302 Accounting (First Course) 120 Classes

Prerequisite(s): None

Textbooks: Kermit D. Larson et al, Volume I: Fundamental Accounting Principles With Working Papers, McGraw Hill Irwin, 2007 (or comparable text)

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:

• to read, listen to, and speak about English language descriptions of accounting, the language of business;
• to develop oral fluency with numbers and numerical functions;
• to interpret charts, graphs, and other visual materials; and
• to apply accounting principles and procedures to analyzing and recording transactions, to accrual accounting and financial statement, to completing the accounting cycle, to accounting for merchandising activities and to merchandise inventories and sales costs.

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%

Course Outline:

Week	Topics	Assignments and Tests
1-24	Each week will include reading for detail to understand word problems. Most weeks will also include oral practice reading aloud and discussing statements with numbers and functions or oral interpretation of charts and graphs. .
1	Mapping the text: the text and its help features Accounting in the information age. Forms of organizations: business and non-business. 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.
2	Financial activities in organizations.	Reading: assigned. Questions: QS1-3 and 1-8; Exercises: 1-1 to 1-3; Problem Set: 1-1A.
3	Ethics and social responsibility. Career opportunities Small group work: 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: 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: pp. 46-51 Question: QS2-4; Exercises 2-3 to 2-5 Problem Set: 2-2A to 2-3A
6	Financial statements Small group work: provide the appropriate accounting solution for situations described in word problems.	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: pp. 78-87 Questions: QS3-1 to 3-2; Exercises: 3-1 to 3-2
8	Oal presentations:compute the balance for a T-Account. Review for exam.	Review exercises, as assigned. Bi-monthly exam
9	Processing transactions Small group work: provide appropriate accounting solution for situations described in word problems.	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: pp. 97-102 Questions: QS3-5 to 3-6; Exercises: 3-9 to 3-12; Problem Set: 3A
11	Accrual accounting	Reading: pp. 124-129 Questions: QS4-1 to 4-3; Exercises: 4-1 to 4-3 Problem Set: 4-1A
12	Adjusting accounts Small group work: providing appropriate accounting solution for situations described in 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: pp. 140-144 Questions: QS4-8 to 4-12; Exercises: 4-8 to 4-9; Problem Set: 4-3A
14	Completing the accounting cycle	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 Small group work: defining 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	Bi-monthly exam
17	Classified balance sheets: classification structure and categories	T: pp. 182-188 Questions: QS5-7: Exercises: 5-12 Problem Set: 6-1 A
18	Accounting for merchandising Small group work: 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	Reading: pp. 223-229 Questions: QS6-4 to 6-8: Exercises: 6-7 to 6-14; Problem Set: as assigned
20	Income statement formats	Reading: pp. 230-237 Questions: QS; Exercises: assigned; Problem Set: 6-4 to 6-5A
21	Merchandise inventories Small group work: 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: 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: pp. 273-283; Questions: QS7-9 to 7-10; Exercises: 7-9 to 7-12; Problem Set: 7-3 to 7-7A
24	Comparative analysis of two companies, ethics challenge, and entrepreneurial decision making Review for exam.	Comparative analysis A1, p. 298; Ethics challenge A 1, p. 298; Entrepreneurial decision BTN 7-8, p. 289 Bi-monthly exam

rev. 2/04, 2/07, 5/08