FINANCE

Saint Leo University

ACC 202

Principles of Accounting II

Course Description:

This course is a continuation of ACC 201 and introduces cost accounting concepts, budgeting, cost- volume-profit analysis and managerial decision-making. It also covers the three principal financial statements: the income statement, balance sheet, and statement of cash flows. Prerequisite:

ACC 201 Textbook:

Wild / Financial and Managerial Accounting (With Connect Access) / 5 TH

2013 / McGraw-Hill Create Custom Book / ISBN# 9781308576893 (eBook package) OR

Wild / Financial and Managerial Accounting (With Connect Access) / 5

TH 2013 / McGraw-Hill Create

Custom Book / ISBN# 9781308576619 (Loose-leaf print book package) Students have the choice of the eBook or the loose-leaf package for this class. Both include the required Connect access. The access is good for 364 days so students taking the courses consecutively do not need to purchase another package.

Note: All purchase options for Connect Plus provide access for two 180-day terms; therefore, it is

recommended that you take ACC 201 and ACC 202 in consecutive terms (or within the same calendar year) to avoid paying twice.

Learning Outcomes:

Upon completion of the course, students will be able to:

1. Analyze and understand the components of Stockholders’ Equity of the Balance Sheet, including

differences between common stock and preferred stock, and the computation of book value.

2. Explain the difference between financial and managerial accounting.

3. Define and give examples of cost terms used in planning, control and decision-making and

distinguish between manufacturing and nonmanufacturing costs.

4. Perform cost-volume-profit analysis.

5. Understand the budgeting process and prepare a budget.

6. Analyze financial statements using horizontal, common-size and ratio analysis. 7. VALUES OUTCOME Discuss and explain the relevance of responsible stewardship and integrity as it

relates to accounting. Core Values: With the core values of responsible stewardship and integrity in mind, students will discuss management’s responsibility for creating the master budget. Additionally, students will discuss management’s incentives for understating revenues and overstating expenses when creat ing budgets.

Responsible Stewardship: Our Creator blesses us with an abundance of resources. We foster a spirit of service to employ our resources to university and community development. We must be resourceful. We must optimize and apply all of the resources of our community to fulfill Saint Leo University’s mission and goals.

Integrity: The commitment of Saint Leo University to excellence demands that its members live its mission and deliver on its promise. The faculty, staff and students pledge to be honest, just and consistent in word and deed. Evaluation:

Methods of assessment include discussion, assignments, and exams.

Grading Scale:

Grade Score (%)

A 94-100 A- 90-93 B+ 87-89 B 84-86 B- 80-83 C+ 77-79 C 74-76 C- 70-73 D+ 67-69 D 60-66 F 0-59

Discussions

Class participation is an important, graded component of the course. All students are expected to adhere to the course syllabus and schedule. It is the responsibility of the student to be aware of what is happening in the class. When preparing for the discussion assignments, the student should plan on, at a minimum, three separate discussion postings. The first posting is due by Thursday, 11:59 PM EST/EDT, of the week in which the assignment is due. That first posting will reflect the student’s take on the assigned material. That posting should be well-thought-out and well-written and include appropriately cited online research and text references. Everyone is expected to build the discussion by posting thoughtful and substantive interactive responses to your classmates’ posts. Three instances of interaction are required and more are encouraged. Interaction should include constructive criticism (positive and negative) offered in a supportive, collegial spirit. In an active learning experience, such as discussion, constructive criticism can be a very powerful learning tool if offered in this manner. The deadline date to post your responses is Sunday, 11:59 PM EST/EDT. McGraw-Hill Connect

Assignments, quizzes, and exams will be completed through the Connect website. Your instructor will provide information regarding how to access the course materials for this course section on Connect.

