acco 500 compendio de principios de contabilidad ... 500... · título del curso compendio de...
TRANSCRIPT
Sistema Universitario Ana G. Méndez
School for Professional Studies Florida Campuses
Universidad del Este, Universidad Metropolitana, Universidad del Turabo
ACCO 500
COMPENDIO DE PRINCIPIOS DE CONTABILIDAD
ACCOUNTING PRINCIPLES ABRIDGED COURSE
© Sistema Universitario Ana G. Méndez, 2010
Derechos Reservados.
© Ana G. Méndez University System, 2010. All rights reserved.
ACCO 500 Accounting Principles Abridged Course 2
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
TABLA DE CONTENIDO/TABLE OF CONTENTS
Páginas/Pages
PRONTUARIO ............................................................................................................................. 3
STUDY GUIDE ........................................................................................................................... 12
WORKSHOP ONE ..................................................................................................................... 21
TALLER DOS ............................................................................................................................. 25
WORKSHOP THREE................................................................................................................ 30
TALLER CUATRO .................................................................................................................... 34
WORKSHOP FIVE/TALLER CINCO .................................................................................... 38
ANEJO A/APPENDIX A ........................................................................................................... 44
ANEJO B/APPENDIX B ............................................................................................................ 46
ANEJO C/APPENDIX C ........................................................................................................... 48
ANEJO D/ APPENDIX D .......................................................................................................... 50
ANEJO E/APPENDIX E ............................................................................................................ 52
ANEJO F/APPENDIX F ............................................................................................................ 53
ANEJO G/APPENDIX G ........................................................................................................... 54
ANEJO H/APPENDIX H ........................................................................................................... 55
ANEJO I/APPENDIX I .............................................................................................................. 57
ANEJO J/APPENDIX J ............................................................................................................. 58
ANEJO K/APPENDIX K ........................................................................................................... 59
ANEJO L/APPENDIX L ............................................................................................................ 60
ANEJO M/APPENDIX M .......................................................................................................... 61
ANEJO N/APPENDIX N ........................................................................................................... 62
ANEJO O/APPENDIX O ........................................................................................................... 63
ANEJO P/APPENDIX P ............................................................................................................ 65
ACCO 500 Accounting Principles Abridged Course 3
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Prontuario
Título del Curso Compendio de Principios de Contabilidad
Codificación ACCO 500
Duración Cinco semanas
Prerrequisito None
Descripción
Este curso nos presenta los conceptos y principios técnicos de contabilidad que determinan la
presentación y el uso de la información de contabilidad financiera. La ecuación de contabilidad y
el análisis y registro de transacciones. El ciclo de contabilidad para negocios de servicios y
compra-venta. Preparación de estados financieros: Estado de Ingresos y Gastos, Estado de
Situación, Estado de Capital y de Flujo de Efectivos y Métodos de Costear Inventario.
Objetivos Generales
Al finalizar el curso, el/la estudiante estará capacitado para:
1. Aplicar los conceptos y principios de contabilidad en la preparación y presentación de
estados financieros.
2. Analizar la información financiera y la aplicará en la toma de decisiones.
3. Evaluar diferentes métodos para la determinación del costo del inventario que se presenta en
los estados financieros de acuerdo con los principios de contabilidad generalmente aceptados.
4. Identificar fuentes de información bibliográfica y en línea disponibles y las utilizará en la
preparación de informes orales y escritos sobre temas de contabilidad financiera.
5. Analizar las consecuencias potenciales de las decisiones financieras desde el punto de vista
ético
ACCO 500 Accounting Principles Abridged Course 4
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Texto y Referencias
Kimmel, P. D., Weygandt, J. J., Kieso, & Donald, E. (2009). Financial Accounting: Tools for
Business Decision Making. (5th ed.). New York: Wiley and Sons, Inc.
Libby, R., Libby, P., Phillips, F, & Whitecotton, S.M. (2009). Principles of Accounting w/Annual
Report. (1st ed.). Boston: McGraw-Hill Irwin.
Warren, Carl S., Reeve, James M., & Fess, Philip E. (2005). Financial
and Managerial Accounting. (14th ed.) Ohio: Thomson Learning, South Western.
Williams, J., Haka, S., Bettner, M., & Carcello, J. (2010). Financial Accounting. (14th ed.).
Boston: McGraw-Hill Irwin.
E-Libros
Camacho Miñano, M. (2006). Análisis de la cuenta de pérdidas y ganancias: nuevas tendencias
armonizadoras en el marco de la contabilidad financiera. Universidad Complutense de
Madrid.
Gómez-Bezares, F., Madariaga, J. A., & Santibáñez, J. (2004). El estado de fuentes y empleos de
fondos: una herramienta imprescindible en el análisis financiero. Ediciones Deusto -
Planeta de Agostini Profesional y Formación S.L.
Uribarri, J. (2004). Introducción a un análisis financiero: las herramientas y su utilización.
Ediciones Deusto - Planeta de Agostini Profesional y Formación S.L.
Criterios de Evaluación
Asignaciones y problemas 50 puntos
Exámen parcial 100 puntos
Trabajo de Investigación 200 puntos (incluye presentación oral)
Portafolio 50 puntos
ACCO 500 Accounting Principles Abridged Course 5
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Asistencia y Participación 100 puntos
Total 500 puntos
Curva de evaluación
100-90 A 89-80 B 79-70 C 69-60 D 59-00 F
Descripción de las Normas del Curso
1. Este curso sigue el modelo “Discipline-Based Dual Language Immersion Model®” del
Sistema Universitario Ana G. Méndez, el mismo está diseñado para promover el
desarrollo de cada estudiante como un profesional bilingüe. Cada taller será facilitado
en inglés y español, utilizando el modelo 50/50. Esto significa que cada taller deberá ser
conducido enteramente en el lenguaje especificado. Los lenguajes serán alternados en
cada taller para asegurar que el curso se ofrece 50% en inglés y 50% en español. Para
mantener un balance, el módulo debe especificar que se utilizarán ambos idiomas en el
quinto taller, dividiendo el tiempo y las actividades equitativamente entre ambos idiomas.
Si un estudiante tiene dificultad en hacer una pregunta en el idioma especificado, bien
puede escoger el idioma de preferencia para hacer la pregunta. Sin embargo, el facilitador
deberá contestar la misma en el idioma designado para ese taller. Esto deberá ser una
excepción a las reglas pues es importante que los estudiantes utilicen el idioma
designado. Esto no aplica a los cursos de lenguaje que deben ser desarrollados en el
idioma propio todo en inglés o todo en español según aplique.
2. El curso es conducido en formato acelerado, eso requiere que los estudiantes se preparen
antes de cada taller de acuerdo al módulo. Cada taller requiere un promedio de diez (10)
horas de preparación y en ocasiones requiere más.
ACCO 500 Accounting Principles Abridged Course 6
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
3. La asistencia a todos los talleres es obligatoria. El estudiante que se ausente al taller
deberá presentar una excusa razonable al facilitador. El facilitador evaluará si la
ausencia es justificada y decidirá como el estudiante repondrá el trabajo perdido, de ser
necesario. El facilitador decidirá uno de los siguientes: permitirle al estudiante reponer el
trabajo o asignarle trabajo adicional en adición al trabajo a ser repuesto.
Toda tarea a ser completada antes del taller deberá ser entregada en la fecha asignada. El
facilitador ajustará la nota de las tareas repuestas.
4. Si un estudiante se ausenta a más de un taller el facilitador tendrá las siguientes
opciones:
a. Si es a dos talleres, el facilitador reducirá una nota por debajo basado en la
nota existente.
b. Si el estudiante se ausenta a tres talleres, el facilitador reducirá la nota a dos
por debajo de la nota existente.
5. La asistencia y participación en clase de actividades y presentaciones orales es
extremadamente importante pues no se pueden reponer. Si el estudiante provee una
excusa válida y verificable, el facilitador determinará una actividad equivalente a evaluar
que sustituya la misma. Esta actividad deberá incluir el mismo contenido y componentes
del lenguaje como la presentación oral o actividad a ser repuesta.
6. En actividades de grupo, el grupo será evaluado por su trabajo final. Sin embargo, cada
miembro de grupo deberá participar y cooperar para lograr un trabajo de excelencia, pero
recibirán una calificación individual.
7. Se espera que todo trabajo escrito sea de la autoría de cada estudiante y no plagiado. Se
debe entender que todo trabajo sometido esta citado apropiadamente o parafraseado y
ACCO 500 Accounting Principles Abridged Course 7
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
citado dando atención al autor. Todo estudiante debe ser el autor de su propio trabajo.
Todo trabajo que sea plagiado, copiado o presente trazos de otro será calificado con cero.
