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ACCT 122 - Fundamentals of Accounting 2 Page 1 of 8

School of Business
Department of Accounting, Finance and Economics
P.O. Box 175, Port of Spain,
Trinidad, W.I.
Outline
COURSE DESCRIPTION
- Acct 122 ! Fundamentals of Accounting ""
- Second Semester 2#1$%2#1&, $ credits, T%', ((( ! )1#pm , BB2$
- This course co*ers +asic managerial and financial aspects of accounting
- Pre-re,uisites ! Fundamentals of Accounting 1.
- Face to Face "nstruction
INSTRUCTOR INFORMATION
- Esther Cedeno, -BA
- Assistant Professor
- School of Business, $.&-$&)& /c0
- cedeno1usc2edu2tt
- -%3 .2#am ! 1#(#am 4 1$#-2$#pm, T%' &##pm-(((pm
- Students are free to contact me through emails and depending on the urgenc5 of the
matter, m5 cell phone num+er is there for 5ou to contact me2
PURPOSE OF THE COURSE/COURSE RATIONALE
As potential managers%entrepreneurs, e*er5 indi*idual needs to understand that mone5 ma6es
mone52 7nderstanding ho8 it is spent, made and in*ested, guides managers%entrepreneurs to
ma6e logical and insightful decisions on ho8 to operate the +usiness on a dail5 +asis and
ultimatel5 guide the +usiness to8ards achie*ing its o*erall strategic o+9ecti*es2 "n other 8ords,
accounting helps to coordinate the *arious departments in a +usiness as the5 ultimatel5 stri*e to
achie*e the same goal2 E*en if 5our strength is not in accounting, the +asic understanding of
the financial statements can protect a +usiness from fraud, misuse of resources and loss of
control2 Therefore, this course see6s to present fundamental concepts of financial and
managerial accounting c5cle, the content and preparation of financial statements2 Cost concepts
8ould also +e e:amined2
This course can also help indi*iduals ha*e a +etter handle on their personal finances2
7nderstanding the flo8 of mone5 /8here it comes from and 8here it goes to0, helps to gi*e
indi*iduals an opportunit5 to +etter na*igate the flo8 to their +enefit2
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 2 of 8
LETTER TO THE STUDENT
Dear Students,
" personall5 8ant to 8elcome 5ou to Fundamentals of Accounting 22 " am here for an5one 8ho
8ants additional help to sta5 on top of this course2 As stated a+o*e, 5ou are free to contact me
through the *arious mediums mentioned a+o*e2
"n addition, " 8ould li6e 5ou to 6no8 that this course re,uires 5ou to practice if 5ou 8ant to full5
understand the concepts and la5outs2
;et rid of all the negati*e ideas 5ou ma5 ha*e a+out accounting and let<s ta6e a positi*e step in
the right direction to8ards success2
From -s2 Cedeno
GOALS/AIMS
To gi*e students a firm grasp of the essential +usiness and accounting terminolog5 and
techni,ues that is needed to succeed in a +usiness en*ironment2
To help students de*elop anal5tical s6ills that 8ill allo8 them to e*aluate data2
To teach students the concepts of accounting and the preparation and interpretation of
financial statements2
To help students understand ho8 accounting information can aid the managerial and
strategic decision ma6ing process in a compan52
LEARNING OUTCOMES (Modules/Unit Learnin Out!o"es#
12 Student should 6no8 each component of all the financial statements
22 Students should +e a+le to identif5 and 6no8 8hich accounts affect 8hich statement
$2 Students should +e a+le to anal5se the financial statements of a +usiness and state ho8
the5 are performing2 The5 should +e a+le to identif5 red flags and ma6e
recommendations2
