Spring 2011

Course Information
Course number:
ACG 2021
Course discipline:
Course date:
May 14 - July 11 2012
HPA 112
Meeting day(s):
Monday and Wednesday
Meeting time(s):
6:00 - 8:50 PM
Sophomore standing and college algebra or the equivalent

Instructor Information
Dr. Steven Hornik, CPA, PhD
Office location:
BA1 432
Office hours:
Monday and Wednesday 5:00 - 6:00 PM
Second Life Office Hours:
TBA based on need
SARC: Howard Phillips Hall, room 115. ACG 2021 tutoring will be during Summer A (until June 22nd)

Meghan: Monday 2-5pm
Marielle: Tuesday 2-3pm and Wednesday 2-4pm

During Summer B (tentatively)

Meghan: Monday 12:30-3:30pm and Wednesday 12:30-3:30pm


Financial Accounting, Harrison, Horngren, & Thomas Pearson Prentice Hall, Fourth Custom Edition for UCF 2010

Read for details on the various ways to purchase the book and the various forms you can choose from.

Other Requirements:

  • MyAccountLab (see below)
  • Second Life account and software (see below)
    • You need to follow the guidelines set out while you are in Second Life as part of this course.


ID: hornik43531 See detailed information for registering for your My Accounting Lab.

Course Goals:

The basic objective of this course is to provide you with a working knowledge of accounting processes and concepts, the content of financial statements, and the framework of accounting theory.

Course Video:

Lectures - PowerPoint Screencasts, and these are typical lectures that you would expect in any class. In lectures I cover the material from each chapter. These lectures are videos of Power Point Slides with my narration added.

Teaching & Learning Approach:

All lectures for this class are delivered on-line via various formats. These lectures will be accessible within WebCourses, Second Life , at my website mydebitcredit.com, and as an iPod/iTouch video download, or as a video capable cell phone download (iPhone, etc.). Time in-class will be spent discussing the material and doing practice problems to ensure your understanding of the material. Students are expected to read all assigned material carefully, watch the lectures, and work all assigned problems before coming to class.

Lectures - PowerPoint Screencasts:

Each chapter has multiple small lectures ranging from 4 - 6 per chapter with no lecture lasting longer then 27 minutes. You should listen to these lectures in the order in which the material is presented in the book, but afterward you can go back and listen to them again if needed in any order. Most individual lectures are less then 25 minutes long so you don't need to set aside a 3 hour block of time as you would if this was a traditional class. Listen to these lectures when you can devote 100% of your attention to them, taking notes and re-listening to parts that are unclear. Come to class prepared to ask questions about a particular lecture and to work problems covering the material for that weeks chapter.

Technology for 2021 (Second Life, MyDebitCredit Web App, MyAccountingLab and Twitter):

Just as you utilize technology to watch the class lectures, this course leverages different technology to help reinforce the concepts from the book and lectures. For more details on the tools used in this course please visit and read the information in the ACG2021 Tools page.

Homework Assignments:

There will usually be 2-3 homework assignments for each chapter that are done using My Accounting Lab. There are also ungraded homework exercises that should be done in order to ensure your understanding of the material. Both graded and ungraded homework assignments are listed on the class schedule and are used as support for learning the material. Solutions for the ungraded homework are provided here on the wiki. Solutions for the graded homework will also be provided once the due date has passed. The ungraded exercises listed are minimum suggestions. Additional practice may be needed for successful completion of this course.

MyAccountingLab homework assignments allow you to have multiple (up to 3) attempts at answering the problem. If you get a problem wrong, do it again until you get it right, the final score for the homework reflects your latest try, there is very little reason not to score high on these assignments, even if you get it wrong the first time. If you do get a MyAccountingLab problem wrong, take advantage of the "Help Me Solve This", "Demo Docs", "Video", and/or other available links. If you have a question about a HW problem and want to go over it with a TA or myself in person, please Print it out before seeing us.

