About This Course

Welcome!

Instruction is provided through Canvas and Pearson - the course publisher.  All coursework is submitted fully online. Participation is required - that means actively completing required assignments.  Some assignments are available for a limited time so please watch the calendar.  See syllabus for class days and times. Discussions will be recorded using Zoom.  Zoom recordings will be posted for convenient viewing.  I will be presenting Zoom only on Thursdays, live with Zoom from Campus on Tuesdays.  You are invited to join us!  Additional Zoom meetings can be arranged as requested.

Watch for Announcements as I may be posting materials for classes in the announcements.  Pearson - MYAccountingLab has many lesson videos available to explain the assignments.  Please explore these and let me know if you need help or have any concerns.

The Purpose of this Class

Principles of Accounting III

This course is designed to get you comfortable with the theory of cost accounting and an analysis of accounting data as a part of the managerial process of planning, decision-making, and control. Emphasis is given to job order, process and standard cost accounting data, and the preparation and use of budgets and internal control reports necessary for making economic decisions for manufacturing businesses.

Course Pace

This course is designed to be completed in 55 hours over a 8 week period.  Reading, homework, tests and assignments will need 5-7 hours weekly to stay with the course schedule. 

The MyLab (Pearson software) is embedded in the course.  That means you will need to wait until the course opens to get registered to this MyAccountingLab classroom.  You will have limited access to the Canvas classroom until the course start date.

Prerequisites

  • Complete ACCT&201 with a C or better grade, or Instructor approval

Required Technology & Supplies

In order to be successful in Accounting Principles, you will need:

  • A Clover Park Technical College Canvas account. 
  • A desktop or laptop computer.  Pearson and Microsoft software does NOT work will on a mobile device or tablet.  
    • PC computers preferred, some program software does not function properly on a Mac computer.
  • High-speed Internet connection. You will be online a lot, so a high-speed Internet connection will make this course a smoother experience for you. 
    • Mozilla Firefox or Chrome are preferred internet browsers.  Edge does not play nice with Canvas or the publisher software.
  • Pearson MyAccountingLab Links to an external site. subscription for online homework and e-text access (see book information in syllabus)
    • Free guest access for two weeks
    • You can continue your subscription purchased for ACCT&201 if not expired
      • 2-year subscription approximately $225 and includes e-text and Student Value (looseleaf) text.
      • Materials used for ACCT&201, 202 and 203 - one purchase covers all three courses
  • Note taking tools (such as a pen and journal or notebook devoted to this class).  

Optional/Recommended Supplies

  • Flash Drive for portable file storage and backing up your files.  Recommended for all classes.
  • Some students prefer paper text - Pearson subscription includes e-text.  See link above for Value Pack with paper text.

Course Learning Outcomes

By the end of this course, you will be able to . . .

  • Identify terms and concepts related to financial and management accounting concepts; service, merchandising, and manufacturing companies; direct, indirect, and product costs; financial statements for various types of companies; and business ethics.
  • Identify terms and concepts related to process and job costing; using a job order cost system to account for materials, labor, and manufacturing overhead; calculating the value of work-in-process, finished goods inventory, and cost of goods sold; appropriate journal entries; and financial statement preparation for a manufacturing company.
  • Identify terms and concepts relating to process costing; following the flow of costs using equivalent units through the process using the LIFO, FIFO, and weighted average methods; and appropriate report preparation.
  • Identify terms and concepts relating to cost behavior patterns and sales mixes; cost-volume-profit analysis, break-even point calculation, sales needed to earn a target income and margin of safety; and income statement preparation using the absorption and contribution approach.
  • Identify terms and concepts relating to forecasting, budgets, performance reports, and responsibility centers; operating budget preparation using sensitivity analysis, a financial budget and a performance report; and service department cost allocation to production departments.
  • Identify terms and concepts relating to flexible budgets, standard costs and variances, flexible budget, income statement performance report and standard cost income statement preparation, standard cost variances analysis.
  • Prepare reports related to Activity Based Costing (ABC), Just-in-Time (JIT) Costing, Continuous Improvement and Quality Management to assist managers in making decisions.
  • Analyze reports using Relevant Information to assist managers in decision making to include short term decisions such as Special Sales Orders, Make or Buy, Outsourcing, etc. 

What will I do in the course?

Learning Activities

  • In each unit, you will have a mix of readings, short videos, and discussions.
  • For each unit, electronic homework will be completed using MyAccountingLab (Pearson software).  This will give you practice with the concepts.
  • Standardized theory tests will be taken to demonstrate knowledge of the principles.

Expectations

  • I will expect you to commit to your success by participating in this course. This means
    • communicating with me - Let me know if your have questions or need help
    • begin class prepared with materials and tools (text, access code and computer)
    • reading your text
    • keeping up with coursework
    • Checking your course/email regularly for updates and messages
  • You can expect me to
    • provide you with the necessary materials to be successful 
    • Classes will be recorded with Zoom and Posted.  Live on Campus Tuesdays.
    • Communicate!  Communication will be through email, discussion boards, videos and Zoom as needed.  I typically respond within 24 hours.
    • Keep your grade book current.  Assignments will be scored and posted within 2-3 days of due date.  Some score and post upon completion.

What will happen after I successfully complete this course?

You will continue to the next course.  See your Ed Plan for a sequence of courses.