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Financial Accounting Syllabus

Required Text Edmonds, T. P., Edmonds, C., McNair,F. M., & Olds, P. R. Fundamental Financial Accounting Concepts (9th edition). New York, NY: McGraw Hill Higher Education. ISBN: 9781308891798

Course Description Students in this course explore basic accounting concepts and procedures and the interpretation of financial statements. The principles of accrual and deferral accounting are presented, including proper use of debits, credits, and fiscal year-end procedures. Students also examine merchandising transactions, inventory costing and valuation, cash management, and accounts receivable. The reporting of long-term assets, liabilities, and bonds are also discussed.

Course Objectives Understand and use the four basic financial statements Define and apply the accounting equation Explain and employ the principles of accrual and deferral accounting Record debits and credits, and close a fiscal year's books Make merchandising entries and handle inventory Practice cash accounting and internal control Account for receivables Understand and handle long-term assets and liabilities

Tentative Schedule

Week

Assignments

Week 1 "The Accounting Equation"

Read Chapter 1 in textbook Review Lecture 1 "The Accounting Equation" Review Video Lecture 2 "Chapter 1" Complete Discussion "Basic Accounting Methods"

Complete Assignment “Week 1 Problem Sets"

Week 2 “The Four Financial Statements”

Read Chapter 2 in textbook Review Lecture 1 "The Four Financial Statements" Review Video Lecture 2 "Chapter 2" Complete Discussion “Grantham Landscaping"

Complete Assignment “Week 2 Problem Sets”

Week 3 "The General Journal and Debits & Credits"

Read Chapter 3 in textbook Read Chapter 4 in textbook Review Lecture 1 “The General Journal and Debits & Credits" Review Video Lecture 2 "Chapter 3" Complete Discussion "Sales Returns and Allowance"

Complete Assignment "Week 3 Problem Sets"

Week 4 "Inventory Accounting"

Read Chapter 5 in textbook Review Lecture 1 "Inventory Accounting" Review Video Lecture 2 "Chapter 5" Complete Discussion “Accounting Inventory Methods” Complete Assignment "Week 4 Problem Sets"

Complete Midterm

Week 5 "Cash Reconciliations"

Read Chapter 6 in textbook Review Lecture 1 "Cash Reconciliations" Review Video Lecture 2 "Chapter 6" Complete Discussion "Accounts Receivables"

Complete Assignment "Week 5 Problem Sets"

Week 6 "Intangible Assets and Depreciation Accounting Methods"

Read Chapters 7 and 8 in textbook Review Lecture 1 "Intangible Assets and Depreciation Accounting Methods" Review Video Lecture 2 "Chapter 7" Review Video Lecture 3 "Chapter 8" Complete Discussion “Role of the Auditor”

Complete Assignment "Week 6 Problem Sets"

Week 7 "Accounting for Payroll and Bonds"

Read Chapters 9 and 10 in textbook Review Lecture 1 "Accounting for Payroll and Bonds" Review Video Lecture 2 "Chapter 9" Review Video Lecture 3 "Chapter 10" Complete Discussion "Liabilities"

Complete Assignment "Week 7 Problem Sets"

Week 8 "The Accounting Cycle"

Review previous reading material, no new reading assignment this week Review Lecture 1 "The Accounting Cycle" Complete Discussion "Review and Reflect"

Complete Final Exam

Work must be submitted by 11:59 p.m. Eastern Time on the date due.

Expected Student Workload The following table outlines the academic effort required to be successful in this course. If you have any questions or concerns, please direct them to your instructor.

 

Estimated Hours

Week

Type of Activity

Activity

Required

 

Readings/Lectures

0.6

Online

Discussions

3.0

Assignments

0.0

1

 

Readings

2.5

Discussions

2.0

Preparation

Assignments

3.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

2

Online

Readings/Lectures

0.5

   

Discussions

3.0

Assignments

0.0

 

Readings

2.8

Discussions

2.0

Preparation

Assignments

3.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

 

Readings/Lectures

0.5

Online

Discussions

3.0

Assignments

0.0

3

 

Readings

2.4

Discussions

2.0

Preparation

Assignments

3.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

 

Readings/Lectures

0.5

Online

Discussions

3.0

Assignments

2.0

4

 

Readings

1.6

Discussions

2.0

Preparation

Assignments

6.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

5

Online

Readings/Lectures

0.5

Discussions

3.0

Assignments

0.0

   

Readings

1.7

Preparation

Discussions

2.0

Assignments

3.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

 

Readings/Lectures

0.6

Online

Discussions

3.0

Assignments

0.0

6

 

Readings

4.3

Discussions

2.0

Preparation

Assignments

3.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

 

Readings/Lectures

0.6

Online

Discussions

3.0

Assignments

0.0

7

 

Readings

4.3

Discussions

2.0

Preparation

Assignments

9.0

Clinical/Lab Hours

0.0

 

Estimated Hours

Week

Type of Activity

Activity

Required

8

 

Readings/Lectures

0.5

Online

Discussions

3.0

Assignments

2.0

Preparation

Readings

0.0

 

Discussions

2.0

   

Assignments

3.0

Clinical/Lab Hours

0.0

** The numbers listed in the chart above are rounded to the nearest whole

Grading Policy

Assignment

Percentage

Discussions

40%

Assignments

40%

Midterm

10%

Final Exam

10%