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Course
Objective :
This course is an introduction to basic accounting
principles for measuring and communicating financial
data about a business enterprise to external parties.
Topics include Financial Reporting and the
Accounting Cycle, Income Determination,
Current Assets, Intangible Assets, Time
Value of Money.
Prerequisites:
College Algebra.
Required
Textbook:
Financial Accounting 8th Edition, by Skousen, Albert,
Stice, Stice (South-western Publishing Co.)
By the end of the course, the student should understand
that the typical objectives of an introductory course
in accounting might be:
(a) To learn what accounting is and what it
is not, and how it fits into society and business.
(b) To become familiar with accounting concepts
and so to use accounting in your personal life. (e.g.
maintaining a checking account, preparing a budget,
and so on.)
(c) To learn how to read and understand annual
business report that includes the basic financial
statements. (Balance Sheet, Income Statement, Statement
of Cash Flows.)
Grading
: Your
grade will be based on the following table:
|
Quizzes |
20
points |
|
|
Internet
Exercises |
15
points |
|
|
2
Midterm Exams |
20
points |
|
|
Final
Exam (Cumulative) |
20
points |
|
|
TOTAL
POINTS: |
75 |
|
It is necessary that you take all three exams in order
to receive a grade in this course. In no case, will
a make-up exam be given prior to exam days, and only
in very rare instances will a make-up exam be
allowed after a mid-term exam. There is no
make-up exam for the Final Exam. Thee final
examination will be cumulative. Homework
not e-mailed in on time, will be graded zero.
Grading: Your
grade will be based on total points earned.
Grade breakdowns are as follows :
| A |
96-100 |
|
C |
73-76 |
| A- |
90-95 |
|
C- |
70-72 |
| B+ |
87-89 |
|
D+ |
67-69 |
| B |
83-86 |
|
D |
63-66 |
| B- |
80-82 |
|
D- |
60-62 |
| C+ |
77-79 |
|
F |
0-59 |
Web-site
Resources and Problems:
http://www.swcollege.com/vircomm/skousen_acct/toc.html
http://www.wiley.com/college/bcs/0471347744/wave_s.html
TENTATIVE
SCHEDULE*
|
Week |
Chapter |
TOPIC |
Exercises-Problems
for
practice |
On-Line
Tutorial
Quizz |
Internet
Exercices
for
submission |
|
1 |
1 |
Accounting
and its Environment |
Ex.
1-3 |
Chapter
1 |
|
|
1 |
2 |
Financial
Statements |
Ex.2-1
& Pr. 2-2 |
|
|
|
2 |
2 |
How
F/S tie together |
Pr.
2-13 |
Chapter
2 |
Net
Work Exercise 2-1 |
|
2 |
3 |
Introducing
the Accounting Cycle |
|
|
|
|
3 |
3 |
The
Basic Accounting Equation |
Ex.
3-3 |
|
|
|
3 |
3 |
The
two steps in the Accounting Cycle |
Ex.
3-4 |
|
|
|
4 |
3 |
The
third and fourth step |
Pr.
3-9 |
Chapter
3 |
Net
Work
Exercise
3-1 |
|
4 |
4 |
Periodic
Reporting - Accrual Accounting |
Ex.
4-2 & Ex. 4-3 |
|
|
|
5 |
4 |
Adjusting
Entries |
Pr.
4-2 |
|
|
|
5 |
4 |
Adjusting
Entries |
Pr.
4-4 |
|
|
|
6 |
4 |
Preparing
a Work-Sheet |
|
|
|
|
6 |
4 |
The
Closing Process |
Pr.
4-10 |
|
|
|
6 |
4 |
Preparing
a Post - Closing Trial Balance |
Pr.
4-14 |
Chapter
4 |
Net
Work Exercise 4-1 |
|
|
|
MID-TERM
I |
|
|
|
|
7 |
6 |
Revenue
Recognition |
Ex.
6-3 |
|
|
|
7 |
6 |
Accounts
Receivable & Bad Debts |
Ex.
6-11 & Pr. 6-3 |
|
|
|
8 |
6 |
Note
Receivables |
Ex.
6-22 |
Chapter
6 |
Net
Work Exercise 3-1 |
|
8 |
7 |
The
proper measurement of Inventory |
Pr.
7-1 |
|
|
|
9 |
7 |
Inventory
Errors |
Pr.
7-10 |
|
|
|
9 |
7 |
Inventory
Cost Flows |
Pr.
7-2 & 7-12 |
|
|
|
|
|
MID-TERM
II |
|
|
|
|
10 |
6 |
Bank
Reconciliation |
Ex.
6-18 |
Chapter
7 |
Spreadsheet
problem 6-17 |
|
10 |
9 |
Acquisitions
of Assets |
Ex.
9-15 |
|
|
|
11 |
9 |
Depreciation
Methods |
Pr.
9-16 |
|
|
|
11 |
9 |
Intangible
Assets |
Ex.
9-13 |
|
|
|
12 |
13 |
Statement
of Cash Flows |
Ex.
10-1, 10-2 & 10-3 |
|
Review
Problem |
|
|
|
FINAL
EXAM (Cumulative) |
|
|
|
General
Guidelines: All
submitted assignments, exams or problems must be typed,
with regular letters and saved in a Word document
format file. Regular Text files are also acceptable.
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