El servicio de SafeAssign TM de Blackboard será utilizado por los facilitadores para
verificar la autoría de los trabajos escritos de los estudiantes. Es responsabilidad del
estudiante el leer la política de plagio de su universidad. Si usted es estudiante de UT,
deberá leer la Sección 11.1 del Manual del Estudiante. Si es estudiante de UMET y UT,
refiérase al Capítulo 13, secciones 36 y 36.1 de los respectivos manuales.
Se espera un comportamiento ético en todas las actividades del curso. Esto implica que
TODOS los trabajos tienen que ser originales y que de toda referencia utilizada deberá
indicarse la fuente, bien sea mediante citas o bibliografía. No se tolerará el plagio y, en
caso de que se detecte casos del mismo, el estudiante se expone a recibir cero en el
trabajo y a ser referido al Comité de Disciplina de la institución. Los estudiantes deben
observar aquellas prácticas dirigidas a evitar incurrir en el plagio de documentos y
trabajos.
8. Si el facilitador hace cambios al módulo o guía de estudio, deberá discutirlos y entregar
copia a los estudiantes por escrito al principio del primer taller.
9. El facilitador establecerá los medios para contactar a los estudiantes proveyendo su
correo electrónico, teléfonos, y el horario disponibles.
10. EL uso de celulares está prohibido durante las sesiones de clase; de haber una necesidad,
deberá permanecer en vibración o en silencio.
11. La visita de niños y familiares no registrados en el curso no está permitida en el salón de
clases.
ACCO 500 Accounting Principles Abridged Course 8
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
12. Todo estudiante está sujeto a las políticas y normas de conducta y comportamiento que
rigen al SUAGM y el curso.
Nota: Si por alguna razón no puede acceder las direcciones electrónicas ofrecidas en el módulo,
no se limite a ellas. Existen otros motores de búsqueda y sitios Web que podrá utilizar para la
búsqueda de la información deseada. Entre ellas están:
• www.google.com
• www.ask.com
• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• http://www.apastyle.org/
Para comprar o alquilar libros de texto o referencias nuevas o usadas puede visitar:
• http://www.chegg.com/ (alquiler)
• http://www.bookswim.com/ (alquiler)
• http://www.allbookstores.com/ (compra)
• http://www.alibris.com/ (compra)
Estos son sólo algunas de las muchas compañías donde puede comprar o alquilar libros.
El/la facilitador(a) puede realizar cambios a las direcciones electrónicas y/o añadir algunas de ser
necesario.
ACCO 500 Accounting Principles Abridged Course 9
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Nota: Del facilitador o el estudiante requerir o desear una investigación o la administración de
cuestionarios o entrevistas, deben referirse a las normas y procedimientos de la Oficina de
Cumplimiento y solicitar su autorización. Para acceder a los formularios de la Oficina de
Cumplimiento pueden visitar este enlace
http://www.suagm.edu/ac_aa_re_ofi_formularios.asp y seleccionar los formularios que necesite.
Además de los formularios el estudiante/facilitador puede encontrar las instrucciones para la
certificación en línea. Estas certificaciones incluyen: IRB Institutional Review Board, Health
Information Portability Accounting Act (HIPAA), y Responsibility Conduct for Research Act
(RCR).
De tener alguna duda, favor de comunicarse con la Coordinadoras Institucionales o a la Oficina
de Cumplimiento a los siguientes teléfonos:
Sra. Evelyn Rivera Sobrado, Directora Oficina de Cumplimiento
Tel. (787) 751-0178 Ext. 7196
Srta. Carmen Crespo, Coordinadora Institucional Cumplimiento – UMET
Tel. (787) 766-1717 Ext. 6366
Sra. Josefina Melgar, Coordinadora Institucional Cumplimiento – Turabo
Tel. (787) 743-7979 Ext.4126
Dra. Rebecca Cherry, Coordinadora Institucional Cumplimiento – UNE
Tel. (787) 257-7373 Ext. 3936
Filosofía y Metodología Educativa
ACCO 500 Accounting Principles Abridged Course 10
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Este curso está basado en la teoría educativa del Constructivismo. Constructivismo es una
filosofía de aprendizaje fundamentada en la premisa, de que, reflexionando a través de nuestras
experiencias, podemos construir nuestro propio conocimiento sobre el mundo en el que vivimos.
Cada uno de nosotros genera nuestras propias “reglas “y “métodos mentales” que utilizamos
para darle sentido a nuestras experiencias. Aprender, por lo tanto, es simplemente el proceso de
ajustar nuestros modelos mentales para poder acomodar nuevas experiencias. Como
facilitadores, nuestro enfoque es el mantener una conexión entre los hechos y fomentar un nuevo
entendimiento en los estudiantes. También, intentamos adaptar nuestras estrategias de enseñanza
a las respuestas de nuestros estudiantes y motivar a los mismos a analizar, interpretar y predecir
información. Existen varios principios para el constructivismo, entre los cuales están:
1. El aprendizaje es una búsqueda de significados. Por lo tanto, el aprendizaje debe comenzar
con situaciones en las cuales los estudiantes estén buscando activamente construir un
significado.
2. Significado requiere comprender todas las partes. Y, las partes deben entenderse en el
contexto del todo. Por lo tanto, el proceso de aprendizaje se enfoca en los conceptos
primarios, no en hechos aislados.
3. Para enseñar bien, debemos entender los modelos mentales que los estudiantes utilizan para
percibir el mundo y las presunciones que ellos hacen para apoyar dichos modelos.
4. El propósito del aprendizaje, es para un individuo, el construir su propio significado, no sólo
memorizar las contestaciones “correctas” y repetir el significado de otra persona. Como la
educación es intrínsecamente interdisciplinaria, la única forma válida para asegurar el
aprendizaje es hacer del avalúo parte esencial de dicho proceso, asegurando que el mismo
provea a los estudiantes con la información sobre la calidad de su aprendizaje.
ACCO 500 Accounting Principles Abridged Course 11
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
5. La evaluación debe servir como una herramienta de auto-análisis.
6. Proveer herramientas y ambientes que ayuden a los estudiantes a interpretar las múltiples
perspectivas que existen en el mundo.
7. El aprendizaje debe ser controlado internamente y analizado por el estudiante.
ACCO 500 Accounting Principles Abridged Course 12
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
STUDY GUIDE
Course Title Accounting Principles Abridged Course
Code ACCO 500
Time Length Five Weeks
Prerequisite None
Description
This course presents the theory and application of accounting principles and concepts that
determine the preparation and reporting of financial accounting. Accounting equation. Analysis
and recording of business transactions. Accounting cycle in service and merchandising
enterprises. The preparation of financial statements: Income Statement, Balance Sheet, Capital
Statement, Cash Flows Statement. Methods of inventory valuation according to GAAP.
General Objectives
At the end of the course the student will be able to:
1. Apply accounting concepts and principles in the preparation and presentation of financial
statements.
2. Analyze financial information and its application in decision making.
3. Assess different methods for the determination of inventory values to be presented in
financial statements, according to GAAP.
4. Identify bibliographical and internet resources in the preparation of oral and written
reports directly related to managerial accounting.
5. Analyze potential consequences of decision making from an ethical point of view.
Textbooks and Resources
ACCO 500 Accounting Principles Abridged Course 13
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Kimmel, P. D., Weygandt, J. J., Kieso, & Donald E. (2009). Financial Accounting: Tools for
Business Decision Making. (5th ed.). New York: Wiley and Sons, Inc.
Libby, R., Libby, P., Phillips, F, & Whitecotton, S.M. (2009). Principles of Accounting w/Annual
Report. (1st ed.). Boston: McGraw-Hill Irwin.
Warren, C S., Reeve, J.M., & Fess, P. E. (2005). Financial
and Managerial Accounting. (14th ed.) Ohio: Thomson Learning, South Western.
Williams, J., Haka, S., Bettner, M., & Carcello, J. (2010). Financial Accounting. (14th ed.).
Boston: McGraw-Hill Irwin.
E-Books
Camacho Miñano, M. (2006). Análisis de la cuenta de pérdidas y ganancias: nuevas tendencias
armonizadoras en el marco de la contabilidad financiera. Universidad Complutense de
Madrid.
Gómez-Bezares, F., Madariaga, J. A., & Santibáñez, J. (2004). El estado de fuentes y empleos de
fondos: una herramienta imprescindible en el análisis financiero. Ediciones Deusto -
Planeta de Agostini Profesional y Formación S.L.
Uribarri, J. (2004). Introducción a un análisis financiero: las herramientas y su utilización.
Ediciones Deusto - Planeta de Agostini Profesional y Formación S.L.
