Accounting Honors

ACCOUNTING (HONORS) Instructor: Mr. Jim Bauer Email: jbauer@moeller.org Telephone: 513-791-1680 x 1911 Conference times: Typically before or after the school day (7:00 am – 7:30 am or after 3:00 pm) Availability for additional student assistance: PLEASE SCHEDULE A TIME PERIOD. Typically before or after the school day (7:00 am – 7:30 am or after 3:00 pm); m-block in room 349.

We remember what we understand. We understand what we pay attention to. We pay attention to what we want.

Edmund Blair Bolles Accounting (HON) is a one full academic credit, year long, SENIOR ONLY and highly rigorous course in financial analysis.

The course will complete an accounting cycle, i.e. analysis, recording, journalizing, posting, preparing financial statements, adjusting, and closing for a cycle. The focus will be on the corporate form of business. The purpose of accounting is to provide meaningful financial information to individuals and institutions that have an interest in the business. A prerequisite of successful completion of an advanced placement course in the junior year is required.

Students may elect to enroll (through dual enrollment) and pay for three (3) college semester credits that are transferrable to any public college in the State of Ohio through Cincinnati State and Technical College.

There are no required supplies and fees are dependent upon the student choosing to take advantage of the dual enrollment with Cincinnati State and Technical College. Typical tuition for dual enrollment was one-half of the normal tuition per semester hour. In 2013 this was sixty five dollars ($65.00) per semester hour.

Keys to academic success in Accounting (HON): This is not a class that requires proficiency in higher math. Although numbers oriented, the math is basic. What is important is the ability to organize and analyze information. Because this class is taken with some lecture and homework is not turned in for credit, a high level of self-discipline is required to successfully complete this course. You cannot afford to get behind in your assignments and to ensure this, set up a study schedule that regularly allows for work on the assigned material in a timely manner. Although the homework will not be submitted for grading, the success you will achieve on the quizzes and tests are directly related to your effort and understanding in completing your homework assignments.

RULES: Rules cannot be broken. There are no exceptions to rules.

1. RESPECT YOURSELF AND THE OTHERS IN THIS CLASSROOM. 2. NO INSULTS. PERIOD. CONSEQUENCES: There are always consequences for your behavior. Remember, you can choose your actions, but you cannot choose the consequences that result from your actions. If you want AUTHORITY to do something, you must accept the RESPONSIBILITY that comes with it.

PROCEDURES: The way we do things here. Procedures may be adjusted, "bent" if you will, as the situation warrants.

FAIRNESS: This is a relative term. The State of Ohio's Department of Education defines fairness as "Every student receiving what they need." If it’s good enough for the State of Ohio, it’s good enough for us.

CLASSROOM PROCEDURES: 1. Adhere to Moeller’s Handbook in reference to attendance, tardiness, hair and dress codes.

2. All book bags MUST be placed in front of your feet or under the chair. The aisles must be kept clear for movement.

Please, no sports bags in the class room. Please make arrangements with your coach to store these items during school.

3. The student will be in his assigned seat at the beginning tone and is not to leave his seat without permission.

4. If you are detained by another teacher/adult, PLEASE BRING A NOTE FROM THE ADULT/MAIN OFFICE. 5. If you have to use the bathroom facilities, please come to the class FIRST and receive permission from Mr. Bauer.

Permission is usually granted unless this becomes a pattern of behavior that becomes abusive.

6. To ensure the right of education for all students, please refrain from talking out in class. Statements and/or questions will be addressed by Mr. Bauer after the student has raised his hand.

NOTE: Most rules are derived from common sense and courtesy. Please use your good judgment in all matters.

LAPTOP POLICIES: Archbishop Moeller's laptop users policies will be in effect at all times. Discipline actions will be taken for abuse or misuse that could include taking away the privilege of using the computer in class or for a period of time. The Dean of Students will handle serious abuse.

1. Laptops are reserved for educational use. Laptops are a tool in instruction and are a means to an end. a. No games, movies, screensavers, or backgrounds (other than those already installed or approved) may be installed on your tablet. Although an argument may be made for eye-hand coordination practice, please refrain from game usage during class unless given specific permission by Mr. Bauer which will probably not happen.

2. Keep your hands off other students' computers and equipment. a. Do not "borrow" equipment. Do not tamper with or shut down another's computer for "fun".

3. Note-taking and Microsoft’s OneNote. a. In order for new information to enter long-term memory, studies indicate material must make sense and have meaning. Repetition, recall, and reinforcement all enable this information to enter long-term memory. As such, please uses Microsoft’s OneNote and re-organize your notes immediately after class. This will allow you time to re-arrange and "clean-up" your notes and use repetition, recall and reinforcement at the same time.

