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384251: Principles of Financial Accounting (Online)
MGMT-X 1A

  • Winter 2022
  • Section 1
  • 4 Credits
  • 01/03/2022 to 03/20/2022
  • Modified 12/27/2021

Meeting Times

This course takes place fully online and does not include scheduled live meetings. The class week runs from Monday 12:00 AM to Sunday 11:59 PM Pacific Time (US). 

This course is to be completed in eleven weeks. You may log in at any time. You can also review material from prior weeks at any time. 

Description

This course is the first in a two-course Principles of Financial Accounting sequence and provides an introduction to accounting theory, principles, and practice. Instruction covers the uses, communication, and processing of accounting information, as well as the recording, analyzing, and summarizing of procedures used in preparing balance sheets and income statements. Additional topics include accounting for purchases and sales, receivables and payables, cash and inventories, plant and equipment, depreciation and natural resources, intangible assets, and payrolls. Sole proprietorships and partnerships also are examined. Transferable for UC credit.

Objectives

During this course, you will:

  • Practice and utilize financial accounting concepts, language, and terminology. 
  • Foster an understanding of accounting and why it's important in society.
  • Identify Generally Accepted Accounting Principles (GAAP) as they apply to selected elements of the balance sheet and income statement.
  • Discuss and analyze a company 10-K in the group discussions. 

Outcomes

By the end of this course, you should be able to: 

  • Process and summarize business events through all steps of the accounting cycle.
  • Prepare and interpret financial statements including the Balance Sheet, Income Statement, Statement of Cash Flows, and Statement of Stockholders’ Equity.
  • Utilize standard accounting metrics to evaluate the financial position, profitability, liquidity, and solvency of a business entity.
  • Discuss and analyze a company 10-K in the group discussions. 

Materials

Wiley Plus

All homework, quizzes, and exams will be completed using the Wiley Plus feature included with your textbook purchase. You will find links to the Wiley assignments in the weekly modules and in the Assignment area. 

Accounting Principles

  • Author: Weygandt, Kimmel, Kieso
  • Publisher: Wiley
  • Edition: 14th
  • ISBN: TBA
  • Availability: Bookstore

You can purchase the physical book in the UCLA Bookstore or Amazon.com. However, make sure it comes with Wiley PLUS. Most of the work in the course is done in Wiley Plus.  

If you want all-digital access, you can register for Wiley PLUS when the Canvas course opens two days before the course starts. Do not try to register through the Wiley Plus website. You must register through Canvas. Instructions are on your Canvas home page. 

Deliverables

WEEKLY COURSE TASKS

Complete the following tasks each week:

  1. Read the assigned material.  
  2. Visit the Modules and work through the material under the Study Materials heading, or by clicking the Wiley Courses Resources tab in the Navigation bar. There is a wealth of material here to help you learn, including PowerPoint slideshows, topical videos, video walkthroughs for various problems and concepts, self-tests, practice quizzes, and other material. I urge you to scour these links for helpful information. The amount of material there is amazing. 
  3. Complete and submit the homework assignments, which consist of Objective Questions, Problems, and/or Cases, accessed through and graded by the Wiley Plus feature in each weekly module. Late assignments will receive no credit. 
  4. Complete the assigned quizzes and exams by the due dates.
  5. Participate in the group activities each week. 

Evaluation

Weekly Course Tasks

You will be complete the following tasks each week:

  1. Visit the Modules area and read the chapter material. Search the Wiley Plus Chapter Resources in each module. I have provided links to all pertinent Wiley Course Resources, including a chapter overview video from author Paul Kimmel, readings in the digital text, applied skills videos, interactive exercises, and video walkthroughs for many of the homework problems. Finally, there are end of chapter practice problems which you can complete as many times as you like.  
  2. Complete and submit the homework assignments, which consist of Objective Questions, Problems, and/or Cases, accessed through and graded by the Wiley Plus feature in each weekly module. Late assignments will receive no credit. 
  3. Complete the assigned quizzes and exams by the due dates.