Evaluation Criteria
Assignments and problems 50 points
Partial exams 100 points
Research Study 200 points (including oral presentation)
Portfolio 50 points
ACCO 500 Accounting Principles Abridged Course 14
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Attendance and Participation 100 points
Total 500 points
Evaluation curve
100-90 A 89-80 B 79-70 C 69-60 D 59-00 F
Description of course policies
1. This course follows the Sistema Universitario Ana G. Méndez Discipline-Based Dual
Language Immersion Model® designed to promote each student’s development as a Dual
Language Professional. Workshops will be facilitated in English and Spanish, strictly using
the 50/50 model. This means that each workshop will be conducted entirely in the language
specified. The language used in the workshops will alternate to insure that 50% of the course
will be conducted in English and 50% in Spanish. To maintain this balance, the course
module may specify that both languages will be used during the fifth workshop, dividing that
workshop’s time and activities between the two languages. If students have difficulty with
asking a question in the target language in which the activity is being conducted, students
may choose to use their preferred language for that particular question. However, the
facilitator must answer in the language assigned for that particular day. This should only be
an exception as it is important for students to use the assigned language. The 50/50 model
does not apply to language courses where the delivery of instruction must be conducted in
the language taught (Spanish or English only).
ACCO 500 Accounting Principles Abridged Course 15
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
2. The course is conducted in an accelerated format and requires that students prepare in
advance for each workshop according to the course module. Each workshop requires an
average ten hours of preparation but could require more.
3. Attendance at all class sessions is mandatory. A student that is absent to a workshop must
present the facilitator a reasonable excuse. The facilitator will evaluate if the absence is
justified and decide how the student will make up the missing work, if applicable. The
facilitator will decide on the following: allow the student to make up the work, or allow the
student to make up the work and assign extra work to compensate for the missing class time.
Assignments required prior to the workshop must be completed and turned in on the assigned
date. The facilitator may decide to adjust the grade given for late assignments and make-up
work.
4. If a student is absent to more than one workshop the facilitator will have the following
options:
a. If a student misses two workshops, the facilitator may lower one grade based on
the students existing grade.
b. If the student misses three workshops, the facilitator may lower two grades
based on the students existing grade.
5. Student attendance and participation in oral presentations and special class activities are
extremely important as it is not possible to assure that they can be made up. If the student
provides a valid and verifiable excuse, the facilitator may determine a substitute evaluation
activity if he/she understands that an equivalent activity is possible. This activity must
include the same content and language components as the oral presentation or special activity
that was missed.
ACCO 500 Accounting Principles Abridged Course 16
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
6. In cooperative activities the group will be assessed for their final work. However, each
member will have to collaborate to assure the success of the group and the assessment will be
done collectively as well as individually.
7. It is expected that all written work will be solely that of the student and should not be
plagiarized. That is, the student must be the author of all work submitted. All quoted or
paraphrased material must be properly cited, with credit given to its author or publisher. It
should be noted that plagiarized writings are easily detectable and students should not risk
losing credit for material that is clearly not their own. SafeAssignTM, a Blackboard
plagiarism deterrent service, will be used by the facilitators to verify students’ ownership of
written assignments. It is the student’s responsibility to read the university’s plagiarism
policy. If you are a UT student, read Section 11.1 of the Student Manual, and if you belong
to UMET or UNE, refer to Chapter 13, Sections 36 and 36.1 of the respective manuals.
Ethical behavior is expected from the students in all course related activities. This means
that ALL papers submitted by the student must be original work and that all references used
will be properly cited or mentioned in the bibliography. Plagiarism will not be tolerated and,
in case of detecting an incidence, the student will obtain a zero in the assignment or activity
and could be referred to the Discipline Committee.
8. If the Facilitator makes changes to the study guide, such changes should be discussed with
and given to students in writing at the beginning of the first workshop.
9. The facilitator will establish a means of contacting students by providing an email address,
phone number, hours to be contacted and days.
10. The use of cellular phones is prohibited during sessions; if there is a need to have one, it must
be on vibrate or silent mode during class session.
ACCO 500 Accounting Principles Abridged Course 17
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
11. Children or family members that are not registered in the course are not allowed to the
classrooms.
12. All students are subject to the policies regarding behavior in the university community
established by the institution and in this course.
Note: If for any reason you cannot access the URL’s presented in the module, do not stop your
investigation. There are many search engines and other links you can use to search for
information. These are some examples:
• www.google.com
• www.ask.com
• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• www.google.com
• www.ask.com
• www.pregunta.com
• www.findarticles.com
• www.bibliotecavirtualut.suagm.edu
• www.eric.ed.gov/
• www.flelibrary.org/
• http://www.apastyle.org/
To buy or rent new or used textbooks or references you can visit:
ACCO 500 Accounting Principles Abridged Course 18
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
• http://www.chegg.com/ (rent)
• http://www.bookswim.com/ (rent)
• http://www.allbookstores.com/ (buy)
• http://www.alibris.com/ (buy)
The facilitator may make changes or add additional web resources if deemed necessary.
Note: If the facilitator or the student is required or wants to perform a research or needs to
administer a questionnaire or an interview, he/she will need to refer to the norms and procedures
of the Institutional Review Board Office (IRB) and ask for authorization. To access the forms
from the IRB Office or for additional information, visit the following link:
http://www.suagm.edu/ac_aa_re_ofi_formularios.asp and select the forms needed.
Furthermore, in this website the student/facilitator will find instructions for several online
certifications related to IRB processes. These certifications include: IRB Institutional Review
Board, Health Information Portability Accounting Act (HIPAA), y Responsibility Conduct for
Research Act (RCR).
If you have any question, please contact the following Institutional Coordinators:
Mrs. Evelyn Rivera Sobrado, Director of IRB Office (PR)
Tel. (787) 751-0178 Ext. 7196
Miss. Carmen Crespo, IRB Institutional Coordinator– UMET
Tel. (787) 766-1717 Ext. 6366
Sra. Josefina Melgar, IRB Institutional Coordinator – Turabo
Tel. (787) 743-7979 Ext.4126
Rebecca Cherry, Ph.D., IRB Institutional Coordinator – UNE
Tel. (787) 257-7373 Ext. 3936
ACCO 500 Accounting Principles Abridged Course 19
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Teaching Philosophy and Methodology
This course is grounded in the learning theory of Constructivism. Constructivism is a
philosophy of learning founded on the premise that, by reflecting on our experiences, we
construct our own understanding of the world in which we live.
Each of us generates our own “rules” and “mental models,” which we use to make sense of
our experiences. Learning, therefore, is simply the process of adjusting our mental models to
accommodate new experiences. As teachers, our focus is on making connections between facts
and fostering new understanding in students. We will also attempt to tailor our teaching
strategies to student responses and encourage students to analyze, interpret and predict
information.
There are several guiding principles of constructivism:
1. Learning is a search for meaning. Therefore, learning must start with the issues around
which students are actively trying to construct meaning.
2. Meaning requires understanding wholes as well as parts. And parts must be understood in
the context of wholes. Therefore, the learning process focuses on primary concepts, not
isolated facts.
3. In order to teach well, we must understand the mental models that students use to
perceive the world and the assumptions they make to support those models.
4. The purpose of learning is for an individual to construct his or her own meaning, not just
memorize the "right" answers and regurgitate someone else's meaning. Since education is
inherently interdisciplinary, the only valuable way to measure learning is to make the
assessment part of the learning process, ensuring it provides students with information on
the quality of their learning.
ACCO 500 Accounting Principles Abridged Course 20
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
5. Evaluation should serve as a self-analysis tool.
6. Provide tools and environments that help learners interpret the multiple perspectives of
the world.
7. Learning should be internally controlled and mediated by the learner.
ACCO 500 Accounting Principles Abridged Course 21
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Workshop One
Specific Objectives:
At the end of the workshop, the student would be qualified to:
1. Identify the users and uses of accounting information.
2. Describe the content and purpose of each of the financial statements.
3. Explain the three principal types of business activity.
4. Identify and understand the classified balance sheet and the statement of cash flows.
5. Explain the meaning of Generally Accepted Accounting Principles (GAAP).
Language Objectives:
Students will:
1. Use cooperative learning strategies to analyze and discuss a topic.
2. Use the reading process effectively.
3. Write a reflective diary using appropriate vocabulary, grammar, and style.
Electronic Links (URLs):
Primary Types of Business Organizations
http://www.trcb.com/business/business-startup-basics/primary-types-of-business-organizations-
221.htm
Comparison of Three Primary Types of Business Organizations
http://www.trcb.com/business/business-startup-basics/comparison-of-three-primary-types-of-
business-organizations-222.htm
Users of Accounting & Financial Information - External Users Vs. Internal Users
http://www.associatedcontent.com/article/961860/users_of_accounting_financial_information.ht
ml?cat=3
ACCO 500 Accounting Principles Abridged Course 22
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Accounting Information: Users and Uses
http://www.scribd.com/doc/27950217/Accounting-Information-Accounting-Information-Users-
and-Uses
Introduction to Transaction Analysis: The Basic Accounting Equation
http://www.moneyinstructor.com/lesson/accountingtransaction.asp
Effect on the Fundamental Accounting Equation
http://www.futureaccountant.com/accounting-process/study-notes/transaction-accounting-
equation-effect.php
The Recording Process
http://www.dksproductions.com/recordingprocess.html
Bean Counter's Accounting and Bookkeeping "Cheat Sheet"
http://www.dwmbeancounter.com/tutorial/DrCrTChart.html
Steps in the Recording Process in Business
http://hubpages.com/hub/STEPS-IN-THE-RECORDING-PROCESS-IN-BUSINESS
Accounting Journal Entries
http://accountinginfo.com/study/je/je-01.htm
Assignments before Workshop One:
1. Read the recommended URL’s, textbooks and other reference materials. Pay close
attention to the rubrics in the Appendix section. These rubrics will be used to assess your
knowledge.
