Description:

Accounting theory learned through the study of accounting concepts and technical procedures will be presented in this course. Upon completion, the student should be able to solve problems in the presentation of capital structures, long-term investments, debts, leases, pensions, the analysis of financial statements, and price-level, and fair value accounting and reporting. 3 hrs./wk.

Supplies: Refer to the instructor's course syllabus for details about any supplies that may be required.

Textbook(s): For information see - http://bookstore.jccc.net

Course Fees: NONE

Course Objectives:

Upon successful completion of this course the student should be able to:

1. Analyze and record transactions in corporation formation, contractions, expansions, earnings, and dividends from transaction occurrence to statement presentation.
2. Analyze and record transactions for long-term investments and debts using appropriate procedures from transaction occurrence to statement presentation.
3. Analyze and record transactions involving pensions and leases from transaction occurrence to statement presentation.
4. Prepare a statement of cash flows with accompanying schedules.
5. Describe the concepts and procedures for using and analyzing financial statements.
6. Analyze and record transactions for accounting changes, error corrections, incomplete records, and price level and fair value accounting and reporting.

Content Outline & Competencies:

I. Corporation Accounting
   A. List and describe the characteristics of the corporate form of
organization.
   B. List and describe the rights of stockholders and the key components
of stockholders’ equity.
   C. Journalize transactions for issuing common, preferred and treasury
stock.
   D. Describe the differences between common, preferred and treasury
stock.
   E. Describe the policies used in distributing dividends.
   F. Analyze and journalize transactions for stock splits and stock
dividends. 
   G. Describe accounting and reporting for appropriated retained
earnings.
   H. Compute earnings per share in both a simple and complex capital
structure.

II. Long-Term Investments
   A. List and describe the categories of debt and equity securities.
   B. Analyze and journalize equity transactions using fair value and
equity methods.
   C. Analyze and journalize transactions for debt securities.

III. Pensions
   A. Calculate and journalize entries for pension expenses.
   B. Describe the reporting requirements for pension plans in financial
statements.

IV. Leases
   A. List and describe the criteria and procedures for capitalizing
leases by the lessee.
   B. Identify special features of lease arrangements that cause unique
accounting problems.
   C. Describe the effect of residual values, guaranteed and
non-guaranteed, on lease accounting.

V. Statement of Cash Flows
   A. Prepare a worksheet for the statement of cash flows.
   B. Identify the purpose and content of the statement of cash flows.
   C. Prepare a statement of cash flows and accompanying schedules.

VI. Accounting Changes and Error Analysis
   A. List the types of accounting changes.
   B. Prepare appropriate journal entries and reporting for changes in
accounting.
   C. Prepare journal entries to correct errors.
   D. Journalize transactions to account for price level changes.

Methods of Evaluation of Competencies:

Evaluation of student mastery of course competencies will be accomplished using the following methods:

Minimum of four exams
Evaluation of class participation
Evaluation of homework assignments
Optional projects

Grade Criteria:
 90 - 100% = A
 80 -  89% = B
 70 -  79% = C
 60 -  69% = D
  0 -  59% = F

Caveats: NONE

Disabilities:

If you are a student with a disability, and if you will be requesting accommodations, it is your responsibility to contact Access Services. Access Services will recommend any appropriate accommodations to your professor and his/her director. The professor and director will identify for you which accommodations will be arranged.

JCCC provides a range of services to allow persons with disabilities to participate in educational programs and activities. If you desire support services, contact the office of Access Services for Students With Disabilities (913) 469-8500, ext. 3521 or TDD (913) 469-3885. The Access Services office is located in the Success Center on the second floor of the Student Center.