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MGMT X 423.430 (Revised 09/21/16) Page 1 of 14
MGMT X 423.430 – BOOKKEEPING ESSENTIALS
COURSE SYLLABUS
Quarter: Fall, 2016
Instructor: Shael B. Jacobson, CPA
Email: [email protected]
Instructor’s Phone: Office – (310) 475-5910 - Cell – (424) 253-4606
Office hours: Arrange with instructor
Meetings: 12 (36 Hours)
Times: Wednesdays – 6:30 to 9:30 PM
Location: Westwood – Boelter Hall – Room 4283
Course Description
This introductory course, ideal for bookkeepers and accountants who are early in their
career or for individuals considering a career transition, provides an overview of the
essential skills needed to be a successful bookkeeper. Students learn the principles of
double-entry bookkeeping, the basics of preparing financial statements, and how to
analyze business transactions from an accounting standpoint. Topics include recording
entries in a general ledger, preparing end-of-period worksheets and financial
statements, and instruction on adjusting and closing entries. Additional topics include a
general overview of payroll accounting; gross pay; employee deductions, employer’s
taxes, and net pay through the payroll register; journal entries; and income tax, Social
Security tax, FICA, and unemployment tax. This course is a prerequisite for all other
courses in the Bookkeeping Certificate.
Course Objectives
Upon completion of this course, students will understand the basic concepts of
accounting and bookkeeping and be able to process and summarize business events
through all steps of the accounting cycle. The course will provide practical techniques
and best practices for analyzing, evaluating, and solving the day-to-day challenges
bookkeepers and accountants face. Students will understand how to apply the concepts
of accrual accounting and will learn the effect of accrual and deferral transactions to
financial statements
MGMT X 423.430 (Revised 9/21/16) Page 2 of 14
Learning Outcomes
Students who complete the course will be familiar with the following:
1. The language of accounting.
2. Understand and apply the accounting equation.
3. Processing and summarizing business events through all steps of the accounting
cycle.
4. GAAP as they apply to selected areas of the balance sheet and income statement.
5. How to prepare and interpret financial statements.
6. Practical techniques and best practices for analyzing, evaluating, and solving the
day-to-day challenges bookkeepers and accountants face.
Materials Textbooks
(Mandatory) College Accounting, 22th Edition – Chapters 1-27 + CengageNOW
v2 by James A. Heintz, DBA, CPA & Robert W. Parry, Jr. Ph.D. - South-Western Cengage Learning ISBN 978-1-305-93041-4
Materials may be purchased at a discounted rate from the publisher at http://www.cengagebrain.com/course/1933787.
The following links provide information regarding how to access CengageNOW: Student Registration URL https://login.cengagebrain.com/course/E-Y84EYX5T9NAEP Tech Support www.cengage.com/support Student Quick Log in instructions http://assets.cengage.com/pdf/gui_cnowv2-stu-quick-guide.pdf Student Registration and Log in video https://www.cengage.com/services/resource/6087 Student User Guide https://www.cengage.com/services/resource/6207 How to complete assignments video https://www.cengage.com/services/resource/6183 To access student resources: Go to www.cengagebrain.com and then type in
the ISBN: 9781305666160 When the text book screen is loaded – scroll down the page and click the green button “Access Now” to access the student
resources.
MGMT X 423.430 (Revised 9/21/16) Page 3 of 14
(Optional) Bookkeeping Essentials: How to Succeed as a Bookkeeper; Steven
M. Bragg; John Wiley & Sons, Inc.; 1st Edition (2011); ISBN: 978-0-470-88255-9
Course Outline (Subject to Change)
In-Class & Homework problem assignments are stated below. In-Class assignments are to be
retained by students for study purposes. Homework assignments are due at the beginning of
the next class. Students may be called on to either present and/or discuss the previous week's
homework assignments in class.
Week One 9/21/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe the qualities
and importance of
accounting information.
Use the accounting
equation as a tool to
maintain balance in
company accounts.
Explain how debits and
credits are used in
accounting.