2. Answer and submit the following questions:
a. Describe the three primary forms of business organization and list advantages and
disadvantages of each.
ACCO 500 Accounting Principles Abridged Course 23
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
b. Identify the users of accounting information. How do they use this information?
c. Describe the Content and Purpose of Each of the Financial Statements
d. Identify sections of a classified balance sheet. Explain the differences between
current and long-term assets and liabilities. Identify accounts that fit into each
section.
e. Define liquidity and solvency. Identify and compute ratios for analyzing a firm's
liquidity and solvency. How are these ratios interpreted?.
f. What are the Generally Accepted Accounting Principles (GAAP)? Name the U.S. and
international standard-setting bodies that establish these principles.
g. Define and explain the significance of relevance, reliability, comparability, and
consistency.
3. The facilitator will assign exercises related with the following subjects:
Financial Statements and the Accounting Information System.
4. Fill out the course expectations form (see Appendix L).
Activities:
1. The facilitator and the students will introduce themselves by engaging in an icebreaking
activity suggested by the facilitator.
2. The facilitator will discuss the class objectives and will help select the student
representative. He/she will also verify that all students are in the right class.
3. The facilitator will divide the class into groups of three students to complete the
following activity:
ACCO 500 Accounting Principles Abridged Course 24
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Go to http://www.bized.co.uk/learn/accounting/infosystems/bait/work01.htm and
complete the interactive worksheet. Once you have completed this exercise you should be
able to identify:
a. Who uses accounting information, and why.
b. The difference between financial accounting and management accounting.
4. The facilitator will discuss the different types of financial statements with emphasis on its
content and purpose.
5. Groups will work in collaborative learning teams with problems related with:
Financial Statements and the Accounting Information System.
6. The facilitator will explain the assignments to be completed before workshop two.
7. The facilitator will assign the corporations to be analyzed for the final research project
according to the Appendix P. The written report will be in English and the presentation in
Spanish. Additional information will be offered by the facilitator.
Assessment:
Each student will be assessed based on:
1. Appendix B rubric for class participation.
2. Appendix C for oral discussion.
3. Appendix O for the reflexive diary.
ACCO 500 Accounting Principles Abridged Course 25
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Taller Dos
Objetivos Específicos:
Al finalizar el Taller, el/la estudiante estará capacitado/a para:
1. Distinguir entre los diferentes tipos de métodos de reconocimiento de ingresos:
contabilidad a base de acumulados y contabilidad a base de efectivos.
2. Identificar los tipos de cuentas que deben ser ajustadas y explicar el proceso de ajuste,
3. Explicar el propósito de los procesos.de cierre de cuentas.
4. Describir el ciclo de contabilidad.
5. Identificar y diferenciar una empresa de servicio e intermediaria.
6. Distinguir entre un estado de ingresos de un simple paso y múltiples pasos.
7. Registrar transacciones de compras y ventas bajo el sistema perpetuo de inventario.
8. Determinar el costo de los bienes vendidos bajo el sistema de inventario periódico.
9. Diferenciar entre un sistema perpetuo de inventario y sistema de inventario periódico.
10. Explicar las bases de contabilidad para inventarios de acuerdo a GAAP.
11. Explicar el estado financiero y los efectos tributarios de los diferentes métodos de costeo
de inventario.
12. Calcular e interpretar el índice de rotación de inventario.
Objetivos del Lenguaje:
1. Los estudiantes utilizarán estrategias efectivas para llevar a cabo discusiones formales e
informales incluyendo actividades de reflexión y análisis, respetando diversos puntos de
vista.
2. Los estudiantes utilizarán el proceso de lectura efectivamente para comprender y aplicar
los conceptos estudiados durante el taller.
ACCO 500 Accounting Principles Abridged Course 26
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
3. Los estudiantes utilizarán organizadores gráficos, de manera efectiva, para expresar sus
ideas oralmente en español.
Enlaces Electrónicos (URLs):
Ingresos Ordinarios
http://www.icesi.edu.co/blogs/niffxbrl/2009/03/14/ingresos-ordinarios/
Análisis e interpretación de los Estados Financieros
http://www.gestiopolis.com/recursos2/documentos/fulldocs/fin/anainesfinhtm.htm
Norma Internacional de Contabilidad Nº 18 - Ingresos
http://cpn.mef.gob.pe/cpn/Libro3/nics/NIC18_04.pdf
Principios de Contabilidad
http://www.accountingcoach.com/online-accounting-course/09Xpg01.html
Principio de Reconocimiento de Ingresos
http://accountinginfo.com/study/fs/revenue-101.htm
Contabilidad del Efectivo o Contabilidad a Base de Acumulados
http://www.content4reprint.com/view/spanish-63517.htm
Catálogo de Términos Contables
http://www.eumed.net/cursecon/dic/ctc/index.htm
Ajuste de registros en Contabilidad
http://www.college-cram.com/study/accounting/accounting-cycle/adjusting-entries-in-
accounting/
Balance de Comprobación Ajustado
http://www.eco-
finanzas.com/diccionario/B/BALANZA_DE_COMPROBACION_AJUSTADA.htm
ACCO 500 Accounting Principles Abridged Course 27
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Contabilidad en Empresas Intermediarias de Mercancía
http://simplestudies.com/accounting-in-merchandising-companies.html
Características y sistemas de valuación de inventarios de mercancías
http://www.gestiopolis.com/canales/financiera/articulos/14/inventarios.htm
El inventario
http://www.monografias.com/trabajos10/inve/inve.shtml
Asignaciones antes del Taller Dos:
1. Explore y prepare para discutir en clase los enlaces relacionados a:
Tipos de métodos de reconocimiento de ingresos.
Principio de Reconocimiento de Ingresos: Contabilidad del Efectivo (cash basis of
accounting) y Contabilidad a Base de Acumulados (accrual basis of accounting).
Balance de Comprobación Ajustado.
2. El facilitador asignará ejercicios relacionados con los siguientes temas:
Contabilidad del Efectivo (cash basis of accounting), Contabilidad a Base de Acumulados
(accrual basis of accounting), el Estado de Ingresos de Múltiple pasos y Análisis del
Inventario.
3. Continúe trabajando con su portafolio.
Actividades:
1. El facilitador comenzará la clase con un breve repaso.
2. El facilitador recogerá la asignación para este taller y se discutirán las preguntas
asignadas.
3. Los estudiantes formarán grupos de tres para analizar y discutir por lo menos dos
problemas relacionados con los siguientes temas:
ACCO 500 Accounting Principles Abridged Course 28
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Operaciones de Mercadería y el Estado de Ingresos de Múltiple pasos así como Análisis
del Inventario.
4. Los estudiantes se reunirán en grupo de a tres para analizar y discutir el siguiente caso:
Los estados financieros del reporte Anual de Target Corporation. La información la podrá
encontrar utilizando el siguiente enlace: http://www.target.com. Revise en la página web:
Company Info, Financial Info y finalmente Annual Reports & Other Financial
Statements.
El análisis y discusión se hará sobre la base de las siguientes preguntas:
a. ¿Cuál es la fecha de los estados financieros?
b. ¿Cuál es el titulo exacto del Estado de Ingresos de Target?
c. ¿Cuál de las cuentas encontradas en el Estado de Ingresos y Balance General (Estado
de la Situación Financiera) de Target han sido ajustadas?
d. ¿Cuál de las cuentas encontradas en el Estado de Ingresos y Balance General han sido
creadas como resultado de los ajustes de registro?
e. ¿Cuál es el nombre de la firma de contabilidad que condujo la auditoría externa de
Target?
f. ¿Qué significa la palabra “consolidados” incluida en los títulos de los estados
financieros?
5. Los Grupos presentarán un reporte preliminar sobre el proyecto que se presentao en el
taller cinco. El facilitador proveerá guía y contestará las preguntas de los alumnos.
6. Prepare un mapa conceptual sobre uno de los temas discutidos en clase. El facilitador
puede sugerir un tema para esta actividad.