&2 Students should 6no8 the difference +et8een managerial and financial accounting
(2 Students should +e familiar 8ith the accounting for -anufacturing +usinesses and their
related statements2
=2 Students should +e familiar 8ith accounting 9argon2
)2 Students should +e a+le to do +rea6-e*en anal5sis and identif5 ho8 different costs m5
affect the +usiness profit2
>2 Student should +e a+le to identif5 rele*ant costs and their effect on decision ma6ing2
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 3 of 8
.2 Students should +e a+le to criticall5 anal5se a situation and come up 8ith a reasona+le
solution2
1#2 Students should understand the importance of +udgeting at *arious le*els2
112 Students should +e a+le to e*aluate the performance of a +usiness /not limited to
financial criteria0
122 Students should 6no8 the *arious t5pes of partnerships and the +asic accounting
procedures 8hen partners are admitted, 8ithdra8, sharing profits and losses and finall5
the li,uidation of a partnership2
COURSE CONTENT
12 The Statement of Cash Flo8s
?perating, "n*esting and Financing Acti*ities
Direct and "ndirect -ethod of Preparing the Statement of Cash Flo8
22 Financial Statement Anal5sis
@oriAontal Anal5sis
Bertical Anal5sis
7sing 'atios to -a6e Decisions
'ed Flags in Financial Statement Anal5sis
$2 "ntroduction to -anagement Accounting
-anagement Accounta+ilit5
Toda5<s Business En*ironment
Ser*ice *s2 -erchandising *s2 -anufacturing Companies
Statement of Cost of ;oods -anufactured
Ethical Standards
&2 Co+ Costing 4 Process Costing
@o8 Co+ Costs flo8 through Accounts An ?*er*ie8
Allocating -anufacturing ?*erheads
Accounting for Completion, Sale and Ad9usting -anufacturing ?*erhead
Co+ ?rder Costing in Ser*ice Compan5
Process Costing !3eighted A*erage -ethod
(2 Acti*it5-Based Costing
Traditional *s2 Acti*it5-Based Costing S5stems
Acti*it5-Based -anagement
=2 Cost-Bolume-Profit Anal5sis
Cost Beha*iour
Basic CBP Anal5sis
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 4 of 8
7sing CBP to Plan Profits
7sing CBP for Sensiti*it5 Anal5sis
Effect of Sales -i: on CBP Anal5sis
)2 Short-Term Business Decisions
'ele*ant *s2 "rrele*ant Costs
Special Sales ?rder and 'egular Pricing
Product -i: Decisions
3hen to Drop Products, Departments or Territories
?utsourcing
Sell as is or Process Further
>2 The -aster Budget 4 'esponsi+ilit5 Accounting
3h5 -anagers 7se Budgets
Preparing the ?perating Budget
Preparing the Financial Budget
Cash Budget
Proforma Balance Sheet
Proforma Statement of Cash Flo8
.2 Performance E*aluation and the Balanced Scorecard
DecentraliAed ?perations
Performance -anagement
The Balanced Scorecard
1#2 Partnerships
Characteristics and T5pes of Partnerships
The Start-7p of a Partnership
Sharing Profits, Dosses and Partner Dra8ings
Admission and 3ithdra8al of a Partner
Di,uidation of a Partner
TEACHING STRATEGIES
At the +eginning of each ne8 chapter, " 8ould teach 5ou the fundamentals concepts of
the chapter2 Participation is greatl5 encouraged2
Su+se,uentl5, the class 8ould participate in pro+lem sol*ing e:ercises to reinforce the
concepts taught2 Peer teaching is 8elcome at this stage so that students can learn from
one another2
Finall5, multiple choice ,uestions 8ould +e gi*en to the students at the end of each
chapter for them to go home and practice2 "n the follo8ing class session, an5 ,ueries on
the multiple choice ,uestions 8ould +e entertained2
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 5 of 8
RESOURCES
Accounting, .
