Course Design Guide

ACC/225 Version 7
1
Syllabus
Axia College/School of Business
ACC/225 Version 7
Financial Accouning
Co!yrigh " 2##$% 2##& by 'ni(ersiy of )hoenix* All righs reser(ed*
Course Description
Financial accouning co++unicaes econo+ic infor+aion and ser(es as a ool for business decision +a,ing*
-hrough financial accouning% accounans rac, ho. +oney circulaes in an organi/aion* -his course !ro(ides
an undersanding of he funda+enal !rinci!les of double enry accouning as a!!lied o !racical business
siuaions* 0+!hasis is gi(en o he follo.ing1 debi and credi rules of accouning% -2accouns% 3ournali/ing
ransacions% ad3using enries for re(enue and ex!ense ie+s% in(enories% inernal conrol .ih e+!hasis on
cash% and accouning infor+aion syse+s* Sudens .ill be able o !re!are and use an inco+e sae+en%
balance shee% and sae+en of cash flo.s*
Policies
Faculy and sudens/learners .ill be held res!onsible for undersanding and adhering o all !olicies conained
.ihin he follo.ing .o docu+ens1
'ni(ersiy !olicies1 4ou +us be logged ino he suden .ebsie o (ie. his docu+en*
5nsrucor !olicies1 -his docu+en is !osed in he Course Materials foru+*
'ni(ersiy !olicies are sub3ec o change* Be sure o read he !olicies a he beginning of each class* )olicies
+ay be slighly differen de!ending on he +odaliy in .hich you aend class* 5f you ha(e recenly changed
+odaliies% read he !olicies go(erning your curren class +odaliy*
Course Materials
6arson% 7* D*% 8ild% 9* 9*% : Chia!!ea% B* ;2##5<* Fundamental accounting principles ;17h ed*<* Boson% =A1
=cGra.2>ill 5r.in*
All elecronic +aerials are a(ailable on he suden .ebsie*
Course Design Guide
ACC/225 Version 7
2
Week One: Accounting Information and Financial Systems
Details Due Points
Objectives 1.1 ?ecogni/e he role accouning !lays in business*
1.2 Define differen y!es of business organi/aions*
1.3 Discuss he four basic financial sae+ens*
Course
Preparation
Read he course descri!ion and ob3eci(es*
Read he insrucor@s biogra!hy and !os your o.n*
Readins Read Ch* 1 : 2 of Fundamental Accounting Principles*
Read A!!endix A regarding he final !ro3ec reAuire+ens*
Participation Participate in class discussion* ?eAuire+en B a leas 2
subsani(e !oss on four differen days ;he ans.ers o your DC@s
DD0S coun o.ards !arici!aion B so you .ill ha(e o !os a leas
& res!onses in addiion o he DC ans.ers for a oal of a leas E
!oss<*
2#
!iscussion
"uestions
Respond o .ee,ly discussion Auesions*
1* Describe one of he four basic financial sae+ens and
ans.er he follo.ing Auesions*
o For .ha is i y!ically usedF
o 8ha infor+aion is he +os (aluableF
o >o. does i co+!le+en or connec o anoher
financial sae+enF
?es!ond o a class+ae .ho seleced a differen financial
sae+en fro+ yours* >o. do he financial sae+ens ie
ino one anoherF
2* -he Accouning 0Auaion saes1 Asses G 6iabiliies H
D.ner@s 0Auiy* Choose one of hese hree accoun
classificaions define i% sae is nor+al balance ;Dr* or Cr*<
and lis so+e exa+!les*
-uesday
;11/&<
-hursday
;11/E<
1#
1#
C#ec$Point
Financial
Sae+ens
Consider ha you ha(e been as,ed o ex!lain financial sae+ens
o so+eone .ho ,no.s nohing abou accouning*
Revie% he infor+aion on financial sae+ens in Ch* 1 of
Fundamental Accounting Principles.
