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Syllabus

XACC/

2

9

1

Version 1

1
Syllabus

School of Business

XACC/291 Version 1

Principles of Accounting II

Copyright ©

20

11 by University of Phoenix. All rights reserved.


Course Description

This course introduces accounting concepts in a business environment. Students learn to create and apply accounting documents in making better business decisions. Other topics include plant assets, liabilities, accounting for corporations, investments, statements of cash flows, financial statement analysis, time value of money, payroll accounting, and other significant liabilities.


Policies

Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents:

· University

policies

: You must be logged into the student website to view this document.

· Instructor policies: This document is posted in the Course Materials forum.

University policies are subject to change. Be sure to read the policies at the beginning of each class. Policies may be slightly different depending on the modality in which you attend class. If you have recently changed modalities, read the policies governing your current class modality.


Course Materials

Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2010). Financial accounting (7th ed.). Hoboken, NJ: John Wiley & Sons.

All electronic materials are available on the student website.

Reading

Reading

Reading

Reading

Week One: Principle Assets

Details

Due

Points

Objectives

1.1 Prepare journal entries to account for transactions related to accounts receivable and bad debt using both percentage of sales and the percentage of receivables methods.

1.2 Distinguish between tangible and intangible assets.

Course Preparation

Read the course description and objectives.

Read the instructor’s biography and post your own.

Reading

Read Ch. 8 of Financial Accounting.

Read Ch. 9 of Financial Accounting.

Review Ch. 1 of Financial Accounting.

Review Ch. 2 of Financial Accounting.

Review Ch.

3

of Financial Accounting.

Participation/

Discussion

Participate in class discussion.

All Week

2

CheckPoint

Exercises – Week One

Resource: Ch. 9 of Financial Accounting

Complete Exercise E9-2.

Submit as either a Microsoft® Excel® or Word document.

9/01/13

3

Details

Due

Points

Objectives

3

Week Two: Principle Assets

1.3 Identify the entries associated with acquisition, disposal, and sales of plant assets.

1.4 Distinguish between revenue and capital expenditures, and the entries associated with each.

CheckPoint

Reflection

Write a 350- to 500-word summary explaining the differences between revenue expenditures and capital expenditures during a useful life and identifying any similarities. Briefly explain the entries of revenue expenditures and capital expenditures.

Format your summary consistent with APA guidelines.

9/3/2013

Individual

Exercises and Problems – Week Two

Resource: Ch. 9 of Financial Accounting

Complete Exercises E9-1, E9-7, & E9-

12

.

Complete Problem P9-7B.

Submit as a Microsoft® Excel® or Word document.

9/8/2013

12

Details

Due

Points

Objectives

Reading

Participation/

Discussion

Participate in class discussion.

All Week

2

Week Three: Liabilities

1.5 Differentiate among accounts payable, notes payable, and accrued expenses.

1.6 Prepare necessary journal entries to record the issuance of bonds, the periodic interest, and the amortization of bond premiums and discounts.

Read Ch. 10 of Financial Accounting.

Details

Due

Points

3

12

Week Four: Liabilities

Objective

1.7 Calculate depreciation and amortization expense using various methods.

Checkpoint

Recognizing Differences

Write a 350- to 500-word paper in which you differentiate between valuation, depreciation, amortization, and depletion. Is it appropriate to calculate depreciation using two different methods? Why?

Format your paper consistent with APA guidelines.

9/18/13

Individual

Exercises and Problems – Week Four

Resource: Ch. 10 of Financial Accounting

Complete Exercises E10-6, E10-8, & E10-18.

Complete Problems 10-3A & 10-6A.

Submit as a Microsoft® Excel® or Word document.

9/22/13

Details

Due

Points

Objectives

Reading

Reading

Participate in class discussion.

All Week

2

3

Week Five: Equity and Investments

1.8 Differentiate among the types of stocks issued by corporations.

Read Ch. 11 of Financial Accounting.

Read Ch. 12 of Financial Accounting.

Participation/

Discussion

CheckPoint

Stocks

Write a 250- to 350-word paper explaining why preferred stock is referred to as preferred and what some of the features added to preferred stock are that make it more attractive to investors. Would you select preferred stock or common stock as an investment? Why?

Format your paper consistent with APA guidelines.

