Spring 2016 Syllabi

ACC 216-71

ACC 216-71

by Patrick Walsh -
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Financial Accounting Concepts 



Spring 2016


Professor:  Patrick Walsh                                                        JCC Phone:  (419) 351-7609

E-Mail:  pwalsh3124@hotmail.com                                                              




Course Description:

This course is designed for the non-accounting supervisor/ manager who must have an understanding of financial and managerial accounting as it is used in decision making. Learn about annual reports, financial statements, balance sheet accounts and accounting transactions.

Focus on how accounting information is used in decision making and not on the mechanics behind that accounting information. This is an introductory accounting course required for some

BUA, CIS and HOC programs. Students should consider their academic program and select either ACC 216 or ACC 231 for their introductory accounting course. Prerequisites: ENG 085*,

ENG 090* and MTH 098*


Course Objectives:

The student will:

1. Identify the users of accounting information and their individual needs.

2. Read and understand the information communicated on a balance sheet, income statement, statement of retained earnings and statement of cash flows.

3. Understand the qualitative characteristics that make financial reporting useful.

4. Compute and interpret financial ratios that focus on liquidity, solvency, efficiency and profitability.

5. Understand the accounting cycle as it relates to the preparation of financial statements.

6. Distinguish between cash basis and accrual basis accounting.

7. Relate basic accounting concepts to the preparation of the financial statements.

8. Evaluate a company’s internal controls and identify potential weaknesses.

9. Communicate both orally and in writing in an accounting context.

10. Analyze and develop multiple solutions for ethical dilemmas faced in today’s business environment.


Required Text Materials: 

Using Financial Accounting Information, the Alternative to Debits and Credits, Porter and Norton, 8th edition

Accounting for Managers Bergevin / Macqueen


Other Required Materials:  simple calculator, pencils, flash drive and Internet access


Class Meeting:  6:00 to 9:40 PM, Mondays


Office Hours:  By appointment or after class.






Methods to achieve objectives:  discussion, lecture, mutual explanation, team problem solving, group practice work, individual practice with homework, tests, special projects and practical application of the text

Tests:  There will be 3 chapter tests throughout the semester covering 2 to 3 chapters each.  We will review on the Wednesday before we take our tests.  Plan ahead to attend all test dates.


Attendance & Participation:  Your regular attendance and active involvement in our class will directly correlate to how well you do with this class.  If you attend every class, work on all class activities and complete all assignments, you will do very well with ACC 216.


Emergencies:  If you find yourself in an emergency situation on an exam date, contact Pat by phone or e-mail ASAP.  When you return to class, you will be required to provide documentation of your absence such as a funeral notice, hospital admit slip, police ticket, etc.  We will discuss your situation and work out a plan together.


Academic Honesty:  If you cheat in this class, you will either A) fail the assignment or B) fail the course.  Cheating in an accounting class takes the form of using or copying another student’s work and using it as your own.  All assignments related to this class must be your own work.  The JCC Catalog defines academic honesty as “ …the ethical behavior that includes (students’) producing their own work and not representing others’ work as their own…” 


Cell Phones:  Please make sure to turn off your cell phone ringer before joining our class.




JCC Associate Degree Outcomes (ADO’s):  The Board of Trustees of Jackson Community College has determined that all JCC graduates should develop or enhance certain essential skills while enrolled in the college.  ADO #3 and #8 will be addressed in this course.  ADO #3 represents student understanding of computational skills and mathematical reasoning, and ADO #8 represents student understanding of personal and ethical responsibility.


JCC Technology:  If you have trouble with your JCC login or other computer issues, please contact the JCC Solution Center at 517-796-8539.  When e-mailing your instructor, please include your first and last name and put “ACC 231” in the subject line.  Always save your work and have a back-up plan.  Please ask questions and get help early with any concerns you may have including computer problems. 


JCC Center for Student Success:  Students requiring special assistance (including those affected by the Americans with Disabilities Act) should contact the Center for Student Success at 517-787-0800. This is the first step in acquiring the appropriate accommodations to facilitate your learning.


Note:  This syllabus is not a contract:  it is a plan for the course.  Each course and each group of students is unique.  We may do more or less work than is outlined above.  Total points in the course may be altered to reflect the dynamics of our class.



Semester Schedule for ACC 216


Chapter Topic:

Course Assignments:

During Week 1 through Week 6, we will be working with the Accounting Basics (AB) textbook.

Week 1

CH 1:  Evaluating Transactions (the basics)

  1. Read CH 1 and 2 AB and prepare a 1 pg. summary of both chapters
  2. Complete all CH 1 KCA exercises with Excel
  3. Complete the CH 1 Quiz in JetNet


Week 2


CH 2:  The Accounting Cycle (journal entries and Trial Balance)


  1. Complete all CH 2 KCA exercises with Excel
  1. Complete the CH 2 Quiz in JetNet

Week 3

CH 3:  Journal Entries & T-Accounts (more journal entries and posting)


  1. Read CH 3 AB and prepare a 1 pg. summary
  2. Complete all CH 3 KCA exercises with Excel
  1. Complete the CH 3 Quiz in JetNet

Week 4

Test 1



        Chapters 1,2&3.

Week 5

CH 4:  Adjusting Entries (month end adjustments)


  1. Read CH 4 AB and prepare a 1 pg. summary
  2. Complete all CH 4 KCA exercises with Excel

Complete the CH 4 Quiz in JetNet

Week 6

CH 5:  Financial Statements & Closing Entries (more month end and reporting)

  1. Read CH 5 AB and prepare a 1 pg. summary
  2. Complete all CH 5 KCA exercises with Excel
  3. Complete the CH 5 Quiz in JetNet

Week 7

Test 2

Chapters 4 & 5

Week 8

CH 6:  Computerized Systems, Cash & Payroll (internal controls, bank recs, payroll calcs)

  1. Read CH 6 AB and prepare a 1 pg. summary
  2. Complete all CH 6 KCA exercises with Excel
  3. Complete the CH 6 Quiz in JetNet

Week 9

CH 8:  Comprehensive Exercise (complete one month accounting preparation, reporting and analysis)

  1. Complete the CH 8 Comprehensive Exercise


       (exclude all CH 7 ratio and analysis work)


During Week 10 through Week 15, we will be working with the Accounting For Managers (AFM) textbook.

Week 10

CH 1:  Accounting Information

Case 1-1 = Fraud!

  1. CH 1 Crossword Puzzle for extra credit
  2. Read CH 1 and prepare a 1 pg. summary
  3. Case 1-1


Week 11

CH 2:  Accounting Disclosures

Case 2-1 Johannes Skilling CEO!


  1. CH 2 Crossword Puzzle for extra credit
  2. Read CH 2 AFM and prepare a 1 pg. summary
  3. Case 2-1

Week 12

CH 3:  Auditing and Taxation

Case 3-1 = General Motors audit committee

  1. CH 3 Crossword Puzzle for extra credit
  2. Read CH 3 AFM and prepare a 1 pg. summary
  3. Case 3-1

Week 13

CH 4 Debt and Equity Financing


Watch:  Enron:  The Smartest Guys in the Room


  1. CH 4 Crossword Puzzle for extra credit
  2. Read CH 4 AFM and prepare a 1 pg. summary
  3. Complete Enron reflection questions, see Jet Net

Week 14

CH 5:  Cost Considerations

Case 3-1 = Activity Based Costing

1. CH 5 Crossword Puzzle for extra credit

2. Read CH 5 AFM and prepare a 1 pg. summary

3. Case 5-1


Week 15

Final course project:  My Accounting Handbook

1.       Complete and present the final course project

2.       Final Exam