Revised 9/09

LaGuardia Community College BTA111 - Principles of Accounting I

City University of New York 4 credits/6 hours

REQUIRED MATERIAL

Accounting Principles (Volume 1) by Weygandt, Kieso, & Kimmel, 9th edition, John
Wiley & Sons. (Includes Working Papers & Wiley Plus)

Customized Special ISBN# 9780470546130

REFERENCE MATERIAL

• Wiley Plus - online Read, Study, and Practice resources

• Dictionary of Accounting Terminology, South-Western Pub, Current edition

• Fundamental Accounting Principles, Pyle and Larson, Richard D. Irwin,

Current edition

• Accounting, Meigs, McGraw Hill, Current Edition

• Video Lectures in Accounting Lab in Room 8320

PREREQUISITE: Placement our of MAT095/CSE095/CES098

COURSE DESCRIPTION

This course introduces students to the accounting cycle. The course reviews the
fundamental concepts and techniques of recording transactions in journals, summarizing
the transactions, using adjusting and closing procedures, and preparing financial
statements and reports. It also introduces the student to valuation accounting relating to
inventory and fixed assets, internal control concepts with an emphasis on cash control,
procedures for notes payable and receivable, and payroll accounting.

Business & Technology Department: Room B327 - (718) 482-5600

Accounting Lab: Room B320

 2

COURSE OBJECTIVES

10. To familiarize the student with the basic accounting equation and the affect of
business transactions upon its elements.

11. To teach the student the nature and classification of accounts, their functions
in the recording of business transactions, and their relationship to the financial
statements.

12. To provide the student with a thorough knowledge of the flow of transactions
through journals and ledges, the preparation of a trial balance, worksheet, the
use of adjusting and closing entries, the balance sheet, the income statement,
the capital statement, and the statement of cash flows for service and
merchandising oriented businesses.

13. To state the objectives of financial reporting and identify and describe the basic
components of classified balance sheets and classified income statements.

14. To introduce the student to basic control procedures for cash receipts and
disbursements through preparation of bank reconciliation and petty cash record
keeping.

15. To expand the student's knowledge of transactions relating to receivables and

payables including interest determinations.

16. To examine the importance of merchandise inventory accounting methods, flow

and valuation control features, and effect on financial statements.

17. To explore the nature of fixed assets and depreciation methods. Introduce
accounting techniques for recording acquisitions and disposals of fixed assets.

18. To examine computational, recording and control aspects related to payrolls

and payroll taxes.

19. To introduce and the student to accounting professional in relation to standards

of business practice.

20. To introduce the student to the accounting profession in relation to standards of

business practice.

21. To familiarize students with many of the skills helpful to accountants and to give
students an opportunity to develop and practice a variety of these skills (i.e.,
speaking, writing, analyzing, calculating, research, technical competence,
computer literacy, group cooperation.
 3

PERFORMANCE OBJECTIVES

Upon completion of the course, the student should be able to:

22. Identify elements of the accounting equation and describe the changes that
take place in them as a result of any business transaction.

2. Identify in a logical sequence all the steps of the accounting cycle.

23. Analyze business transactions in both a service concern and a

merchandise concern, and make appropriate journal entries and post them
to the general ledger.

24. Prepare classified balance sheets and classified income statements. Compare
multi-step income statements with single step income statements.

25. Describe methods of controlling and recording cash transactions. Prepare bank
reconciliation and make adjusting journal entries. Maintain petty cash balance,
and make appropriate journal entries.

26. Analyze receivable, determine the allowance for doubtful accounts and make
adjusting journal entries.

27. Determine the cost of merchandise inventory using different flow methods
and identify the importance of inventory control systems.

28. Compute depreciation of fixed assets using different methods. Make appropriate
journal entries for depreciation, and sale or other disposals of fixed assets.

9. Prepare a payroll register and make appropriate journal entries.

10. Observe and/or apply accounting concepts to selected case studies.

29. Describe the role of the accounting profession in the business world and
the place of ethics in the profession.

30. Display a number of skills required by the accounting profession, (i.e., speaking,
writing, analyzing, calculating, research, technical competence, computer
literacy, group cooperation).
 4

GRADING STANDARDS

CATEGORY

Exam #1
20%
Exam #2
20%
Exam #3
20%
Final Exam
40%

100%

Exams and Quizzes will test:

• Levels of understanding

• Recall of facts, information, definitions

• Applications of accounting procedures and concepts

• Analysis of information
 5

CLAS BRIEF EXER. PROB.

