Grunting and moaning

I'm standing at the front podium watching seven students take their first accounting test of the semester. I see a lot of painful expressions with weird noises coming from all directions. This was the easiest test I ever put together. Good thing I didn't give them the hard test.

The silly FVCC copyroom figured that they would save the environment and not use staples for the year. Thus the paper clip approach to the test. I almost didn't get the test on time. When I went to the mailroom all the doors were locked. Fortunately for everyone I found a custodian to get me the key to the test drawer. I won't give you her name so you can't egg her house.

Patrick came to my house yesterday to take the test and get a jump on a long weekend. Think he said he was going to Hawaii to visit his son.

Jeff already needed a new answer sheet as he skipped a page or two.

This is Ashley's 3rd test today. I thought we planned to have 4 tests for her today. I better talk to her other instructors to make sure we don't make the same mistake again.

Found this like on MSN listing the top 10 most versitile college programs to graduate from. Business administation is #1 on the list. Nice to see this even through the economic times we are in.

Think I found my new Ashley. This years Ashley is already to the long answer after 20 mins of class time. Should be done the test in half an hour. Not bad.

Homework:

Read Chapter 4

Test time

No baby yet. Wife is thirty eight and a half weeks pregnant. Hopefully it comes soon but we still have a couple weeks before it's acutally due.

Gave an overview of the monopoly project. We found out that Camas has never played monopoly before. Must have been a sheltered life of video games and skiing. Jeff has some nice home rules about putting the land money in the free parking. Watch him, he sounds like a professional.

Didn't get the teams listed. Before the test we should get those arranged so figure out your teams so you can hand them in to me.

Went over the adjustments homework. Seemed to be a fast moving class. Hopefully it was enough practice for the test.

Went over the test in class. Gave some solid hints as to what to expect on the test. Test is on chapters 1 thru 3.

Also noted that this is probably the easiest test I've ever made so hopefully that holds true.

Homework:

Study for the test Thursday

Homework and finish chapter 3

Had a visit from my good friend Liz. She just wanted to stop in and tease all the current students that she doesn't have to sit through another minute of my accounting class. Liz works for a company in Eureka that does internet marketing. They are looking at putting a new accounting system into their business so was asking me questions about that.

Gave back quizzes. Most were ok with their scores.

Started homework. Looked like most of you didn't even attempt the problems. Trust me. It's easy when we all do it together. You need to try it yourself if you want to do good on the tests.

David is turning into an accounting geek as he popped a great accounting joke. It was his turn to take a questions and he said "This is a cruel question". Very funny as it was an accrued revenue question.

Still have some doubts if everyone is clear on debits and credits. It takes time but if you are in doubt draw out the debit/credit model to help.

We were off by $300 on our balance sheet. Hope someone finds the lost amount. I can't stand thinking the world is not balanced.

Went through income statments and balance sheets. Will be able to finish up the questions on Tuesday.

Homework:

Finish questions from last post.

Bring your Monopoly book so I can assign the project.

Chapter 3 - Adjusting entries

Wonder class tonight. Lots of accounting concepts to get our accounting fix for the evening. Started out with a quiz and it looks like most people did fairly good. I thought it would take 10 to 15 mins and ended up taking 30 mins. I miss having Ashley L in class to judge how long quizes and test should take (double to triple Ashley's time).

Our new Ashley started out the class reminding everyone how easy it will be to fool me on the quiz as I never find mistakes anyways.

Camas is working at Sportsman but just for the discount.

Jason is back but missed the homework so he was laughing when he took the test.

Jeff is into Amway.

Haven't found out what everyone else does.

Homework:

•E3-19
•E3-21
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•P3-33A
•P3-34A

Chapter 2 has come and gone

Finished homework last night so we will have a quiz come next Tuesday. Then start chapter 3. Had a fun class with everyone participating. Ashley was giddy most of the night. She did a great job on leading us on one of the questions on the chalkboard. I made lots of mistakes as usual. Glad everyone helped me through or we'd still be figuring out the questions.

Missed Jason and Deva. Two in a row for Deva so wondering now if she's MIA forever.

Homework:

Read Chapter 3

Wrapping up debits and credits

Heard a few yawns last night. Deva and Jeff were MIA. Started homework after finishing up the chapter lecture. Got to the problems so will hopefully get all the homework done on Thursday.

Thanks to Jason and Jon for providing calculators for the class. I'm sure we could be quicker in the problems if we don't have to wait to add things up. (Meaning, do your homework before you come to class).

