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YORK COLLEGE City University of New York Intermediate Accounting I Fall 2012 Section CD, Code 0020 Mon & Wed 10:00AM 11:50AM Room AC 2C05

Professor: Stephanie Thomas, M.S. Email: sthomas24@york.cuny.edu Mon & Wed 10:00AM 11:50AM COURSE PREREQUISITE: Successful completion of Accounting 102 REQUIRED TEXT: Intermediate Accounting Author: Kieso, Weygandt, Warfield Edition: 14th. ISBN# 978-0-470-91783-1 RECOMMENDED SUPPLEMENT Financial Accounting Exam Questions and explanations Edition: 17th Author: Irvin N. Gleim - GLEIM.COM ISBN#: 978-1-58194-176-0 COURSE DESCRIPTION: To provide students with an understanding of current accounting concepts and standards that underlies reporting income and financial position. Topics include, but are not limited to cash; receivables; inventories; plant assets; depreciation; and pronouncements of official bodies. LEARNING OBJECTIVES: Upon successful completion of this course, students will be able to: 1. Understand the Conceptual Framework and how it governs all transactions and financial statements. 2. Prepare journal entries for all transactions and adjustments. 3. Reconcile for cash and accrual bookkeeping. 4. Prepare income statements for routine and non-recurring activities according to FASB pronouncements. 5. Account for cash and receivables according to established accounting principles. 6. account for inventory using various methods (including estimates) and adjust for errors 7. compute the cost of long lived assets and account for their disposals 8. Work effectively as a member of a team to complete tasks and resolve accounting problems. POLICIES AND PROCEDURES: Chapter Preview: Students are required to read and comprehend assigned chapters of the textbook before class sessions. Students are encouraged to participate intelligently in class discussions and ask questions. Students are also required to be prepared for quizzes.

ACC 201 Intermediate Accounting I

Prof. Thomas Fall 2012

Attendance: Attendance is expected for this course so that students can participate in classroom and online discussions. Attend classes punctually and regularly. Attendance is mandatory absence from class does not automatically excuse any student from class assignments or other academic work designed as part of the course. In addition, it is the students responsibility for catching up on missed class work and assignments. Participation is an important element in the learning process (good preparation, questions, and comments should result in full credit for this element of your grade). Class participation is included in your final grade; therefore, unexcused absences will result in a reduction of your grade for this course. Homework: It is expected that you attempt to answer all of the questions, exercises, and problems at the end of each chapter and be prepared to discuss them in class. Selected assignments will be collected and also discussed in class; therefore, students should be prepared to discuss questions, and problems assigned for each class session. If you have difficulty completing an assignment, it is your responsibility to post a question on Blackboard. You can also contact the instructor, a classmate, or the tutoring center. It is highly recommended that students form study groups. Class Policy: You must not be disruptive in any way. Students should not be walking in and out of class excessively. Please respect your peers and also the opinions of others in a discussion. If you carry an electronic device, you should either turn it off or put it on a non-audible setting so that it wont cause distractions during the class. You are required to: bring your textbook to class since we will be using it each time that we meet. have and bring a calculator to class; the use of calculator functions in cell phones is not allowed. Set up an account on Blackboard and ensure that the email address provided is correct Check homework solutions posted on Blackboard (Bb) EXAMS: There will be two in class exams and a cumulative final. No make-up exam will be given without prior approval, a valid excuse and adequate documentation.

GRADING POLICY: Final grades will adhere to the grading policies described in the College bulletin. The grades will be calculated as follows: Components of Grade 1st exam 2nd exam Class Assignment Cumulative Final Quizzes Homework Assignments Participation/Discussion Percentage 10% 15% 15% 30% 10% 10% 10%

ACC 201 Intermediate Accounting I

Prof. Thomas Fall 2012

The thresholds for letter grades are set as follows: A+ A AB+ B BC+ C CD+ D F 97% 93% 90% 87% 83% 80% 77% 73% 70% 67% 60% Below 60%

OFFICE HOURS: Students can contact me by email to schedule an appointment.

ACADEMIC DISHONESTY In accordance with the York College Student Handbook, an instructor can levy academic penalties for academic dishonesty. They are as follows: Minor infraction: Reduced or failing grade for the assignment in which the offense occurred. Serious of repeat infraction: Failing grade for the course (Administration F). Plagiarism on the term paper or cheating on an exam is considered serious infractions. All assignments for this class must represent new work developed specifically for this class. Reusing assignments for papers from previous classes will be considered equivalent to plagiarism. You may include references to material you have written for other classes, provided they are cited properly. In most cases, it should be clear what constitutes academic dishonesty. In other cases, especially when students work together, it may be less obvious. Please follow these guidelines: If you use external source for information, cite it: If assigned team projects, follow the specific instructions for that project. Team projects may allow for a closer level of collaboration than usually permitted. Unless directed otherwise, when you collaborate with another student, you are allowed (and in fact encouraged) to tutor each together, communicate ideas and questions with each other. However, you are not allowed to solve a problem for another student or copy a solution from another student; copying between students constitutes a serious infraction.

ACC 201 Intermediate Accounting I STUDENTS WITH DISABILITIES

Prof. Thomas Fall 2012

If you anticipate the need for reasonable accommodations to meet the requirements of this course, you should contact the Program/ Services for Students with Disabilities Office (AC-1G03) and request to be provided with official notification of your accommodation needs as soon as possible. Please feel free to discuss with me necessary accommodations. My obligation is to accommodate all students; however, I need to be notified of the nature of accommodations required. NOTE: Assignments may be added or deleted as appropriate. It is the student's obligation to find out the current assignment if he or she is absent. Course Outline Chapter 1 2 3 Topic Financial Accounting & Standards Conceptual Framework Accounting Information System ** EXAM # 1 ** 4 Income Stmt & Related Information Ex 4-1, 2, and 4 (Condensed only) Ex 11, 12, 14, P4-4 Ex 3, 6, 16 Ex 5, P 2, 6, Ex 2, 4, 6, 9, CA2-10 Ex 8, 9, 14, 18, 19, 20 P6 (only journal entries) Ex=Exercise, CA=Concepts for Analysis, P=Problem Assignments

5 23

Balance Sheet & Stmt of Cash Flows Statement of Cash Flows continued ** EXAM # 2 **

Cash & Receivables

Ex 2, 7, 12, 13, 14 (handed in) P 2, 6 Case 1, Ex 2, 5, 7, 12, 18, 23, 25, 26 P 1, 3 Ex 2, 6, 7, 11 find (cost %) 14, 20, P 5 Ex 2, 3, 5, 6, 7, 8, 13, 15, 17, 18, 19

Valuation of Inventories

9 10

Inventories continued Acquisition & Disposition of Fixed Assets Cumulative Review **FINAL EXAM ** (Cumulative)