Donald F. Hyatt, Associate Professor of Business
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ACCTG 151 Principles of Accounting

Outline & Syllabus

Attendance

Students are expected to be regular in attendance. Excessive absences may affect your grade negatively. In case of an absence, it is YOUR responsibility to find out what was missed and make it up promptly. Tests that you have missed must be taken within one week of a regularly scheduled test. Makeup tests are usually more difficult and are graded more stringently than regular tests.
Text

Accounting Horngreen, Harrison, Bamber, 5th edition
Other Materials: Working papers
Practice Set--Republic Lighting, Irwin
Study Guide

Evaluation

The final grade will be determined by your performance on five tests, the practice set, assigned problems, quizzes, in-class assignments, and other work assigned. Final letter grades will be based on the following percentage schedule of points earned:

Percent

Grade
100-90
A
89-80
B
79-70
C
69-60
D
59-Below
E

Homework and Other Assignments
Students are expected to have all homework assignments completed in a neat manner and proper accounting format BEFORE coming to class. Periodically a homework assignment will be collected and checked. Quizzes and in-class assignments cannot be made up. All work assigned and not turned in on the due date will have the score reduced 20%. Assignments will not be accepted when they are more than two weeks late.
Approach
Lecture-discussion. Students are expected to participate in class discussion. The exact problems to be assigned as homework will be written on the chalkboard prior to each chapter.
Course Description
Study of accounting theory and principles as applied to service and merchandise enterprises, including special journals and ledgers, adjusting and closing procedures, preparation of financial statements, promissory notes, inventory control and valuation, income and cost apportionment, payroll, and an introduction to cash control.
Withdrawals and Incompletes
An automatic "W" will be assigned to any student withdrawing from this course in the first 12 weeks. This "W" will be assigned regardless of the quality of work. After 12 weeks, a "W" will be assigned only if the course work is passing at the time of withdrawal. All other students will be assigned an "E". A grade of "I" (incomplete) will be assigned to students whose work is incomplete in a MINOR way. This should be used only for critical situations.

Probable Chapters Covered:

Chapter Topic
1
Accounting and its Environment
2
Recording Transactions
3
Measuring Business Income: The Adjusting Process
Test 1
4 Completing the Accounting Cycle
5 Merchandising and the Accounting Cycle
Test 2
6
 Accounting Information Systems (Special Journals)
7 Internal Control
11 Accounting for Payroll (only Payroll portion)
Test 3
8
 Account and Notes Receivable
11 Current Liabilities (only liability portion)
Test 4
9 Merchandise Inventory
10 Plant Assets, Intangible Assets, and Related Expenses
Test 5