Assessments Points Percentage

8 discussion assignments @ 25 points each 200 20%

8 homework assignments @ 25 points each 200 20%

4 quizzes @ 50 points each 200 20%

4 tests @ 100 points each 400 40% Total 1000 100%

Course Schedule:

Module 1 Corporate Reporting and Analysis Objectives When you complete this module, you should be able to:

 Identify characteristics of corporations and their organization.  Explain characteristics of, and distribute dividends between, common and

preferred stock.  Record the issuance of corporate stock.  Record transactions involving cash dividends.  Record transactions involving stock dividends, and stock splits.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post introduction to the class Thursday 11:59 PM EST/EDT

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 1 in Connect Thursday 11:59 PM EST/EDT

Complete Quiz 1 (Chapter 11) in Connect Sunday 11:59 PM EST/EDT

Module 2 Corporate Reporting and Analysis (continued) Objectives When you complete this module, you should be able to:

 Compute earnings per share and describe its use.  Compute price-earnings ratio and describe its use.  Compute dividend yield and explain its use in analysis.  Record stock dividends and stock splits.  Record purchases and sales of treasury stock and the retirement of stock.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 2 in Connect Thursday 11:59 PM EST/EDT

Complete Exam 1 (Chapter 11) in Connect Sunday 11:59 PM EST/EDT

Module 3 Reporting Cash Flows Objectives When you complete this module, you should be able to:

 Distinguish between operating, investing, and financing activities, and describe how noncash investing and financing activities are disclosed.

 Analyze the statement of cash flows.  Prepare a statement of cash flows.  Compute cash flows from operating activities using the indirect method.  Determine cash flows from both investing and financing activities.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 3 in Connect Thursday 11:59 PM EST/EDT Complete Quiz 2 (Chapter 12) in Connect Sunday 11:59 PM EST/EDT Module 4 Managerial Accounting Concepts and Principles Objectives When you complete this module, you should be able to:

 Describe accounting concepts useful in classifying costs.  Define product and period costs and explain how they impact financial

statements.  Discuss the items on balance sheets and income statements for

manufacturing and merchandising companies.  Explain manufacturing activities and the flow of manufacturing costs.  Prepare a manufacturing statement and explain its purpose and links to

financial statements. Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 4 in Connect Thursday 11:59 PM EST/EDT Complete Exam 2 (Chapters 12 and 14) in Connect Sunday 11:59 PM EST/EDT

Module 5 Cost Behavior and Cost-Volume-Profit Analysis Objectives When you complete this module, you should be able to:

 Describe different types of cost behavior in relation to production and sales volume.

 Describe several applications of cost-volume-profit analysis.  Compute the contribution margin and describe what it reveals about a

company’s cost structure.  Determine cost estimates using the high-low method of estimating costs.  Compute break-even point for a single product company.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 5 in Connect Thursday 11:59 PM EST/EDT Complete Quiz 3 (Chapter 18) in Connect Sunday 11:59 PM EST/EDT Module 6 Budgeting, Performance Planning, and Standard Costing Objectives When you complete this module, you should able to:

 Describe the importance and benefits of budgeting and the process of budget administration.

 Prepare each component of a master budget and link each to the budgeting process.

 Discuss standard costs and explain how standard cost information is useful for management exception.

 Prepare flexible budgets and interpret the performance report.  Compute materials, labor, and overhead variances.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 6 in Connect Thursday 11:59 PM EST/EDT Complete Exam 3 (Chapters 18, 20, and 21) in Connect Sunday 11:59 PM EST/EDT

Module 7 Capital Budgeting and Investment Analysis Objectives When you complete this module, you should be able to:

 Explain the importance of capital budgeting.  Analyze a capital investment project using break-even time.  Compute payback period and describe its use.  Compute accounting rate of return and describe its use.  Compute net present value and internal rate of return and explain their use.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 7 in Connect Thursday 11:59 PM EST/EDT Complete Quiz 4 (Chapter 24) in Connect Sunday 11:59 PM EST/EDT Module 8 Analysis of Financial Statements Objectives When you complete this module, you should be able to:

 Explain the purpose and identify the building blocks of analysis.  Summarize and report results of analysis.  Explain and apply methods of horizontal analysis.  Describe and apply methods of vertical analysis.  Define and apply ratio analysis.

Assignments

Items to be Completed: Due No Later Than:

Read assigned materials

Post initial response to the discussion question Thursday 11:59 PM EST/EDT

Post responses to at least two classmates Sunday 11:59 PM EST/EDT

Complete Assignment 8 in Connect Thursday 11:59 PM EST/EDT Complete Exam 4 (Chapters 13 and 24) in Connect Sunday 11:59 PM EST/EDT

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