Can't believe the semester is at an end. Always a fast semester as the classes are so enjoying and fun to teach. We finished chapter 12 lecture tonight and I assigned homework for Thursday.
I came hobbling in without crutches although it took me 10 mins to get from the parking lot. We discussed my trip to California purely for my enjoyment. Talked about partnerships and how to journalize starting and ending a partnership as well as admitting new partners at various entry prices. A show of hands says we will loose a couple of people for next semester.
QUIZ: I've been thinking about this last quiz I usually give. It's a summary quiz that lets you tell me what you have learned in the semester. Instead of you handing in a piece of paper telling me what you have learned and no one seeing the results but me. I'd like you to put your comments on this site. Put your answers in the comment to this blog entry. If you don't want to advertise your name you can put your initials instead of your name and I'll figure out who you are. Here's the quiz.
List for me your 5 top things you've learned, enjoyed, will remember, etc. about Accounting 201. Due by Tuesday December 16th.
Link to me if you want to stay connected: http://www.linkedin.com/in/pitcherda
Homework:
•P12-27A
•P12-28A
•P12-30A
•P12-36B
•P12-38B
•P12-39B
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10 comments:
I have enjoyed accounting 201, I actually like doing the hands on work its just a lot to remember and can be a little confusing but I did learn that Debit doesnt always mean to take away and credit doesnt mean to add like with banks, I learned how to do balance sheets, Income statements and statements of owners equity which can help when i become a real estate agent, I learned how to reconsile books with bank statements which will help in my personal life,I learned the differences between a partnership, an LLC and a propriatorship, and last but not least i learned I had fun learning about internal controls and the different types with cash and reciepts and different ways of accounting for cash, inventory, etc... Overall the class was challenging but fun. Amanda Bjornrud
I learned depreciation using straight-line, DDB, and units of production.
I enjoyed doing the hands on journalizing and posting. I found I am glade my mom threw away our monopoly game when I was 9 but I did enjoy seeing how the journalizing, posting, and spec. journals fit in with the balance sheet and income statement.
Elizabeth Moonen
The most enjoyable part of this class was the way the material was presented... in a way that i understood, and how it related to "real life". As hard as it probably was to keep the subject interesting, i think Doug did a good job. Hopefully i will remember everything from the class (mostly because of how much i'm paying) The most interesting was learning about depreciation, all the different types. Also the Partnerships, LLC, ect. It was cool to learn how real business is run. Learning how to prepare the finantial statements was also interesting, and good to know. The biggest learning experience was of course the Monopoly project. It was a fun way to do everything we needed to do. It was VERY time consuming, and hard at times, but overall pretty neat! I look forward to next semester!
Julie Pace
Top 5 things about class this semester:
1. Your crazy stories are always entertaining.
2. Creating financial statements and being able to look at a real set and know what they are indicating. I was given a raise at work because of this class and being able to look at financial reports with my boss.
3. The monopoly project, working all the way through the process without a computer was a great learning experience.
4. Learning how to calculate interest expense and maturity dates on notes has also been helpful to me in reviewing my own finances.
5. Learning how partnerships and corporations work differently has also been very interesting.
I am looking forward to next semester, because I need to know more managerial accounting for the job that I am currently doing. It will be very helpful to me.
Now is the time to start reviewing everything and preparing for the end of the year and all of the reports and adjustments that need to been done make sense. I am also able to ask questions about processes that I have learned in class that directly relate to our business.
Thanks and I will see you next semester. Tami
Top 5 things Ashley L. learned in Acct 201
1. E+A=L+OE+R. More relevant than E=MC2
2. For every debit there is a credit and viceversa. This brings balance to the universe.
3. Every transaction must be accounted for correctly and completely, or you will feel the hole in your soul.
4. There is no greater work of art than a completed set of books. Working from journalizing to a balance sheet is a beautiful endeavor.
5. I can not only stay awake, but I can actually learn something new at 9:00 at night. I attribute this ability to a patient, knowledgeable and fun teacher. Thank you.
I enjoyed Accounting 201 very much. This class helped me to become more comfortable with my job and the duties I preform. I was put into the position with no prior experience and felt very overwhelmed. I have learned that "depends" can be the answer to any accounting question. The Monopoly project was a very important part of the class to me. It helped me to fully comphrehend the entire process and how the pieces fit together. I found the chapter on Internal Controls very interesting. It taught me that Internal Controls are not only used to protect the company but can be used to protect yourself. The class was very fun and I feel like I am going away with knowledge that will help me in many aspects of my life. For me the hands on learning approach worked very well and I feel that I was able to learn a lot from other questions.
Ashley Hahn
I've always been able to funtion using an accounting system, but this class has taught me the purposes behind the processes. My top 5 learned skills are, preparing financial statements, benefits and drawbacks of partnerships and coorperations, the worksheet process, ratio's to interpret financial data, and bank reconciliations. I'm hoping to open my own business in the near future, and your class has given me some of the necessary tools to be successful. Your enthusiasm, stories, and humor (even if it's sometimes geeky lol) made this the most enjoyable class I've ever taken. I think you should take over for Ronnie, and be our advisor. Be a heck of alot more fun. Look forward to next semester. Carey Kilpatrick
This is a really hard one for me since I have taken this class before all the information is the same but your teaching style was more enjoyable. So I guess I will just say what I have learned from both of my experiences in Acct. 201. Before I took accounting I had the idea that debit meant to subtract like a debt. I really enjoyed this class especailly the things that could be realated to your everyday life like understanding payroll, bank reconciliations, and depreciation. This class also helped me understand my parents buisness better which was nice. It was very interesting learning the pros and cons to each situation as for many instances in a business there are like 3 ways to do it and different reasons for it like taxes.
I guess the one real nice thing was just learning about all the financial reports and understanding them I believe it will help me with my investments in the future. Thank Doug for an excellent class it was really enjoyable especially keeping the material upbeat with your accounting jokes and stories.
-Jenna Rody
I enjoyed the class a lot! So much more than I thought I would that I actually considered taking next semesters accounting class! I think it was great for me to see the other side of the process and I definitely appreciate our accounting dept way more now. I think the class was beneficial for me for many many reasons but the top five would have to be...
1) preparing financials statements
2) the debt/current ratios
3) diff between partnerships, corporations, etc
4) calculating interest expense
5) debits/credits(once it finally sunk in!!)
Thanks for everything, especially your patience. Hope you have a great next semester!-Jen Standley
- I've learned the basic accounting formulas, how to lay out AR, AP, Liabilities, cash, et.
- I've learned about business entities and how they are separate from the owner(s)
- I've learned a lot about depreciating assets, something I previously knew absolutely nothing about
- I've learned that homework, whether graded or not, truly affects your success in class
- I've learned how to make really cheesy accounting jokes :-)
Overall, it's been great seeing how accounting works, when the computer doesn't do it all for you. I appreciate the practical advice and "tangents" because those are what really help me stay focused. The stories relate accounting to real life for me and I don't leave feeling like I just endured a long math class that I could care less about; I'm learning stuff I'll actually use someday! I'm excited for the things we're going to learn next semester (in that really geeky accountant-only type way). Thanks for a great semester!
~Nikki D.
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