SOUTHEAST COMMUNITY COLLEGE

COURSE SYLLABUS
BUSINESS DIVISION
Business Administration Program
2016-2017
Revision Date: June 15, 2015
Instructor Mr. Dunker
Name:
Telephone: N/A

I.

Office: N/A
Office Hours: N/A
E-mail Address:
bdunker@rcentr
al.org

CATALOG DESCRIPTION
Course Number:
ACCT1200
Course Title:
Principles of Accounting I
Prerequisite(s):
Previous accounting coursework is strongly
recommended (i.e. high
school accounting or OFFT1310 Office Accounting)
Catalog Description: This course is designed to provide introductory
knowledge of accounting principles, concepts, and
practices. Included topics are the balance sheet,
the income statement, the statement of owners
equity, the statement of cash flows, worksheets,
journals, ledgers, accruals, adjusting and closing
entries, internal controls, inventories, fixed and
intangible assets, liabilities, equity, and financial
statement analysis. This course provides a
foundation for more advanced work in the fields of
accounting and business.
Credit Hours:
4.5
Class Hours:
45
Lab Hours:
0
Total Contact Hours: 45

II.

COURSE OBJECTIVES: Course will teach students to

A. Understand the role of accounting in business
B. Summarize and apply basic accounting terms, concepts and principles
C. Complete a series of transactions through the accounting cycle
D. Analyze, record and report transactions for service and merchandising
businesses
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E. Record and report transactions for a corporation

F. Prepare and analyze financial statements
III.

STUDENT LEARNING OUTCOMES AND GENERAL EDUCATION

LEARNING OUTCOMES
A. STUDENT LEARNING OUTCOMES: Students will be able to
1. Demonstrate an understanding of accounting and business
2. Prepare journal entries
3. Prepare a trial balance, adjusting entries, and financial statements
4. Complete the closing process in the accounting cycle
5. Evaluate and companys management of receivables
6. Evaluate a companys management of inventories
7. Produce an income statement summarizing operating activities,
other revenue and expenses, extraordinary items, and earning per
share
8. Use generally accepted accounting principles to accounting for
investments in tangible and intangible operating assets
9. Apply generally accepted accounting principles fundamental to the
accounting for long-term debt finance arrangements (i.e. long-term
liabilities)
10.Employ fundamental principles generally acceptable to the
accounting for equity financing transactions
B. GENERAL EDUCATION LEARNING OUTCOME(S)
GELO 3: Critical Thinking
The student will demonstrate the ability to design, implement,
evaluate, and reflect on a strategy to answer an open-ended question
or achieve a specified outcome.
GELO 6: Quantitative Reasoning
The student will demonstrate the ability to reason and solve
quantitative problems using mathematical applications such as
formulas, data sets, graphs, tables, etc.

IV.

CONTENT/TOPICAL OUTLINE
A. Introduction to Accounting and Business
1. The nature of a business
2. The role of accounting in business
3. Business ethics and ethical conduct
4. The profession of accounting
5. Accounting principles and practice
6. GAAP and IFRS
7. The accounting equation and elements of equation
8. Business transactions
9. Financial statements
B. Analyzing and Recording Transactions
1. Characteristics of an account
2. Chart of accounts
3. Normal balances of accounts

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4. Rules of debit and credit

5. Analyzing and recording transactions
6. Preparing a trial balance
7. The usefulness and limitations of a trial balance
8. Discovering and correcting errors in recording transactions
C. The Matching Concept and the Adjusting Process
1. The matching concept
2. Accrual basis of accounting
3. The adjusting process and adjusting entries
D. Completing the Accounting Cycle
1. Preparing a worksheet
2. Preparing financial statements from a worksheet
3. The closing process
4. Adjusting and closing entries
5. Post-closing trial balance
6. The fiscal year and the natural business year
E. Accounting for a Merchandising Business Perpetual and Periodic
Inventory Systems
1. Merchandising business compared to service businesses
2. Perpetual and periodic inventory systems
3. Merchandise transactions
4. Chart of accounts for a merchandising business
5. Financial statements for a merchandising business
6. Adjusting and closing entries for a merchandising business
F. Cash
1. The nature of cash
2. Internal control of cash
3. The nature of a bank account and its use in controlling cash
4. Bank reconciliation
5. Presentation of cash on the balance sheet
G. Receivables
1. Classifications of receivables
2. Internal control of receivables
3. Accounting for uncollectible accounts
4. The nature and characteristic of notes receivable
5. Accounting for notes receivable
6. Presentation of receivables on the balance sheet
H. Inventories
1. Internal control of inventories
2. The effect of inventory errors on the financial statements
3. Inventory cost flow assumptions
4. Inventory costing methods using a perpetual inventory system and
a periodic inventory system
5. Valuation of inventory at other than cost
6. Presentation of merchandise inventory on the balance sheet
7. Estimating inventory costs
I. Fixed Assets and Intangible Assets
1. Nature of fixed assets
2. Accounting for depreciation
3. Capital expenditures and revenue expenditures
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4.
5.
6.
7.
8.
9.

Disposal of fixed assets

Leasing of fixed assets
Internal controls of fixed assets
Natural resources
Intangible assets
Presentation of fixed assets and intangible assets on the balance
sheet
J. Liabilities
1. The nature of liabilities
2. Short-term notes payable
3. Contingent liabilities
4. Bonds payable and other long-term liabilities
5. Presentation of liabilities on the balance sheet
K. Stockholders Equity
1. The nature of a corporation
2. Sources of paid-in capital
3. Issuing stock
4. Other topics in corporate accounting
L. Statement of Cash Flows
1. Purpose of statement of cash flows
2. Reporting cash flows
M. Financial Statement Analysis
1. Basic ratios and analysis (throughout the course)
V.