Review the definition of accounting and the importance of accounting information. Recognize potential career opportunities in the accounting field. Define GAAP and describe the process used by the FASB to develop these principles Define three types of business ownership structures. Classify different types of businesses by activities Define the accounting elements Construct the accounting equation Analyze business transactions Show the effects of business transactions on the accounting equation
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 1
The purpose of accounting
The accounting process
Generally Accepted Accounting
Principles
Types of business ownership
structures
Types of business
Career opportunities in accounting
Chapter 2
The accounting elements
The accounting equation
Effect of transactions on the
accounting equation
Financial statements
Overview of the accounting process
Chapter 3
The “T: Account Form
Balancing a “T” account
Debits and Credits
Transaction analysis
The Trial Balance and financial
statements
Class Review Problems:
Attendance/ Participation – 3 Pts.
Homework:
Chapter 2 – Mastery Problem – Page 48 - Pts. TBD
Chapter 3 – Mastery Problem – Pages 83 & 84 – Pts. TBD
MGMT X 423.430 (Revised 9/21/16) Page 4 of 14
Prepare & describe the purposes of simple financial statements Define the three basic phases of the accounting process Define the parts of and
balance a “T” account
Describe the effects of
debits and credits on
specific types of accounts
Use “T” accounts to
analyze transactions
Prepare a trial balance and explain its purposes and linkage with the financial statements
Chapter 2 – Demonstration Problem
Chapter 3 – Demonstration Problem
Textbook:
Read Chapters 1, 2 & 3
Week Two 9/28/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Show how an accounting
system is maintained
through the use of
journals and a general
ledger system with
emphasis on the
accounting cycle
Describe how accounting
worksheets and financial
statements are prepared.
Summarize the concepts
and timing related to the
recognition of revenue
and expenses.
Describe the flow of data
from source documents to the
trial balance
Describe and explain the
purpose of source documents
Describe the chart of
accounts as a means of
classifying financial
information
Understand how to journalize
transactions
Understand how to post to
the general ledger and
prepare a trial balance
Understand and prepare end-
of-period adjustments
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 4
The flow of data
Source documents
The chart of accounts
The general journal & journalizing
The General Ledger and the posting
process
Trial Balance Preparation
Chapter 5
End of period adjustments
Preparing the 10 column worksheet
Journalizing adjusting entries from the
worksheet
Posting the adjusting entries
Attendance/ Participation – 3 Pts.
Homework: Chapter 4 –
Mastery Problem
– Pages 125 &
126 – Pts - TBD
Chapter 5 Mastery
Problem – Pages
175 & 176 – Pts.
TBD
MGMT X 423.430 (Revised 9/21/16) Page 5 of 14
Illustrate how to prepare a ten
column worksheet.
State the importance of
accounting principles related
to the timing of revenue and
expense recognition.
Record adjusting entries in a
journal and post them to the
general ledger.
Understand the methods of
accounting – Accrual Basis,
Modified Cash Basis & Cash
Basis
The 3 methods of accounting
Class Review Problems:
Chapter 4 – Demonstration Problem
Chapter 5 – Demonstration Problem
Textbook:
Read Chapters 4 & 5
Week Three 10/05/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Use the accounting
equation as a tool to
maintain balance in
company accounts.
Show how an accounting
system is maintained
through the use of
journals and a general
ledger system with
emphasis on the
accounting cycle.
Describe how accounting
worksheets and financial
statements are prepared.
Summarize the concepts
and timing related to the
recognition of revenue
and expenses.
Explain the process of
bank account and pretty
cash fund reconciliations.
Outline various stages of the
accounting cycle.
Prepare financial statements
using the worksheet
Understand the closing
process
Describe how to prepare and
post the closing journal
entries.
Explain what a post-closing
trial balance is.
Describe how to open and
use a checking account
Understand a bank
reconciliation and related
journal entries
Understand a petty cash fund
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 6
The financial statements
Purpose and Procedures for
Closing Entries
Post-Closing Trial Balance
Preparation
Chapter 7
The checking account
Reconciling the bank statement
Petty Cash Set Up and Fund
Reimbursement
The change fund and cash short &
over
Chapter 7 – Appendix – Internal
controls
Class Review Problems:
Chapter 6 – Demonstration Problem
Chapter 7 – Demonstration Problem
Textbook:
Read Chapters 6 & 7
Attendance/ Participation – 3 Pts.
Homework:
Chapter 6 – Mastery Problem – Pages 212 & 213 – Pts. TBD
Chapter 7 Mastery Problem – Pages 264 & 265 – Pts. TBD
Extra Credit: Comprehensive
Problem 1: The
Accounting Cycle –
Pages 223 & 224-
Pts. TBD
MGMT X 423.430 (Revised 9/21/16) Page 6 of 14
Week Four 10/19/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe and
understand payroll
accounting; gross pay;
employee deductions,
employer’s taxes, and
net pay through the
payroll register; journal
entries; and income tax,
Social Security tax,
FICA, and
unemployment tax.