EX.
HRS. CH. TOPIC QUEST. BE E A
1-8 1 Introduction to Accounting and ALL 1,2, 5,6,8 1,2,3
Business 5,6, 9,12 ,
4
8
9-17 2 Analyzing and Recording ALL 2 , 4,5, 1,2,3
Transactions 3 7, 10, 5 ,
11,12

18-25 3 Adjusting the accounts ALL 3,4, 7, 8, 4, 1,

5,6, 9, 12 2, 5
7

2 Review for Exam No. 1

6 Examination (Chaps. 1-3)
28-32
2 4 Completion of the Accounting Cycle ALL 2 , 4, 2, 3 , 4
7 2, 3 , 5 5,6,
8,9,
7,8 10

33-39 5 Accounting for Merchandising ALL 1

Operations
Purchase & Sales Transactions 2 , 2, 3 1,2,4
3
4,5,

Adjusting & Closing entries 5,6,8

40-45 6 Inventories - Periodic Inventory ALL
Methods
FIFO, LIFO, Average Cost 3,4 4, 6, 2,3,5
8,9
Lower of Cost or Market 7 8

4 Review for Exam No.2

6 Examination (Chaps. 4-6)
4
7
 6

48 51 7 Accountin Information Systems ALL - -

gSubsidiary Ledgers 5 1
Special Journals 6,8, 3
: 9
-Sales & Purchase journals 6 3

-Cash Receipts & Cash Payments 10 7 1,2

52-55 8 Fraud ALL 1

Internal Contro and Cash 4,8
l
Petty Cash 9 5 2
Bank Reconciliation 11, 7, 8 3,4
,
13 9,
10,
11
56-60 9 Receivables ALL 3 ,
4 ,
5

Allowance Method & Adjusting the 6,7 3,4 1,3,5

Accounts
10,1
Interest Computations and 9 6,7
3

Transactions

61 Review for Exam No. 3

62 Exam covering Chaps 7 - 9

 7

CLASS Brief A
HRS. CH. TOP QUEST. EX. EX. PROB.
IC
63-67 10 Fixed Assets and Intangible ALL

Acquisitions 1,2 1

Depreciation Methods:
Straight-Line, Units of 3,5,6 5 2
Activity Declining Balance
,
Disposal of Fixe Assets:
Discarded, Soldd 9,10 9 5,6
Exchange
14,15
d
68-70 11 Current Liabilities ALL 1,2,3,6 2,4
Payroll Accounti 7,8 10 4
ng
Employer's Payro Taxes 9 12,14 5
ll

Exa
71-72 Review for Final
m
Final
Exa -2 Hours
m
 I I H_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

GRADING SYSTEM

Effective Fall, 1999 LaGuardia Community College is adopting a plus and minus grading system.
LaGuardia Community College will not utilize the A+ within our grading system.

Grading : GPA
:

A-,A 90.0 -100 A =4.00

A- = 3.70

B-, B,
80.0 -89.9 B+ = 3.30
B+

B = 3.00

B- = 2.70

C-, C,
70.0 -79.9 C+ = 2.30
C+

C = 2.00
C = 1.70

D-, D, D+ 60.0 - 69.9 D+ = 1.30

D = 1.00

D- = 0.70

F Failure F = 0.0

ATTENDANCE POLICY : (Effective Fall 2005)

Attendance in class is a requirement and will be considered in the evaluation of student

performance. Instructors are required to keep an official record of student attendance. The
maximum number of unexcused absences is limited to 15% of the number of class hours.

Note: Absences are counted from the first day of class even if they are a result of late
registration or change of program.
 9

ACADEMIC DISHONESTY

Academic Dishonesty is prohibited in the City University of New York and is punishable by
penalties ranging from a grade of "F" on a given test, research paper or assignment, to an
"F" in the course, or suspension or expulsion from the College. Academic Dishonesty
includes: CHEATING, PLAGIARISM, INTERNET PLAGIARISM, FALSIFICATION OF
RECORDS AND OFFICIAL DOCUMENTS, and OBTAINING UNFAIR ADVANTAGE.

