Course
Syllabus in Fundamentals of Accounting 1
I.
Course Code: Acctg1
II.
Course Description:
This
course provides and introduction to accounting, within the context of business
and business decisions. Students obtain basic understanding of the
principles and concepts of accounting as well as their applicability and
relevance in the national context and learn how to use various types of
accounting information found in financial statements and annual reports.
Emphasis is placed on understanding the reasons underlying basic accounting
concepts and providing students with an adequate background on the recording,
classification, and summarization functions of accounting to enable them to
appreciate the varied uses of accounting data.
Credit Units : 3 units
Contact
Hours : 52 hours, 3 hours per
week
Prerequisites : (None)
III.
Course Outcomes: At the end of the course,
students are expected to:
a.
GENERAL : Apply the accounting principles covering the problems in
accounting
b.
SPECIFIC : Appreciation of accounting concepts for problems in
accounting
IV.
Course Contents:
|
Objectives
|
Topics
|
# of meetings
|
Grading
Period
|
Teaching Learning Activities
|
Assessment Tools
|
|
1.
Define accounting and bookkeeping
2.
Learn how accounting helps business
3.
Know the type of business activities.
4.
Distinguish the different kinds and forms of business
organization
5.
Identify the specialized fields of accounting
6.
Know the users of accounting reports.
|
1.1 Definition, purpose, nature, functions, scope and objectives of accounting
1.2 Different
branches of accounting ( financial, managerial, etc)
1.3 Users
of accounting information (internal vs external users)
1.5 Double
entry bookkeeping
1.6 Forms
of business organization and their activities
1.7 Accounting
concepts and principles
1.8 The
basic financial statements of business organizations
1.9 Relationships
among the financial statements
1.10 Definition,
classification and examples of assets, liabilities, capital or owner’s
equity, income, and expenses.
1.11 The accounting
profession: career opportunities
1.12 Specialized accounting
fields (public accounting, private accounting, government accounting,
accounting education)
|
4
meetings
|
Midterms
|
Lecture/
PPT
Presentation
Problem-solving
Board
Exercises
|
Assignments
Seatwork
Quizzes
Recitations
|
|
1.
Learn the basic accounting values or elements
2.
Know the difference between debit and credit
3.
Know the rules of addition and subtraction by position
4.
Analyze the effects of a transaction in the accounting
values.
5.
Learn how to record formally in the general journal
(journalizing)
6.
Learn how to record formally in the general ledger
(posting)
7.
Learn how to prepare preliminary trial balance
8.
Know the statements produced by accounting
|
2.1 Definitions of
business transactions and source documents
2.2 Summary of business
activities (financing, investing, operating)
2.3 The accounting
equation
2.4 Analyzing and
accounting for business transactions
2.5 The account and T-account
2.6 Rules of debit and
credit
2.7 Chart of accounts and
normal balances of an account
2.8 Recording in two-column journal
(initial investment by owner, changes in assets, liabilities and capital,
changes in income and expenses, withdrawals of owners)
2.9 Posting to the ledger
2.10 Preparing the trial
balance
2.11 Presentation of results of routine
transactions by preparing the Basic Income Statement, Owner’s Equity
Statement, Balance Sheet, and Statement of Cash Flows
|
5 meetings
|
Midterms
|
Lecture/
PPT
Presentation
Problem-solving
Board
Exercises
|
Assignments
Seatwork
Quizzes
Recitations
|
|
MIDTERM EXAMINATION
|
|||||
|
1.
Know what is an accounting period and its significance.
2.
Differentiate nominal from real account.
3.
Know the items normally adjusted at the end of an
accounting period.
4.
Prepare the adjusting journal entries.
5.
Understand the purpose of adjusting entries.
6.
Prepare a worksheet
7.
Distinguish between a preliminary and adjusted trial
balance.
|
3.1 Accrual-basis
accounting vs Cash-basis accounting
3.2 Accounting
period
3.3 Revenue
principle
3.4 Matching
principle
3.5 Time
period concept
3.6 Overview
of the adjusting process
3.7 Adjustments
for prepayments (deferrals), accruals, uncollectible accounts receivable,
depreciation of property, plant and equipment
3.8 Preparation of the adjusted
trial balance and financial statements
3.9 Use
of accounting information for decision making
|
4 meeting
|
Finals
|
Lecture/
PPT
Presentation
Problem-solving
Board
Exercises
|
Assignments
Seatwork
Quizzes
Recitations
|
|
8.
Enumerate the procedures in the accounting process in a
sequential order.
9.
Distinguish the Preliminary Trial Balance, Adjusted
Trial Balance, and Post-closing Trial Balance.
10.
Distinguish between the Asset Method and the Expense
Method for recording expenses paid in advance.
11.
Distinguish between the Liability Method and the Income
Method for recording income collected in advance.
12.
Know how to prepare the closing entries.
13.
Know how to close the books by ruling the ledger.
14.
Understand the
purpose of preparing the opening entry.
|
4.1 Overview
of the accounting
cycle
4.2 Preparing
an accounting worksheet
4.3 Using
the worksheet
4.4 Preparing
financial statements form the worksheet (income statement, owner’s equity
statement, balance sheet, cash flow statement (simple cash receipts and
disbursements statement)
4.5 Journalizing
and posting adjusting entries
4.6 Journalizing
and posting closing entries
4.7 Preparing
the post-closing trial balance
4.8 Preparing
the reversing entries
|
5 meeting
|
Finals
|
Lecture/
PPT
Presentation
Problem-solving
Board
Exercises
|
Assignments
Seatwork
Quizzes
Recitations
|
|
FINAL
EXAMINATION
|
|||||
No comments:
Post a Comment