Success in this course requires a three-pronged approach as follows: 1. In-depth study (reading text and watching lectures) of each chapter prior to coming to class, 2. Timely completion of homework assignments, 3. Regular class attendance and participation (including watching Lecture Captures if not attending class). Most students underestimate the time and effort required to be successful in this course.

Due Dates and Late Assignments:

All assignments are due by 6:00 PM on the date they are due. My Accounting Labwill not allow assignments to be submitted after the due date and time has passed. The chapter HW assignments are to be completed using My Accounting Lab. Second Life HW assignments are to be completed and submitted in Second Life. Please check the due dates of all homework assignments, it is your responsibility to make sure they are submitted on time.

Late MyAccountingLab (MAL) assignments. If you miss the deadline for a MAL assignment you can still complete it but will first need to enter a password. The password is 'thankyou' without the quotes. However, your grade for each HW assignment will be reduced by 10% for each day that it is submitted late, so after 10 days, while you will still be able to complete the work your score will be a 0. No other assignments will be accepted if they are past the due date.

Homework Assignments:

Doing accounting exercises and problems is essential to doing well in this class. I have assigned up to three problems as graded homework from each chapter. You will have a total of 30 graded homework problems worth 5 points each. Simply doing these problems alone will NOT be enough to prepare for the exams. Instead use these homework problems as a test of your preparedness to take each exam.

All textbook homework is to be done using My Accounting Lab, the problems and due dates below are for your reference but are also included on the calendar in My Accounting Lab. Please note Pn-nnB means P=problem, E=excercise n=chatper, nn-problem number.

Assignment #
Estimated Time
Due Date
E31-B,P1-62B, P1-68B
5, 11, 22 minutes
E2-18A,E2-19A,P2-68B, P2-72B, P2-73B
6,n/a,19,n/a,n/a minutes
E3-20A,E3-21A,P3-80B, P3-81B, P3-84B
2,4,13,30,n/a minutes
P5-67B, P5-70B, P5-73B
13,13,6 minutes
P6-72B, P6-74B, P6-76B
20,n/a,14 minutes
P7-74B, P7-76B
35,n/a minutes
P8-80B, P8-82B
11, n/a minutes
P9-84B,P9-86B, P9-88B
n/a,n/a,22 minutes
6,10,n/a minutes
30-45 minutes

Homework: Second Life Assignments

Please review the instructions on how to complete assignments in Second Life

Due Date
3-D accounting model: Explore the accounting equation by chatting with it and getting a feel for how the equation works, what causes the various components of the equation to increase and/or decrease. After you have worked with the model, create a notecard (make sure the notecard is names SL1) and describe in your own words what the accounting equation is, and how it works. That is how do the debit and credit commands effect the different parts of the equation/model, in what way?. I can only process one sentence per line of the notecard, so when you finish a sentence, HIT RETURN and begin the next sentence. Drop the notecard onto the HW assignment collection box when you are finished. You will receive confirmation that the HW was received (you should see your avatar's name), if you don't then you have submitted the assignment incorrectly or used another student's notecard. You will also receive an email confirmation of your submission based on the email address you entered when you registered your avatar. If you haven't registered your avatar yet, now would be a good time to do so.
3-D accounting model: Enter the following transactions while interacting with the accounting equation model. First use the model in chat mode to verify that each entry leaves the accounting equation model balanced. As each transaction is confirmed, write the transaction on a notecard (make sure the notecard is named SL2) and drop the notecard on the homework box.

  1. Received $23,000 cash and issued common stock.
  2. Purchased $1,000 of supplies on account. (remember you need to determine what "on account" means in this context).
  3. Paid, $15,000 cash for Land.
  4. Performed services for a customer and received cash of $4,500.
  5. Paid $750 on accounts payable.
  6. Performed services for ShipEX on account totaling $6,500 (again, you need to determine what "on account" means in this context).
  7. Collected $5,000 from ShipEx on account.
  8. Paid Salary expense of $1,300 in cash.
  9. Paid Rent expense of 2,000 in cash.

