Lession Break Down

Acc 200 Lesson Breakdown Lesson & (Quiz)

1a

CD Lesson/ (time)

HW Problems

#1 (Beginning through “General Purpose Financial Stmts.”) 49* minutes

Quiz 1 (cover 1a and 1b)

2a Quiz 2

2b Quiz 3

#1 (“Brief Review” through End) 97 minutes

Text Chap: Pages

None

-What is a business?-Kinds 1: 1-12 of businesses -Financing a 12: 587business, debt vs. equity 588 financing -Financial vs. managerial accounting -General purpose financial statements

#1, 2 ,3 moderate*

-Useful business information -Comparable and credible -The role of GAAP, SEC, FASB, AICPA, IRS -CPA's and external audits -Accounting education and careers -Legal forms of business ownership: proprietorship, partnership, corporation -Corporate governance

1: 13-21

-The general purpose financial statements -The Balance Sheet -Assets, liabilities, owners' equity defined -The Income Statement -Revenues and expenses defined

2: 32-35

-The expanded accounting equation -Relationship of financial statements -The Statement of Cash Flows -Financial statement formats

2: 32-49

*Excludes time to review Hints and Walk Throughs 1b

Topics

*indicates degree of difficulty and time required

#2 (Beginning through Prob.#5) 78 minutes

#4, 5 (light)

#2 (“Expanded Equation” through End) 68 minutes

#6,7,8 (heavy)

2: 50-51 6: 272-277 12: 587590

2: 40-41

3a Quiz 4

3b Quiz 5

4a Quiz 6

4b Quiz 7

Financial Practice Set

5a Quiz 8

5b Quiz 9

#3 (Beginning through Prob. #9) 85 minutes

#9 (moderate)

-Asset Valuation 2: 51-54 -Historical Cost Principle 3: 82-103 -Monetary Measurement Concept -Separate Entity Concept -First steps in an accounting system -Recording transactions/journal entries

#3 (“Posting to the General #10,11,12 Ledger” through End) 28 (heavy) minutes

-Steps in an accounting 3: 104-112 system, continued -Posting 2: 35-39 to the general ledger -Trial 2: 40-44 balance: What and Why? -Preparing the financial statements

#4 (Beginning through Prob. #15) 69 minutes

-Steps in an accounting system, continued -Accrual vs. cash basis accounting -Revenue recognition and matching principles -Adjusting for prepaid expenses -adjusting for unearned revenues

4: 140-144

#4 (“Unrecorded Expenses #16,17,18, and Revenues” through the 19 (heavy) End) 81 minutes

-Adjusting for unrecorded expenses and revenues -Closing the books -Computerized accounting systems -Account analysis

4: 144-151

Financial Practice Set (all) 117 minutes

Complete Practice Set (Very Heavy)

-Role of subsidiary ledgers and special journals in an accounting system -Comprehensive review of accounting system

See the Financial Practice Set

#5 (Beginning through Prob. #20) 61 minutes

#20 (light)

-Complicating revenue transactions -Accounting for sales discounts -Accounting for sales returns and allowances -Gross margin and % markup defined

7: 298-304

#5 (“Uncollectible A/R Overview” through the End) 75 minutes

#21,22,23, 24 (heavy)

-Accounting for uncollectible accounts receivable -Accounting credit card receipts

7: 304-311

#13,14, 15 (moderate)

4: 144-151

4: 157-160 3: 111-112

2: 40-43

6a Quiz 10

6b Quiz 11

#6 (Beginning through Prob. #26) 69 minutes

#6 (“Effects of Inflation” through the End) 48 minutes

#25,26 (light)

#27,28 (heavy)

Perpetual inventory accounting -Purchase discounts and returns -Perpetual inventory cost flows: specific identification, LIFO, FIFO, and moving weighted average

(Exclude periodic inventory approach)

Perpetual LIFO, FIFO and moving weighted average applications -The effects of inflation and deflation on results -Physical inventory: What and Why?

(Exclude periodic inventory approach)

8: 357-362 8: 365-370 8: 376-377

8:362-364 8: 365-370 8: 376-377

7

#7 (All) 85 minutes

Quiz 12

#29,30,31 (moderate)

Multi-step formatted income statement -Payroll taxes -Sales taxes -Other operating expenses -Internal Controls

9: 414-415 9: 422 9: 433 6: 256-264 6: 270-271 7: 303-304

8a Quiz 13

#8 (Beginning through “Subsidiary Ledger for Equipment”) 59 minutes Also do Prob. 32, parts a,b,c and e at this time. Part d is to be done with 8b.

