ACC205
Principles of Accounting I
Course Guide
This course is an introduction to the principles and procedures of general financial accounting with an
emphasis on reporting to individuals outside the organization, and the development of accounting reports on an
accrual basis.
ACC205 Principles of Accounting I
COURSE GUIDE
Table of Contents
COURSE AT A GLANCE …………………………………………………………………………………………………………………………………………………. 4
COURSE DESCRIPTION ………………………………………………………………………………………………………………………………………………………. 4
COURSE DESIGN ………………………………………………………………………………………………………………………………………………………………. 4
PREREQUISITES ……………………………………………………………………………………………………………………………………………………………….. 4
COURSE LEARNING OUTCOMES …………………………………………………………………………………………………………………………………………. 4
COURSE MATERIALS …………………………………………………………………………………………………………………………………………………….. 5
REQUIRED TEXT ………………………………………………………………………………………………………………………………………………………………. 5
RECOMMENDED RESOURCES ……………………………………………………………………………………………………………………………………………… 5
Article ………………………………………………………………………………………………………………………………………………………………………… 7
Multimedia …………………………………………………………………………………………………………………………………………………………………. 7
Websites …………………………………………………………………………………………………………………………………………………………………….. 8
COURSE GRADING…………………………………………………………………………………………………………………………………………………………. 9
DISCUSSIONS …………………………………………………………………………………………………………………………………………………………………… 9
QUIZZES …………………………………………………………………………………………………………………………………………………………………………. 9
ASSIGNMENTS …………………………………………………………………………………………………………………………………………………………………. 9
FINAL PAPER …………………………………………………………………………………………………………………………………………………………………. 10
GRADING PERCENT BREAKDOWN …………………………………………………………………………………………………………………………………….. 10
WEEK ONE ……………………………………………………………………………………………………………………………………………………………………. 11
COURSE CONTENT ………………………………………………………………………………………………………………………………………………………….. 11
Overview ………………………………………………………………………………………………………………………………………………………………….. 11
Weekly Learning Outcomes …………………………………………………………………………………………………………………………………………. 11
Introduction ………………………………………………………………………………………………………………………………………………………………. 11
Required Resources ……………………………………………………………………………………………………………………………………………………. 12
Recommended Resources ……………………………………………………………………………………………………………………………………………. 13
Discussions……………………………………………………………………………………………………………………………………………………………….. 13
Quizzes …………………………………………………………………………………………………………………………………………………………………….. 14
Assignment ……………………………………………………………………………………………………………………………………………………………….. 14
WEEK TWO …………………………………………………………………………………………………………………………………………………………………… 15
COURSE CONTENT ………………………………………………………………………………………………………………………………………………………….. 15
Overview ………………………………………………………………………………………………………………………………………………………………….. 15
Weekly Learning Outcomes …………………………………………………………………………………………………………………………………………. 15
Introduction ………………………………………………………………………………………………………………………………………………………………. 15
Required Resource …………………………………………………………………………………………………………………………………………………….. 16
Recommended Resources ……………………………………………………………………………………………………………………………………………. 17
Discussions……………………………………………………………………………………………………………………………………………………………….. 17
Quizzes …………………………………………………………………………………………………………………………………………………………………….. 18
Assignment ……………………………………………………………………………………………………………………………………………………………….. 18
WEEK THREE ……………………………………………………………………………………………………………………………………………………………….. 20
COURSE CONTENT ………………………………………………………………………………………………………………………………………………………….. 20
Overview ………………………………………………………………………………………………………………………………………………………………….. 20
Weekly Learning Outcomes …………………………………………………………………………………………………………………………………………. 20
Introduction ………………………………………………………………………………………………………………………………………………………………. 20
Required Resource …………………………………………………………………………………………………………………………………………………….. 21
Recommended Resources ……………………………………………………………………………………………………………………………………………. 22
Discussions……………………………………………………………………………………………………………………………………………………………….. 22
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ACC205 Principles of Accounting I
COURSE GUIDE
Quizzes …………………………………………………………………………………………………………………………………………………………………….. 23
Assignment ……………………………………………………………………………………………………………………………………………………………….. 23
WEEK FOUR ………………………………………………………………………………………………………………………………………………………………….. 25
