ACCT 111 Principles of Accounting IUpon completion of this course, the student will comprehensive understanding of basic accounting theory and practice covering the accounting cycle. With emphasis on accounting concepts and principles, the student will perform the fundamentals of recording, summarizing and analyzing the transactions of a business. The student will will be involved in the preparation and interpretation of woking papers and financial statements. The fundamentals of accounting for payroll and assets (cash, notes, accounts receivable, inventories, plant and equipment, and intangibles) will be performed by the student. (3 hours weekly)
Credits: 3
Prerequisites: None. Recommended: Successful completion of a college level algebra course (year of completion not important );
OR –
Successful completion of a college level English literature or Speech course or equivalent (year of completion not important);
OR –
Experience in accounting or closely related experience with a limit of 6 credits for the semester.
Fees: This course has fees totaling $30.00.
Instructor: Larry Frydrych
Email: lfrydrych@howardcc.edu
Overall Course Objectives | Major Course Topics | Course Format | Orientation | Course Requirements | Materials | Exams
Overall Course Objectives Once you have completed this course you will be able to:
Become acquainted with the nature and purpose of accounting and its function in business.
Develop a sound understanding of the basic accounting concepts, principles, and procedures.
Become aware of accounting as an orderly means of sifting, classifying, and presenting useful information from a mass of data.
Recognize accounting as the basic language of business used in measuring the results of business effort.
Appreciate the values of accounting to management, investor, government, and the general public.
Course Orientation
In this accounting principles course, you will study theory and procedure as applied to the various specializations in accounting. A preview of the whole area of accounting will be presented. Through a study of accounting concepts, principles and procedures, you will acquire the fundamental skills needed for a career in the field of business and, also, the knowledge to continue the study of accounting at an advanced level.
Methods of teaching primarily consist of power point lectures, demonstrations, practical exercises and e-mail discussions. Instruction will be supplemented and complemented through the use of various visual aids and references. Assignments, consisting of study of the text and solving of questions, exercises and problems are regularly given. The course is conducted to explain the concepts presented in the text and to apply the concepts to problems. It is strongly recommended that you master as many of the class exercises as possible. In this course, much time will be spent on problem solving, which includes working and analyzing accounting problems.
Howard Community College is committed to providing a high-quality learning experience that results in a growth in knowledge, attitudes and skills necessary to function successfully as a transfer student, in a career, and as a citizen. To accomplish this goal, we maintain high academic standards and expect students to accept responsibility for their individual growth by attending class, and completing all homework and other assignments, participating in class activities and preparing for tests.
We take seriously our responsibility to maintain high-quality programs and will periodically ask you to participate in assessment activities to determine whether our students are attaining the knowledge, attitudes, and skill appropriate to various courses and programs. The assessment activities may take many different forms such as surveys, standardized or faculty-developed tests, discussion groups or portfolio evaluations. We ask that you take these activities seriously so that we can obtain valid data to use for continuous improvement of HCC’s courses and programs.
Academic honesty, as defined in the Student Handbook, is required of all students.
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Uses of Accounting Information and the Financial Process
Measuring and Recording Business Transactions
Business Income and Adjusting Entries
Completing the Accounting Cycle
Accounting for Merchandising Operations
Accounting Concepts and Classified Financial Statements
Accounting Systems and Special Purpose Journals
Internal Control (Cash)
Short Term Liquid Assets
Inventories
Long Term Assets
Current Liabilities and Payroll Accounting
- Accounting for Partnerships
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Course Format The course format includes but is not limited to the following:
- Is not self-paced.
- Does not require on-campus meetings, but on-campus testing (or its equivalent) are required.
- Does not require real-time chats.
- The communication in the class will take place through web-ct emails, online bulletin board discussions and a weekly chat.
- Accounting is sequential, if you miss assignments and do not "catch up" before the next assignment, you will not understand the new material or be prepared to participate in discussions or quizzes on future assignments.
- The course format allows for problems getting started. The first quiz requires the student to review the course format on the web-site and provide feedback to the instructor including questions and problems they are experiencing.
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This course has a face-to-face orientation. Check the list of scheduled orientations for the date, time, and location. Please check my email message to you for more information about the orientation and the option to participate in an online orientation.
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Course Requirements - Review the “What you should know before you register” section of the Distance Learning Homepage.
- After registration you will need to know your Student ID for this course.
- Provide an e-mail address that you are willing to share with other students. (Need help opening a free e-mail account?)
- You are expected to work with your teammates, and collaborate with classmates.
- Ability to download various programs from the Internet (i.e., Adobe Acrobat Reader), OR a willingness to meet and work with a fellow student who has this expertise, OR an ability to utilize personal computers in the Computer Lab for online access to course materials and email, and computers in the Library for research.
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- Needles/Powers/Anderson. Principles of Accounting, Houghton Mifflin Company, 2002.
- Principles of Accounting 111 - Lecture notes, class exercises, and their accompanying power point presentation disc which is sold separately in the Howard Community College Bookstore.
Technical Requirements and Plug-Ins: Review the Technical Requirements link above. The following plug-ins are required for this course:
- Internet Explorer
- PowerPoint Viewer, if you don’t have the full version of Microsoft PowerPoint
- Word Viewer, if you don’t have the full version of Microsoft Word
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Exams At least four exams and a cumulative final exam will be given.
