Accounting Principles I

Bachelors Degree in Finance

ACT 145

Breyer State University

Instructor: Tom Sacco, MBA, BBA

SYLLABUS

COURSE OVERVIEW: Welcome to Accounting, a Bachelor Level course in the curriculum for the Degree, Bachelor of Science in Finance. I am pleased to instruct you in this course, which will be a foundational course for the remainder of your studies in the bachelor program.

This course is an introductory level beginning to the concepts of accounting. We will cover the concepts and simple accounting functions that you will need to know in your future accounting classes. This foundation will allow you to understand the complex language and acumen associated with Accounting. The course will cover Chapters 1-7 in the textbook and study guide (please see "Textbooks"). All instructional materials will be extracted from those sources.

I know you will enjoy this course. Please learn as much as you can as you progress through it, as it does lay down a solid foundation for the rest of the curriculum. It is my pleasure to have you in the course.

TIME FRAME: This is an five-semester hour course. This course is allotted ten weeks of time. You must complete all of the requirements for the course successfully by the end of the ten-week period. The first day of week one will begin the day that you register for the course, or the day that you notify me that your textbooks have arrived and you are ready to begin your studies. Please be cognizant of the time frame. It is rare that extensions of time are permitted, unless you have good justification. Upon successful completion of this course, you will be awarded five semester hours of credit.  

TEXTBOOKS: There are 2 required textbooks for this course.

Book 1: College Accounting 1-29 18th, Heintz, James A. / Parry, Robert W., Thomson Learning, 2005:

Book 2: College Accounting: Study Guide 1-16 18th, Heintz, James A. / Parry, Robert W., Thomson Learning, 2005:

You may purchase these books online from:

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» Additional Student Resources at StudyTactics

EXAMINATIONS: There are two examinations for this course, a mid-term exam and a final exam. The mid-term & final exams cover the material in the book, and any additional information or submittals sent to you.

The mid-term examination must be taken by the end of the 5th week in the course.

The final examination must be taken by the end of the 10th week in the course.

Exams are sent to you via e-mail by me. The examinations are "open book" objective type plus accounting problems to solve.. You will have one (1) day to complete your exam, once it is sent to you.

GRADING: The grading scale for this course is as follows:

90-100%    = A
80-89%      = B
70-79%      = C
Below 70% = Fail

COMMUNICATION: You are encouraged to communicate with me. I am available as a teacher, coach, and mentor to assist you in meeting your goals for this course. Primarily, communication is through email. However, I am also available for conversation by telephone if you would like. Our classroom for this course has a "chat" room. I am also very willing to meet with you one-on-one in the chat room at your request. From time to time, depending on how many students are enrolled in this course at a particular time, we will have some scheduled group chats. You will receive more detailed information at the time such chat sessions are scheduled. Please keep my email address handy so that you can contact me. If at any time during this course you change your email address, please be sure to notify me right away.

WRITTEN ASSIGNMENTS: Included in the syllabus are assignments that must be completed each week. They will come from the text and will be associated with the Chapters for study that week. Please see the assignment section the outline.  

COURSE OBJECTIVES: Upon completion of this course, you be able to do the following:

Part 1: Accounting for a Service Business

Chapter 1:

1). Describe the purpose of accounting.
2). Describe the accounting process.
3). Define the accounting elements.
4). Classify different types of businesses by activities
5). Identify career opportunities in accounting

Chapter 2:

1). Construct the accounting equation.
2). Define the accounting elements.
3). Analyze business transactions.
4). Show the effects of business transactions on the accounting equation.
5). Prepare income statement, statement of owner's equity and balance sheet.
6). Define three basic phases of accounting process.

Chapter 3:

1). Define the parts of a T account.
2). Foot and balance a T account.
3). Describe the effects of debits and credits on specific types of accounts.
4). Use T accounts to analyze a transaction.
5). Prepare a trial balance, and explain its purposes and linkages with the financial statements.

Chapter 4:

1). Describe the chart of accounts as a means of classifying financial information.
2). Describe the flow of data from source documents through the trial balance.
3). Describe and explain the purpose of source documents.
4). Journalize transactions.
5). Post to the general ledger.
6). Explain how to find and correct errors.

Chapter 5:

1). Prepare a work sheet.
2). Prepare a work sheet.
3). Describe methods of finding errors on the work sheet.
4). Journalize adjusting entries.
5). Post adjusting entries to the general ledger.
6). Depreciation methods.

Chapter 6:

1). Prepare financial statements with the aid of a work sheet.
2). Journalize and post closing entries.
3). Prepare a post-closing trial balance.
4). List and describe the steps in the accounting cycle.
5). Statement of Cash flows.

Part 2: Accounting For Cash, Payroll and Service Business

Chapter 7:

1). Describe how to open and use a checking account.
2). Prepare a bank reconciliation and related journal entries.
3). Establish and use a petty cash fund.
4). Establish a charge fund and use the cash short and over account.

Chapter 8:

1). Distinguish between employees and independent contractors.
2). Calculate employee earnings and deductions.
3). Describe and prepare payroll records.
4). Account for employee earnings and deductions.
5). Describe various payroll record-keeping methods.

Chapter 9:

1). Describe and calculate employer payroll taxes.
2). Account for employer payroll taxes expense.
3). Describe employer reporting and payment responsibilities.
4). Describe and account for workers' compensation insurance.

ABOUT YOUR INSTRUCTOR: I, Thomas J. Sacco, MBA, BBA currently teaching undergraduate level accounting courses at Breyer State University. I hold a Masters Degree in Business Administration from the University of Phoenix (AZ) and a Bachelors of Business Administration from the University of Miami (FL). I have spent several years in the business community from hotel management, real estate, facilities management and various other disciplines requiring knowledge of accounting, budgeting, and finance. I have held positions of General Manager of a manufacturing plant, Director of two hotels and Vice President of mortgage lending operations.

I am an avid sports fan, enjoy teeing it up at the golf course and other recreational activities.

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