COURSE CONTENT ………………………………………………………………………………………………………………………………………………………….. 25
Overview ………………………………………………………………………………………………………………………………………………………………….. 25
Weekly Learning Outcomes …………………………………………………………………………………………………………………………………………. 25
Introduction ………………………………………………………………………………………………………………………………………………………………. 25
Required Resource …………………………………………………………………………………………………………………………………………………….. 25
Recommended Resources ……………………………………………………………………………………………………………………………………………. 26
Discussions……………………………………………………………………………………………………………………………………………………………….. 26
Quizzes …………………………………………………………………………………………………………………………………………………………………….. 27
Assignment ……………………………………………………………………………………………………………………………………………………………….. 27
WEEK FIVE …………………………………………………………………………………………………………………………………………………………………… 29
COURSE CONTENT ………………………………………………………………………………………………………………………………………………………….. 29
Overview ………………………………………………………………………………………………………………………………………………………………….. 29
Weekly Learning Outcomes …………………………………………………………………………………………………………………………………………. 29
Introduction ………………………………………………………………………………………………………………………………………………………………. 29
Required Resources ……………………………………………………………………………………………………………………………………………………. 29
Recommended Resource……………………………………………………………………………………………………………………………………………… 31
Discussions……………………………………………………………………………………………………………………………………………………………….. 31
Quizzes …………………………………………………………………………………………………………………………………………………………………….. 32
Assignments ………………………………………………………………………………………………………………………………………………………………. 32
COURSE MAP ………………………………………………………………………………………………………………………………………………………………… 34
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ACC205 Principles of Accounting I
COURSE GUIDE
Course at a Glance
Course Description
This course is an introduction to the principles and procedures of general financial accounting with an emphasis on
reporting to individuals outside the organization, and the development of accounting reports on an accrual basis.
Course Design
This course has been designed for the individual student. The learning environment with consists of readings, journal
articles, multi-media presentations, discussion questions, problem assignments, and a Final Paper. The Final Paper should
demonstrate an overall understanding of the materials presented throughout the course.
Prerequisites
There are no prerequisites for ACC205.
Course Learning Outcomes
Upon successful completion of this course, students will be able to
1. Examine business transactions using the accounting equation.
2. Perform each step of the accounting cycle using generally accepted accounting principles (GAAP).
3. Apply internal control principles to cash fund transactions, including accounts receivables and bank
reconciliations.
4. Illustrate and journalize the acquisition, allocation of costs and disposal of plant and intangible assets including
the calculation of depreciation and amortization methods.
5. Compute and journalize a business’s current liability and payroll transactions.
6. Calculate merchandise inventory operations using inventory valuation methods and journalize transactions related
to ending inventory and cost of goods sold.
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ACC205 Principles of Accounting I
COURSE GUIDE
Course Materials
Required Text
K Wainwright, S. (Ed.). (2012). Principles of Accounting: Volume I . San Diego, CA: Bridgepoint Education, Inc.
This text is a Constellation™ course digital materials (CDM) title.
Required Resources
Multimedia
ALaccounting. (2011, April 26). Ratios to know – debt to asset [Video file]. Retrieved from
https://www.youtube.com/watch?v=QjoS8YS2dtQ
Education Unlocked. (2013, December 19). Accounts receivable [Video file]. Retrieved from
https://www.youtube.com/watch?v=XKFUB3Y6Hqo
Education Unlocked. (2013, December 19). Adjusting journal entries (accrual type) [Video file]. Retrieved from
https://www.youtube.com/watch?v=xXeoGlQOV1c
Education Unlocked. (2013, December 19). Adjusting journal entries (prepayment type) [Video file]. Retrieved from
https://www.youtube.com/watch?v=C17Oc9JqG_Q&index=2&list=PL_KGEFWqEaTD7bVk8pXZhfpLZvmQX
SJtk
Education Unlocked. (2014, August 31). Average cost inventory method [Video file]. Retrieved from
https://www.youtube.com/watch?v=qAWVVw-dC5A
