Course Description:
While
developing English language skills, this first course in an accounting sequence
introduces students to the purposes and principles of accounting and the
practice of fundamental accounting procedures. Students analyze and apply
accounting concepts and procedures to real-life situations drawn from various
types of businesses.
Objectives: By the end of the course,
students should be able:
Instructional Methods:
Classes
will include reading for detail, oral discussion, oral practice with numbers,
instructor and student explanations of basic accounting principles and
procedures, and problem solving through analytical and procedural exercises
within real-world business and financial contexts.
Grading: The final grade is based on the following:
|
Class Participation |
25% |
|
Assignments |
50% |
|
Exams |
25% |
|
Total |
100% |
The grading scale is: A=90-100%, B+=85-89%, B=80-84%, C+=75-79%, C=70-74%, D=65-69%, F=60-64%.
|
Week |
Topics |
Assignments and
Tests |
|
1 |
Mapping
the text: Learning to use the text and its help features Accounting
in the information age: influence and
focus of accounting; forms of organization; financial activities in organizations;
accounting information users; ethics and social responsibility; career
opportunities. Forms
of organizations: business and non-business. Developing
a vocabulary log with complete sentence definitions and illustrations.
Vocabulary guidelines: write two
complete sentences for each word, one that describes its meaning and one that
gives an example of its use. Answering
questions using complete sentences that respond to the question. Responding
to exercises that require a written response with complete sentences that
explain why the answer is correct. Reading
for detail to understand word problems.
Chart
interpretation: Exhibits 1.1. and
1.2. |
Begin
a vocabulary log, following teacher's instructions. Reading: chapter learning objectives; chapter
preview; pp. 1-9. Questions:
QS 1-1 to 1-3. Answer questions in
one or more complete sentences, following the guidelines provided by the
instructor. |
|
2 |
Financial
activities in organizations:
planning, financing, investing, and operating. Financial
statements: balance sheets, income
statements, statement of changes in owner's equity, statement of cash flows Reading
for detail to understand word problems. Oral
practice: reading aloud and
discussing statements with numbers and functions (exhibits 1.8 to 1.11) |
Vocabulary
log; reading: pp. 10-16. Questions:
QS1-3 and 1-8. Exercises:
1-1 to 1-3, as assigned. (Where exercises require a written response, answer
in complete sentences with answers that explain why the answer is
correct.) Problem
Set: 1-1A. |
|
3 |
Ethics
and social responsibility:
understanding ethics and social responsibility Career
opportunities: financial, managerial,
tax, and other accounting specializations and accounting-related
opportunities Reading
for detail to understand word problems.
Oral
practice: oral discussion involving numbers and functions (exhibit 1.17) Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. |
Vocabulary
log; reading: pp. 16-21 Questions: QS 1-9 and 1-10 Exercises:
1-9 to 1-11. Problem
Set: 1-1B to 1-3B |
|
4 |
Financial
statements: communicating with
financial statements; generally accepted accounting principles; introduction
to the accounting equation Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 36-46 Question: QS 2-1
Exercises: 2-1 to 2-2 Problem
Set: 2-1A |
|
5 |
Business
transactions: transactions and the
accounting equation Reading
for detail to understand word problems.
Oral
practice: oral discussion involving numbers and functions Oral
chart interpretation. |
Vocabulary
log; reading: pp. 46-51 Question: QS2-4
Exercises
2-3 to 2-5 Problem
Set: 2-2A to 2-3A |
|
6 |
Financial
statements: income statements,
changes in owner's equity, balance sheets, cash flow statements Reading
for detail to understand word problems. Small
group work: defining how to provide the
appropriate accounting solution for situations described in word
problems. Oral
interpretation of charts, graphs, and tables. |
Vocabulary
log; reading: pp. 52-57 Questions:
QS 2-5 Exercises: 2-6A to 2-9A Problem
Set: 2-4A to 2-6A |
|
7 |
Analyzing
transactions: transactions and
documents, accounts and double entry accounting Reading
for detail to understand word problems.