Please Note: The materials permitted for the final exam include: 

    • Your text in any form
    • Your notes
    • A calculator
    • Microsoft Excel
    • Microsoft Word
  1. Participate in the Group Activities each week.
    • Discuss and analyze a company 10-K in the group discussions. 

Criteria

The final course grade is based on the following:

Assignment Type

Number

Points

Total Points

Percentage

Homework

9

16

144

29%

Quizzes

9

10

90

18%

Introduction

Group Activities

1

5

6

12

 

66

 

13%

Midterm Exam 

Final Exam

1

1

100

100

 

200

 

40%

Totals

 

 

500

100%

Grading Rubric

Item

Grading Methodology

Homework

Objective questions and problems graded by Wiley Plus.

Quizzes

Multiple choice questions graded by Wiley Plus.

Group Activities

I have included a rubric to illustrate the point allocation. 

Final Exam

Multiple choice questions graded by Wiley Plus.

Breakdown

The standard grading scale applies (%). + grades will be granted. I do not use - grades. To earn a certificate in this program, students must have a 2.5 GPA average across all courses (in the certificate program).

All grades are final.

Grade
Range
A+
100 %
to 97.0%
A
< 97.0 %
to 90.0%
B+
< 90.0 %
to 87.0%
B
< 87.0 %
to 80.0%
C+
< 80.0 %
to 77.0%
C
< 77.0 %
to 70.0%
D+
< 70.0 %
to 67.0%
D
< 67.0 %
to 64.0%
F
< 61.0 %
to 60.0%

Course Policies

Planning Your Study Time
  • Learning accounting is similar to learning a new language. Thus, students should expect to spend at least ten hours per week on this course. 
  • Depending on the extent of your academic preparation and recent college-level coursework in this topic area, the amount of study time needed may vary considerably.
Due Dates 
  • All assigned work is due by the due dates indicated both in the syllabus and in Canvas Modules. It is the obligation of each student to comply with the due dates. 
  • Traveling is not a good reason to miss an assignment in an online class. If you travel for work during the course, it is your obligation to complete the work by the due dates as indicated above. 
Late Work and Extension Policies
  • Late work exceptions will be granted in rare cases and at the discretion of the instructor. Student must request late submission before the due date listed in Canvas. 
  • No work will be accepted after the end of the term. 
  • Make up assignments and alternates will not be granted. Students should complete the assigned work. 
Participation 
  • Participation is indicated by submitting assignments by the due dates indicated. 
  • Participation is also indicated by posting and replying on group activity discussion boards. 
Assignment Submissions
  • All work aside from the discussions will be submitted through Wiley Plus, which you will access directly through links in Canvas Modules. 
  • All homework and quiz assignments in Wiley PLUS are available from the start of the course. Students can work ahead and submit assignments early if they choose.
  • Practice exams are available in Wiley Plus from the start of the course through the opening of the graded exams. Students can complete the practice exams as many times as they like. 
  • Graded exams are open from 12 am Saturday through 11:59 pm Sunday in weeks 5 and 10. 
Activity Feedback
  • All of the work in this course except for the group activities is graded by the Wiley PLUS software.
  • Once the due date for a given assignment passes, you will have access to your work, with detailed feedback on your submission. I encourage you to review that feedback every week.
  • If you need further clarification on an item you missed, I will be happy to clarify it with you either via Canvas Messenger, or email. Don’t be afraid to reach out if you need help.
Grading Policies
  • Homework, quizzes and exams are graded impartially by the Wiley Plus software. I will not intervene in that grading mechanism, so as to ensure that all students are graded in the same objective manner. 
  • If you believe a grade is unfair, please message me through Canvas Messenger. I will review your issue and try to resolve it in an equitable manner. 
  • Group Activities will be graded by rubric. 
  • Plus grades are offered, but not minus grades. 
  • Standard rounding procedures apply. 

Institutional Policies

Student Conduct

Students are subject to disciplinary action for several types of misconduct or attempted misconduct, including but not limited to academic dishonesty, such as cheating, multiple submission, plagiarism, or knowingly furnishing false information to the University; or behavioral misconduct, such as theft or misuse of the intellectual property of others, harassment, or disruption of the learning environment. Students are encouraged to familiarize themselves with the Student Rights & Responsibilities Policy and to report concerns regarding at: https://www.uclaextension.edu/pages/str/studentConduct.jsp.