#32 exclude Long-term or operating part d (light) assets -Accounting for acquisition -Accounting for depreciation, -Straightline and units of production methods of depreciation -Partial-year depreciation

9: 428-430 10: 464465 10: 470472 10: 474476

8b Quiz 14

9a Quiz 15

9b Quiz 16

10a Quiz 17

#8 (“Repairs, Maintenance, Improvements” through the End) 67 minutes

#32 part d, Long-term assets, 33, 34 (light) continued -Accounting for repairs, maintenance and improvements -Accounting for sale or disposal -Accounting for intangible assets and goodwill -Accounting for natural resources

10: 476477

#9 (Beginning to Prob. #36) 59 minutes

#35, 36 (moderate)

Long-term liabilities -Accounting for notes payable -Accounting for mortgage notes payable

11: 532535

#9 (Bonds Payable to the End) 91 minutes

#37, 38,39, 40, 41 (heavy)

Long-term liabilities, continued -Bonds and common bond terminology -Debt vs. equity financing -Characteristics of common and preferred stock -Accounting for the issuance of common and preferred stock -Calculating preferred dividend rights -Accounting for dividend declarations and payments

11: 538540

Introduction to financial analysis -Measures of liquidity: current and acidtest (quick) ratios -Measures of leverage: debt and debt/equity ratios -Pros and cons of leverage -Calculating % increases from year to year -Measures of management: A/R and inventory turnover and Days sales in A/R and Inventory

5: 204-213

#10 (Beginning through “Days Sales in Inventory: Analysis”) 99 minutes

#42, 43 (moderate)

Also do Prob. #42 and #43 at this time

10b No Quiz

#10 (“Measure of Profitability” to the End) 80 minutes Exclude Prob. #42 and #43

# 44, 45 (heavy)

10: 480482 10: 482486

11: 540541 (bonds issued at face value only) 12: 587593 12: 597601

7: 311-312 8: 370-371 11: 546547

Measure of profitability: 5: 208-209 EPS -Measures of stock 5: 212-214 value: book value per 9: 430-433 share and P/E ratio -Forecasting earnings: vertical analysis (commonsize income statements)

11

#11 (All) 44 minutes

Quiz 18

12a Quiz 19

#12 (Beginning through “Job Order Cost Example: Flow of Costs”) 33 minutes

#46, 47 (light)

#48, 49 (light)

Also do Prob. #49 at this time 12b Quiz 20

#12 (“Basic Journal Entries” to the End) 89 minutes Exclude Prob. #49

13a Quiz 21

#13 (Beginning through “Mixed Cost Analysis: High-Low Method”) 74 minutes

Quiz 22

#13 (“Approaches to CVP Analysis” to the End) 58 minutes

Quiz 23

Product cost accumulation methods for a manufacturing business: process cost vs. job order cost systems -Job order costing: job cost record and the flow of costs

17: 868876

15: 764767 17: 873874 21: 11521154

17: 876885

#53, 54 (moderate)

Cost behaviors with 16: 796changing volume -Variable 808 costs, fixed costs, stepped costs and mixed costs defined -Relevant range implications in analysis

#55,56,57, 58 (heavy)

Approaches to CVP analysis: graphical and equational -Determining profit or loss with changing volume -Contribution margin defined -Expanded CVP equation and applications

16: 809823

Business planning and budgeting overview -The steps in preparing an operating budget

19: 10081014

Exclude Probs. #53 and #54

14a

15: 756,758

#50,51, 52 Job order cost system's (very heavy) basic journal entries -Utilization of a job cost record -Complications in accounting for manufacturing overhead -Predetermined overhead rates and application of overhead to WIP

Also do Probs. #53 and #54 at this time 13b

Financial vs. managerial accounting -Cost terminology: product vs. period costs for merchandising and manufacturing companies -Stages of manufacturing inventory: raw materials, WIP, finished goods

#14 (Beginning through None “Sequencing of a Budget”) 53 minutes

14b Quiz 24

15a Quiz 25

#14 (“Example: Operating Budget” to the End) 72 minutes

#59,60,61, 62, 63 (very heavy)

Preparing an operating budget for a manufacturing business: sales, production, direct material purchases, direct labor and cash flow budgets -Pro-forma financial statements

19: 10141024

#15 (Beginning through “Make vs. Buy”) 79 minutes

#67 (moderate)

Non-routine business decisions -Relevant costs and revenues in decision making -Make vs. Buy decision example

15: 769773

Discontinue or add a product line -Pricing a special order -Selecting product emphasis given limited critical resources -Determining whether to further process a product

23: 12871296

Also do Prob. #67 15b No Quiz

#15 (“Discontinue vs. Add” to the End) 70 minutes Exclude Prob. #67

#64,65,66, 68 (very heavy)

19: 10361038

23: 12731286