Good participation as a whole. Ashley hides on the side but participates when called upon. Camas tries to hide at the back but with such a small class everyone has to take a turn.

Started hearing accounting terminolgy during our homework problems. Music to my ears.

BYU had a big win over the weekend. Brownie points to anyone congratulating me on the big OU win.

Homework:

Finish homework assigned for chapter 2

Hitting the semester running

Lisa showed up to class increasing our enrollment to 9 in all. Everyone else showed up for the second class in a row. Guess I didn't scare anyone away yet.

As always, I can't tell if anyone likes the class. Accounting may only be an interesting subject to me.

Finished off Chapter 1 by looking at simple financial statements. Tackled chapter 2 and assigned homework.

Chapter 2 introduces many fundamental accounting principals. Main ideas from lecuture include the accounting flow, double entry accounting (debits and credits), "T" accounts and the Chart of accounts.

The accounting flow is as follows:

1. Transaction occurs
2. Source document is generated (reciept or invoice)
3. Transaction is recorded (journalized)
4. Journalized transaction is posted to the ledger
5. All ledger accounts are summarized in the trial balance.
   

The next concept is something that is dear to any accountants heart, Debits and Credits. Below is the model that we will use to help us journalize any transaction.

Also inherent in the model is the normal balances for each account. Normal balances are debits for assets and expenses, Credit for liabilities, owner equity, and revenue. We will do about a thousand transactions using this model and it will become second nature.

I assigned a bunch of homework. We will get through maybe half (if we are lucky) on Tuesday. Less if we are not. Don't get overwhelmed by the homework load. We will go over the questions in class. Hopefully by next Thursday these questions will be a piece of cake.

I hope to change the girly music soon to appeal to our male contingent. Haven't gotten to it yet. Although I'm kind of a girl when it comes to music and movies. I have 5 younger sisters so have seen my share of Grease, Dirty Dancing, etc.

Homework:

Read chapter 2

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E2-20
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P2-33A
P2-34A
P2-35A

First day of class 2009

Nice surprise to see so many males in class. As I said in class, last year I had 13 females so it made all my sports references moot.

I remembered Camas after class. He's the guy behind the ski adjusting counter at Sportsman. I need to get some ski's adjusted this year so maybe I can get special treatment now. ha. Glad his dad is making him take this class.

Jeff is married. Didn't say if he has kids. Jason and Jon I think are married as well. I think I remember Deva and Ashley say they weren't married. Deva says she's bad with money so needs to take this class. Ashley has 20 credits. Crazy.

David worked/works? for Semitool. Must be involved with purchasing somehow.

Patrick ran and owned some businesses before. Sounds like he took care of the books for the company. Good experience.

I tried to keep everyone awake. As you hopefully can tell, I'm pretty casual during class. If I can make a joke, I will. Some will be humourous, some will make you groan. Anything to get a response.

I'm gonna have to bring a clock or I'm going to go crazy. Terrible to not know what time it is during the lecture.

Here are the instructions for My Accounting lab:

To register, you will need a student access code and a course ID. If you purchased a new textbook, it should have come with a Student Access Kit that contains a code you can use to register. If you do not have a Student Access Kit, you can purchase access online with a major credit card.
Course ID: XL0E-B1KR-001Y-9K72
Course Name: Accounting 8e 201

1. Go to www.myaccountinglab.com and click the Student button, in the Register section.
2. Enter the course ID, XL0E-B1KR-001Y-9K72 and click Next.
3. Choose to register an access code (came with your new book) or purchase access if you don’t have an access kit/code.
4. Click the button to proceed to registration.
5. Follow the instructions to create your account (school zip code required to complete).
6. Click the link to login. You’ll be directed to www.myaccountinglab.com, where you can enter the user name and password you just created. Click the login button.
7. The first time you enter the site, you will need to choose how you will work in MyAccountingLab. Select the " I am taking a course that is using MyAccountingLab, and need to enroll in my instructor's course." option.
8. You’ll be asked to enter a course ID. Re-enter your course ID, XL0E-B1KR-001Y-9K72
9. Be sure to click on the Browser Check link on the Announcements page or in the upper right of the screen the first time you login and anytime you use a new computer. This wizard will walk you through the installation of the software you will need to use the MyAccountingLab resources (such as Flash).

Note: the software may already be installed in the school lab, so in that case check first with your lab administrator.

Homework:

Read Chapter 1

P1-33A