Distinguish between
employees and independent
contractors
How to calculate employee
earnings and deductions
Describe and prepare payroll
records
Describe various payroll
record-keeping methods
Describe and calculate
employer payroll taxes
How to account for employer
payroll tax expense
Describe employer reporting
& payment responsibilities
Describe and account for
workers’ compensation
insurance
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 8
Employees and independent
contractors
Employee earnings and deductions
Computing net pay
Payroll records
Accounting for employee earnings
and deductions
Payroll record keeping methods
Chapter 9
Employer payroll taxes
Accounting for employer payroll taxes
Reporting & payment responsibilities
Workers’ compensation insurance
Class Review Problems
Chapter 8 – Demonstration Problem
Chapter 9 – Demonstration Problem
Textbook:
Read Chapters 8 & 9
Attendance/ Participation – 3 Pts. Homework: Chapter 8-
Mastery Problem – Pages 314 – Pts. TBD
Chapter 9 – Mastery Problem – Pages 350 & 351- Pts. TBD
MGMT X 423.430 (Revised 9/21/16) Page 7 of 14
Week Five 10/26/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe and
understand accounting
for merchandise sales
Describe merchandise sales
transactions
Describe and use
merchandise sales accounts
Describe and use the
accounts receivable ledger
Define merchandise
purchases transactions
Describe and use
merchandise purchase
accounts and compute gross
profit
Describe and use the
accounts payable ledger
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 10
Merchandise sales transactions
Merchandise sales accounts
Journalizing and posting sales and
cash receipts transactions
Preparing a schedule of accounts
receivable
Chapter 11
Merchandise purchases transactions
Merchandise purchases accounts
Computation of gross profit
Journalizing and posting purchases
and cash payments transactions
Prepare a schedule of accounts
payable
Class Review Problems:
Chapter 10 – Demonstration Problem
Chapter 11 – Demonstration Problem
Textbook: Read Chapters 10 & 11
Attendance/ Participation – 3 Pts. Homework: Chapter 10
Mastery Problem
– Pages 394, 395
& 396- Pts. TBD
Chapters 11
Master Problem –
Pages 434 & 435 -
Pts. TBD
Week Six 11/02/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
NONE
Mid-Term Exam
Before you begin this week’s Graded
Activities, complete the following:
Review of chapters 1 through 11
Textbook:
Review Chapters 1 through 11
Attendance/
Participation - 3 Pts.
Mid-Term Exam:
Chapter 1 through
Chapter 11 – Pts.
TBD
MGMT X 423.430 (Revised 9/21/16) Page 8 of 14
Week Seven 11/09/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe and
understand the effects
of accounting for
merchandise
inventories.
Explain the impact of
merchandise inventory on the
financial statements
Describe the two principal
systems of accounting
merchandise inventory – the
periodic method and the
perpetual method
Compute the costs allocated
to the ending inventory and
cost of goods sold using
different methods
Estimate the ending inventory
and cost of goods sold by
using the gross profit and
retail inventory methods
Prepare an adjustment for
unearned revenue
Prepare a worksheet for a
merchandising business
Journalize adjusting entries
for a merchandising business
Prepare adjusting journal
entries for the perpetual
inventory system Prepare an
adjustment for merchandise
inventory using the periodic
inventory system
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 13
The impact of merchandise inventory
on financial statements
Types of inventory systems: periodic
& perpetual
Assigning cost to inventory and cost
of goods sold
Estimating ending inventory and cost
of goods sold
Chapter 14
Adjustment for merchandise inventory
– periodic system
Adjustment for Unearned Revenue
Preparing a worksheet for a
merchandising business
Adjusting entries when using the
perpetual inventory system
Class Review Problems:
Chapter 13 – Demonstration Problem
Chapter 14 – Demonstration Problem
Chapter 15 – Demonstration Problem
Textbook:
Read Chapters 13, 14 & 15
Attendance/
Participation – 3 Pts
Homework:
Chapter 13 -
Mastery Problem
– Pages 517 &
518 –Pts TBD
Chapter 14 –
Mastery Problem
– Pages 562 &
563 – Pts. TBD
Chapter 15 –
Mastery Problem
– Pages 611 &
612
MGMT X 423.430 (Revised 9/21/16) Page 9 of 14
Week Eight 11/16/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe & understand
accounts receivable, the
estimation of
uncollectible accounts
(bad debts) and effects
on financial statements
Describe & understand
a promissory note, the
accounting for notes
receivable & payable
and the calculation of
interest and the due
dates of notes.