7. Los estudiantes llenarán su diario de reflexivo (ver Anejo O).
ACCO 500 Accounting Principles Abridged Course 29
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
8. Explicación de las tareas a ser completadas antes del Taller Tres.
Avalúo:
1. El Anejo B se utilizará para evaluar la participación en clase.
2. El Anejo A se utilizará para evaluar el trabajo escrito.
3. El Anejo C se utilizará para evaluar la discusión oral.
ACCO 500 Accounting Principles Abridged Course 30
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Workshop Three
Specific Objectives:
At the end of the workshop, the student would be qualified to:
1. Describe the major characteristics of a corporation.
2. Define and compare the different types of stocks.
3. Register transactions related with the stockholders’ equity.
4. Prepare the stockholders’ equity.
5. Define treasury stocks and their purposes.
6. Compare the effect of stock dividends and stock split.
7. Identify the items that affect Retained Earnings
8. Indicate the usefulness of the statement of cash flows.
9. Differentiate between investments transactions and financing transactions.
10. Prepare a statement of cash flows using the indirect method.
11. Prepare a statement of cash flows using the direct method.
Language Objectives:
Students will:
1. Express their ideas in spoken English effectively using graphic organizers.
2. Develop ideas to solve problems in an effective way.
3. Summarize main ideas using correct grammar and spelling in English after reading a
selection.
Electronic Links (URLs):
Understanding Financial Markets & Instruments
http://www.eagletraders.com/books/afm/afm3.htm
ACCO 500 Accounting Principles Abridged Course 31
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Stocks Basics: Different Types Of Stocks
http://www.investopedia.com/university/stocks/stocks2.asp
The Different Types of Stock Markets
http://ezinearticles.com/?The-Different-Types-of-Stock-Markets&id=348621
Transactions Affecting Stockholders Equity
http://accounting-financial-tax.com/2009/05/transactions-affecting-stockholders-equity/
Stockholders' Equity
http://www.wileyifrs.com/International_Accounting_Convergence/Stockholders%27_Equity
Accounting for Stock Transactions
http://www.cliffsnotes.com/study_guide/Accounting-for-Stock-Transactions.topicArticleId-
21248,articleId-21193.html
Treasury Stock (Treasury Shares)
http://www.investopedia.com/terms/t/treasurystock.asp
Treasury Stock
http://beginnersinvest.about.com/od/analyzingabalancesheet/a/treasury-stock.htm
Does a stock dividend dilute the price per share as would a forward stock split?
http://www.investopedia.com/ask/answers/06/stockdividendvsstocksplit.asp
Stock Dividends and Splits
http://www.finweb.com/investing/stock-dividends-and-splits.html
Cash Flow Statement Example-Direct and Indirect Method
http://www.accountingformanagement.com/preparation_of_statement_of_cash_flows.htm
How To Prepare A Cash Flow Statement
http://www.esmalloffice.com/SBR_template.cfm?DocNumber=PL12_0700.htm
ACCO 500 Accounting Principles Abridged Course 32
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Assignments before Workshop Three:
1. Answer the following questions:
a. Identify the major characteristics of a corporation and classify the characteristic as
being advantageous or detrimental to a business
b. Describe the accounting treatment for the issuance of stock
c. How do net income, net loss, and dividends affect retained earnings?
d. What is the usefulness of the statement of cash flows? What does information
contained in the statement of cash flows help investors, creditors, and others assess?
e. Define operating, investing, and financing activities. Give an example of each.
f. List two similarities and one difference of the direct and indirect methods. What are
the advantages of using the indirect method? What are the advantages of using the
direct method?
5. The facilitator will assign exercises related with the following subjects:
Reporting and Analyzing Stockholders’ Equity and Statement of Cash Flows.
2. Continue working with your portfolio.
Activities:
1. The facilitator will start the class with a short review.
2. The facilitator will collect the assignments and will discuss the questions with the class.
3. Students will meet in groups to discuss the types of bank and how they work. Then, a
member of the group will verbally summarize their findings.
4. The facilitator will explain the role of financial institutions in direct and indirect financing
and the government agencies that are charged with regulating these financial institutions.
ACCO 500 Accounting Principles Abridged Course 33
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
5. Groups will work in collaborative learning teams the following World Wide Web Research
and Financial Statement Analysis Activity:
Wyeth and Merck are large pharmaceutical companies operating in the United States.
Research your school library or the Internet to find current annual reports for Wyeth and
Merck. If researching the web go to http://www.wyeth.com to find information for Wyeth.
Merck can be found at http://www.merck.com. Using information contained in the annual
reports compute the following cash-based measures for Wyeth and Merck:
a. Free cash flow.
b. Current cash debt coverage ratio
c. Cash debt coverage ratio
6. The facilitator will explain the assignments to be completed before workshop four and will
help organize groups for next workshop’s presentations.
7. Fill out The Whip form (see Appendix M).
Assessment:
Each student will be assessed based on:
1. Appendix B rubric for class participation.
2. Appendix C for the individual/group presentation.
3. Appendix C for oral discussion.
ACCO 500 Accounting Principles Abridged Course 34
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Taller Cuatro
Objetivos Específicos:
Al finalizar el Taller, el/la estudiante estará capacitado/a para:
1. Definir fraude y control interno.
2. Identificar los principios de actividades de control interno.
3. Preparar una reconciliación de banco.
4. Discutir los principios básicos de gerencia de efectivo.
5. Identificar los elementos primarios de un presupuesto de efectivo.
6. Identificar los diferentes tipos de cuentas y documentos por cobrar.
7. Explicar los métodos de registro de las cuentas y documentos por cobrar.
8. Describir los registros para las notas de cuentas y documentos por cobrar.
9. Describir los principios de gerencia de las cuentas y documentos por cobrar.
10. Identificar los índices para analizar las cuentas y documentos por cobrar de una empresa.
Objetivos del Lenguaje:
1. Los estudiantes utilizarán estrategias efectivas para llevar a cabo discusiones formales e
informales incluyendo actividades de reflexión y análisis, respetando diversos puntos de vista.
2. Los estudiantes utilizarán el proceso de lectura efectivamente para comprender y aplicar los
conceptos estudiados durante el taller.
3. Los estudiantes utilizarán organizadores gráficos, de manera efectiva, para expresar sus ideas
oralmente en español
Enlaces Electrónicos (URLs):
El fraude y el control interno http://boletinopinioncontabilidadusat.blogspot.com/2008/01/el-
fraude-y-el-control-interno.html
ACCO 500 Accounting Principles Abridged Course 35
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Control Interno
http://www.monografias.com/trabajos16/control-interno/control-interno.shtml Reconciliación de
la tarjeta de crédito y reconciliación de banco
http://www.outsourcingbookkeepingservices.com/spanish/credit_card_bank_reconciliation.htm
Reconciliación de banco externa
http://help.sap.com/saphelp_sbo2007a/helpdata/es/44/eadaa4cf1903fce10000000a1553f6/content
.htm
Efectivo
http://www.peoi.org/Courses/Coursessp/D-ac/ac/ac8/ac8.html
Los cuatro principios básicos para la administración de efectivo
http://www.monografias.com/trabajos37/administracion-del-efectivo/administracion-del-
efectivo2.shtml
Gerencia preventiva del efectivo
http://www.degerencia.com/articulos.php?artid=448
Cuentas y Documentos por Cobrar
http://html.rincondelvago.com/cuentas-y-documentos-por-cobrar.html
Cuentas Por Cobrar
http://www.slideshare.net/jcfdezmx2/cuentas-por-cobrar-presentation
Gerencia y control de crédito y cobranzas
http://www.monografias.com/trabajos32/gerencia-creditos/gerencia-creditos.shtml
Asignaciones antes del Taller Cuatro:
1. Responda las siguientes preguntas:
ACCO 500 Accounting Principles Abridged Course 36
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
a. ¿Cuáles son los tres factores del triángulo de fraude que contribuyen a actividades
fraudulentas de empleados?
b. Liste los seis controles internos que existen para los recibos de efectivo.
c.Explique la aplicación de cada uno de ellos.
d. Liste y discuta los cinco principios básicos de la gerencia del efectivo.
e. Defina cuentas y documentos por cobrar. ¿Cuáles son los diferentes tipos de cuentas y
documentos por cobrar? ¿Por qué es necesario tener estas cuentas bajo diferentes
categorías?
2. El facilitador asignará ejercicios relacionados con los siguientes temas:
Control Interno y Reporte y Analisis de Cuentas por Cobrar.
Actividades:
1. El facilitador comenzará la clase con un breve repaso.
2. El facilitador recogerá las asignaciones y las discutirá.
3. Los estudiantes formarán grupos de tres para analizar y discutir por lo menos dos problemas
relacionados con los siguientes temas:
Control Interno y Reporte y Analisis de Cuentas por Cobrar.
4. Los Grupos prepararán un reporte preliminar sobre el proyecto, el cual deberá ser presentado
en el taller cinco. El facilitador proveerá guía y contestará las preguntas de los alumnos.