This is the format to use when recording the transactions on your notecard:
100 dr 1000
100 cr 1000
100 dr 5000
200 cr 5000
Notice the order, you start off with a debit, followed by a credit. That is the order in which all accounting entries are recorded, you begin with the debit and end with the credit. Please follow this convention when creating transactions on your notecard.

Note: Remember that the model "listens" for Assets (100), Liabilities (200), and Stock (300) so you need only enter these classifications into the model. When you are finished processing the notecard the accounting equation totals for Assets = Liabilities + Equity should be $30950 = $250 + $30700, If you're balance is different you can use the tutorials located in the Collaboration building on the 2nd floor to walk through each of these transactions to understand how they should be accounted for.
3-D accounting model: Enter the following transactions while interacting with the accounting equation model. First using the model in chat mode to verify that each entry leaves the accounting equation model balanced.As each transaction is confirmed, write the transaction on a notecard (make sure the notecard is named SL3) and drop the notecard on the homework box.

  1. During 2010, purchased 1000 shares of BestPurchases stock for $25,000 cash, with the expectation to sell the stock for a profit in the near future.
  2. Received a cash dividend of $0.25 per share.
  3. The market value of BestPurchases stock at the end of the year was $21,000, prepare the adjusting entry.
  4. The 1000 shares of BestPurchases stock was sold in early 2011 for $26,500.

This is the format to use when recording the transactions on your notecard:
100 dr 1000
100 cr 1000
100 dr 5000
200 cr 5000
Notice the order, you start off with a debit, followed by a credit. That is the order in which all accounting entries are recorded, you begin with the debit and end with the credit. Please follow this convention when creating transactions on your notecard.

Note: Remember that the model "listens" for Assets (100), Liabilities (200), and Common Stock (300), so you need only enter these classifications into the model. When you are finished processing the notecard the accounting equation total for Assets = Liabilities + Equity + Revenue - Expenses should be, 1,750 = 0 + 1,750 and include 9 entries. If you're balance is different you can use the tutorials located in the Collaboration building on the 2nd floor to walk through each of these transactions to understand how they should be accounted for.

Grade Totals

Course Requirements
Grade Component
Homework: MAL Problems (5 pts. each)
Homework: Second Life/Web App (15 pts. each)
Exam 1 - chapters 1 -3
Exam 2 - chapters 5 & 6
Exam 3 - chapters 7 & 8
Exam 4 - chapters 9, 11 & 12
Total Points

Minimum Points Needed for Grade
A (710 x .90%)
B+ (710 x 87%)
B (710 x 80%)
C+ (710 x 77%)
C (710 x 70%)
D (710 x 60%)

Exams - Testing Lab Procedures:

There will be absolutely, positively, no make-up exams so don't ask! Please review the schedule for dates of the exams or you may view them here. All exams will be held in the testing lab, located in BA2 104. The exams will be delivered via WebCouses and you can only access the exams from the computers in the Testing Lab. Watch this video for an introduction to the testing lab at UCF. You will not be allowed any material in the testing lab except for scratch paper which will be provided for you and a financial (i.e. non-graphing) calculator, the Windows calculator will also be available. Graphic calculators, or other devices are NOT permitted in the testing lab - if you are seen with any of these you will be asked to leave the testing lab and you will receive a 0 for that exam.

Some testing lab policies are new please review before taking your 1st exam:

Cell phones (VERY IMPORTANT)
- The possession of a cell phone is no longer grounds for a student to be removed from the lab and student's will no longer be warned if they have the phone on their person. Although it is recommended that students not have cell phones in the testing center (rather than cannot), students found using a cell phone (even just checking the time) or the cell phone goes off in the lab, will be escorted from the lab and their exam will be submitted as is. This is very important and it is requested that you ensure your students are aware of this policy change.