Oral
practice: oral discussion involving numbers and functions |
Vocabulary
log Reading: pp. 78-87 Questions: QS3-1 to 3-2 Exercises: 3-1 to 3-2 |
|
8 |
Individual
oral presentation of how to compute the balance for a T-Account. Review
for test. |
Vocabulary
log Review
exercises, as assigned. Write
a paragraph or more in which you explain how to compute the balance for the
T-Account in exhibit 3.6. Test |
|
9 |
Processing
transactions: journalizing
transactions, balance column accounts, and posting journal entries Reading
for detail to understand word problems. Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. Oral
chart, graph, and table interpretation.
|
Vocabulary
log Reading: pp. 88-96 Questions: QS3-4 Exercises: 3-2 to 3-8 (as assigned) |
|
10 |
Trial
balance: preparing, using,
correcting, and presenting trial balances Reading
for detail to understand word problems. Oral
practice: reading aloud and
discussing statements with numbers and functions. |
Vocabulary
log Reading: pp. 97-102 Questions: QS3-5 to 3-6 Exercises: 3-9 to 3-12 (as assigned) Problem
Set: 3A (as assigned) |
|
11 |
Accrual
accounting: timing and reporting,
adjusting, recognizing revenues and expenses; accrual vs. cash flow basis Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 124-129 Questions: QS4-1 to 4-3 Exercises:
4-1 to 4-3 Problem
Set: 4-1A |
|
12 |
Adjusting
accounts: adjusting for expenses, depreciation, unearned revenue, etc. Reading
for detail to understand word problems. Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. |
Vocabulary
log; reading: pp. 129-139 Questions:
QS4-4 to 4-7 Exercises: 4-4 to 4-7 Problem
Set: 4-2A |
|
13 |
Financial
statements: preparing financial
statements Reading
for detail to understand word problems Oral
chart, graph, and table interpretation.
|
Vocabulary
log; reading: pp. 140-144 Questions:
QS4-8 to 4-12 Exercises: 4-8 to 4-9 Problem
Set: 4-3A |
|
14 |
Completing
the accounting cycle: the closing
process for temporary and permanent accounts, recording closing entries, and
post-closing trial balance Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 168-174 Questions: QS5-1 to 5-4 Exercises: 5-1 to 5-7 Problem
Set: 5-1A to 5-3A |
|
15 |
Using
the work sheet as a tool: using the
work sheet, statement of cash flows, and reviewing the accounting cycle Reading
for detail to understand word problems.
Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. |
Vocabulary
log; reading: pp. 174-181 Questions: QS5-5 to 5-6 Exercises: 5-8 to 5-11 Problem
Set: 5-4A |
|
16 |
Review
for test |
Vocabulary
log; review exercises TBA Write
a paragraph or more explaining what someone looking at the statement of cash
flows in exhibit 5.11 can tell about the financial situation of the
company. Test |
|
17 |
Classified
balance sheets: classification
structure and categories Reading
for detail to understand word problems.
Oral
chart, graph, and table interpretation.
|
Vocabulary
log; reading: pp. 182-188 Questions: QS5-7 Exercises: 5-12 Problem
Set: 6-1 A |
|
18 |
Accounting
for merchandising: merchandising
activities and merchandise purchases, including discounts, returns,
allowances, etc. Reading
for detail to understand word problems.
Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. |
Vocabulary
log; reading: pp. 212-222 Questions: QS6-1 to 6-2 Exercises: 6-1 to 6-5 Problem
Set: 6-3 A |
|
19 |
Merchandise
sales and other merchandise issues: sales
transactions, discounts, returns, allowances, cost and price adjustments,
cost flows, etc. Reading
for detail to understand word problems. Oral
chart, table, and graph interpretation.
|
Vocabulary
log; reading: pp. 223-229 Questions: QS6-4 to 6-8 Exercises: 6-7 to 6-14 Problem
Set: as assigned |
|
20 |
Income
statement formats: multiple-step and
single-step income statements, merchandising cash flows Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 230-237 Questions: QS Exercises: ---- Problem
Set: 6-4 to 6-5A |
|
21 |
Merchandise
inventories: assigning costs to
inventory and inventory analysis and effects Reading
for detail to understand word problems.
Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. |
Vocabulary
log; reading: pp. 260-269 Questions: QS7-1 to 7-6 Exercises: 7-1 to 7-3 Problem
Set: 7-1A |
|
22 |
Inventory
items and costs Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 270-272 Questions: QS7-7 to 7-8 Exercises: 7-4 & 7-7 to 7-8 Problem
Set: 7-2 A |
|
23 |
Other
inventory valuations Reading
for detail to understand word problems.
|
Vocabulary
log; reading: pp. 273-283 Questions: QS7-9 to 7-10 Exercises: 7-9 to 7-12 Problem
Set: 7-3 to 7-7A to |
|
24 |
Putting
it all together: comparative analysis
of two companies, ethics challenge, and entrepreneurial decision making Reading
for detail to understand word problems.
Small
group work: defining how to provide
the appropriate accounting solution for situations described in word
problems. Review
for test. |
Vocabulary
log Comparative
analysis A1, p. 298 Ethics
challenge A 1, p. 298 Entrepreneurial
decision BTN 7-8, p. 289 Test. |