Foothill CollegeApproved Course Outlines

Business and Social Sciences Division
ACTG 51AINTERMEDIATE ACCOUNTING ISummer 2011
4 hours lecture.4 Units

Total Quarter Learning Hours: 48 (Total of All Lecture, Lecture/Lab, and Lab hours X 12)
 
 Lecture Hours: 4 Lab Hours: Lecture/Lab:
 Note: If Lab hours are specified, see item 10. Lab Content below.

Repeatability -
Statement: Not Repeatable.

Status -
 Course Status: ActiveGrading: Letter Grade with P/NP option
 Degree Status: ApplicableCredit Status: Credit
 Degree or Certificate Requirement: AA Degree
 GE Status: Non-GE

Articulation Office Information -
 Transferability: CSUValidation: 12/13/10

1. Description -
Review of financial accounting standards, accounting information processing systems and the resulting financial statements. Selected topics related to present value applications, valuation techniques, and revenue recognition. Also covered, accounting for cash, receivables, and inventory.
Prerequisite: ACTG 1B.
Co-requisite: None
Advisory: None

2. Course Objectives -
Student will be able to:
  1. describe the purpose of each of the financial statements and its elements.
  2. research the relevant financial accounting standard (s) as they relate to questions, problems, or other accounting issues.
  3. apply financial accounting standards in solving problems and cases.
  4. present financial statements, including appropriate disclosures, as required by the related financial accounting standards.
  5. account for cash, receivables, and inventories.
  6. describe the direct and indirect effect (s) of transactions on the Financial Statements and their elements.
3. Special Facilities and/or Equipment -
Access to spreadsheet, word-processing, and presentation software. When taught as an online distance learning section, students and faculty need reliable and ongoing Internet (java-enabled) and Email access.

4. Course Content (Body of knowledge) -
  1. Financial Accounting and Accounting Standards
  2. Conceptual Framework Underlying Financial Accounting
    1. Basic Objectives, Fundamental Concepts, Recognition and Measurement Concepts
  3. The Accounting Information System and the Accounting Cycle
  4. Income Statement and Related Information
  5. Revenue Recognition
    1. At point of Sale
    2. Before Delivery
    3. After Delivery
    4. Special Sales Transactions
  6. Accounting and the Time Value of Money
  7. Balance Sheet and Statement of Cash Flows
  8. Accounting for Cash and Receivables
  9. Accounting for Inventory
    1. Cost Flows
    2. Valuation Methods
    3. Estimation Techniques
5. Repeatability - Moved to header area.
 
6. Methods of Evaluation -
  1. Midterm Exam
  2. Final Exam
  3. Quizzes
  4. Projects
  5. Computerized Assignments
  6. Research Activities (online and traditional)
  7. Presentations
  8. Writing Assignments
  9. Student Participation
  10. Group Work
7. Representative Text(s) -
Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Intermediate Accounting, 13th Edition, Wiley Publisher, 2009.

8. Disciplines -
Accounting
 
9. Method of Instruction -
Lecture, Discussion, Cooperative learning exercises, Self-paced, Electronic discussions/chat, Independent study.
 
10. Lab Content -
Not applicable.
 
11. Honors Description - No longer used. Integrated into main description section.
 
12. Types and/or Examples of Required Reading, Writing and Outside of Class Assignments -
  1. Reading of corporate annual reports
  2. Reading and Written Analysis of Financial Accounting Standards Board Statements (FASB) and other Generally Accepted Accounting Principles Literature (GAAP)
  3. Reading of internet articles and writing on accounting topics or accounting-related current events and/or careers
13. Need/Justification -
This course is a restricted support course for the AA degree in Accounting.


Course status: Active
Last updated: 2011-12-09 10:56:27


Foothill CollegeApproved Course Outlines