THE INCOMPLETE GRADE

The Incomplete grade may be awarded to students who have not completed all of the
required course work but for whom there is a reasonable expectation of satisfactory
completion. A student who is otherwise in good standing in a course - defined as
complying with the college attendance policy and maintaining a passing average - but
who has not completed at most two major assignments or examinations by the end of
the course may request an Incomplete grade. To be eligible, such a student must provide,
before the instructor submits grades for the course, a documented reason, satisfactory to
the instructor, for not having completed the assiqnrnent on time.
 revised 9110
LaGuardia Community College BTA1l2 - Principles of Accounting II
City of New York 4 credits/4 hours

REQUIRED MATERIAL:

31. Accounting Principles Volume 2 (12-22) by Weygandt, Kieso, & Kimmel, 9th
edition, John Wiley & Sons. (Includes Working Papers & Wiley Plus software)

32. Excel, "Offroad ATV Company - A Computerized Business Simulation.

(Only for 12 week sessions)

REFERENCE MATERIAL

• Wiley Plus - online Read, Study, and Practice resources

• Dictionary of Accounting Terminology, South Western Pub. CO. Current Edition

• Fundamental Accounting Principles. Pyle and Larson, Richard D. Irwin, Current

Edition

• Video Lectures in B320

PREREQUISITES: BTA101IBTA102 OR BTA111

CSE098/099, ENAlENG099, MAT095

COURSE DESCRIPTION

This course introduces the student to the partnership and corporate form of business
organization with topics relating to their formation, operation and dissolution. In the area of
corporation accounting, further topics explored are stock transactions, long-term liabilities
and retained earnings. Cash flows and financial statement analysis are also covered as are an
introduction to manufacturing concern accounting, related statements, and cost and revenue
relationships.

Business & Technology Department - Room B327 - (718) 482-5600

Business/Accounting Lab - Room B320
 2

COURSE OBJECTIVES

33. To familiarize the student with the accounting implications of the partnership form of
organizations. This will include the formation of a partnership, admission and withdrawal
of a partner, distribution of income or loss, dissolution and liquidation.

34. To develop recognition and facility in applying accounting theory and procedure to the
corporate form of business organization.

35. To develop knowledge of accounting theory and practice related to corporate equity
accounts, long-term liabilities and investments.

4. To introduce the elements of cost and inventories of a manufacturing concern.

36. To familiarize the student with cost and revenue relationships and reports and
analysis used by management in the evaluation and decision making process.

37. To familiarize the student with the use and importance of the statement of cash flows
and to enable students to prepare the statement of cash flows.

38. To enable the student to critically analyze financial statements from the point of view
of various interested parties, (i.e., management, investors, creditors).

39. To provide the student with an awareness of the various environments in which
accounting information is used, (i.e. internal and external reporting) and how this affects
the accounting information and its format.

9. To present students with case studies or current events involving ethical dilemmas faced
by management accountants for small group and individual discussion.

40. To familiarize students with many of the skills helpful to accountants and to give
students an opportunity to develop and practice a variety ofthese skills (i .. e. speaking,
writing, analyzing, calculating, research, technical competence, computer literacy,
group cooperation.
 3

PERFORMANCE OBJECTIVES

Upon completion of the course, the student should be able to:

41. Identify the characteristics of a partnership, make journal entries for formation of
a partnership, admission and withdrawal of a partner, distribution of income or
loss, dissolution and liquidation.

42. Analyze corporate transaction relating to:

43. contributed capital
44. dividend transaction's
45. retained earnings
46. long-term debt issuance, servicing and retirement

3. Prepare the "Stockholders Equity" section of a corporation's balance sheet.

47. Analyze corporate transactions relating to short-term and long-term investments

in stocks and bonds.

48. Describe and record the flow of cost through the accounts of a manufacturing firm
and prepare a statement of cost of goods manufactured.

49. Identify, calculate and interpret the various cost/revenue relationships and special
analytical tools used by management in their evaluation and decision making
processes.