!iscuss% in 2## o I## .ords% each of he four financial sae+ens*
0x!lain he differen co+!onens of he sae+ens as .ell as .ha
he sae+ens ell abou a business*
Sunday
;11/11<
12*5
&'ercise
Acc* and Business
Drgani/aions
Resource( Fundamental Accounting Principles% !* I#
Post your ans.ers o 0xercises 121 and 12J*
Sunday
;11/11<
12*5
Course Design Guide
ACC/225 Version 7
I
Week To: !usiness Transactions
Details Due Points
Objectives 2.1 0xa+ine he use of debis and credis*
2.2 5llusrae ransacions using -2accouns and 3ournal enries*
2.3 )os ransacions fro+ he general 3ournal o he ledger*
C#ec$Point
Debis and Credis
Resource( Fundamental Accounting Principles% !* 7J and 75
Post your ans.ers o Cuic, Sudy Auesions 22J% 22& and 22E*
-hursday
;11/15<
25
)ndividual
)re!aring 9ournal
0nries and -rial
Balances
Resources( Fundamental Accounting Principles% !!* 75 and E#
Co*plete 0xercises 221 on !* 75 and )roble+ 221A on !* E#*
Post your ans.ers as an aach+en*
Sunday
;11/1E<
1##
Course Design Guide
ACC/225 Version 7
J
Week T"ree: Preparing Financial Statements
Details Due Points
Objectives 3.1 Differeniae be.een accrual basis and cash basis accouning*
3.2 5denify accouning ad3us+ens*
3.3 A!!ly he conce!s of ad3using enries o !rinci!al accouning
siuaions*
Readins Read Ch* I : J of Fundamental Accounting Principles* Afer reading
he se!s ex!laining ho. o use a .or, shee on !* 1I7% clic, his
lin, o see an ineraci(e re!resenaion of 0xhibi J*1
h!1//cor!rain*!hoenix*edu/axia/acc225/acc225K++1*h+l* -hen%
coninue reading he re+ainder of he cha!er*
Participation Participate in class discussion* ?eAuire+en B a leas 2 subsani(e !oss
on four differen days ;he ans.ers o your DC@s DD0S coun o.ards
!arici!aion B so you .ill ha(e o !os a leas & res!onses in addiion o he
DC ans.ers for a oal of a leas E !oss<*
2#
!iscussion
"uestions
+otice t#e c#ane
in due dates ,or
t#ese !"-s due to
t#e .#an$sivin
/olida0. !" 1 %ill
be due on or
be,ore Monda0
111/123 and !" 2 is
due on or be,ore
4ednesda0
111/213. .#e dates
%ere *oved up to
*a$e sure
ever0one ets a
c#ance to post
t#eir re5uired
participation posts
and still be able to
ta$e o,, on
.#ursda0.
Respond o .ee,ly discussion Auesions*
1* 8ha is he difference be.een cash basis and accrual basis
accouningF 8hy do accrual2basis financial sae+ens
!ro(ide +ore useful infor+aion han cash2basis financial
sae+ensF Describe .hen each +ehod ;cash basis and
accrual basis accouning< .ould be a!!ro!riae o use*
2* -he ineraci(e re!resenaion of 0xhibi J*1 ;see he lin,
abo(e under L?eadingsM< gi(e you a se! by se! exa+!le of
ho. o co+!lee a .or,shee* Saring .ih .ha is lised
and co+!liled o !re!are a .or,shee all he .ay hrough o
ho. o co+!lee all of he colu+ns* Afer you go hrough
his exhibi 5 .ould li,e you o choose one of he colu+ns1
'nad3used -rial Balance
Ad3us+ens
Ad3used -rial Balance
5nco+e Sae+en
Balance Shee : Sae+en of D.ner@s 0Auiy
and ex!lain .ha a+ouns .e !u in he colu+ns and .hy*