Describe & understand
the accounting for long-
term assets
Apply the allowance method
of accounting for uncollectible
accounts
Apply the percentage of sales
and percentage of
receivables methods of
estimating uncollectible
accounts
Apply the direct write-off
method of accounting for
uncollectible accounts.
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 16
The Allowance Method
Estimating & writing off uncollectibles
The direct write-off method
Chapter 17
The Promissory Note
Calculating interest & determining due
dates
Accounting for notes receivable
Accrued interest receivable
Accounting for notes payable
Accrued interest Payable
Class Problems:
Chapter 16 – Demonstration Problem
Chapter 17 – Demonstration Problem
Textbook:
Read Chapters 16 & 17
Attendance/ Participation – 3 Pts. Homework:
Chapter 16
Mastery Problem
– Pages 651 &
652 – Pts. TBD
Chapters 17
Master Problem –
Page 688 – Pts.
TBD
MGMT X 423.430 (Revised 9/21/16) Page 10 of 14
Week Nine 11/23/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe and
understand how to
identify and record
different types of
property and equipment
and calculate and record
depreciation
Describe partnerships
and understand the
related accounting for
partners, partnership
dissolutions &
liquidations
Determine the cost of
property, plant & equipment
Understand the nature &
purpose of depreciation
Compute depreciation using
the following methods:
Straight-line
Double declining balance
Sum of the year’s digits
Units of production
MACRS depreciation
Accounting for repairs,
maintenance, additions,
improvements &
replacements
Account for the disposition of
property
The nature & purpose of
depletion
The nature of & accounting for
intangibles
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 18
Acquisition cost of property, plant &
equipment
Depreciation methods
Repairs, maintenance, additions,
improvements & replacements
Disposition of assets
Intangible assets
Chapter 19
Types of partnerships
How they are formed
Accounting for initial investments
Partners compensation & allocation of
net income or loss
Financial statements for partnerships
Dissolution of a partnership
Liquidation of a partnership
Class Review Problems:
Chapter 18 – Demonstration Problem
Chapter 19 – Demonstration Problem
Textbook:
Read Chapters 18 & 19
Attendance/ Participation – 3 Pts Homework:
Chapter 18
Mastery Problem
– Page 728 – Pts.
TBD
Chapters 19
Master Problem –
Pages 771 -773–
Pts. TBD
MGMT X 423.430 (Revised 9/21/16) Page 11 of 14
Week Ten 11/30/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Define and understand
the corporate form of a
business entity.
Describe the characteristics,
formation and organization of
a corporation
Describe stockholders’ equity
and the types of capital stock
and compute dividends on
preferred stock and common
stock.
Account for capital stock
transactions
Prepare the stockholders’
equity section of a
corporation’s balance sheet.
Account for corporate income
taxes
Explain the use of the
retained earnings account
Account for dividends and
stock splits
Account for restriction of
retained earnings
Prepare a statement of
retained earnings
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Chapter 20
Forming a corporation
Organization of a corporation
Stockholders’ equity and types of
capital stock.
Capital stock transactions
Treasury stock
Stockholders’ equity section of the
balance sheet.
Chapter 21
Corporate income taxes
The retained earnings account
Dividends & stock splits
Statement of retained earnings
Class Review Problems:
Chapter 20 – Demonstration Problem
Chapter 21 – Demonstration Problem
Textbook:
Read Chapters 20 & 21
Attendance/ Participation – 3 Pts. Homework:
Chapter 20 -
Mastery Problem
– Page 814 – Pts.
TBD
Chapter 21 –
Mastery Problem
Pages 840 & 841
– Pts. TBD
Week Eleven 12/07/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
Describe & understand
how to analyze financial
statements to better
understand the
Perform horizontal & vertical analyses of the income statement & balance sheet
Before you begin this week’s Graded
Activities, complete the following:
Lecture:
Attendance/ Participation – 3 Pts. Homework:
MGMT X 423.430 (Revised 9/21/16) Page 12 of 14
information obtained
from them
Compute & explain liquidity measures Compute & explain activity measures Compute & explain profitability measures Compute & explain leverage measures Explain the components of ROA & ROE Explain the limitations of financial statement analysis.