th
ed2, +5 @orngren, @arrison 4 ?li*er
Each student 8ould need to ha*e a calculator
ASSIGNMENTS
Assignments 8ould +e gi*en to 5ou at the end of each chapter2
Assignments that ha*e +een started in class, 8ould +e due in a su+se,uent class
period2 @o8e*er, if the assignment 8as gi*en for 5ou to do on 5our o8n outside of class,
it 8ould +e due in the second class session from 8hen it 8as gi*en2 "n other 8ords, "f
the assignment 8as gi*en on Tuesda5, it 8ould +e due ne:t 8ee6 Tuesda52 This 8a5,
the student has time to see6 help from the lecturer if the5 encounter difficulties2
COURSE ASSESSMENT
All students 8ould +e assessed as the course progresses to see if the5 are grasping the
concepts taught2 The assessments 8ould +e in the form of assignments, participation
and e:ams2 Participation 8ould sho8 the student<s interest in this course2 The e:ams
8ould +e in the form of $ sectionals2 The first t8o sectionals 8ould co*er $ chapters
each and the final e:am 8ould co*er the last & chapters2 Eou 8ould +e 6ept informed of
5our o*erall grade at the end of each sectional e:amination2 The first t8o sectionals
8ould +e done during the entire class period, 8hile the final e:amination 8ould +e done
during Final E:amination and 8ould last for t8o hours2 Belo8 is the assessment
schedule
Final E:amination $#F
-id-Term E:amination $#F
Assignments $#F
GuiAAes 1#F
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 6 of 8
COURSE CALENDAR
Undergraduate Course Outline:Revised April 2012
ACCT 122 - Fundamentals of Accounting 2 Page 7 of 8
Undergraduate Course Outline:Revised April 2012
Da5 and
Date
Chapte
r
Topic Dearning
?utcome
'eference
Assignment%Acti*it5 Due Date
3EEH I1
T 4 '
1& 4
1=%Can2%1&
1& The Statement of
Cash Flo8
1,2,= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
2$%Can2%1&
3EEH I2
T 4 '
21 4
2$%Can2%1&
1( Financial
Statement Anal5sis
1,2,$,= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
$#%Can2%1&
3EEH I$
T 4 '
2> 4
$#%Can2%1&
1= "ntroduction to
-anagement
Accounting
&,= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
=%Fe+2%1&
3EEH I&
T 4 '
& 4 =%Fe+2%1&
1) Co+ Costing (,= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
1$%Fe+2%1&
3EEH I(
T 4 '
11 4
1$%Fe+2%1&
1) Process Costing (,= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
2#%Fe+2%1&
3EEH I=
T 4 '
1> 4
2#%Fe+2%1&
1> Acti*it5 Based
Costing
= 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
2)%Fe+2%1&
W! "7
T
25#$e%.#14
&'ISIO(
&
27#$e%.#14
)I*+T&) ,-)
3EEH I>
T 4 '
& 4 =%-ar2%1&
-"D-SE-ESTE'
B'EAH
3EEH I.
T 4 '
11 4
1$%-arch%1&
1. Cost-Bolume-Profit
Anal5sis
=,) 'ead the Chapter
on the topic gi*en
and assignment
8ould +e gi*en
during class2
2#%-arch%1
&
ACCT 122 - Fundamentals of Accounting 2 Page 8 of 8
ADDITIONAL INFORMATION (Standard#
7ni*ersit5 Policies
Academic dishonest5 8ould not +e tolerated during e:aminations and ,uiAAes,
resulting in an automatic Aero2
Pla.iari/01 Plagiarism is the passing of someone else<s 8or6 or ideas as 5our o8n2
Academic dishonest5 also includes a failure on 5our part to 6eep 5our current and
past assignments out of the hands of other students 8ho ma5 misrepresent their
origins2 "t is also suggested and recommended that 5ou 6eep a record and%or rough
drafts of 8ritten or other 8or6 until 5ou ha*e recei*ed 5our final grade2 Eou are
responsi+le to ma6e 5ourself familiar 8ith Pages &2 4 &$ of the Cari++ean 7nion
College Bulletin 2##$-2##=2
2lass attendance is critical to 5our success in this class2 According to the school
rules, an5 student missing up to 2#F of this class is entitled to an automatic F2
Date assigns are not encouraged and mar6s 8ould +e deducted for e*er5 da5 late2
GRADING S$STEM (Standard#
A .# - 1## B )( - ). C =# ! =&
A- >( ! >. B- )# ! )& C- (( ! (.
BJ ># ! >& CJ =( ! =. D (# ! (&
F # - &.
HO% TO SUCCEED IN THIS COURSE
SEEH ;?D F?' 3"SD?-
D? ADBAKCE 'EAD"K;
P'ACT"CE
P'ACT"CE
P'ACT"CE
Undergraduate Course Outline:Revised April 2012