7. Prepare a statement of cash flows and interpret the information it conveys.

8. Analyze published financial statements with moderate competency.

9. Identify the theoretical concepts underlying all the topics discussed in the course.

50. Work cooperatively in groups to solve quantitative accounting problems and/or to

discuss diverse approaches to dealing with ethical dilemmas presented.

11. Display a number of skills required by the accounting profession.

12. Distinguish between financial accounting and management accounting.

 4

GRADING AND STANDARDS

The course is assigned 100% as follows:

• Single period examinations, quizzes, term 50%

paper, assignments, and group work.

• Examination and quizzes will test levels of

understanding:
• Recall of facts, information, definitions
• Application of accounting procedures
• Analysis of information
• Final examination (Covering the entire course) 40%

• Overall evaluation of student based on

timeliness of homework assignments, class
participation and attendance. 10%
100%
 1_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ __ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

Outline

CLASS CHAP. TOPIC QUEST BRIEF EX. 'A'

HOURS EX. PROD.
1-5 12 Accounting for Partnerships All 1,3,4,5,6,7 3,4,6,8,9, 2,3,5
10, 12
6-11 13 Corporations: Organization and All 3,4,5,6,8 5,7, 1,2,3,5
Capital Stock Transaction's 9,11,13,14
BYP 13-1
BYP 13-2
12-17 14 Corporations: Dividends, All 1,2,3,4,6,9,1 2,4,8,15, 17 1
Retained Earnings, and Income 0
Reporting BYP 14-1
BYP 14-2
18 Review for Exam

19-20 Exam I

21-26 15 Long Term Liabilities All 1,2,3,4,6,7,1 3,4,5,8,9,16 1,2,6

1
. 12 BYP 15-1
BYP 15-2
27-32 17 Statement of Cash Flows All 4,5,13,14 2,4,5,6,10, 3,4,5,6
11
BYP 17-2
33 Review for Hour Exam

34-35 Exam II

36-41 18 Financial Statement Analysis All 3,4,5,9,10 3,4,5,6,7 23,,4

BYP 18-1-
2

42-44 19 Managerial Accounting' All 4,5,6,7,8 4,5,12,17 1,2,4

BYP 19-3

45-48 22 Cost Volume-Profit Analysis All 1,2,4,6,7,8 1,5,6,7,9,1 1,2,3,6

2
BYP 22-3

Final Examination
 7 6

ACADEMIC DISHONESTY
GRADING SYSTEM

Academic Dishonesty
Effective Fall, is prohibited
1999 LaGuardia in the City
Community University
College of New
is adopting York
a plus and
and is grading
minus
punishable by penalties
system. LaGuardia ranging
Community fromwill
College a grade of <IF"
not utilize onwithin
the A+ a given test, research
our grading system. paper
or assignment, to an <IF" in the course, or suspension or expulsion from the
College. Grading:
Academic Dishonesty includes: CHEATING, PLAGIARISM, INTERNET
GPA:
PLAGIARISM, FALSIFICATION OF RECORDS AND OFFICIAL DOCUMENTS, and
OBTAINING UNFAIR ADVANTAGE.
A·, A 90.0 -100 A = 4.00
A· = 3.70
THE INCOMPLETE GRADE

The Incomplete grade may be awarded to students who have not completed all of
B·, B, B+ 80.0 -89.9
the required course work but for whomB+ there =
3.30
is a reasonable expectation of
satisfactory completion. A student who is otherwise in good standing in a
B 3.00
course - defined as complying with the college = attendance policy and
maintaining a passing average - but who has not completed at most two
major assignments or examinations by B· the =
2.70
end of the course may request
an Incomplete grade. To be eligible, such a student must provide, before the
C·, C, C+submits
instructor 70.0 -79.9
grades for the course, =
C+a documented
2.30 reason, satisfactory to the
instructor, for not having completed the assignment on time.
C = 2.00
C
= 1.70
•
D·, D, D+ 60.0 -69.9 D+ = 1.30
D = 1.00

D· = 0.70

F Failure F = 0.0

ATTENDANCE POLICY: (Effective Fall 2005)

Attendance in class is a requirement and will be considered in the evaluation of student

performance. Instructors are required to keep an official record of student attendance. The
maximum number of unexcused absences is limited to 15% of the number of class hours.

Note: Absences are counted from the first day of class even if they are a result of late
registration or change of program.