COURSE SYLLABUS

COURSE TITLE: Principles of Accounting COURSE ACCT111

CODE:

PREREQUISITES: None SEMESTER: SPRING 2021

INSTRUCTOR: Prof. Emily Song CREDITS: 3

Wednesday
EMAIL: [email protected] SCHEDULE: 12h30-15h30

COURSE DESCRIPTION:
This course is designed uses a business context – a startup company called Global Grocer to help you
learn the fundamentals of accounting.

We will begin with an introduction of key accounting terms and five fundamental accounting concept
which provides us a brief overview of the three most important financial statements.

The chapters labelled “The Balance sheet”, “The Income Statement," and "The Statement of Cash
Flows" explain relevant new financial accounting concepts and we will use these concepts to construct
a financial statement. You will see how Global Grocer's financial statements are affected by its business
transactions during the first month of operations.

In the "Accounting Records" chapter you will learn how to formally record Global Grocer's business
transactions into its journal and ledger and how to apply these steps to Global Grocer’s August and
September business transactions, and, by following the process, use these records to prepare its
balance sheet and income statement for two accounting periods.

You will also be given in class exercises to practice and test what you have learned throughout the
course.

The course will conclude with group discussion of accounting ethics issues and a look back at who,
what, when, and how of some of the worst corporate accounting scandals of all time.

COURSE OBJECTIVES:
This course is aimed primarily at students who are not majoring in accounting but who are,
nevertheless, studying accounting as part of their course in business. The lecture focuses on examining
the basic principles and underlying concepts and the ways in which accounting statements and financial
information can be used to improve managerial decision-making.

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The course will be delivered in a “learning through doing” style. This means that there are numerous
integrated activities, examples, questions and in-class exercises to help the students to acquire
accounting knowledge from full involvement in the learning process and to “learn through reflection of
doing”. During the course we will spend a substantial amount of time applying accounting concepts to
solve simulated and real-business accounting problems. As such, it enhanced your intrinsic learning
satisfaction, increases your understanding and retention of course material and improve your problem
solving, analytical thinking and critical thinking skills.

EXPECTED LEARNING OUTCOMES:

Upon completion of this course students should be able to:
• describe the main elements of financial accounting information – assets, liabilities, revenue and
expenses
• identify the main financial statements and their purposes.
• Demonstrate knowledge of preparation of financial statements in accordance with generally
accepted accounting principles through analysis and recordings of business transactions.

RED TEAM / BLUE TEAM:

In order to respect social distancing rules for the Spring 2021 semester, ABS is implementing a rotation
schedule for students to attend classes on campus. Each student has been designated as a member of
the Red Team or the Blue Team (if you do not know your designation, contact your Academic
Assistant). Your access to campus will be allowed according to the dates below. If it is not your day to
be on campus, you will join the class remotely through a live stream link. Your attendance will be
counted.

TEXTBOOK:
Financial Accounting 7th edition, Kieso, Weygandt: Wiley & Sons
ISBN-13: 978-8126551262

EVALUATIONS:
The final grade will be determined as follows:
Pre-course assignment: 10%
Class participation: 20%
Mid-term: 20%
Final Exam: 50%

Please note that the passing grade for courses is 73%. Active participation in class exercises is
particularly important due to evidence of the importance of the group dynamic to the learning

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process.
The various criteria used in evaluation of learning are referred to in The American Business
School’s “Grading Rubrics” document dated 6 September 2017.
Non programmable calculators without graphic display must be provided by and brought to
class by students. Mobile phones must not be brought to class or examinations and will be
subject to confiscation if used.

GRADING CRITERIA:
Class participation is graded according to the following scale:
1 intelligent comment or question that contributes to the conversation = 50%
2 intelligent comments or questions that contribute to the conversation = 75%
3+ intelligent comments or questions that contribute to the conversation = 100%

Homework is graded according to the following scale:

70% = submitted, but not correct or complete
80% = submitted, meets basic requirements
90% = submitted, meets all requirements
100% = submitted, shows insight, analysis, and creativity

All other assignments and evaluations are graded according to the Standard ABS Paris Grading
Rubrics available on beecome.

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COURSE SCHEDULE:
Reading Session Content
Dates
Homework
Balance Sheet
• How balance sheet is organized?
Session 1
Practice • The basic accounting equation: Assets = Liabilities +
RED TEAM
exercises Equity
3 Feb
• The expanded accounting equation
Balance Sheet

Session 2 Practice • The two important concepts: dual aspect and historical
BLUE TEAM exercises cost
10 Feb • Record business transactions for a start up

Income Statement

Session 3 • How the income statement is organized?

Practice
RED TEAM • The link to Balance Sheet
exercises
17 Feb • 3 new accounting concepts – the realization, matching
and conservatism concepts

Income Statement

• How to apply them to record the results of Global Grocer’s

Session 4 business operations
Practice
BLUE TEAM • How to record cash sale?
exercises
24 Feb • How to record credit sale?
• How to record cash/credit sales?
• How to record all the other operating expenses?

Account Records I: The steps formally track and record financial

accounting transactions during an accounting period.

Session 5 Reading: Chapter 2- The recording process

Practice
RED TEAM • Understand the economic and accounting impact of
exercises
3 Mar Global Grocer’s August and September 2014’s business
transaction

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 Session 6
Practice
BLUE TEAM Midterm Mockup Exam
exercises
10 Mar
Session 7
RED TEAM Mid-Term Exam
17 Mar
Account Records II: The steps formally track and record
Session 8 financial accounting transactions during an accounting period.
Practice
BLUE TEAM • To record the business transactions in the journal and
exercises
31 Mar ledger
Account Records III
Reading: Chapter 3 - Adjusting the accounts
Session 9 Practice
RED TEAM exercises • Adjusting the accounts
7 Apr
• Accruals and deferrals
Account Records IV
Reading: Chapter 4 - Completing the accounting cycle

Session 10 • Completing the accounting cycle

Practice • Closing entries
BLUE TEAM
exercises
14 Apr • Temporary and permanent T accounts
• Preparation of income statement, classified balance
sheet and statement of retained earnings.

Group Work (20% of your final grade)

Case: Breath Screen

Case work on the Breath Screen case in groups and perform the
Session 11 following tasks:
Practice
RED TEAM • Record the business transactions in the journal and
exercises
21 Apr ledger;

• Prepare Balance Sheet, Incomes statement for Breath

Screen Inc.

Session 12
ONLINE - ALL FINAL EXAM
28 Apr

The schedule of Final Exams will be confirmed and published by 31 March 2021. The last day of the
semester is 21 May 2021. DO NOT PLAN ANY TRAVEL BEFORE THIS DATE AS THERE ARE NO MAKE-UP
EXAMS.

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