ACN 201 (course outline, Summer 2019 PDF

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INDEPENDENT UNIVERSITY, BANGLADESH School of Business BBA Program Course Outline Semester Summer 2019

Course Code ACN 201

Course Title Principles of Accounting

Section 4

INSTRUCTOR’S DETAILS: Instructor: Md. Safiuddin Office: 2007 Email: [email protected]

Class Time: MW 8.00 AM -9.30 AM Class Room: BC 3009 Office Hours: ST 8.30 am – 9.30 am ST 11.10 am -1.40 pm MW 9.30 am -1.40 pm Thursday: 10.00 am- 1.00 pm My SB Address: http://oldcmos.iub.edu.bd/sb/course/view.php?id=169

COURSE DESCRIPTION: This course addresses accounting concepts and principles applicable to business enterprise. Principle of Accounting is an introductory accounting course which will help to understand basic accounting process. COURSE POLICY: 1. It is the student’s responsibility to gather information about the assignments and covered topics during the lectures missed. Regular class attendance is mandatory. Points will be taken off for missing classes. Without 70% of attendance, sitting for final exam is NOT allowed. According to IUB system students must enter the classroom within the first 20 minutes to get the attendance submitted. 2. The date and syllabus of quiz, midterm and final exam is already given here, however, announcements will be given ahead of time. There is NO provision for make-up quizzes. 3. The reading materials for each class will be given prior to that class so that student may have a cursory look into the materials. 4. Class participation is vital for better understanding of sociological issues. Students are invited to raise questions. 5. Students should take tutorials with the instructor during the office hours. Prior appointment is required. 6. Students must maintain the IUB code of conduct and ethical guidelines offered by the School of Business. 7. Students must refrain from any type of cheating and/or plagiarism in a course. Any student acting otherwise will receive an “F” grade in the course. School of Business, IUB, maintains a zero tolerance policy regarding violation of academic integrity.

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8. Students are not allowed to keep bags, handouts, books, mobile phones, smart watches or any other smart electronic devices with them during any exam. Students are advised to keep everything in the front of the class room before the exam starts. Please note that, just carrying any smart electronic devises (even if the devise is turned off or put it in silent mode) during the exam will be considered as “cheating”. Moreover, during the exam, anything written on hand palms (or anywhere else) and carrying paper materials (whatever is written) will be considered as “cheating”. Any sorts of “cheating” will result in an “F” grade with no exception. During the exam, students are only allowed to carry pen,pencil, eraser, sharpener, ruler, highlighter and calculator in a clear plastic bag. ASSESSMENT AND MARKS DISTRIBUTION: Type of Evaluation

Nos.

Class Attendance and Participation Quiz (Best two will be counted) Assignment Midterm Exam Final Exam Total

Weight

100% 4 02 01 01

5 15 10 30 40 100%

[Class attendance is mandatory; failure to do so may deduct the final marks] GRADE CONVERSION SCHEME: The following chart will be followed for grading. This has customized form the guideline provided by the school of Business. A 90-100

A85-89

B+ 80-84

B 75-79

B70-74

C+ 65-69

C 60-64

C55-59

D+ 50-54

D 45-49

F 0-44

* Numbers are inclusive

REQUIRED TEXT:

The course will be based mostly on the following books [some other books and journals may be referred time to time]: 1. Weygandt, Kieso& Kimmel. 1999. Accounting Principles, 12th Edition. New York: Prentice – Hall, Inc. CLASS AND EXAM SCHEDULE, TOPIC AND READINGS:

Sessions

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Date

Topic

Learning Outcomes

Readings

Session -1

06/05/2019 Monday

Session -2

08/05/2019 Wednesday

Session -3

Session -4

13/05/2019 Monday

15/05/2019 Wednesday

Introduction

Introduction to Principles of Accounting Explanation of Course Outline Accounting in Definition “Accounting.” Action Three Basic Activities for Accounting Types of Users Accounting in Action

Accounting in Action

Discussion about Accounting Standards Basic Accounting Equation Using the Accounting Equation for solving relevant exercises and problems [ Page 15-19] Understand the four Financial Statements and how they are prepared

Course Outline

Weygandt, Kieso Chapter1 Pages 1-35

Weygandt, Kieso Chapter 1 Pages 1-35

Weygandt, KiesoChapter 1 Pages 1-35

Relevant Problem Solving from Text Session -5

20/05/2019 Monday

The Recording Explain Recording Process Process Relevant Problem Solving from Text

Session -6

22/05/2019 Wednesday

The Recording Ledger Process Posting Trial Balance

Weygandt, KiesoChapter 2 Pages 36-70

Weygandt, KiesoChapter 2 Pages 36-70

Relevant Problem Solving from Text Session-7

27/05/2019 Monday

Adjusting the Accounts

Quiz 1 on chapter 1,2

Different types of Adjusting the Weygandt, Accounts KiesoChapter 3 Pages 71-115 Summary of Journalizing and posting Preparing the Adjusted Trial Balance Relevant Problem Solving from Text Chapter : 1 &2