4. Stay on task. No multi-tasking with ear buds or headphones. a. Studies have proven that mullti-tasking is impossible. The brain is only designed to focus on one task at a time. So, you are not actually multi-tasking, but switching from task to task which causes each task to deteriorate quickly.

5. No text-messaging, social-networking, etc. Thank you.

6. Written assessment requirements for electronic turn-in. a. On the top of the paper, enter your full name and class section. b. Font size and type: 12 using Times New Roman (Please no "script". It is difficult to read. They don't print newspapers in script. Think about it.) c. Margins: One inch for sides, top, and bottom. I base my assessments on content NOT volume.

7. Batteries must be fully charged each day. There are a limited number of electric plugs in my classroom. Be prepared with a paper notebook if your batteries run out of power. This is your responsibility.

8. If your laptop is in need of repair, take it to the Help Center. Do not ask to leave class to take care of a problem. Please do this before or after school or during your lunch period. This is your responsibility.

Academic Violations / Step Policy reference: Cheating on any assessments will be dealt with on a situational basis and is conditional. Although I encourage collaboration, the students involved must be able to explain their discussion. If both can satisfactorily explain, this is collaboration; if one student can, but the other student cannot, then this is one student enabling another and is probably cheating. I think you know the difference. The minimum penalty of a zero will be recorded for that student(s) for that assessment or paper. All violations will adhere to Archbishop Moeller High School’s adopted step policy (please refer to the student handbook).

Grading policies: 1. The student should expect some type of assessment each class. Tests, quizzes or other types of assessments will be administered periodically covering from one to two chapters and/or other assigned or covered material.

2. Unless otherwise announced, all assessments will carry a point value equivalent to the assessment’s importance. For example, tests will have more importance than homework or quizzes and as such carry a larger point value.

3. Assessments are announced well in advance by Mr. Bauer and posted on NetMoeller. There will never be "pop" graded assessments.

4. The student is responsible for all material in the text or handouts whether that material is covered or not in class. The student is to have read the material prior to class and should ask questions over material that he is not sure of. The student is responsible for bringing all necessary materials to class for all testing.

5. TAKE NOTES from the DyKnow presentation, board/projector, your text or handouts and during class discussions.

READ your text—STUDY your notes!

6. Make Up Work: Short Term Absences (1 or 2 days) For all types of short term absences (expected, unexpected, field trips, etc), upon return to school, Moeller students are responsible for contacting their teacher to arrange make-up assignments and assessments for work that was assigned during their absence. When a student returns from an absence due to illness, family need, or other reported reason, he must acquire any missed assignment upon his return and submit it at the next class. This gives the student 1 extra day to make up work that was assigned during his absence.

For work that was assigned prior to a student’s absence, and was posted on NetMoeller prior to the absence, the student is expected to have the work ready upon his return. In cases where the illness or cause of the absence was severe, and the student was unable to complete the work for the day of his return, students are expected to email their teachers to inform them that they will be unable to have the work completed upon their return. If this is unable to happen, then students and teachers will use common sense in these situations and arrange for the work to be completed by the next class.

Absences of 3 to 9 days Additional day can be given for make-up work, at the teacher’s discretion, for any consecutive absences between 3 to 9 school days. It is at the teacher’s discretion, but students should expect pre-scheduled tests and/or quizzes to be administered the class following the student’s return. If a student feels he needs more time to prepare, then he must communicate this to the teacher earlier than the day the test/quiz is to be administered.

Consistent Absence on Days with Assessments: Based on teacher input and absence data, students who are reported to be consistently absent on the days of scheduled tests, quizzes, and other assessments will be evaluated to determine the cause of such patterns. Academic action will be based the results of such inquiries. Teacher will work with the administration to determine an appropriate course of action. It is at the teacher’s discretion as to whether a student can make up a missed assessment opportunities after 3 absences on assessment days, unless the absences are excused or there is a clinically diagnosed condition of anxiety.

Extended Absences (applies to absences over 10 days) Any situations in which there is an extended absence of 10 days or more should be coordinated through the student’s guidance counselor.

KAIROS POLICY - ABSENCES KAIROS and other retreats should treated as holistic enhancements to the academic load and done in pursuit of ‘educating for formation in faith’. Students have at least as many schools days spent on retreat to make up work for their classes, provided that is goes no further than the Friday of the week following Kairos. For assignments and assessments, even those scheduled well in advance of departure for Kairos, students are not expected to take quizzes and tests the day of their return to class. As a general rule, the teacher and student need to negotiate an appropriate schedule of due dates during the week following Kairos. It is the responsibility of the student to initiate such an arrangement with his teacher.