Services for Students with Disabilities

In accordance with the Americans with Disabilities Act of 1990, UCLA Extension provides appropriate accommodations and support services to qualified applicants and students with disabilities. These include, but are not limited to, auxiliary aids/services such as sign language interpreters, assistive listening devices for hearing-impaired individuals, extended time for and proctoring of exams, and registration assistance. Accommodations and types of support services vary and are specifically designed to meet the disability-related needs of each student based on current, verifiable medical documentation. Arrangements for auxiliary aids/services are available only through UCLA Extension’s Service for Students with Disabilities Office at (310) 825-7851 or by email at [email protected]. For complete information see: https://www.uclaextension.edu/pages/str/studentswithDisabilities.jsp

Incompletes

Your instructor may post the interim grade Incomplete/I if at the end of the class your overall work is of passing quality but a portion could not be submitted for understandable reasons (e.g. illness). It is your responsibility to petition your instructor for permission to submit work late and to provide an explanation, and it is his or her sole decision whether to accept the explanation. If permitted, the Incomplete/I grade will be posted and a time frame defined for you to submit the missing work, ranging from one to twelve weeks. Incomplete/I grades that remain unchanged after twelve weeks will lapse to F, NP or U. Receiving an I grade entitles you to submit only the missing work your instructor has agreed to accept late, and does not allow other work to be retaken or oblige UCLA Extension to provide continuing access to course materials via Canvas. The Incomplete/I grade is not an option for courses that do not bear credit, such as 700, 800, or 900-level courses. For complete information, see: https://www.uclaextension.edu/pages/str/grading.jsp

All Grades are Final

No change of grade may be made by anyone other than the instructor, and then, only to correct clerical errors. No term grade except Incomplete may be revised by re-examination. The correction of a clerical error may be authorized only by the instructor of record communicating directly with personnel of Student and Alumni Services.

Sexual Harassment

The University of California is committed to creating and maintaining a community where all individuals who participate in University programs and activities can work and learn together in an atmosphere free of harassment, exploitation, or intimidation. Every member of the community should be aware that the University prohibits sexual harassment and sexual violence, and that such behavior violates both law and University policy. The University will respond promptly and effectively to reports of sexual harassment and sexual violence, and will take appropriate action to prevent, to correct, and when necessary, to discipline behavior that violates our policy.

All Extension students and instructors who believe they have been sexually harassed are encouraged to contact the Department of Student and Alumni Services for complaint resolution: UCLA Extension, 1145 Gayley Ave., Los Angeles, CA 90024; Voice/TTY: (310) 825-7031. View the University’s full Policy on Sexual Harassment and Sexual Violence at http://policy.ucop.edu/doc/4000385/SHSV.

Additional Items

Protecting Privacy and Data During Live Instruction

Live meeting sessions for this class, when applicable, are being conducted over Zoom. As the host, the instructor may be recording live sessions. Only the host has the ability to record meetings, no recording by other means is permitted. Recorded sessions will be posted in the Videos area of this class unless otherwise notified. Due to privacy, recordings are not available for download and are only accessible via Canvas for the duration of the class. If you have privacy concerns and do not wish to appear in the recording, do not turn on your video and/or audio. If you also prefer to use a pseudonym instead of your name, please let the instructor know what name you will be using so that the instructor knows who you are during the session. To rename yourself during a Zoom meeting, click on Participants, click on your name, click on More, click on Rename. If you would like to ask a question, you may do so privately through the Zoom chat by addressing your chat question to the instructor only (and not to ""everyone""). Additionally, chat may be used and moderated for live questions, and saving of chats is enabled. If you have questions or concerns about this, please contact the instructor via Canvas Inbox.

Pursuant to the terms of the agreement between Zoom and UCLA Extension, the data is used solely for this purpose and Zoom is prohibited from re-disclosing this information. UCLA Extension also does not use the data for any other purpose. Recordings will be deleted when no longer necessary. However, recordings may become part of an administrative disciplinary record if misconduct occurs during a video conference.