;For exa+!le ho. do .e ge he a+oun ha goes in under
Cash accoun in he Ad3used -rial Balance colu+nsF And
ho. do .e ,no. if i su!!osed o be in he Debi or Credi
colu+nF<
=onday
;11/1$<
8ednesd
ay
;11/21<
1#
1#
C#ec$point
Ad3us+ens and
Accrual and Cash
Basis Accouning
Resources( Fundamental Accounting Principles% !!* 117B11$
Co*plete Cuic, Sudy Auesions I2& and I2$ on !* 117 and
0xercises I2I !* 11$*
Post your ans.ers as an aach+en*
Saurday
;11/2J<
Changed
dae due
o
>oliday
25
Week Four: Completing t"e Accounting Cycle
Course Design Guide
ACC/225 Version 7
5
Details Due Points
Objectives 6.1 5denify he se!s of he accouning cycle*
6.2 )re!are closing enries% !os2closing rial balance% and re(ersing
enries*
6.3 )re!are a classified balance shee*
6.6 )re!are financial sae+ens using he ad3used rial balance*
C#ec$Point
)re!aring Balance
Shees and
Sae+ens
Resources( Fundamental Accounting Principles% !!* 15& 2 15$
Co*plete Cuic, Sudy Auesions J22 : J27 on !!* 15& : 157 and
0xercises J2J and J25 on !* 15$*
Post your ans.ers as an aach+en*
-hursday
;11/2$<
25
)ndividual
)re!aring 0nries
and Sae+ens
Resources( Fundamental Accounting Principles% !!* 1&5B1&&
Co*plete !roble+s J25A ;all reAuire+ens ='S- be co+!leed<*
8hen res!onding o he analysis co+!onen of J25A% hin, criically
abou he !ossible errors ha are described* 5n your ans.er%
carefully analy/e he .or,shee as if he errors .ere +ade and
!resen he e(idence for your ex!lanaion* 5denify he
conseAuences of he errors and describe heir affec on he financial
sae+ens* 0x!lain .heher he error is li,ely o be disco(ered .hen
co+!leing he .or,shee*
Post your ans.ers as an aach+en*
Sunday
;12/2<
1##
Course Design Guide
ACC/225 Version 7
&
Week Fi#e: Merc"andising Accounting
Details Due Points
Objectives 5.1 5denify +erchandising er+s*
5.2 Calculae re(enues% ex!enses% and inco+e*
5.3 )re!are 3ournal enries for +erchandising aci(iies*
5.6 Describe !eriodic and !er!eual in(enory syse+s*
Readins Read Ch* 5 : & of Fundamental Accounting Principles.
Participation Participate in class discussion* ?eAuire+en B a leas 2
subsani(e !oss on four differen days ;he ans.ers o your DC@s
DD0S coun o.ards !arici!aion B so you .ill ha(e o !os a leas
& res!onses in addiion o he DC ans.ers for a oal of a leas E
!oss<*
2#
!iscussion
"uestions
Respond o .ee,ly discussion Auesions*
1* -he +ain difference be.een a =erchandising Co+!any
and a Ser(ice Co+!any is .ha*** 5n(enory* So far .e
ha(e been .or,ing .ih only ser(ice co+!aniesN hey
co+!lee a 3ob and ge !aid% and he only !urchases .e
ha(e had are su!!lies* Oo. .e .an o change our
direcion o +erchandising co+!aniesN no +anufacurers
.ho +a,e heir o.n goods% +erchandisers% ones .ho
!urchase goods fro+ so+eone else and sell he+ o
consu+ers*
For exa+!le 8al+ar .ould be a +erchandiser* -hey
!urchase in(enory fro+ ohers% hey do no +a,e heir o.n
in(enory* 8hen hey !urchase in(enory hey .ould
increase in(enory ;in(enory is an asse and o increase an