The grading system is based upon a proportion determined by your actual scores divided by the total possible points for that grading period. For example, if you scored a total of six hundred forty points out of a possible eight hundred points, the quarter grade would be an eighty. (640 / 800). Students are responsible for maintaining their own scores and NetMoeller will be current.

SPECIAL ASSIGNMENTS AND EXTRA CREDIT: 1. There will be at projects required during the school year. Some projects will be the result of group work. More details will be given later.

2. There will be NO EXTRA CREDIT offered or accepted.

Summary of Learning Outcomes and Academic Skills: Any introductory course of study in financial accounting that is included in the Business Transfer Module must use business-related materials to develop the following general learning outcomes and academic skills: 1. Understand the broad role that accounting information plays in the economy.

2. Understand of basic financial statements their nature, purposes and use by business decision makers.

3. Ability to use the language of accounting and apply the important concepts on which financial reporting is based.

4. Appreciation of general business concepts and processes 5. Ability to analyze the impact of basic business transactions on the financial statements of a business corporation.

6. Ability to construct basic financial statements for a simple corporate business entity.

7. Ability to evaluate the financial performance of a simple corporation on the basis of its financial statements.

Summary of Body of Knowledge Requirements: Any introductory course of study in financial accounting that is included in the Business Transfer Module must provide coverage of at least seventy percent of the following topics: I. The Environment of Accounting 1.00 The Role of Accounting in Society 1.01 Financial Information and Resource Allocation 1.02 Accounting and the Corporation 1.03 Auditing and Credibility in Reporting 1.04 Structure of the Accounting Profession 1.05 Ethics, Reputation, and Legal Liability in Accounting 1.06 Types of Business Organizations 2.00 Accounting Standards and Regulation Structures 2.01 Financial Statements and Generally Accepted Accounting Principles * 2.02 The FASB and Financial Accounting Standards 2.03 Government Oversight of Accounting and Auditing II. The Accounting Model 3.00 The Basic Corporate Financial Statements 3.01 Income Statement and Balance Sheet for Corporation* 3.02 Statement of Equity and Retained Earnings Balances * 3.03 Cash Flow Statement * 3.04 Other Elements of the Corporate Annual Report 4.00 Analysis of Business Activity 4.01 The basic accounting model (“balance sheet equation”) * 4.02 Income measurement and accrual accounting * 4.03 Impact of simple transactions on “balance sheet equation” * 4.04 Debits and credits 4.05 Accounting records (journal, ledgers, computer systems) 5.00 Preparation of Corporate Financial Statements 5.01 The accounting cycle (trial balances, adjustments)

5.02 Income statement and balance sheet 5.03 Statement of equity and retained earnings 5.04 Cash flow statement III. Accounting for Key Domains of Business Activity 6.00 Revenues and Receivables 6.01 Accounting for service and merchandise revenues 6.02 Reporting customer receivables-allowances and write-offs 7.00 Merchandising and Inventory 7.01 Accounting for the cost of purchases and sales of merchandise * 7.02 Inventory records (perpetual, periodic) 7.04 Inventory accounting methods (FIFO, LIFO, etc) * 7.05 Lower of cost or market valuation 8.00 Working Capital 8.01 Classification of current assets and current liabilities * 8.02 Management of working capital 8.03 Measures of working capital use (current ratio, etc.)

8.04 Internal control of cash 9.00 Long-Lived Assets 9.01 Acquisition cost * 9.02 Depreciation accounting and depreciation methods * 9.03 Accounting for disposition of assets 9.04 Intangible assets 10.00 Long-term Debt Financing 10.01 The nature of liabilities * 10.02 Types of long-term liabilities (long-term debt, deferred tax liabilities, pension and post-retirement benefit liabilities, contingent liabilities, leases, etc.)

10.03 Effective interest method (present value analysis) and accounting for long-term liabilities * 11.00 Equity Financing 11.01 Debt vs. equity 11.02 Types of equity (preferred, common, treasury) 11.03 Accounting for stock (issuance. dividends) * 11.04 Book value vs. market value * IV. Using Financial Statements 12.00 Analysis of Financial Statements 12.01 Objectives of financial statement analysis 12.02 Sources of company information 12.03 Financial ratios * 12.04 Earnings per share * 13.00 The Annual Report 13.01 Accounting elements of annual report 13.02 Management elements of annual report 13.03 SEC reporting requirements 14.00 Intercorporate Investments 14.01 Accounting for long-term investments 14.02 Consolidated financial statements 14.03 Purchased goodwill Note: Topics marked with an asterisk (*) are considered fundamental and essential.