Education Unlocked. (2014, August 29). Capital stock (common stock and preferred stock) [Video file]. Retrieved from
https://www.youtube.com/watch?v=TZ2uWgtQXBo
Education Unlocked. (2014, August 29). Cash and cash equivalents [Video file]. Retrieved from
https://www.youtube.com/watch?v=4Pxr_ZoZ050
Education Unlocked. (2014, February 14). Cost of goods sold (COGS) for a manufacturing firm [Video file]. Retrieved
from https://www.youtube.com/watch?v=uTMHzKWXJks
Education Unlocked. (2014, August 29). Current liabilities [Video file]. Retrieved from
https://www.youtube.com/watch?v=3stZc3wAbhw
Education Unlocked. (2014, February 14). Current ratio [Video file]. Retrieved from
https://www.youtube.com/watch?v=sWWnsvuQ3kk
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ACC205 Principles of Accounting I
COURSE GUIDE
Education Unlocked. (2013, December 19). Debits and credits [Video file]. Retrieved from
https://www.youtube.com/watch?v=cHzCOA3b9So&list=PL_KGEFWqEaTDWkWZv9HczHQAnsfYYrMac&in
dex=2
Education Unlocked. (2013, July 9). Depreciation in financial accounting [Video file]. Retrieved from
https://www.youtube.com/watch?v=fvj4iV3r49s
Education Unlocked. (2014, August 29). Double declining balance depreciation method [Video file]. Retrieved from
https://www.youtube.com/watch?v=ziayge17w6g
Education Unlocked. (2013, July 15). How to calculate inventory turnover [Video file]. Retrieved from
https://www.youtube.com/watch?v=Ophz0_bkUAg
Education Unlocked. (2014, February 11). Introduction to the balance sheet [Video file]. Retrieved from
https://www.youtube.com/watch?v=f89jzUybyBw
Education Unlocked. (2014, August 29). Inventory [Video file]. Retrieved from https://www.youtube.com/watch?v=iSq6ExI4Aw
Education Unlocked. (2014, August 31). FIFO inventory method [Video file]. Retrieved from
https://www.youtube.com/watch?v=Wa83L8TvoaM
Education Unlocked. (2014, August 31). LIFO inventory method [Video file]. Retrieved from
https://www.youtube.com/watch?v=zLAvpS6o25E
Education Unlocked. (2014, February 14). Quick ratio (acid test ratio) [Video file]. Retrieved from
https://www.youtube.com/watch?v=J_NM9TVwgfU
Education Unlocked. (2013, December 19). Recording a journal entry [Video file]. Retrieved from
https://www.youtube.com/watch?v=t3CqIfRtPLY&list=PL_KGEFWqEaTDWkWZv9HczHQAnsfYYrMac&inde
x=3
Education Unlocked. (2014, February 11). Revenue, defined and explained [Video file]. Retrieved from
https://www.youtube.com/watch?v=QwzHegsB6JY
Education Unlocked. (2014, August 29). Straight line depreciation method [Video file]. Retrieved from
https://www.youtube.com/watch?v=RHo_3kWaIJo
Education Unlocked. (2013, July 10). The basic accounting equation [Video file]. Retrieved from
https://www.youtube.com/watch?v=cLG7K6Sq9K4&list=PL_KGEFWqEaTDWkWZv9HczHQAnsfYYrMac
Education Unlocked. (2013, July 14). The income statement, defined and explained [Video file]. Retrieved from
https://www.youtube.com/watch?v=-__bUSEls5Y
Education Unlocked. (2014, February 11). The statement of retained earnings [Video file]. Retrieved from
https://www.youtube.com/watch?v=z-SA9HgY_HQ
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ACC205 Principles of Accounting I
COURSE GUIDE
Education Unlocked. (2014, February 11). What is an expense? (Financial Accounting) [Video file]. Retrieved from
https://www.youtube.com/watch?v=vCzxb4vX3rI
Faithful Runner. (2014, May 20). Income statement: Single step vs. multiple step – CPA FAR review [Video file].
Retrieved from https://www.youtube.com/watch?v=EYd1fFVRrZE
Mursau, A. (2013, January 22). Current liabilities accounting (payroll deductions, employee vs employer payables &
expenses) [Video file]. Retrieved from https://www.youtube.com/watch?v=Lcll-Cx3qoY
Mursau, A. (2013, March 26). Stockholders equity (rate of return on common stock equity, trading on equity, ROE, ROA)
[Video file]. Retrieved from https://www.youtube.com/watch?v=LuQOoQTZ8gM
Routh, B. (2011, May 24). Financial statement analysis: Vertical analysis – Financial accounting video [Video file].
Retrieved from https://www.youtube.com/watch?v=OT1BVZPNfks
Routh, B. (2011, May 22). What is financial statement analysis: Horizontal analysis? – Accounting video [Video file].