Session-8

Page 3 of 6

29/05/2019 Wednesday

Adjusting the Accounts

Weygandt, Different types of Adjusting the Accounts KiesoChapter 3 Pages 71-115 Summary of Journalizing and posting Preparing the Adjusted Trial Balance

Relevant Problem Solving from Text

Session -9

Session 10

10/06/2019 Monday

12/06/2019 Wednesday

Completing the Accounting Cycle

Preparing the Financial Statement from work-sheet Illustration 4-3A [ Page 148 ]

Weygandt, KiesoChapter 4

Relevant Problem Solving from Text

Pages 116-164

Completing the Accounting Cycle

Preparing Closing Entries Posting Closing Entries Illustration 4-6 [ Page 154]

Weygandt, KiesoChapter 4

Relevant Problem Solving from Text

Pages 116-164

Quiz 2 on chapter 3,4

Preparing a Post Closing Trial Balance The Classified Balance Sheet Relevant Problem Solving from Text (Continue)

Chapter : 3&4 Session -11

Date

Midterm Exam

Chapters 1,2,3,4

Weygandt, Kieso Chapter 1,2,3,4

Session -12

Session -13

17/06/2019 Monday

19/06/2019 Wednesday

Accounting For Merchandising Operations

Difference between Service and Merchandising Companies Recording Purchase of Merchandise :  Freight Costs  Purchase Returns and Allowances  Purchase Discounts  Summary of Purchasing Transactions

Recording Sales of Merchandise Accounting Forms of Financial Statements For Merchandising Relevant Problem Solving from Text Operations

Weygandt, Kieso Chapter 5

Pages 165-209

Weygandt, Kieso Chapter 5 Pages 165-209

(Continue) Session -14

Page 4 of 6

24/06/2019 Monday

Classified Balance Sheet Accounting Relevant Problem Solving from Text For Merchandising (Continue)

Weygandt, KiesoChapter 5 Pages 165-209

Operations Session -15

26/06/2019 Wednesday

Inventory Valuation

Inventory Costing under FIFO, Weygandt, LIFO and weighted average method: KiesoChapter 06  Periodic System Pages 210-248 Cost Flow Assumptions Relevant Problem Solving from Text

Session -16

01/07/2019 Monday

Inventory Valuation

Inventory Costing under FIFO, LIFO and weighted average method: Weygandt,  Perpetual System Kieso Cost Flow Assumptions Relevant Problem Solving from Text

Chapter 06

Chapter : 5,6 Pages 210-248 Session -17

Session -18

03/07/2019 Wednesday

08/07/2019 Monday

Cash and Bank Reconciliation Quiz 3 on chapter 5,6 Cash and Bank Reconciliation

Reconciliation Procedure Bank Reconciliation Statement

Weygandt, KiesoChapter 08

Relevant Problem Solving from Text Pages 286-325

Bank Reconciliation Statement Adjusting entries Relevant Problem Solving from Text

Weygandt, KiesoChapter 08 Pages 286-325

Session -19

Session -20

Session -21

10/07/2019 Wednesday

15/07/2019 Monday

17/07/2019 Wednesday

Accounting for Types of Receivables Receivables Recognizing Account Receivables Valuing Account Receivable Relevant Problem Solving from Text (Continue) Accounting for Bad debt recording under direct write off method and allowance method Receivables Relevant Problem Solving from Text (Continue) Quiz 4 on chapter 8,9

Weygandt, KiesoChapter 09 Pages326-355

Weygandt, KiesoChapter 09 Pages326-355

Property, Plant Determining the Cost of Plant Assets Weygandt, Concept of Depreciation KiesoChapter 10 and Factors in Computing Depreciation Equipment Pages 356-392

Session -22

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22/07/2019

Property, Plant Depreciations Methods :

Weygandt,

Monday

and Equipment

  

Straight Line Units of Activity Declining Balance

KiesoChapter 10 Pages 356-392

Relevant Problem Solving from Text

Session -23

24/07/2019 Wednesday

Property, Plant Sale of Assets :  Gain On Disposal and  Loss On Disposal Equipment Relevant Problem Solving from Text Chapter :9 & 10

Session -24

29/07/2019 Monday

Property, Plant Relevant Problem Solving from Text and Equipment

Weygandt, KiesoChapter 10 Pages 356-392

Weygandt, KiesoChapter 10 Pages 356-392

Session -25

31/07/2019 Wednesday

Review and solved class

Relevant Problem Solving from Text

Weygandt, KiesoChapter 5.6,8,9,10

Session-26

Date

Final Exam

Chapter 5,6,8,9 and 10

Weygandt, Kieso Chapter 5,6,8,9 and 10

AUDIT: Students who are willing to audit the course are welcome during the first two classes and are advised to contact the instructor after that. NOTE: Plagiarism- that is the presentation of another person’s thoughts or words as though they were the students’ own – must be strictly avoided. Cheating and plagiarism on exam and assignment are unacceptable. UNIVERSITY REGULATION AND CODE OF CONDUCT: Please see the green book for further information about academic regulation and policies, including withdrawal and grading, apples and penalties for pilgrims and academic misconduct. STUDENTS WITH DISABILITIES: Students with disabilities are required to inform the School of Business/ Department of Economics of any specific requirement for classes or examination as soon as possible.

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