Acct-220 Fundamentals Of Financial Accounting

I. Course Description:

• Accounting reports for external use.
• Preparation and interpretation of income statements, balance sheets, and reports of change in cash flow.
• Introduction to techniques of accumulating and reporting accounting information; principles of measuring assets, liabilities and equity; recognition and matching of revenues and expenses.

II. Course Objectives:

• This course is designed to introduce you, the student, to the fundamental concepts, rules, and procedures of financial accounting.
• It should provide you with a basic understanding of the primary financial statements and their interrelationships, as well as the underlying accounting procedures used to produce those statements.
• In addition, the course examines the role of financial accounting within the business environment.
• It demonstrates some of the numerous ways financial accounting information is used in making business decisions.
• The course also exposes students to broader accounting topics such as current trends in accounting policy, the nature of U.S. accounting methods relative to those used in other countries, and ethics issues facing those involved in producing, reporting, and analyzing accounting information.

III. Tentative Course Outline:

Week 1

• 1 Ch. 1 Course Overview/Introduction to Financial Accounting
• 2 Ch. 1 Introduction to Financial Accounting E1-4; E1-5; E1-8; P1-5A, E1-12; E1-13; P1-6A

Week 2

• 3 Ch. 2 Processing Accounting Information E2-2; E2-5; E2-6; E2-8
• 4 Ch. 2 Processing Accounting Information E2-3; E2-7; E2-15; P2-5A; P2-7A

Week 3

• 5 Ch. 3 Accrual Accounting
• 6 Ch. 3 Accrual Accounting E3-4; P3-2A

Week 4

• 7 Ch. 3 Accrual Accounting E3-6; E3-9; P3-4A
• 8 Ch. 3 Accrual Accounting P3-7A; E3-19

Week 5

• 9 Midterm #1 Ch. 1-3
• 10 Ch. 5 Accounting for Receivables

Week 6

• 11 Ch. 5 Accounting for Receivables E5-5; P5-3A
• 12 Ch. 5 Accounting for Receivables E5-6; P5-7A

Week 7

• 13 Ch. 6 Accounting for Merchandising and Inventory E6-1; P6-2A
• 14 Ch. 6 Accounting for Merchandising and Inventory E6-3; P6-4A; P6-6A

Week 8

• 15 Ch. 6 Accounting for Merchandising and Inventory E6-18; P6-7A; E6-4; E6-10; E6-8
• 16 Ch. 7 Accounting for Plant Assets E7-1; P7-1A; P7-2A; E7-18

Week 9

• 17 Ch. 7 Accounting for Plant Assets E7-6; P7-5A
• 18 Ch. 7 Accounting for Plant Assets P7-7A; P7-6A

Week 10

• 19 Midterm #2 Ch. 5-7
• 20 Ch. 8 Accounting for Liabilities E8-1; P8-2A; E8-2; E8-4; E8-11

Week 11

• 21 Ch. 8 Accounting for Liabilities
• 22 Ch. 8 Accounting for Liabilities

Week 12

• 23 Ch. 8 Accounting for Liabilities P8-4A
• 24 Ch. 8 Accounting for Liabilities E8-13; P8-8A

Week 13

• 25 Ch. 9 Stockholders’ Equity E9-2; E9-4; P9-6A
• 26 Ch. 9 Stockholders’ Equity E9-8; P9-7A; P9-9A

Week 14

• 27 Ch. 13 Financial Statement Analysis E13-7; E13-2; E13-4; E13-3
• 28 Ch. 13 Financial Statement Analysis P13-5A;

Week 15

• 29 Ch. 13 Financial Statement Analysis P13-6A

Comprehensive Final

IV. Textbook and Other Instructional Material

• Required Reading Financial Accounting, NY: Prentice Hall, Walter T. Harrison and Charles T. Horngren