Intermediate Accounting I


  2. A. Course Title: Intermediate Accounting I
    B. Course Number: AC 213 - 30192
    C. Semester: Fall 2019
    D. Days/Time: W 6:00:00 PM - 9:00:00 PM
    E. Credit Hours: 3
    F. Instructor: Brister, Luke
    G. Office: C.M. Burke University Center (UC) 231
    H. Email Address:
    I. Office Phone: (575) 492-2657
    J. Office Hours: Monday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST); 5:00:00 PM-6:00:00 PM (MST);
    Wednesday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST); 5:00:00 PM-6:00:00 PM (MST);
    Friday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST);
    Other hours available by request.
    K. Time Zone: Mountain Time
    L. Prerequisite(s):
    M. Corequisite(s):
    N. Class Location: BUC238

    A refinement of the interpretation, recording, and reporting of financial data is introduced in this course. Topics studied will include accounting concepts and principles, underlying assets as reported on the balance sheet, effect on the income statement, and statement of retained earnings. This is a three credit hour course. Prerequisite: AC 124


    Intermediate Accounting I is the first course in the second year of Accounting. Intermediate Accounting I fulfills the degree requirements for the Associate of Applied Science an elective for the Associate of Arts. Intermediate Accounting I has been articulated in New Mexico and should transfer to all New Mexico schools. There is no guarantee of transferability and the student is advised to check with the receiving institution if they intend to transfer to another institution.



    Either Cengage Unlimited or the textbook listed below:

    Intermediate Accounting: Reporting and Analysis (loose leaf); Wahlen, James M; Jones, Jefferson P.; Pagach, Donald P. Bundle with CengageNOWv2, 2 terms (12 months) Instant Access for Intermediate accounting ISBN 978-1305616998 required


    You can buy your books online at the NMJC Bookstore.


    Students attending New Mexico Junior College will be evaluated according to the following grading scale:

    						90 - 100%	=	A
    						80 -  89%	=	B
    						70 -  79%	=	C
    						60 -  69%	=	D
    					 	 0 -  59%	=	F

    I use a percent of total points system to compute the grades for each section, (homework, quizzes, unit test, and practice set) that percentage is then multiplied by the weight factor to calculate your final grade.

    Homework 35%
    Unit tests 35%
    Project 15%
    Study quizzes 10%
    Module zero completion 5%


    New Mexico Junior College’s institutional student learning outcomes represent the knowledge and abilities developed by students attending New Mexico Junior College. Upon completion students should achieve the following learning outcomes along with specific curriculum outcomes for respective areas of study:


    Students in the Business/Computer Science Departments should be able to:
    1) Demonstrate an understanding of industry specific ethics (self & community),
    2) Prepare and interpret documents,
    3) Interpret and characterize data appropriate to the course (critical thinking),
    4) Demonstrate computer skills appropriate to the course, and
    5) Demonstrate the value of professionalism in the workplace.


    a. Summarize intermediate financial accounting concepts and principles.
    b. Distinguish between qualitative characteristics, constraints, and assumptions.
    c. Journalize post, pull a work sheet, adjust, and close an accounting cycle.
    d. Compile a Single-Step and Multi-Step Income Statement.
    e. Prepare a Classified Report Form and Account Form Balance Sheet.
    f. Compute Present Values and Future Values.
    g. Prepare two column bank reconciliation.
    h. Discount a note, write off a note, and issue a note.
    i. Compute inventory using specific identification, average cost, first-in first out and last-in first-out, using periodic and perpetual methods.
    j. Acquire and dispose of property, plant, and equipment.
    k. Compute depreciation, using the following methods: straight-line method, units-of-production method and declining-balance method.
    l. Compute LIFO Reserve and LIFO Liquidation.
    m. Compute Gross Profit Method and Retail Inventory Method.
    n. Compute Like Kind Exchanges.


    Students will be held responsible for the information on these pages.

    Academic Honesty
    Each student is expected to maintain the highest standards of honesty and integrity in online academic and professional matters. The College reserves the right to take disciplinary action, up to and including dismissal, against any student who is found guilty of academic dishonesty or otherwise fails to meet these standards. Academic dishonesty includes, but is not limited to, dishonesty in quizzes, tests, or assignments; claiming credit for work not done or done by others; and nondisclosure or misrepresentation in filling out applications or other College records. Cheating or gaining illegal information for any type of graded work is considered dishonest and will be dealt with accordingly.

    Americans with Disabilities Act (ADA) Information
    Any student requiring special accommodations should contact the Special Needs Student Services Coordinator at (575) 492-2576 or by e-mail at

    Attendance Policy
    Attendance is required at every session of each course for which the student is enrolled. When unavoidable circumstances make attendance impossible, students must provide a satisfactory explanation of their absences to their professors. College-sponsored activities are considered excused absences and the appropriate sponsor of those students who will be absent from class will notify professors. Students having absences due to college-sponsored activities will need to make arrangements with the affected classes / professor to take care of required work; however, arrangements for make-ups should be made within a reasonable time frame, usually within one week of the absence. Regarding make-up work, absences due to late registration are considered the same as regular absences.