Course and Instructor Evaluation

UCLA Extension values your feedback on course and instructor evaluations. We ask all students to take a few minutes to complete an end-of-course evaluation survey. Updates to the course and instruction are influenced by your feedback. Understanding your student experience is essential to ensure continuing excellence in the online classroom and is appreciated by your instructor and the UCLA Extension academic leadership.

Your participation in a survey is voluntary, and your responses are confidential. After instructors submit grades, they will be given an evaluation report, but this report will not contain your name.

About Your Online Course Materials

Please note the following about online course components at UCLA Extension:

  • Students must have basic computer skills, including the use of word processing software, email, and the ability to use internet browsers, such as Safari, Firefox, or Chrome.
  • Students are responsible for meeting the technical requirements of Canvas and familiarizing themselves with the Canvas Learning Management System.
  • Students are responsible for keeping a copy of all assignments and work submitted, and to be aware of all assignments, due dates, and course guidelines.
  • Students are encouraged to keep and/or download a local copy of their assignment files, as access to the online environment of a specific course is limited to 30 days after the final course date, as listed in the course catalog.

    If you need assistance downloading student materials from your course, please contact Canvas Support or the UCLA Extension Learning Support Team.

UCLA Extension Canvas and Learning Support

For immediate 24/7 Canvas technical support, including holidays, click on Help (located on the menu to the left) where you can call or chat live with a Canvas Support representative.

UCLA Extension Instructional Design and Learning Support
The UCLA Extension Learning Support staff assists both students and instructors with Canvas-related technical support, as well as general and administrative questions.

Learning Support staff is available Monday through Friday, from 8 AM to 5 PM (Pacific Time), except holidays:

Schedule

If anything about this schedule is unclear or ambiguous, please let me know via Canvas Inbox or email. 

Course calendar and related activities
When Module Title Notes
Week One (1/3/22 - 1/9/22)
Accounting in Action

Lesson Topics:

  • Introductions
  • Accounting Principles 
  • The Accounting Equation & Business Transactions 
  • The Four Financial Statements 

Read / Watch:

  • Chapter 1 "Accounting in Action"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Introduce Yourself - due Sunday, 11:59 PM (PT)
  • Week One Homework - due Sunday, 11:59 PM (PT)
  • Week One Quiz - due Sunday, 11:59 PM (PT)
Week Two (1/10/22 - 1/16/22)
The Recording Process

Lesson Topics:

  • Using Journals in the Recording Process
  • Accounts, Debits, and Credits 
  • Preparing a Trial Balance
  • Ledger & Postings in the Recording Process

Read / Watch:

  • Chapter 2 "The Recording Process"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Two Homework - due Sunday, 11:59 PM (PT)
  • Week Two Quiz - due Sunday, 11:59 PM (PT)
  • Begin working on Group Activity #1 - due Week 3 by Sunday, 11:59 PM (PT)
Week Three (1/17/22 - 1/23/22)
Adjusting the Accounts

Lesson Topics:

  • Accrual Basis of Accounting  
  • Prepare Adjusting Entries for Deferrals / Accruals
  • purpose of Adjusted Trial Balance

Read / Watch:

  • Chapter 3 "Adjusting the Accounts"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Three Homework - due Sunday, 11:59 PM (PT)
  • Week Three Quiz - due Sunday, 11:59 PM (PT)
  • Group Activity #1- due Sunday, 11:59 PM (PT)
Week Four (1/24/22 - 1/30/22)
Completing the Accounting Cycle

Lesson Topics:

  • Preparing a Worksheet 
  • Preparing Closing Entries & Post-closing Trial Balance
  • Steps in the Accounting Cycle
  • Preparing Correcting Entries
  • Sections of a Classified Balance Sheet

Read / Watch:

  • Chapter 4 "Completing the Accounting Cycle"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Four Homework - due Sunday, 11:59 PM (PT)
  • Week Four Quiz - due Sunday, 11:59 PM (PT)
  • Begin work on Group Activity #2 - due Week 5, by Sunday, 11:59 PM (PT)
Week Five (1/31/22 - 2/6/22)
Midterm Exam

