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 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: the text
and its help features Accounting in the
information age. Forms of organizations:
business and non-business. Reading for detail to
understand word problems. Chart interpretation: Exhibits 1.1. and 1.2. |
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. 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) |
Reading: assigned. 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. Career opportunities:
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. |
Reading: assigned 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. |
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. |
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. |
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: discussion
about numbers and functions |
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 exam. |
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. Bi-monthly exam |
|
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. |
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. |
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. |
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: providing the appropriate accounting
solution for situations described in word problems. |
Reading: pp. 129-139 Questions: QS4-4 to 4-7 Exercises: 4-4 to 4-7 Problem Set: 4-2A |
|
13 |
Preparing financial
statements. Reading for detail to
understand word problems Oral chart, graph, and
table interpretation. |
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. |
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: stating 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. |
Reading: pp. 174-181 Questions: QS5-5 to 5-6 Exercises: 5-8 to 5-11 Problem Set: 5-4A |
|
16 |
Review for exam |
In writing, explain what
someone looking at the statement of cash flows in exhibit 5.11 can tell about
the financial situation of the company.
Bi-monthly exam |
|
17 |
Classified balance
sheets: classification structure and
categories Reading for detail to
understand word problems. Oral chart, graph, and
table interpretation. |
T: 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. |
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. |
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. |
Reading: pp. 230-237 Questions: QS Exercises: assigned 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. |
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. |
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. |
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 exam. |
Comparative analysis A1, p.
298 Ethics challenge A 1, p.
298 Entrepreneurial decision
BTN 7-8, p. 289 Bi-monthly exam |