Bus 1102 Basic Accounting

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Course Outline

BUS 1102: BASIC ACCOUNTING

Prerequisites:

BUS 1101 Principles of Business Management.

Course Description:

The Basic Accounting course introduces students to financial reporting and financial management concepts and practices. The primary focus of this course is the preparation, use, and analysis of general purpose financial statements in support of the capital market decision-making process. In addition, certain financial accounts concepts related to current assets will be covered.

Required Textbook and Materials: The main required textbooks for this course are listed below and can be readily accessed using the provided links. There may be additional required/recommended readings, supplemental materials, or other resources and websites necessary for lessons; these will be provided for you in the course’s General Information and Forums area, and throughout the term via the weekly course Unit areas and the Learning Guides.

Walther, L. M. (2012). Principles of accounting. Logan, UT: Utah State University. Available at https://www.principlesofaccounting.com/
Software Requirements/Installation: No special requirements.

Learning Objectives and Outcomes:

By the end of this course students will be able to:

  1. Explain how accounting information is used.
  2. Complete journal entries using the accrual basis of accounting.
  3. Explain the steps of the accounting cycle.
  4. Prepare income statements, statements of owner’s equity, and balance sheets using generally accepted accounting principles.
  5. Illustrate accounting for cash, receivables, and inventories and merchandise transactions.

Course Schedule and Topics:

This course will cover the following topics in eight learning sessions, with one Unit per week. The Final Exam will take place during Week/Unit 9 .

Week 1: Unit 1 – Introduction to the Course and Principles of Financial Accounting

Week 2: Unit 2 – The Accounting Cycle: Analyzing and Recording Transactions

Week 3: Unit 3 – The Accounting Cycle: Adjusting Entries and Preparing Financial Statements

Week 4: Unit 4 – Completing the Accounting Cycle: The Closing Process

Week 5: Unit 5 – Accounting for Merchandising Operations

Week 6: Unit 6 – Cash and Internal Controls

Week 7: Unit 7 – Accounting for Receivables

Week 8: Unit 8 – Inventories and Cost of Goods Sold

Week 9: Unit 9 – Course Review and Final Exam