Overview Sample - ACCT 2101
(ACCT 2101, Principles of Accounting I, Annette Maddox)
Introduction
Welcome to Principles of Accounting I, the first of two courses in basic accounting
offered by the University of Georgia’s J. M. Tull School of Accounting
and University System of Georgia Independent and Distance Learning.
A basic knowledge of accounting is practically indispensable to anyone involved
in business today. Accounting is also basic to success in other fields, for
its function is the collection, recording, and classification of information
for decision-making. Relevant, useful, and timely information is essential for
the effective management of almost any organization or endeavor.
In this course you will study a subset of the many kinds of information with
which accounting is concerned, though the principles you will learn are common
to most forms of accounting. The course focuses on the basics of financial accounting.
Financial accounting information is designed primarily for users external to
an organization, though it is also useful to the organization itself. Examples
of external users of financial accounting information are creditors, investors,
and tax administrators (government). The second course in this series deals
with managerial accounting. The primary function of managerial accounting is
the development, recording, and organization of monetary information useful
for the day-to-day management of an organization. Both courses are desirable
for anyone who must deal with business or budgets of any kind. I strongly recommend
that you proceed to the next course when you finish this one.
The primary objective of the course is to provide you with a basic knowledge
of accounting and its use in the development and interpretation of financial
statements. This is not a bookkeeping course, but you will spend significant
time at the beginning of the course mastering accounting’s basic principles
and relationships.
Preparing Assignments
By enrolling in a distance learning course, you have accepted more responsibility
for your education. The content is the same as a course offered on campus, but
most of your learning will be a direct result of your reading and the careful
working of assigned problems in the textbook.
Accounting is basically a problem-solving discipline, and the key to learning
the subject is to work problems. The importance of working chapter exercises
and problems cannot be overemphasized. Your success in this course will be directly
related to the time and effort you spend on working the assigned problems. Since
the examination questions cover many of the same concepts contained in the assigned
problems, I encourage you to be diligent in your preparation of these assignments.
Each assignment consists of readings and one or more problems related to them.
You will complete the problems and return them for grading. Please use a pencil.
Each assignment will receive a letter grade (A, B, C, D, or F) and be returned
to you. I must emphasize that the problems are self-teaching devices; it is
important that you complete them as carefully and thoroughly as possible. Be
sure you understand everything you have done. Keep in mind that you may be asked
to repeat assignments at my discretion.
All the necessary papers on which to present your solutions to the assigned
problems are found in the working papers. These papers will help set up your
problems and will shorten the time period required to solve them, as well as
assist me in evaluating your work. Please prepare your assignments as described
below:
1. No substitute text may be used. Read the text carefully before you attempt
to answer any of the assigned problems. Do not force the totals in your answer
to agree. It is more important that you work through the assignments and understand
what you are doing than for you to obtain the correct answers by forcing.
2. Be careful about neatness and accuracy, as this will assist in evaluating
your work. Be sure to show supporting work where appropriate so that I will
be able to identify areas where you may need additional assistance.
3. All questions and problems must be answered fully, displaying a knowledge
of the points involved.
4. Before sending in an assignment, look over the next assignment for any possible
questions you might like to ask me.
5. All work will be graded by me, and corrections will be indicated. Your first
duty is to study the text yourself. Aid from me must necessarily come after
you have submitted the work for each assignment.
Set a goal for yourself that establishes a schedule involving regular submission
of lessons. This will help you discipline yourself to complete the course in
a reasonable length of time and provide continuity to the material. Your lessons
will be graded and returned within a relatively short time to facilitate your
progress.
Course Materials
The textbook required for this course is Financial Accounting, 8th ed., by
Albrecht, Stice, Stice, and Skousen (2002). In addition, you will need to obtain
the Working Papers, which are designed to accompany the textbook. The working
papers consist of a set of specially designed accounting forms that you will
need to complete the assigned problems. They are a tremendous aid in structuring
the problem solutions acceptably. They are also similar to the types of paper
and forms used in the “real world” for various accounting applications.
The optional book is the Study Guide designed to accompany the textbook. This
guide provides additional exercises and examples (with solutions) that can be
extremely helpful to students earning course credit through correspondence.
It is strongly recommended that you complete the Study Guide materials corresponding
to the formal assignments. The Study Guide should be particularly helpful in
preparing for the examinations. You may also want to go to the book’s Web
site at http://albrecht.swcollege.com to obtain more information.
Examinations and Grading Policy
Your course grade will be computed according to the following weights:
Lesson Assignments 40%
Midterm Examination 30%
Final Examination 30%
When you have submitted Lessons 1–5, you are ready to request the midterm
examination. The final examination may be scheduled as soon as all of your lessons
have been submitted.
IDL policy requires that you pass the final examination in order to pass the
course, regardless of grades earned on the midterm or lessons. You are responsible
for knowing and abiding by IDL policies and procedures. See your Student
Handbook for detailed information.
Concluding Remarks
As in any distance learning course, you are the primary instructor. However,
you should not refrain from contacting me for any help you may need. I am available
to answer your questions by e-mail or phone, and IDL is dedicated to helping
you complete your intended course of study successfully.