ID Cards
- Students who bring in bad/damaged/expired/invalid ID cards will be given a warning on their first occurrence of using the card. On their second and any subsequent occurrence, the card will be collected and turned over to card services.
- Student's without a UCF ID card will get a onetime free pass provided that their enrollment in the course can be authenticated. i.e. faculty phone verification of student’s identity/enrollment

Scratch Paper and Calculators
- All exams will be allowed scratch paper and a windows calculator unless specifically requested otherwise

Open Testing:

As of Spring 2007, all exams taking place via the testing lab, will be on an open seating basis. What does this mean? When an exam for your class is listed you will need to come to the testing lab and take the exam. You do NOT need to sign up for the time you wish to come in. Simply come to BA2 104, and check-in (see below) to take your exam. However, if you wish to sign up for a time to reduce your stand-by wait time, you can using the COBA Pass program. Exam times are listed in the course schedule and from the Testing Lab web page which indicates the seats available, make sure you view the times the testing lab is open.

Prior to an exam. At the time of a scheduled exam, students should quietly congregate in the atrium area outside the Testing Lab.

Check-in for an exam. When the door to the Lab opens students will check-in for the exam by lining-up in an orderly fashion. A valid UCF Student ID Card is required to gain entrance to the Lab. Your UCF ID will be electronically scanned to authenticate your access to the exam by the Lab Manager, other Lab staff, or course proctors. You may or may not be assigned to sit at a particular computer workstation.

Reporting problems. If you encounter difficulty with any equipment or software in the Testing Lab, you must report the problem to a proctor or staff member for assistance before proceeding/attempting to fix the problem on your own. Report as much information about the problem and your location as you can. Because many exams are timed, reporting a technical problem as quickly as possible will minimize the time required to get back online and complete the exam.
NOTE: The Testing Lab environment and its computers are electronically monitored/recorded to include real-time video.

Acceptable use. Students in the Testing Lab are expected to use the resources responsibly and in accordance with the Campus Use of Information Technology and Resources Policy.

Computer workstations must not be turned off, moved, or unplugged. When departing the testing area, each student should return his or her keyboard, mouse, and chair to their normal positions, and remove all paper trash from the area.
  • No unauthorized materials. No cell phones, PDAs, graphing calculators, backpacks, books, papers, or any other materials will be allowed in the testing area, unless it has been pre-approved by the course instructor. If these materials are brought into the Lab, they must be turned off and students will have to store them in the cubicles or lockers located near the entrance. Note that 27 lockers are provided that can be locked, but students must bring in their own lock.
  • Food and Drink. No food or drinks may be brought into the Lab. Individuals who bring them will be asked to throw out the items or they will be asked to leave the Lab.
  • Leaving the testing area. Once a student is seated for an exam, he or she is not permitted to move from that location for the duration of the exam. Should an emergency occur in which a student must leave the exam, he or she will be accompanied by a proctor if he or she wishes to return to the exam. Otherwise, the student will not be allowed to re-enter the Lab.

Make-up Exams:

THERE WILL BE ABSOLUTELY NO MAKE-UP EXAMS GIVEN! Missing an exam will result in a score of zero being assessed. Check your calendars and make NO plans to go out of town during an exam period.


Throughout the semester I may be providing extra-credit opportunities. There will be various ways for you to earn extra-credit including but not limited too:

  1. Research opportunities: Second Life is a new platform being used for education. As such we need to assess it's usefulness in enhancing student learning. Throughout this semester various research will be conducted in which you can earn points, I anticipate at least two projects this semester. For the most part this research will evolve filling out surveys.
  2. Accounting questions sent to you via [[#Twitter|Twitter]] randomly throughout the semester (not during class time). Each correct response will be worth 1 point and the first 10 responders who get the correct answer will receive 1.5 points (but everyone responding by the due date and with the correct answer will receive at least 1 point).
  3. I'm a firm believer that the best way to learn material is to teach it to someone else. That's why I say (only somewhat jokingly) that if you can explain to a random person coming out of the student union what you're doing in this class, you're probable ready for the exam. But this is a large class so why not talk and help each other. I'd like to set up a system where if you help another student and they improve in the class as a result you should get some kind of extra credit. This would work something like this website for computer programming: http://www.lovemachineinc.com/ But I don't have a system like this set up, so if any of you are computer geeks and think you can do rough something up, let me know.
  4. Got an idea, ask me maybe I'll give you extra-credit, but note it must be something the entire class can do, I do not give individual extra credit assignments.

