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Course Objectives
1. Accounting for sales and cash
receipts.
2. Account for purchases and cash payments.
3. Analyze the net-price method of recording purchases.
4. Create special journals for sales, cash receipts,
purchases and cash payments.
5. Account for merchandise inventory.
6. Analyze the perpetual inventory methods of lifo and
moving-average.
7. Create adjustment and a worksheet for a merchandising
business.
8. Analyze the expense method of accounting for prepaid
expenses.
9. Create financial statements and prepare year-end
accounting for a merchandising business.
10. Account for accounts receivable in a merchandising
business or partnership.
11. Account for notes and interest in a merchandising
business or partnership.
12. Accounting for long-term assets.
13. Accounting for partnerships.
Class Procedures, Participation &
Grading
This class meets online, which means that you
can do your work whenever you want to. However, the same class taught in a
traditional classroom setting requires three hours of class participation
per week. Plus, if you use the old "college rule" of two hours
outside of class for every hour spent "in class", you will spend
an additional six hours working on this class, for a total of nine hours
per week.
You must frequently check the online Schedule
and Forum for daily activities and exercises. Weekly Exercises and
Bi-weekly quizzes will be conducted online, and you must complete these for
your attendance.
Grades will be based primarily on online
quizzes, and weekly exercises. There will also be three multiple choice comprehensive tests. All assignments must
be completed on time. [Note: This scenario represents the
current plan; however, the number and value of the various assignments are
subject to change by the instructor as conditions indicate.]
To be eligible for a grade of "A",
a student must meet all course requirements with a superior level of
performance. To be eligible for a grade of "B" a student
must meet all course requirements with a high level of performance.
To be eligible for a grade of "C", a student must meet all
course requirements with an acceptable level of performance.
If at any point during the semester a student
falls behind the assigned schedule the equivalent of more than one week in
the class, that will be considered to be "non-participatory", the
same as three consecutive absences in an on-campus class, and the student
will be dropped.
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