Lesson Topics:

  • Review Chapters 1 to 4 in prep for midterm

Read / Watch:

  • Resources listed in the Read/Watch section of the module

Activities:

  • Practice Exam (non-graded) - due Friday, 11:59 PM (PT)
  • Midterm Exam (graded) - due Sunday, 11:59 PM (PT)
  • Group Activity #2- due Sunday, 11:59 PM (PT)
Week Six (2/7/22 - 2/13/22)
Accounting for Merchandising Operations

Lesson Topics:

  • Merchandising Operations & Inventory Systems
  • Recording under Perpetual Inventory System
  • Multiple-step / Comprehensive Income Statements

Read / Watch:

  • Chapter 5 "Accounting for Merchandising Operations" 
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Six Homework - due Sunday, 11:59 PM (PT)
  • Week Six Quiz - due Sunday, 11:59 PM (PT)
  • Begin working on Group Activity #3 - due week 7 by Sunday, 11:59 PM (PT)
  • Optional: Mid-course Survey - due Week 7 by Sunday, 11:59 PM (PT)
Week Seven (2/14/22 - 2/20/22)
Inventories

Lesson Topics:

  • Classify & Determine Inventory
  • Inventory Cost Flow Methods 
  • Effects of Inventory Errors 
  • Statement Presentation & Inventory Analysis

Read / Watch:

  • Chapter 6 "Inventories" 
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Seven Homework - due Sunday, 11:59 PM (PT)
  • Week Seven Quiz - due Sunday, 11:59 PM (PT)
  • Group Activity #3 - due Sunday, 11:59 PM (PT)
  • Optional: Mid-course Survey - due Sunday, 11:59 PM (PT)
Week Eight (2/21/22 - 2/27/22)
Fraud, Cash, and Internal Control

Lesson Topics:

  • Principles of Internal Control
  • Determining Fraud
  • Internal Controls for Cash
  • Bank Account Control Features
  • Reporting of Cash

Read / Watch:

  • Chapter 8 "Fraud, Cash, and Internal Control"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Eight Homework - due Sunday, 11:59 PM (PT)
  • Week Eight Quiz - due Sunday, 11:59 PM (PT)
  • Begin working on Group Activity #4 - due Week 9 by Sunday, 11:59 PM (PT)
Week Nine (2/28/22 - 3/6/22)
Accounting for Receivables

Lesson Topics:

  • Accounts Receivable
  • Recording Dispositions 
  • Disposing of Notes Receivables
  • Statement Presentation & Analysis of Receivables

Read / Watch:

  • Chapter 9 "Accounting for Receivables"
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Nine Homework - due Sunday, 11:59 PM (PT)
  • Week Nine Quiz - due Sunday, 11:59 PM (PT)
  • Group Activity #4 - due Sunday, 11:59 PM (PT)
Week Ten (3/7/22 - 3/13/22)
Plant Assets, Natural Resources, and Intangible Assets

Lesson Topics:

  • Accounting for Plant Asset Expenditures
  • Depreciation Methods to Plant Assets
  • Accounting for Natural Resources and Intangible Assets
  • Reporting Plant Assets, Natural Resources, and Intangible Assets 

Read / Watch:

  • Chapter 10 "Plant Assets, Natural Resources, and Intangible Assets" 
  • Resources listed in the Read/Watch section of the module

Activities:

  • Week Ten Homework - due Sunday, 11:59 PM (PT)
  • Week Ten Quiz - due Sunday, 11:59 PM (PT)
  • Begin working on Group Activity #5 - due Week 11 by Sunday, 11:59 PM (PT)
Week Eleven (3/14/22 - 3/20/22)
Final Exam

Lesson Topics:

  • Review Chapters 5, 6, 8, 9, and 10 in prep for the final exam

Read / Watch:

  • Resources listed in the Read/Watch section of the module

Activities:

  • Practice Exam (non-graded) - due Friday, 11:59 PM (PT)
  • Final Exam (graded) - due Sunday, 11:59 PM (PT)
  • Group Activity #5 - due Sunday, 11:59 PM (PT)