Financial Accounting

Course description.
The focus is on accounting as an essential element of the decision‐making process, basic standards and principles of accounting, and how accounting information is accumulated and used in decision‐making. Topics covered are processing accounting information, merchandising transactions, inventories, internal control, control of cash, receivables and payables, plant and equipment, payroll accounting theory, and partnerships.

Course Learning Objectives.
At the end of the course, students will be able to:
1. Develop a basic understanding of the language of business – Accounting
2. Gain an understanding of the major financial statements and the relationships that exist among the statements
3. Develop the ability to prepare basic financial statements
4. Develop business analytical skills by solving a variety of accounting problems
5. Develop the ability to read, understand, and analyze corporate annual reports
6. Establish a solid basic accounting knowledge foundation upon which future courses can be built

Course Learning Activities.
 Classes – The classes will be used to introduce, review, and discuss course subject matter. Heavy use of problem material will be used to illustrate the conceptual and procedural aspects of accounting. BRING YOUR TEXTBOOK and HAND‐HELD CALCULATOR TO EACH CLASS. Students should complete all assigned subject readings and problems for a given class session prior to the class. (Objectives 1, 4 & 6)
 Instruction ‐ Methods of instruction will include lectures, classroom discussion, and problem-solving assignments. Microsoft PowerPoint slide shows will be used as teaching materials.  A folder will be created on the server which will include the PowerPoint and Word files used in class. (Objectives 1, 2, 3, 4 & 6)
 Practice Problems and Assigned Homework ‐ The practice problems will be assigned at the end of each chapter.  Students must be able to solve these recommended problems in order to understand the material and do well in the exam.  Students are encouraged to use Excel in doing their homework.  However, solutions to the assigned homework should be printed and done on paper.  Students are expected to
make an oral presentation of their homework.
 Solutions to the practice problems will be posted to the course folder in MyAUR. Problems assigned as homework will be recorded and counted towards the course grade. (Objectives 3, 4 & 5)
 Annual Report Project – The student will be required on an individual basis to conduct research and prepare a written report on the annual financial report of one publicly traded company.  All written work must be typed, double‐spaced, and spell‐checked.  In order for a project to receive a grade of B, work must be thoughtful, well‐organized, thorough, and well‐written.  In order to receive an A, work must be
exceptional and scholarly, demonstrating thorough preparation, time and effort, critical thinking, and analysis. Plan to work ahead of schedule as there will be no extensions, even for emergencies. (Objective 5)

Assessment tools.
Class participation 15%
Exam no. 1 25%  
Exam no. 2 25%
Final exam 25%
Project 10%