5. Los estudiantes llenarán su diario reflexivo.
6. Explicación de las tareas a ser completadas antes del Taller cinco.
Avalúo:
1. El Anejo B se utilizará para evaluar la participación en clase.
ACCO 500 Accounting Principles Abridged Course 37
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
2. El Anejo C se utilizará para evaluar la presentación individual/grupal.
3. El Anejo A se utilizará para evaluar el trabajo escrito.
4. El Anejo C se utilizará para evaluar la discusión oral.
5. El Anejo O se utilizará para el diario reflexivo.
ACCO 500 Accounting Principles Abridged Course 38
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Workshop Five/Taller Cinco
NOTA: Este taller es bilingüe. Tanto, el
Facilitador como los estudiantes,
deberán utilizar el idioma asignado para
cada tarea y actividad.
NOTE: This is a bilingual workshop.
Both the facilitator and student should
use the language assigned for each
homework and activity.
Specific Objectives:
At the end of the workshop, the student would be qualified to:
1. Explain the concept of depreciation.
2. Compute periodic depreciation using the straight-line method, and contrast its expense
pattern with those of other methods.
3. Describe methods for evaluating the use of plant assets.
4. Explain a current liability and identify the major types of current liabilities.
5. Describe the accounting for notes payable.
6. Identify the types of bonds.
7. Identify the requirements for the financial statement presentation and analysis of liabilities.
8. Describe the accounting for long-term notes payable.
Language Objectives:
Students will:
1. Summarize main ideas using correct grammar and spelling in English or Spanish after
reading a selection.
2. Use cooperative learning strategies to analyze and discuss a topic.
ACCO 500 Accounting Principles Abridged Course 39
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
3. Use the reading process effectively.
Electronic Links (URLs):
Depreciation
http://www.businesstown.com/accounting/basic-depreciation.asp
Concept of Depreciation
http://www.lotsofessays.com/viewpaper/1682082.html
Explain the Concept of Depreciation
http://www.ehow.com/facts_6018371_explain-concept-depreciation.html
Plant Assets
http://highered.mcgraw-
hill.com/sites/0072396881/student_view0/chapter9/chapter_summary.html
Plant Assets - Internal Use Software Costs
http://www.finance.upenn.edu/vpfinance/fpm/1100/1100_pdf/1106.7.pdf
Fixed Assets
http://www.peoi.org/Courses/ac/ac11.html
Liability
http://www.referenceforbusiness.com/small/Inc-Mail/Liabilities.html
Current Liabilities vs. Long Term Liabilities
http://www.ehow.com/facts_4811222_liabilities-vs-long-term-liabilities.html
All Types of Items Shown As Current Liabilities
http://accounting-financial-tax.com/2009/11/all-types-of-items-shown-as-current-liabilities/
ACCO 500 Accounting Principles Abridged Course 40
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Financial Ratios
http://www.netmba.com/finance/financial/ratios/
Assignments before Workshop Five:
1. Respond the following questions
a. Why are plant assets listed at cost? What costs are included in the cost of plant
assets?.
b. What is depreciation?
c. Compute periodic depreciation using the straight-line method assuming a cost of
$10,000, zero salvage value, and a 5-year useful life. Contrast its expense pattern
with that of an accelerated method.
d. Describe methods for analyzing a company’s use of plant assets.
e. How are long-lived assets reported on the balance sheet?
f. Explain to someone who knows very little about accounting what a current liability is
and illustrate by identifying major types of current liabilities.
g. In what sections of the statement of cash flows would a financial statement user
obtain information related to the cash inflows and outflows related to debt
transactions?
h. Which method of amortization results in a constant percentage rate of interest?
i. What two components make up each payment on a long-term notes payable?
2. Finish your research project and presentation. The presentation should not take more than 15
minutes. Follow the language according to the instructions. See Appendixes A and C.
3. Give the final touches to your portfolio.
ACCO 500 Accounting Principles Abridged Course 41
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Activities:
1. The facilitator will start the class with a short review and will clarify any doubt of the
material covered in this course thus far (in Spanish).
2. Students will discuss their assignments (in Spanish).
3. World Wide Web Research and Market Terminology Activity:
4. There are a number of creative ways to borrow money when financing a business. In order to
speak the language of financiers, you need to have a good understanding of the terms used in
the banking and investment industry. Go to http://www.nyse.com, scroll down and click on
ABOUT THE NYSE and Glossary. Find the definitions to the following terms:
a. Bond
b. Commercial paper
c. Coupon-bond
d. Face value
e. General mortgage bond
f. Municipal bond
g. Premium
h. Secondary market
i. Yield
j. Zero coupon bond
5. The group representative will distribute the course evaluation form.
6. The student will write a reflective diary to react critically about the concepts, feelings and
related attitudes about the subject matters covered in this workshop (in English).
7. Students will hand in their portfolios.
ACCO 500 Accounting Principles Abridged Course 42
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
8. The facilitator will make final comments. (in Spanish).
Assessment:
Each student will be assessed based on:
1. Appendix B rubric for class participation.
2. Appendix C for the individual/group presentation.
3. Appendix O for the student’s self evaluation.
4. Appendixes D-K for Portfolio Assessment.
ACCO 500 Accounting Principles Abridged Course 43
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejos/Appendixes
ACCO 500 Accounting Principles Abridged Course 44
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo A/Appendix A
RUBRIC TO EVALUATE WRITTEN WORK
Student Name: ______________________ Date: _______________
Criteria Value Points Student Score
Content
The paper is clear, focused and interesting. Identifies purpose, objectives and principal ideas included in the paper
10
Presentation of ideas is organized, coherent and can be easily followed
10
The paper properly explains content. 10
The presentation of ideas and arguments are based in sources presented, consulted or discussed in class.
10
The paper demonstrates substance, logic and originality.
10
The author presents his point of view in a clear, convincing and well based manner.
10
Contains well-constructed sentences and paragraphs that facilitate lecture and comprehension.
10
Language Demonstrate a command of standard English (vocabulary used, syntax and flow of ideas).
10
Uses grammar appropriately and correctly.
10
Manages and uses verbs appropriately and correctly.
10
Total Points 100 (70% content and 30% language)
Student’s total Score: _______
Student’s Signature: ____________________Facilitator’s Signature:___________________
ACCO 500 Accounting Principles Abridged Course 45
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
MATRIZ VALORATIVA PARA TRABAJOS ESCRITOS
Nombre del Estudiante: ______________________ Fecha: _______________
Criterio Puntos Puntuación
Contenido
Este trabajo esta claro, enfocado e interesante. Identifica el propósito, objetivos e ideas principales del documento o actividad.
10
La presentación de ideas es coherente y puede ser seguida fácilmente.
10
El documento explica propiamente el contenido.
10
La presentación de ideas y argumentos esta basada en recursos presentados, consultados o discutidos en clase.
10
El documento demuestra substancia, lógica y originalidad.
10
El autor presenta su punto de vista en una manera clara, convincente y bien estructurada.
10
Contiene oraciones bien estructuradas y párrafos que facilitan la lectura y comprensión del documento.
10
Lenguaje Demuestra un conocimiento del español (vocabulario, sintaxis y flujo de ideas).
10
Usa gramática apropiada y correctamente.
10
Maneja verbos y acentuación apropiada y correctamente.
10
Total Puntos 100 (70% contenido y 30% lenguaje)
Puntuación Total: _______
Student’s Signature: ____________________Facilitator’s Signature:___________________
ACCO 500 Accounting Principles Abridged Course 46
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo B/Appendix B
MATRIZ VALORATIVA PARA PARTICIPACIÓN EN GRUPO
Nombre del Estudiante: _____________________ Fecha: _______________
Grupo: ________ Nombre del estudiante evaluador: _____________________
Criterio Puntos Puntuación del estudiante
Asistió a las reuniones o actividades del grupo.
10
Colaboró en la planificación y organización de las reuniones o actividades de grupo.
10
Demostró disposición para cooperar con el grupo.
10
Contribuyó frecuentemente a las discusiones del grupo
10
Participó activamente en las reuniones y actividades.
10
Demostró interés en las discusiones y actividades del grupo.
10
Vino preparado(a) a las reuniones, actividades y discusiones del grupo.
10
Demostró atención y apertura a los puntos y argumentos de sus compañeros.
10
Contribuyó al grupo con material e información adicional.
10
Contribuyó significativamente al trabajo que presentó el grupo.
10
Totals 100
ACCO 500 Accounting Principles Abridged Course 47
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
RUBRIC TO EVALUATE PARTICIPATION IN GROUP ACTIVITIE S
Students name: _________________________ Date: _______________
Group: ________ Name of evaluating student: ______________________
Criteria Points Students Points
Attended all the meetings and activities of the group.
10
Collaborated with the planning and organization of activities of the group.
10
Demonstrated cooperation and team work with the group.
