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Instructor Contact Information |
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Acct116a Financial
Accounting Roger A. Gee, CPA |
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Textbook and Course Material Requirements |
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Course Material Purchase Options 1.
Williams, Financial Accounting, 13th edition,
McGraw-Hill, 2008, packaged with a Homework Manager access code for
$127 (available at the a. Go to www.sdmesa.edu b.
Click on c. Scroll down and click on OK d.
Select e. Select Acct – Accounting, 116a, and your CRN f. Scroll down and complete the purchasing process 2. McGraw-Hill’s Homework ManagerTM PLUS or ONEpass for Financial Accounting for $65.00. You have an online version of the Williams, Financial Accounting, 13th edition, textbook and the Homework Manager access code. To order the online textbook, do the following: a. Go to www.mhhe.com/williamsfinancial13e b. Click on Register or Purchase Access c. Click on I do not have a registration code Click on Continue and complete the purchasing process |
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Hardware and Software Requirements |
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Hardware and Software: Internet Browser: |
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Course Description This introductory course shows students what financial accounting is, why it is important, and how it is used by investors and creditors to make decisions. It covers the accounting information system, the recording and reporting of business transactions with a focus on the accounting cycle, the applications of generally accepted accounting principles, the classified financial statements, and statement analysis. This course also includes issues relating to asset, liability, and equity valuation; revenue and expense recognition; cash flows; internal controls; and ethics. This course is required for an associate degree and for a four-year degree. Learning Outcomes Upon successful completion of the course the student will be able to: 1. Explain the nature and purpose of generally accepted accounting principles (GAAP). 2. Explain and apply the components of the conceptual framework for financial accounting and reporting including the qualitative characteristics of accounting information, the assumptions underlying accounting, the basic principles of financial accounting, and the constraints and limitations on accounting information. 3. Define and use accounting and business terminology. 4. Explain what a system is and how accounting systems, including journals and ledgers, are designed to satisfy the needs of specific businesses. 5. Apply transaction analysis, input transactions into the accounting system, process transaction data, and prepare and interpret four basic financial statements. 6. Use the revenue recognition and matching principles to distinguish between cash basis and accrual basis accounting and their impact on financial statements. 7. Identify and illustrate how the principles of internal control are used to manage and control a firm’s resources and minimize risk. 8. Explain the content, form, and purposes of the basic financial statements, footnotes and annual reports, and how they satisfy the information needs of investors, creditors, and other users. 9. Explain the nature of current asset issues including measuring and reporting receivables and bad debts, and inventory and cost of goods sold. 10. Identify and illustrate issues that are related to long-term asset acquisition, use, depreciation, and disposal. 11. Distinguish between capital and revenue expenditures. 12. Explain the valuation and reporting of current liabilities, estimated liabilities, and contingencies. 13. Identify and illustrate issues that are related to long-term liabilities including valuation, issuance, and retirement of debt. 14. Explain the time value of money and calculate present and future values. 15. Identify and illustrate issues relating to stockholders’ equity including the issuance and repurchase of capital stock, and the distributions to stockholders (dividends). 16. Explain the importance of operating, investing, and financing activities reported in the statement of cash flows. 17. Evaluate solvency and liquidity, and profitability and return on equity through the selection and application of appropriate analysis tools. 18. Identify the ethical implications inherent in financial reporting and discuss strategies for addressing them. Course content Outline of topics to be addressed in the course: 1. Introduction to financial accounting. a. Generally accepted accounting principles. b. Components of the conceptual framework. c. Accounting and business terminology. 2. Accounting systems a. Journals and ledgers. b. What a system is. c. System design. 3. Accounting Cycle a. Analyzing transactions. b. Inputting transactions. c. Processing transaction data. d. Preparing and interpreting financial statements. 4. Cash basis and accrual basis accounting. a. Revenue recognition principle. b. Matching principle. 5. Internal controls. a. Managing and controlling resources b. Minimizing risk 6. Financial statements, footnotes, and annual reports a. Reporting rules and disclosures b. Content, form, and purpose c. Information needs of investors and creditors 7. Assets a. Current assets b. Long-term assets c. Capital and revenue expenditures 8. Liabilities a. Time value of money b. Current liabilities c. Long-term liabilities 9. Stockholders’ Equity a. Issuance and repurchase of capital stock b. Distributions to stockholders 10. Measuring cash flows a. Operating activities b. Investing activities c. Financing activities 11. Financial statement analysis a. Solvency and liquidity b. Profitability and return on equity 12. Ethical issues |
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Application and Registration Information |
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6. After completion of
registration on Reg-e, and several days prior to the start of the semester, you will
receive an email with course login instructions. If you don't receive an
email please go to http://www.sdccdonline.net and login on the first day of
class as follows:
You will not be able
to login to your online course until the first day of the semester!!! |
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