Chapter 24
Comparative analysis
Horizontal analysis
Vertical analysis
Liquidity measures
Activity measures
Profitability measures
Leverage measures
A look ROA & ROE
Limitations of financial statement
analysis
Class review problem:
Chapter 24 – Demonstration Problem
Textbook:
Read Chapter 24
Chapter 24 -
Mastery Problem
– Pages 994 &
995 – Pts. TBD
Week Twelve 12/14/16
Course
Outcome
Instructional
Objectives
Learning
Activities
Graded
Activities
NONE
Final Exam
Before you begin this week’s Graded
Activities, complete the following:
Textbook:
Review Chapters 13 through 21
Participation – 4 Pts.
Final Exam: Chapters 13 - 21
Teaching Methodology The course will be a combination of lectures, class discussions, outside reading assignments,
and classroom activities. Lectures and discussions are used to instruct students in
accounting procedures. The student is expected to read and understand all materials
assigned. All assigned material may NOT be covered in lectures. Therefore, it is the
student’s responsibility to bring up for discussion any material(s) she/he does not completely
understand.
Students are to use their laptops during class time (excluding breaks) for class work only.
Students’ should not be responding to personal or other email, perusing the Internet,
completing homework, playing games, etc. Such actions are distracting to the professor and
other students. STUDENTS MUST TURN OFF THEIR CELL PHONES OR PUT THEM
ON VIBRATE DURING CLASS. If a student leaves class to answer a call, they will be
marked absent for the time they are out of class. NO EXCEPTIONS!
MGMT X 423.430 (Revised 9/21/16) Page 13 of 14
Grading / Assessments Assessment Items Weight %
Attendance/Participation 10%
Assignments/Homework 35%
Midterm Exam 25%
Final Exam 30%
Total 100%
Grade Percentage
A+ 97%-100%
A 94%<97%
A- 90%<94%
B+ 87%<90%
B 84%<87%
B- 80%<84%
C+ 77%<80%
C 74%<77%
C- 70%<74%
F < 70%
Incompletes: The interim grade Incomplete may be assigned when a student's work is
of passing quality, but a small portion of the course requirements are incomplete for
good cause (e.g. illness or other serious problem). It is the student’s responsibility to
discuss with the instructor the possibility of receiving an “I” grade as opposed to a non-
passing grade. The student is entitled to replace this grade by a passing grade and to
receive unit credit provided they complete the remaining coursework satisfactorily,
under the supervision of and in a time frame determined by the instructor in charge, but
in no case later than the end of the next academic quarter. At that time, the Registrar
MGMT X 423.430 (Revised 9/21/16) Page 14 of 14
will cause all remaining Incompletes to lapse to the grade "F". Note: Receiving an “I”
does not entitle a student to retake all or any part of the course at a later date.
Late Work Policy – Homework Assignments Homework assignments are due at the beginning of the next class meeting. If a student
is absent, all missed homework assignments are due at the beginning of the first class
that the student attends. Late homework may be accepted at the discretion of the
instructor.
Make-Up Policy – Quizzes, Midterm & Final Exams If a student is absent for a quiz or the mid-term exam, it is the student’s responsibility to
contact the instructor within 24 hours before or after the class time. Arrangements MAY be
made to make up a quiz or the mid-term exam upon the approval of the instructor. There
are no makeup exams for the final exam.
.
Academic Integrity Student Behavior involving cheating, copying other’s work, and plagiarism are not
tolerated and will result in disciplinary action. Students are responsible for being
familiar with the information on Student Conduct in the General Information Section of
the UCLA Extension Catalog or on the website at www.uclaextension.edu
Academic dishonesty includes, but may not be limited to: plagiarism, cheating, falsifying
records, lying, obtaining and/or distributing examination materials prior to exams without
the consent of the professor, submitting another’s work as one’s own, submitting work
completed for another course without the agreement of both professors, and helping
any other student in any act of dishonesty.
At a minimum, students who violate this policy will receive an ‘F’ on the assignment or
examination.
Smoking and e-Cigarettes
Smoking of any type, including the use of vapor devices, is not allowed in the classroom.