asse .e .ouldP Debi< and eiher decrease cash ;if !aid
.ih cash< or increase A/) ;if !aid on credi<*
5 .ould li,e e(eryone o read hrough Cha!er 5% including
A!!endix 5A and 5B% !ic, a ne. conce! .ihin his reading
and ex!lain i he bes you can in your o.n .ords*
?e+e+ber .e are all learning ogeher so 3us do he bes
you can*
2* 5n your o.n .ords% describe one of he four in(enory
cosing +ehods ;65FD% F5FD% 8eighed A(erage% and
S!ecific 5denificaion< and ho. i differs fro+ he oher
hree*
-uesday
;12/J<
-hursday
;12/&<
1#
1#
C#ec$Point
5n(enory Syse+s
and Calculaing
?e(enues%
0x!enses% and
5nco+e
Resources( Fundamental Accounting Principles% !!* 2#E% and 2#$
Co*plete 0xercises 52$ and 521I ;+a,e sure you co+!lee !ar A B
!eriodice +ehod and !ar B B !er!eual +ehod< on !!* 2#E and
2#$*
Post your ans.ers as an aach+en*
Friday
;12/7<
25
Course Design Guide
ACC/225 Version 7
7
Week Si$: In#entory
Details Due Points
Objectives 7.1 Co+!ue in(enory balances using differen in(enory (aluaion
+ehods*
7.2 Calculae he lo.er of cos or +ar,e for in(enory*
7.3 0si+ae in(enory using reail in(enory +ehod and gross !rofi
+ehod*
7.6 )re!are +uli!le2se! and single2se! inco+e sae+ens*
C#ec$Point
Co+!uing
5n(enory Balances
and 6o.er of Cos
or =ar,e
Resources( Fundamental Accounting Principles% !!* 2J7B2J$
Co*plete Cuic, Sudy Auesion &21 on !* 2J7 and 0xercises &21 on
!* 2JE* 18ou *ust s#o% all o, 0our %or$ ,or t#ese t%o proble*s
9 sub*ittin just ans%ers %ill not be accepted ,or points.3
-hursday
;12/1I<
25
)ndividual
0si+aing 5n(enory
and )re!aring
=uli!le2Se! and
Single2Se! 5nco+e
Sae+ens
Resources( Fundamental Accounting Principles% !!* 251
Co*plete )roble+ 52JB on !* 21J 2 215% )roble+ &21A on !* 251*
;Be.are B hese are (ery deailed !roble+s and +ay a,e you a
.hile o co+!lee* =a,e sure you gi(e youself enough i+eQQQ< 18ou
*ust s#o% all o, 0our %or$ ,or Pr. 7:1A 9 sub*ittin just
ans%ers %ill not be accepted ,or points.3
Post your ans.ers as an aach+en*
Sunday
;12/1&<
1##
Course Design Guide
ACC/225 Version 7
E
Week Se#en: Accounting Information Systems and Special %ournals
Details Due Points
Objectives 7.1 5denify accouning infor+aion syse+ co+!onens
7.2 5denify accouning infor+aion syse+ !rinci!les*
7.3 )re!are s!ecial 3ournals fro+ business ransacions*
Readins Read Ch* 7 : E of Fundamental Accounting Principles*
Participation Participate in class discussion* ?eAuire+en B a leas 2
subsani(e !oss on four differen days ;he ans.ers o your DC@s
DD0S coun o.ards !arici!aion B so you .ill ha(e o !os a leas
& res!onses in addiion o he DC ans.ers for a oal of a leas E
!oss<*
2#
!iscussion
"uestions
Respond o .ee,ly discussion Auesions*
1* S!ecial 9ournals and Subsidiary 6edgers are an i+!oran
!ar of e(ery accouning syse+* Describe one s!ecial
3ournal or subsidiary ledger and ell us ho. he 3ournal or
ledger benefis an accouning syse+*
2* Choose a !o!ular +erchandise or ser(ice co+!any* >o.