10
Contributed frequently with the discussions of the group.
10
Participated actively in the meetings and activities.
10
Demonstrated interest in the discussions and activities of the group.
10
Came prepared to meetings, activities and discussions of the group.
10
Demonstrated attention to the arguments within the group.
10
Contributed to the group with additional information.
10
Contributed significantly with the work that presented the group.
10
Totals 100
ACCO 500 Accounting Principles Abridged Course 48
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo C/Appendix C
MATRIZ VALORATIVA PARA EVALUAR PRESENTACION INDIVID UAL/GRUPAL
ORAL
Nombre del estudiante: _______________________Fecha:_________________
Criterio Puntos Puntuación del estudiante
Contenido Realiza una introducción efectiva del tema identificando el propósito, objetivo e ideas principales que se incluyen en la presentación.
10
La presentación es organizada y coherente y puede seguirse con facilidad.
10
El presentador demuestra dominio del tema o materia de la presentación al explicar con propiedad el contenido y no incurrir en errores.
10
Las ideas y argumentos de la presentación están bien fundamentados en los recursos presentados, consultados o discutidos en clase.
10
Capta la atención e interés de la audiencia y/o promueve su participación, según aplique.
10
Proyección efectiva, postura corporal adecuada, manejo de la audiencia, manejo del tiempo asignado.
10
Usa varias estrategias para hablar o definir conceptos, interpretaciones, aplicaciones y evaluación de procesos o experiencias en el contenido del curso.
10
Lenguaje Pronunciación de las palabras es clara y de manera correcta para que se entienda el lenguaje utilizado.
10
Uso correcto de la gramática y conjugación de verbos en el idioma asignado.
10
Uso correcto del vocabulario para expresar el mensaje adecuadamente.
10
Total de Puntos 100 (70% de contenido y 30%
Lenguaje)
Puntuación del Estudiante:
________ Firma del Estudiante: _________________ Firma del Facilitador: ____________________
ACCO 500 Accounting Principles Abridged Course 49
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
RUBRIC TO EVALUATE INDIVIDUAL/GROUP PRESENTATION
Student Name:____________________________Date:___________________
Criteria Value Points Student Total Score
Content Performs an effective introduction to the theme identifying the objectives, ideas and principles that are included in the presentation.
10
The presentation is organized and coherent, and could be easily followed
10
The presenter demonstrates domain of the theme or subject by means of properly explaining content without incurring in errors
10
The ideas and arguments of the presentation are well founded by the resources presented, consulted or discussed in class
10
Capture of the attention and interest of the audience and/or promote their participation, as applicable
10
Effective personal projection, corporal posture and manage of the audience;
10
Uses a variety of speaking strategies to define concepts, interpretation, application and evaluation of processes using experience on concepts or content of class.
10
Language Student pronounces words in a clear and correct manner so as to make the correct language used understood to others.
10
Correct use of grammar and verb conjugation.
10
Use of correct use of vocabulary words to express message.
10
Total Points 100 (70% of content and 30% of language)
Student’s Total Score: ________
Student’s signature: __________________Facilitator’s Signature: __________________
ACCO 500 Accounting Principles Abridged Course 50
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo D/ Appendix D
PORTFOLIO
Guidelines to prepare the portfolio
1. Determination of sources of content
2. The following, but not limited to, documentation will be included:
a. Projects, surveys, and reports.
b. Oral presentations
c. Essays: dated writing samples to show progress
d. Research papers: dated unedited and edited first drafts to show progress
e. Written pieces that illustrate critical thinking about readings: response or reaction
papers.
f. Class notes, interesting thoughts to remember, etc.
g. Learning journals, reflexive diaries.
h. Self assessments, peer assessments, facilitator assessments.
i. Notes from student-facilitator conferences.
3. Organization of documentation
Documentation will be organized by workshop, and by type of assignment within workshops.
Workshops will be separated from one another using construction paper or paper of different
colors, with tabs indicating the workshop number.
4. Presentation of the portfolio
• Documentation will be posted in a binder or in a digital version (e-portfolio).
• The cover page will follow exactly APA guidelines applied to a cover page of
research papers submitted at Metro Orlando Campus. This cover page will be placed
at the beginning of the portfolio.
• The entire portfolio will follow APA style: Courier or Times New Roman font, size
12, double space, and 1-inch margins. See a “Publication Manual of the APA, Fifth
Edition”
• A log of entries that can be expanded with each new entry properly numbered. The
table, which should be located at the beginning, should include a brief description,
date produced, date submitted, and date evaluated (Appendix F).
• Introduction and conclusion of the income and outcome of the portfolio.
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• A list of references and appendixes of all assignments included will be added to the
end of the portfolio.
• The Portfolio Informational Sheet will be placed in the transparent front pocket of the
binder for identification purposes (Appendix E).
5. Student-Facilitator Feedback Template: Progression follow-up
The final step in implementing portfolios, before returning them to the student or school life,
is sharing feedback with each student to review the contents, student reflections, and your
evaluations of individual items and all of the work together as related to learning targets
(Banks, 2005).
Facilitators will e-mail a feedback template to all students. This template will contain
information pertaining to weaknesses and strengths found in students’ portfolios (Appendix
I ). Facilitators will focus their attention on showing students what is possible and their
progress rather than what is wrong; however, this does not mean that facilitators will not
cover weaknesses and areas for improvement during the conference. Facilitators will send
this feedback template upon completion of workshop one.
Students will also have the opportunity to respond to the facilitator’s feedback and write their
own comments and/or ideas of how to improve the quality of their portfolios, and how to
become better metacognitive learners on the feedback template. Students will e-mail the
template with their comments back to the facilitator after every workshop.
6. Portfolio storage:
• Portfolio samples will be safely stored for a six-month term on campus.
• Students will sign an official document empowering Ana G. Mendez University
System with rights to use their portfolios with educational or accreditation purposes
during this term (Appendix J).
• After this term, and if their authors authorize Ana G. Mendez University System to
discard their portfolios by signing an official document, portfolio samples will be
destroyed; otherwise, they will be returned to their original authors (Appendix K).
ACCO 500 Accounting Principles Abridged Course 52
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo E/Appendix E
PORTFOLIO INFORMATIONAL SHEET
Sistema Universitario Ana G. Méndez Florida Campuses
Universidad del Este, Universidad Metropolitana, Universidad del Turabo Check one: � Universidad del Este � Universidad Metropolitana � Universidad del Turabo Check one: � Undergraduate
� Graduate
Concentration
Student’s Name
Facilitator’s Name
Course:
Portfolio rated as
Reason of this rate
ACCO 500 Accounting Principles Abridged Course 53
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo F/Appendix F Log of Entries
Entry Description
Date of Entry
Date
Submitted
Date
Evaluated
Page #
1
2
3
4
5
6
7
8
9
10
ACCO 500 Accounting Principles Abridged Course 54
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo G/Appendix G
Checklist for Portfolio Assessment
Has the student set academic goals?
Does the portfolio include enough entries in each area to make valid
judgments?
Does the portfolio include evidence of complex learning in realistic
setting?
Does the portfolio provide evidence of various types of student learning?
Does the portfolio include students’ self-evaluations and reflections on
what was learned?
Does the portfolio enable one to determine learning progress and current
level of learning?
Does the portfolio provide clear evidence of learning to users of the
portfolio?
Does the portfolio provide for student participation and responsibility?
Does the portfolio present entries in a well-organized and useful manner?
Does the portfolio include assessments based on clearly stated criteria of
successful performance?
Does the portfolio provide for greater interaction between instruction and
assessment?
Adapted from: Gronlund, N. E. (2003). Assessment of student achievement. 7th ed. Boston: Pearson Education,
Inc.
ACCO 500 Accounting Principles Abridged Course 55
Prep. December 2003, by Prof. Gregorina Carnero. Rev. May 26, 2010. Manuel A. Christiansen, M.B.A.
Anejo H/Appendix H
Portfolio Rubric
4 3 2 1
PORTFOLIO APPEARANCE
� Readable: Are entries typed in an appropriate font and size? Are entries
free of errors? Do ideas expressed in entries follow a logical sequence with appropriate transitions among paragraphs and topics?
� Professionalism: Is the appearance of the portfolio professional? Are
graphics, colors and portfolio language consistent with professional workplace expectations? Is the portfolio presented in a neat and orderly manner?
� Organization: Is the portfolio organized in a manner that makes it easy
to follow and easy to quickly locate information?
PORTFOLIO CONTENT AND FUNCTION
� Content: Are all required entries included in the portfolio? Are entries
relevant to the content of the portfolio? Do all entries contain the student’s reaction or reflection on the selected topics? Do entries provide thorough understanding of content? Resume, Activities List, Varied Samples of Written Work, Evidence of Problem Solving, and Evidence of Decision Making.
� Authenticity: Are the samples and illustrations a true reflection of the
student’s efforts and abilities?
