Question: Accounting I Course Description: This course provides an introductory study of the financial accounting cycle with emphasis on service and merchandising businesses and the proprietorship form of business organization. Fundamental accounting principles are emphasized as they apply to the accounting cycle.
Course Content/Outline: Chapter 1: Accounting in Business
Chapter 2: Analyzing and Recording Transactions
Chapter 3: Adjusting Accounts and Preparing Financial Statements
Chapter 4: Completing the Accounting Cycle
Chapter 5: Accounting for Merchandising Operations
Chapter 6: Inventories and Cost of Sales
Chapter 7: Accounting Information System
Chapter 8: Cash and Internal Controls
Chapter 9: Accounting for Receivables
Chapter 10: Plant Assets, Natural Resources, and Intangibles
Chapter 11: Current Liabilities and Payroll Accounting
Chapter 12: Accounting for Partners
Instructional Methods: Students are expected to attend all class meetings and complete assignments. Class periods are directed by the instructor and include lecture, illustration, discussion, quizzes and examinations. Access to the Internet is required for access to BLACKBOARD and CONNECT used for QUIZZES, ASSSIGNMENTS. The Discussion Posting and Exams are located in BLACKBOARD.
Students who are not present when attendance is taken will be marked absent unless exception is granted by the instructor.
Learning Objectives: After completing this course, you should be able to:
1) Describe the steps in the financial accounting cycle and record business transactions in an accounting system.
2) Describe the generally accepted accounting principles introduced in the text.
3) Describe the role of accounting in business and characterize the different types of business organizations.
4) Describe the information presented in general purpose financial statements, prepare simple financial statements, and analyze a company's performance using information from the financial statements.
5) Students will use data for business decision-making