Now extra-credit is fine, but I've seen students spend too much time trying to earn one or two extra points when their time would be better served studying the material, listening to lectures, meeting with groups, working on problems, etc. So, please don't get caught up trying to earn these points - extra credit is too help you move from a borderline grade, say a B+ to an A-, it is not to make sure you pass the course if you are unable to pass the exams. Extra-credit will not be available after Exam 4.

Grade Appeals:

Scores that you earn from exams will be posted automatically to WebCourses as you finish the exam. Scores for homework assignments (and extra-credit work) will be posted to WebCourses as they are graded. An email will be sent out VIA WebCourses indicating that grades have been posted. If you feel the points posted are incorrect, or if you don't have any points even though you submitted the assignment (or extra credit), you will have 7 days from the date of the e-mail to inquire about your missing or incorrect points. After 7 days, missing points will not be examined, IT IS YOUR RESPONSIBILITY TO KEEP TRACK OF YOUR POINTS THROUGHOUT THE SEMESTER, DO NOT WAIT UNTIL THE END OF THE SEMESTER TO INQUIRE ABOUT MISSING POINTS. If you have a concern about your grade, you must make an appeal in writing to the instructor within one week (7 calendar days) of the receipt of your grade. The appeal must clearly state why you feel the grade to be unfair or the nature of the error.

Student as Customer/Student as Employee:

As students you have the right to demand a strong program and competent instruction. In this sense, you are my customer. Where possible I will request feedback as to how I can provide you a better product. At times I may be able to make mid-semester adjustments, but other times I may have to wait until future semesters to improve the product. At the same time, though, you are my employee. While you may have outside employment, this class should also be considered to be a job and as your manager I have the right to expect you to be prepared to do your job. I expect that your work is completed, that you are completely prepared in all classes, and that I reserve the right to comment and evaluate work. I have the right to set the schedule and set the workload. When you don’t do your work, I will comment on this and your performance evaluation (grades) will reflect my judgments.

Class Behavior:

Inappropriate behavior distracts from the ability of others to profit from their in-class experience. Such behavior includes arriving late, leaving early, talking, cell-phone use (talking, texting), etc. Rude and inappropriate behavior will not be tolerated. Since it is my responsibility to provide an environment that is conducive to learning for everyone in the class, I will deduct points from the grade of any student who chooses to repeatedly distract others. Although this class will incorporate the use of [[#Twitter|Twitter]] for communicating extra-credit opportunities, this will not be done during class-time, so there should be no need to use cell-phones during class.


I encourage you to attend as many classes as you can. A fundamental component of learning accounting is by working the problems and this is what we will do during class time, you should be there.

Academic Integrity:

I strongly believe in academic and professional integrity. I expect students to complete all work consistent with these ideals. I expect that all submitted work reflect the work of the individual or group who completed the assignment, and not the work of others. Therefore, cases of academic misconduct will be treated consistent with the Golden Rule and UCF policy. It is your responsibility to take the time to acquaint yourself with these policies. Please act responsibly so we are not in a position to have to discuss this issue. For further information on this, refer to the policy on academic honesty.

Students with Disabilities:

Any student in this class who has a documented visual or physical impairment, hearing disability, or any other disability covered by the university’s services for students with disabilities should contact me during the first week of class to discuss and arrange any instructional accommodations that may be necessary. Students who would like to serve as volunteer tutors, readers, or note takers for students needing special assistance are encouraged to contact me during the first week of class.

Accommodations for International Students:

International students may use a dictionary in class and during exams, but no additional time will be provided to complete exams, assignments and projects. International students who wish to have additional support in improving English writing skills may feel free to contact the Writing Center (407-823-2197).

Summer 2012 Course Schedule