� Growth/Development: Do samples provide thorough understanding of
growth and development related to their field of concentration? Do items show what the student has learned?
� Collaboration: Do items show examples of both individual and group
work? Does the student provide clear understanding of collaboration, and use collaboration to support his/her learning?
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� Reflection and Personal growth: Do items show exceptional
understanding of how to be a reflective thinker and how to seek opportunities for professional growth? Does the student include self-reflective comments? Does the student reflect enthusiasm for learning?
� Professional Conduct: Do items show clear understanding of ethical
behavior and professional conduct? Do items display the pride the student has in his or her work?
Overall Portfolio Impact
� Is this portfolio an asset in demonstrating the student’s value (skills,
abilities, knowledge) to a potential employer or college representative?
Rating Scale 4 = Outstanding 3 = Very good 2 = Good 1 = Needs improvement Source: Retrieved from www.lcusd.net/lchs/portfolio/rubric.htm on February 10th, 2007. Adapted 02/10/2007 by Fidel R. Távara, M.Ed. Coordinator of Assessment and Placement – Metro Orlando Campus
Anejo I/Appendix I
Portfolio Assessment Feedback Template Strengths Weaknesses Improvement Ideas Facilitator’s comments
Student’s response and comments
ACCO 500 Intermediate Accounting I 58
Prepared December 2003, by Prof. Gregorina Carnero Rev. 2010. Manuel Christiansen, MBA
Anejo J/Appendix J
Use and Return of Portfolio
Sistema Universitario Ana G. Méndez Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of Assessment
and Placement of the Ana G. Méndez University System, to keep in their records a copy of
my portfolio. I understand that the portfolio is going to be used for accreditation or
educational purposes only, and that is not going to be disclosed without my consent.
By signing this document I authorize the office of Assessment and Placement to keep a copy
of my portfolio for six months and return it to me at the end of this period of time.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
ACCO 500 Intermediate Accounting I 59
Prepared December 2003, by Prof. Gregorina Carnero Rev. 2010. Manuel Christiansen, MBA
Anejo K/Appendix K
Use and Discard of Portfolio
Sistema Universitario Ana G. Méndez Universidad del Este, Universidad Metropolitana, Universidad del Turabo
I, ____________________________________, grant permission to the office of Assessment
and Placement of the Ana G. Méndez University System to keep in their records a copy of
my portfolio. I understand that the portfolio is going to be used for accreditation or
educational purposes only, and that is not going to be disclosed without my consent.
By signing this document I authorize the Office of Placement and Assessment to keep a copy
of my portfolio for six months and discard it at the end of this period of time.
_______________________________ ___________
Student’s Name (print) Date
_______________________________ ___________
Student’s Signature Date
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Anejo L/Appendix L
COURSE EXPECTATIONS
Objective: To align the objectives of the course with the student’s expectations.
Procedure:
Students will write their expectations of the course, the perceived objectives and their goals
to be achieved with the course. The student will share their expectations with the rest of the
group.
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
___________________________________________________________________________
_____________________________________________
ACCO 500 Intermediate Accounting I 61
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Anejo M/Appendix M
The “Whip”
Objective:
To allow the students to express their thought in regards to what they have learned in the
workshop and, to emphasize the important concepts that come up from the students’ answers.
Procedure:
The students will answer in complete sentences the questions at the bottom. The facilitator
will go around the room asking each student to respond to a question and he/she would
answer with short phrases. Every student is expected to respond. They may pass on the first
turn but, must answer once the whip circles again.
• What was one thing you learned today?
• What was one thing you are unclear about today?
• What one surprise was in today’s class?
• What was one thing you want to think more about?
ACCO 500 Intermediate Accounting I 62
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Anejo N/Appendix N
ONE MINUTE- PAPER
Name ________________________
Answer the following questions and return the document to the facilitator. These answers
will provide the facilitator with valuable information regarding your doubts about the topics
or concepts discussed in class today.
1. The most important topic or theme of today’s workshop was
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
______________________________________________.
2. After discussing the topic, some questions are still unanswered. These are…
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
______________________________________________.
3. I would like this discussion to go further into these other/s topic/s that are very important
for me.
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
______________________________________________.
ACCO 500 Intermediate Accounting I 63
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Anejo O/Appendix O
DIARIO REFLEXIVO Nombre ____________________________
Fecha ____________________________
El propósito de este diario es el de reflexionar y escribir sobre los conceptos, los
sentimientos y las actitudes que se desatan a partir de la discusión y los trabajos de cada
taller. Este proceso le ayudará en su autoanálisis, así como propiciará la auto evaluación.
Utilizando las siguientes preguntas guías, reflexione sobre lo presentado en el taller y
conteste las mismas en forma de ensayo con excelente gramática, ortografía y puntuación:
1. Hoy aprendí….
2. Este tema presentado en clase me ayuda a……
3. Puedo aplicar lo discutido en la clase a mi vida y experiencias personales…
ACCO 500 Intermediate Accounting I 64
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Reflective Diary
Name ____________________________
Date ____________________________
The purpose of this diary is to reflect and write about the concepts, feelings, and attitudes
experienced after class discussion and assignments. This process will help your self-
assessment.
Using the following questions, reflect about what was presented in this workshop and answer
the questions following an essay style using excellent grammar, syntax and punctuation:
1. Today I learned…
2. The topic presented today helps me…
3. I can apply today’s discussion to my life and personal experiences…
ACCO 500 Intermediate Accounting I 65
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Anejo P/Appendix P
TEAM PROJECT
Horizontal Analysis
Describe and Apply Horizontal Analysis
♦ In assessing the financial performance of a company, investors are interested in the core
or sustainable earnings of a company. Investors are also interested in making
comparisons from period to period.
♦ Three types of comparisons have been shown in the text to improve the decision
usefulness of financial information:
1. Intracompany basis. Comparisons within a company are often useful to detect
changes in financial relationships and significant trends. A comparison of a Fortune
500's current year's cash amount with the prior year's cash amount shows either an
increase or a decrease. Likewise, a comparison of Fortune 500's year-end cash
amount with the amount of total assets at year-end shows the proportion of total
assets in the form of cash.
2. Intercompany basis. Comparisons with other companies provide insight into a
company's competitive position. Fortune 500's total sales for the year can be
compared with the total sales of one of its its principal competitors.
3. Industry averages. Comparisons with industry averages provide information about a
company's relative position within the industry. Fortune 500's financial data can be
compared with the averages for its industry compiled by financial ratings
organizations such as Dun & Bradstreet, Moody's, and Standard & Poor's or with
information provided on the Internet by organizations such as Yahoo! on its financial
site.
ACCO 500 Intermediate Accounting I 66
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♦ Three basic tools are used in financial statement analysis to highlight the significance of
financial statement data:
1. Horizontal analysis
2. Vertical analysis
3. Ratio analysis
♦ Horizontal analysis, also known as trend analysis, is a technique for evaluating a series
of financial statement data over a period of time.
� Its purpose is to determine the increase or decrease that has taken place.
The increase or decrease can be expressed as either an amount or a percentage.
♦ Vertical analysis, also called common-size analysis, is a technique for evaluating
financial statement data that expresses each item in a financial statement as a percent of
a base amount.
♦ Vertical analysis enables you to compare companies of different sizes.
♦ For analysis of the primary financial statements, ratios can be classified into three types:
1. Liquidity ratios measure the short-term ability of the company to pay its maturing
obligations and to meet unexpected needs for cash.
2. Solvency ratios measure the ability of the company to survive over a long period of
time.
3. Profitability ratios measure the income or operating success of a company for a
given period of time.
♦ Ratios can provide clues to underlying conditions that may not be apparent from an
inspection of the individual components.
♦ A single ratio by itself is not very meaningful.
ACCO 500 Intermediate Accounting I 67
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♦ The discussion on ratios uses the following comparisons:
1. Intracompany comparisons covering two years for the Fortune 500 Company.
2. Intercompany comparisons using the the Fortune 500 Company and one of its
principal competitors.
3. Industry average comparisons based on Reuters.com median ratios for
manufacturers of flour and other grain mill products and comparisons with other
sources.
Instructions:
� Select a Fortune 500 company and one of its principal competitors.
� The comparative balance sheet has to show a number of changes from at least two
years.
� A 2-year comparative income statement of your Fortune 500 company for at least two
years in condensed format.
� Show changes in your Horizontal analysis of the income statements.
� Note: When using horizontal analysis, if an item has no value in a base year or
preceding year and a value in the next year, no percentage change can be computed.
And if a negative amount appears in the base or preceding period and a positive
amount exists in the following year, no percentage change can be computed.
Schedule for Completing Term Project:
Week 1 – Form group and hold organizational meeting.
Week 2 – Obtain copies of annual report and 10-K report of selected Fortune 500
company and one of its principal competitors.
Week 5 – Complete and hand in project.