9/29/13

Details

Due

Points

Objectives

3

12

Week Six: Equity and Investments

1.9 Calculate stocks, dividends, and stock splits.

1.10 Record treasury stock transactions.

1.11 Prepare journal entries associated with the issuance of preferred and common stocks and the declaration and payment of dividends.

CheckPoint

Stocks and Transactions

Write a response to the following scenario:

Chen, Inc. purchases 1,000 shares of its own previously issued $5 per common stock for $12,000. Assuming the shares are held in the treasury, what effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?

The treasury stock purchased in the above question was resold by Chen, Inc. for $15,000. What effect does this transaction have on (a) net income, (b) total assets, (c) total paid-in capital, and (d) total stockholders’ equity?

Format your response consistent with APA guidelines.

10/02/13

Individual

Exercises and Problems – Week Six

Resources: Ch. 11 & 12 of Financial Accounting

Complete Exercises E11-15, E12-1, & E12-2.

Complete Problem 11-6A.

Submit as a Microsoft® Excel® or Word document.

10/06/13

Details

Due

Points

Objectives

Reading

Reading

Participation/

Discussion

Participate in class discussion.

All Week

2

3

Week Seven: Financial Statement Analysis

1.12 Prepare a statement of cash flows using both direct and indirect methods.

Read Ch. 13 of Financial Accounting.

Read Ch. 14 of Financial Accounting.

CheckPoint

Cash Flow

Write a 350-word response to the following:

Why are companies required to prepare a statement of cash flows? Why is the statement of cash flows divided into three sections? What does each section tell you about the operations of a company?

Format your response consistent with APA guidelines.

10/13/13

Details

Due

Points

Objective

3

12

Week Eight: Financial Statement Analysis

1.13 Apply ratio, vertical, and horizontal analyses to financial statements.

Nongraded Activities and Preparation

Ratio Analysis Memo

Continue working on the Ratio Analysis Memo assignment due in Week Nine.

CheckPoint

Direct and Indirect Cash Flows

Write a 350-word response regarding the differences between the direct and indirect presentation of cash flows. Why does the Financial Accounting Standards Board allow both methods? Which do you prefer? Why?

Format your response consistent with APA guidelines.

10/16/13

Individual

Exercises – Week Eight

Resources: Ch. 13 & 14 of Financial Accounting

Complete Exercises E13-8 & E14-3.

Submit as a Microsoft® Excel or Word® document.

10/20/13

Details

Due

Points

Objectives

Reading

Reading

3

Week Nine: Ethics

1.14 Identify situations that might lead to unethical accounting practices.

1.15 Examine the effects of unethical behavior and the Sarbanes-Oxley Act on financial statements.

Read the “Fraud and Internal Control” section in Ch. 7 of Financial Accounting.

Read Appendix F of Financial Accounting.

Capstone Discussion Question

Respond to the capstone discussion question.

· Identify situations that might lead to unethical practices and behavior in accounting. Do you think the Sarbanes-Oxley Act has made a difference in the ethical behavior of companies regarding their financial accounting? Why or why not?

10/23/13

Final Project

Ratio Analysis Memo

Resources: Virtual Organizations

Click the Virtual Organization link on the student website to access the Virtual Organizations.

Select one of the Virtual Organizations as the basis for this assignment.

Obtain faculty approval of your selected organization before beginning the assignment.

Access the information contained in your selected organization’s balance sheet and income statement to calculate the following:

· Liquidity ratios

Current ratio

Acid-test, or quick, ratio

Receivables turnover

Inventory turnover

· Profitability ratios

Asset turnover

Profit margin

Return on assets

Return on common stockholders’ equity

· Solvency ratios

Debt to total assets

Times interest earned

Show your calculations for each ratio.

Create a horizontal and vertical analysis for the balance sheet and the income statement.

Write a 350- to 700-word memo to the CEO of your selected organization in which you discuss your findings from your ratio calculations and your horizontal and vertical analysis. In your memo, address the following questions:

· What do the liquidity, profitability, and solvency ratios reveal about the financial position of the company?

· Which users may be interested in each type of ratio?

· What does the collected data reveal about the performance and position of the company?

Format your memo consistent with APA guidelines.

10/27/13

20


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