INSTRUCTIONAL MATERIALS
Required Text(s): Wild, John J., Ken W. Shaw, Barbara Chiappetta.
Fundamental Accounting Principles, 21st Edition. New York, New York:
McGraw-Hill/Irwin, 2013.
ISBN: 9781259240737

VI.

METHODS OF PRESENTATION/INSTRUCTION
Methods of presentation typically include a combination of the following:
A. Lecture
B. Discussion
C. Application
D. Demonstration

VII.

METHODS OF EVALUATION
Methods of evaluation typically include a combination of the following:
A. Quizzes
B. Objective Exams
C. Comprehensive homework problems/Group Work
D. In-class assignments/homework
E. The final exam will be weighted at 25% of the students final grade
SCC STANDARD GRADING SCALE POLICY:

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A+
A
B+
B
VIII.

95-100
90-94
85-89
80-84

C
D+
D
F

C+
75-79
70-74
65-69
60-64
Below 60

SPECIFIC COURSE REQUIREMENTS

A. Course Prerequisite: Previous accounting course work recommended
(i.e. OFFT1310)
B. Grade Requirement: C or better
Business Classroom Expectations

1. Students will follow the procedures and policies described in the Parent/Student
Handbook and follow guidelines that assure them being safe, respectful, and responsible.
For maximum educational benefit, students may not leave to go to the restroom, get a
drink of water, etc. during instruction time. Students may be allowed out of the room
only during work time at the discretion of the teacher.
2. Incomplete or late work is not permitted. Incomplete or late assignments will receive a
grade of 70% or below if turned in the day after the assignment has been assigned. If the
assignment is not turned in the next day it will be 0 in the gradebook. This policy is
outlined in the Student-Parent Handbook.
3. No candy, gum, pop, or food is allowed in the classroom. Water will be permitted in
clear plastic bottles only.
4. Plagiarism and cheating on tests, quizzes, or daily homework is not allowed.
5. Talking between students is not allowed. Calling out answers or making comments
without permission is not permitted. Excessive talking and repeated talking will result in
a reduction of participation/effort grade and if necessary, a detention. Profanity is not
allowed.
6. Students are responsible for any damage caused to textbooks while in their possession,
fines may be assessed.
7. Students will show their courtesy to the janitor by keeping the room clean. Students
should exhibit responsible behavior at all times.
8. Students will demonstrate good work habits: promptness, time management skills, and
respect toward peers, and appropriate behavior.

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SOUTHEAST COMMUNITY COLLEGE

SYLLABUS STATEMENTS
Academic Integrity
Academic integrity is one of the basic principles of a college community. SCC
encourages and expects the highest standards of academic honesty from all
students. Please note that cheating, plagiarism, or other forms of academic
dishonesty are monitored and subject to disciplinary action.
Americans with Disabilities Act - Reasonable Accommodations
If you have a disabling condition that may substantially limit your ability to
participate in this class, please contact the Dean of Student Services for additional
information and assistance. The campus telephone numbers are: Beatrice (402)
228-8220, Lincoln (402) 437-2619, Milford (402) 761-8270
Electronic Devices
Instructors may allow the use of cell phones and personal electronic devices in the
classroom or lab for instructional purposes to help meet course objectives or
participation in course activities. The use of cell phones or other electronic devices
for personal use during class time may not be allowed. Each instructor can
identify when the use of cell phones or personal electronic devices will be allowed.
Failure to follow the instructors directions may lead to formal disciplinary action.
Firearms/Weapons Strictly Prohibited
SCC policy prohibits the possession of firearms, weapons, or fireworks on College
property or at any College-sponsored event. Effective January 1, 2007, Nebraska
State Statue 28-1202 makes it unlawful to carry a concealed handgun into a
meeting of the governing body of a political subdivision, or collegiate athletic event;
school, school grounds, school-owned vehicle, or school-sponsored activity or
athletic event. These prohibitions apply to EVERYONE (employees, students,
invitees, and visitors) and are enforceable EVERYWHERE (all college property and all
college-related events.) Violations of the prohibitions will result in disciplinary
and/or law enforcement action.
Hazardous Chemicals Right to Know Statement
Some courses offered at Southeast Community College use hazardous chemicals as
part of their curriculum. If the course you are attending requires you to use or
exposes you to hazardous chemicals, your instructor will provide you with
information and instruction about those chemicals. That information will include:
requirements regarding personal protective equipment, methods of safe handling,
use, clean up, first aid measures, and etc.
Statement of Equal Opportunity
The policy of Southeast Community College is to provide equal opportunity and
nondiscrimination in all admission, attendance, and employment matters to all
persons without regard to race, color, religion, sex, age, marital status, national
origin, ancestry, veterans status, sexual orientation, disability, or other factors
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prohibited by law or College policy. Inquiries concerning the application of

Southeast Community Colleges policies on equal opportunity and nondiscrimination
should be directed to the Vice President of Affirmative Action, Equity and Diversity,
301 S. 68th St. Place, Lincoln, NE 68510-2449,
(402) 323-3412 or e-mail; jsoto@southeast.edu.
Syllabus statements revised
February 20151

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