule, call 718-254- 8565 or please visit:
http://websupport1.citytech.cuny.edu/websupport1/It/online/students/index.html
Technology Requirements
You will need access to a computer and be able to use an internet browser such as Internet Explorer or Firefox.
You will need an e-mail account and be comfortable using it.
You should have a working knowledge of a word processing program and be familiar with a spreadsheet program such as excel.
The student computer lab in G600 is available for use with a current CUNY ID card.
Course Objectives and Learning Outcomes:
An important objective of the course is the intelligent interpretation and use of financial statements in managing and analyzing business operations. To further this objective, students will gain a firm understanding and working knowledge of:
-Basic accounting terminology and the process by which transactions are analyzed and transformed into financial statements
-The structure and content of the income statement and the current asset side of the balance sheet.
Special emphasis is placed on the measurements of assets and their associated effects on a company’s earnings. Future accounting majors will obtain a foundation that will allow them to move on to advanced accounting courses.
A secondary objective is making ethical decisions in financial reporting.
This course will enable students to analyze and record business transactions and to present financial information by preparing and analyzing financial statements.
| Learning Outcomes | Assessment Methods |
| Understand the building blocks of accounting, the main activities and users of accounting. Learn the accounting equation and describe the four financial statements. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. Group term project. |
| Understand how to record transactions in accounts using debits and credits. Learn the recording process from journals to posting to ledgers and preparing a trial balance. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
| Understand the accrual process and how to prepare adjusting entries for deferrals and accruals. Prepare a post-adjustment trial balance. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class.
Relevant article reading and analysis. |
| Understand the closing process and how to prepare closing entries as well as a post-closing trial balance. Learn how to prepare correcting entries. Understand how to read and analyze a classified balance sheet. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
| Understand merchandising operations and inventory systems as well as how to apply the accounting cycle to merchandisers. Understand the differences between a multi-step and single-step income statement. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
| Understand how to classify and determine inventory and how to apply different inventory cost flow methods. Assess the impacts of inventory errors on the financial statements. Analyze inventory. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
| Understand the purpose of accounting information systems. Understand subsidiary ledgers and special journals. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
| Understand fraud and internal controls and apply internal controls to cash. Learn to prepare a bank reconciliation. Understand the reporting of cash. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. Group term project. |
| Learn how to recognize and value account receivables/notes receivables and how record their disposition. Learn how to present and analyze receivables. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. Group term project. |
| Understand how to account for plant assets, natural resources, and intangible assets and the use of various cost recovery methods. | Homework and exam problems including brief exercises and multiple choice questions as well as group work in class. Relevant article reading and analysis. |
Learning Objectives – General Education
An objective of all involved with this course is to continually improve it. Continuous improvement, the fundamental tenet of Total Quality Management is based on the concepts of quality, empowerment, process and zero defects. Quality means that we (instructor and students) strive to exceed each other’s expectations and those who use the output of our class. Empowerment means that we (instructor and students) must take responsibility for making the course the best that it can be. Process means that we (instructor and students) must focus on how we can make each class, assignment, examination, and activity better than the last. Finally, zero defects means that we (instructor and students) will complete every class, assignment, examination, and activity to the best of our ability.
GENERAL EDUCATION LEARNING OUTCOMES/ASSESSMENT METHODS
| Learning Outcomes | Assessment Methods |
| KNOWLEDGE: Develop knowledge of fundamental accounting concepts needed to understand the role and application of financial accounting. | Exercises, multiple choice questions, on homework assignments and on exams that test an understanding of key concepts. Weekly article reading assignments. |
| SKILLS: Develop and apply the tools needed for communication, critical analysis, inquiry, and productive work. | Extensive, in-class problem solving exercises and regular homework assignments that emphasize the development of these skills. Written communication skills are developed through weekly written assignments as well as a written project with application of APA guidelines. Use of technologies, including email, Wiley Plus, Microsoft Word and Excel. |
| INTEGRATION: Use the knowledge and skills/ tools acquired in the course and work productively within and across disciplines. | Weekly article reading and writing assignments. Application of knowledge/skills acquired will be demonstrated in a group project and presentation. |
| VALUES, ETHICS, AND RELATIONSHIPS: Understand and apply values, ethics, and diverse perspectives in personal, civic, and cultural/global domains. | Essay on homework assignments, in-class discussions and group work. Group term project. |
Grading Policy
Bi Weekly exams 30%
Chapter Quizzes 10%
Homework 20%
Term Project 10%
Participation/Group Work 10%
Final examination 20%
Total 100%
Grading Rubric
Grades will be based on the rubric below:
| A | A- | B+ | B | B- | C+ | C | D | F |
| 93-100 | 90-92.9 | 87-89.9 | 83-86.9 | 80-82.9 | 77-79.9 | 70-76.9 | 60-69.9 | 59.9 and below |
Assignments
All homework assignments will be posted on WileyPlus. Students will need to purchase the access code along with the text book in order to set up an account on www.WileyPlus.com and view / complete assignments. All assignments must be submitted by the specified due dates.
Term Project :
Topic for the term project:
Ethics is a very important issue in both the accounting and business world. Accountants are held to a high ethical standard and are expected to make ethical decisions that protect their company’s stakeholders.
Topics to be addressed:
– Discuss the growing ethical awareness in light of corporate scandals and collapses caused by maximizing shareholder value instead of adhering to ethical accounting practices. Elaborate on at least one of many companies that in the long run suffered from unethical accounting and reporting. How did other corporations and the accounting profession respond?