    Cell Phones/Pagers
    All cell phones and pagers must be turned off when the student is participating in any lecture, laboratory, or other learning activity.

    Classroom Conduct
    The professor is responsible for maintaining a class environment best suited for effective learning. By registering for this class, the student is assumed to have entered into an agreement with New Mexico Junior College and the professor to attend the class regularly and to behave in an appropriate manner at all times. Disruptive behavior may result in the student being removed from the class.

    Food and Drink Policy
    Food items and soft drinks may not be consumed in NMJC classrooms. Students are also discouraged from bringing food and drink items into the classroom even though these items remain in sealed packaging. Bottled water is permissible.

    No Children in the Classroom
    In order to adhere to instructional procedures as well as maintain the safety of children, NMJC’s policy of no children in the classrooms (lecture, lab, etc.) will be followed.

    Offering the work of another as one’s own, without proper acknowledgment, is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical expression of material taken from books, encyclopedias, magazines and other reference works, or from the themes, reports, or other writings of a fellow student, is guilty of plagiarism. Plagiarism violates the academic honesty policy and is considered cheating.

    Smoking/Use of Tobacco
    New Mexico Junior College is cognizant of the health hazards associated with smoking / use of tobacco for the smoker, as well as the non-smoker. In an effort to provide a healthy environment for students, employees, and others who may frequent the campus, NMJC prohibits smoking / use of tobacco inside any campus building or facility.

    Tutoring Assistance
    Free tutoring services are available to all NMJC students through Brainfuse and the Academic Success Center located at the Pannell Library on the 1st floor.

    Withdrawal Policy
    Regular, punctual attendance is required for all classes at NMJC. Although the professor has the right to drop any student who has missed the equivalent of 2 weeks of instruction (based on a 16 week semester) whether it’s a face to face, online, or a hybrid course, it is not guaranteed that the professor will drop the student. If the student chooses to stop attending a class, he/she should withdraw from the class by accessing your student account in the T-Bird Web Portal at, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Tuesday, November 19, 2019. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.



    Assignment Due
    Sun Aug 26, 2018 Chapter 1 Chapter Introduction due by 11:55pm
    Academic Honesty due by 11:59pm
    Contact information due by 11:59pm
    Ethics Quiz due by 11:59pm
    Professionalism Quiz due by 11:59pm
    Sign up for course due by 11:59pm
    Syllabus Quiz  due by 11:59pm
    Sun Sep 2, 2018 Chapter 2 Chapter Introduction due by 11:55pm
    Chapter 1 Homework due by 11:59pm
    Sun Sep 9, 2018 Chapter 3 Chapter Introduction due by 11:55pm
    Chapter 2 Homework due by 11:59pm
    Sun Sep 16, 2018 Chapter 4 Chapter Introduction due by 11:55pm
    Chapter 3 Homework due by 11:59pm
    Exam 1 (Chapters 1 & 2) due by 11:59pm
    Sun Sep 23, 2018 Chapter 5 Chapter Introduction due by 11:55pm
    Chapter 4 Homework due by 11:59pm
    Sun Sep 30, 2018 Chapter 5 Homework due by 11:59pm
    Time Value of Money Chapter Introduction due by 11:59pm
    Sun Oct 7, 2018 Chapter 6 Chapter Introduction due by 11:55pm
    Exam 2 (Chapters 3, 4, & 5) due by 11:59pm
    TVM Homework due by 11:59pm
    Sun Oct 14, 2018 Chapter 7 Chapter Introduction due by 11:55pm
    Chapter 6 Homework due by 11:59pm
    Sun Oct 21, 2018 Chapter 8 Chapter Introduction due by 11:55pm
    Chapter 7 Homework due by 11:59pm
    Exam 3 (TVM module and Chapter 6) due by 11:59pm
    Sun Oct 28, 2018 Chapter 9 Chapter Introduction due by 11:55pm
    Chapter 8 Homework due by 11:59pm
    Sun Nov 4, 2018 Chapter 10 Chapter Introduction due by 11:55pm
    Chapter 9 Homework due by 11:59pm
    Sun Nov 11, 2018 Chapter 11 Chapter Introduction due by 11:55pm
    Chapter 10 Homework due by 11:59pm
    Exam 4 ( Chapters 7, 8, & 9) due by 11:59pm
    Sun Nov 18, 2018 Chapter 11 Homework due by 11:59pm
    Sun Dec 2, 2018 Exam 5 ( Chapters 10 & 11) due by 11:59pm
    Project due by 11:59pm
    Sun Dec 9, 2018 Presentations due by 11:59pm