Retrieved from https://www.youtube.com/watch?v=x_ltrzpz4Ew
SusanCrosson. (2008, February 19). FA 9 4 units of production depreciation [Video file]. Retrieved from
https://www.youtube.com/watch?v=yg5CULLqtPg
Westlake, J. (2012, September 21). Net profit margin presentation [Video file]. Retrieved from
https://www.youtube.com/watch?v=O-WuC_Nn4Sg
Recommended Resources
Balance Sheet Template
This resource is only available in the online classroom.
Article
Alexander, S. (1999). Accrual- vs. Cash-Based Accounting. Computerworld, 33(27), 52. Retrieved from the ProQuest
database.
Multimedia
gordonhensley. (2012, July 7). Accounting equation and basic financial statements lecture [Video file].
Retrieved from http://www.youtube.com/watch?v=IXJLItbL18A
Pence, C. (2010, November 12). Accounting lecture 8 part I – LIFO, FIFO & average cost [Video file]. Retrieved from
http://www.youtube.com/watch?v=UGs1EXalrZo&feature=player_embedded
Walther, L. (2010, November 21). Current liabilities [Video file]. Retrieved from
http://www.youtube.com/watch?feature=endscreen&v=hjT6hRz96zc&NR=
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ACC205 Principles of Accounting I
COURSE GUIDE
Websites
Boundless (2015). Current ratio. Retrieved from https://www.boundless.com/finance/textbooks/boundless-financetextbook/analyzing-financial-statements-3/liquidity-ratios-41/current-ratio-214-6599/?
Flashcard Machine – Create, Study and Share Online Flash Cards. (http://www.flashcardmachine.com/2101951/6z7s)
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ACC205 Principles of Accounting I
COURSE GUIDE
Course Grading
Multiple measures of assessment are used in the course, allowing students opportunities to demonstrate their learning in
more than one way and giving consideration to individual learning styles. Course components that will be assessed are
noted below.
Discussions
Each week students will participate in online discussions with classmates, which are related to the week’s readings. These
discussions replace the interactive dialogue that occurs in the traditional classroom setting. Each week, students’ initial
discussion posts are due by 11:59 p.m. (in the time zone in which each student resides) on Day 3 (Thursday). Students
will have until 11:59 p.m. on Day 7 (the following Monday) to make the required minimum number of response posts to
classmates. Discussions represent 30.5% of the overall course grade.
Quizzes
In Weeks One through Five, students will demonstrate and reinforce their understanding of the week’s content by taking
open-book quizzes. The course has been developed to include learning steps, which include video, PowerPoint, and
chapter quizzes that students are required to complete prior to accessing the assignment.
The video, PowerPoint, and chapter quizzes must be completed in order and the quizzes passed with a grade of 80%
before moving to the next course learning step. If 80% is not earned on the first attempt, a student may retake the quiz to
earn the necessary 80%. The quiz must be completed in one sitting, by Day 7 of the week in which it is due. The
questions are multiple choice and true/false. Quizzes represent 14.5% of the overall course grade.
Assignments
There are written assignments due in Weeks One through Five of this course. These assignments must reflect collegelevel writing. Assignments represent 40% of the overall course grade.
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ACC205 Principles of Accounting I
COURSE GUIDE
Final Paper
The final assignment for this course is a Final Paper. The purpose of the Final Paper is for you to culminate the learning
achieved in the course by providing a financial statement analysis of a public company. The Final Paper represents
15% of the overall course grade.
Grading Percent Breakdown
Grading
Percent
Activity
Discussions
30.5
Quizzes
14.5
Assignments
40
Final Paper
15
Total
100
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ACC205 Principles of Accounting I
COURSE GUIDE
Week One
Course Content
To be completed during the first week of class
Overview
Activity
Post Your Introduction
Accounting Equation
Accounts
Due Date
Format
Grading
Percent
Day 1
Discussion
0.5
Discussion
3
Discussion
3
Day 3
st
(1 post)
Day 3
st
(1 post)
Videos & Quiz: Chapter 1
Day 7
Quiz
0.25
PowerPoint & Quiz: Chapter 1
Day 7
Quiz
0.25
Videos & Quiz: Chapter 2
Day 7
Quiz
0.25
PowerPoint & Quiz: Chapter 2
Day 7
Quiz
0.25
Quiz: Chapters 1 & 2
Day 7
Quiz
2
Week One Assignment
Day 7
Assignment
8
Weekly Learning Outcomes
This week students will
1. Describe the conceptual underpinnings of accounting.
2. Apply the fundamental accounting equation and the impact of transactions.
3. Evaluate…