– Please formulate a response to the following ethical dilemma:
– The Widget Company’s executive compensation arrangement awards the CEO a bonus of $1,000,000 if net income in the current year is at least 25% higher than prior year net income. The CFO of Widget Company has just completed current year financial statements and finds that net income has only went up by 20% from prior year. The CEO tells the CFO to play with the “Bad Debt Expense” and lower it enough to raise current year net income by another 5%. Both the CEO and the CFO are aware that their estimate for the Bad Debt Expense is already far from conservative. Should the CFO lower his estimate? If he does, which ethical standard would he violate and who would be the victims of his actions? What would be the ethical steps for the CFO to take?
Your paper must be typed in Times New Roman size 12 font, 1.5 spaced and be at least 5 full pages (8.5 x 11 inch pages with 1 inch margins).
Be sure to check for spelling and grammar errors prior to submission. Be sure to cite all references using APA guidelines. Be sure to cite at least one article from an academic peer-reviewed journal.
Each group will present their findings to the class in a 10 minute presentation.
Term papers will be graded using the following rubric:
| Presents information in a clear and cohesive manner. Addresses each topic in a separate paragraph. Demonstrates a logical progression of thoughts and ideas. | 20 points |
| Demonstrates critical thinking and inspires interest in the ideas set forth in the paper. | 20 points |
| Uses evidence and examples to support statements made in the paper. | 20 points |
| Exhibits structured writing free of spelling and grammatical errors. | 10 points |
| Cites all references using APA guidelines. | 10 points |
| Presentation is professional, comprehensive and clear. | 15 points |
| Adheres to submission requirements specified above. | 5 points |
| Total | 100 points |
Attendance and Participation
Attending class is critical to master the topics covered and succeed in this course. Each lesson builds on the previous one therefore regular attendance and participation in class discussions and activities is important. A student may be absent without penalty for no more than 10% of the scheduled class meetings during the semester.
Participation in class involves taking notes, asking questions, volunteering to come up to the board, participating in classroom discussions, and engaging in team work.
Cellular phones and other electronic devices should be turned off before entering the classroom. If there is an emergency situation and you need to keep your cellular phone turned on please speak to me before we start class. All students are required to exhibit professional behavior in class. It is unprofessional and disrespectful to use electronic devices during class.
Online attendance will be evidenced by timely submissions of discussion topic responses on BlackBoard, active participation in the discussion board and timely submissions of assignments. You are required to participate in 15 discussion questions. Each post can earn you up to 3 points, for a total of 45 points overall. Participation will be worth 10% of your final grade.
To receive credit for participation in a discussion students must submit responses timely. Discussion questions will be posted each Thursday morning. Students must submit their responses before the following Wednesday night.
Discussion Post Grading Rubric
3 point discussion posts: A student can obtain full credit for a discussion post if it is submitted timely and exhibits original and critical thinking. The post must relate to the topic being discussed and add value to the discussion, fully answering the initial discussion question. Student must reply to at least 2 comments made by other students and maintain a dynamic discussion as it develops. Post is submitted without grammar and spelling errors.
2 point discussion posts: Reduced credit will be given to posts that do not meet all criteria established for a 3 point discussion. Two credits will be given to a student who posts timely responses with grammatical and spelling errors. The responses relate to the topic being discussed and are original but do not exhibit critical thinking and therefore do not inspire continued discussion. Student replies to less than 2 comments made by other students and does not participate in an active discussion.
1 point discussion posts: One credit will be given to students who post timely responses with grammatical and spelling errors. The response somewhat relates to the topic being discussed but reflects more of a summary rather than a thought invoking response and does not fully address the discussion question. The response does not inspire continued discussion. Student does not reply to the comments of other students and therefore does not participate in an active discussion.
No credit will be given to posts that are submitted after the due date.
No credit will be given to posts that are not original – please refer to the policy on Academic Integrity.
NETIQUETTE
Another important facet of our online component in this course is “manner or etiquette of communication”. This is known as Netiquette, and the main rule of netiquette is, “Think before you post”, cited from http://www.dictionary.com. Some of the critical rules are:
- Avoid offending classmates with insensitive remarks.
- Keep your “voice down” – avoid using all capital letters, as online, that is the equivalent of yelling…really loud yelling. We are engaging in discussions, not battles.
- Be clear and straightforward with your language, making an extra effort to be sensitive and courteous.
- Never hastily post something when you’re not in the best of moods; it could be quite offensive to the reader.
- Stay positive and keep your interactions with your classmates – your learning community – friendly, sincere, and polite.
- Be sensitive and aware of ethnic and cultural differences – avoid postings that may be misunderstood, considered inflammatory, and cause feelings of alienation and exclusion. · Follow the rules for correctly posting replies on the Discussion Board, on the Wiki page, etc.
- A final word: Our virtual classroom, the Discussion Board, is only for “accountable talk” explicitly related to course content, questions on content, assignment postings, if so indicated; it is not for personal issues. Any personal issues must be addressed via email for privacy purposes.
Note: All assigned chapter readings must be completed prior to the following class session. Quizzes and class activities require background knowledge of the chapter content.
Academic Integrity
The New York City College of Technology holds its students to a high level of academic integrity. Students must complete assignments and examinations with honesty and integrity. Academic dishonesty will result in an automatic failing grade for the course or even suspension from the College.
Please refer to the New York City College of Technology Academic Integrity Policy Manual: http://www.citytech.cuny.edu/aboutus/docs/policies/AI_PolicyManual.pdf