+igh he co+!any use accouning infor+aion syse+sF 5n
.ha .ays do hese syse+s benefi he co+!anyF 5n .ha
.ays +igh he syse+s be challenging for he co+!anyF
>o. .ould he co+!any include inernal conrols in he
syse+F
-uesday
;12/1E<
-hursday
;12/2#<
1#
1#
C#ec$point
Accouning
5nfor+aion Syse+s
and S!ecial
9ournals
Resources( Fundamental Accounting Principles% !!* 2$#B2$1
Co*plete Cuic, Sudy Auesions 72J on !* 2$# and 0xercises 721%
72J% 727% : 721# on !!* 2$#B2$1 ;noe ha only he Sales 9ournal
needs o be co+!leed for 0x* 721% only he C? 9ournal needs o be
co+!leed for 0x* 72J% only he )urchases 9ournal needs o be
co+!leed for 0x* 727 and only he CD 9ournal needs o be
co+!leed for 0x* 721#% in oher .ords here .ill be ransacions
lised ha .ill no be used B as, Auesions if you ha(e any<*
Post your ans.ers as an aach+en*
Friday
;12/21<
25
4inter ;rea$( ;rea$ ,or t#is class %ill be ,ro* Monda0 !ece*ber 26< 2=12 t#rou# >unda0 ?anuar0 7<
2=13@ %it# 4ee$ A beinnin on Monda0 ?anuar0 7< 2=13. .#ere are no assin*ents or participation
re5uired/due durin t#is t%o %ee$ brea$. Rela' and #ave a /app0 and /ealt#0 /olida0BB >ee 0ou in t#e
+e% 8ear.
Course Design Guide
ACC/225 Version 7
$
Week &ig"t: Cas" and Internal Controls
Details Due Points
Objectives A.1 0(aluae inernal conrol o(er cash*
A.2 )re!are !ey cash enries*
A.3 )re!are a ban, reconciliaion*
C#ec$Point
5nernal Conrol and
Ban,
?econciliaions
Resources( Fundamental Accounting Principles% !!* II5 and II&
Co*plete Cuic, Sudy Auesion E2& on !* II5 and 0xercises 72E :
7211 on !* 2$1*
Post your ans.ers as an aach+en*
-hursday
;1/1#<
25
)ndividual
5nernal Conrol and
Ban,
?econciliaions
Resources( Fundamental Accounting Principles% !* II$
Co*plete 0xercise E21 on !* II& and )roble+ E2JA ;including he
Analysis Co+!onen< on !*II$*
Cse he s!readshee in A!!endix B a(ailable on he suden 8eb
sie o co+!lee )roble+ E2JA* 'se he abs labeled S)#E2#JA and
Gi(en )#E2#JA ;only<
Post your ans.ers as an aach+en*
Sunday
;1/1I<
1##
Course Design Guide
ACC/225 Version 7
1#
Week 'ine: Applying t"e Accounting Cycle
Details Due Points
Objectives 2.1 Co+!lee he se!s of he accouning cycle for a gi(en business
siuaion*
Participation Participate in class discussion* ?eAuire+en B a leas 2
subsani(e !oss on four differen days ;he ans.er o your
Ca!sone DC DD0S coun o.ards !arici!aion B so you .ill ha(e
o !os a leas 7 res!onses in addiion o he DC ans.ers for a oal
of a leas E !oss<*
2#
Capstone
!iscussion
"uestion
Respond o he ca!sone discussion Auesion*
1* 8hen you began his course so+e sudens had so+e
accouning ,no.ledge and ohers .ere co+!leely ne. o
he sub3ec% so .ha ha(e you learnedF )lease describe
.ha you ,ne. abou accouning .hen you sared our
course and a,e us hrough he 3ourney of .ha you ,no.
no.*
-uesday
;1/15<
2#
Dinal Project
Co+!rehensi(e
)roble+2)er!eual
Resources( A!!endix A% Fundamental Accounting Principles% !*
I#1% and A!!endix C
Co*plete he Co+!rehensi(e )roble+2)er!eual* 5n his !ro3ec%
follo. he se!s of he accouning cycle o !rocess gi(en
ransacions in a business en(iron+en* -hen% synhesi/e s!ecial
3ournals% a rial balance% financial sae+ens% and a !os2closing rial
balance*
Cse he s!readshee in A!!endix C a(ailable on he suden 8eb
sie o co+!lee he !roble+s* 'se he abs labeled )#7C and Gi(en
)#7C only ;feel free o delee he oher abs if you .ould li,e<* -he
Gi(en ab has he ransacions lised in a lis for+ and is so+ei+es
confusing* D(er he years 5 ha(e found ha sudens do +uch beer
on he final if hey use he deail in he ex% beginning on !age I#1
insead of he infor+aion on he gi(en ab* 5f you do run ino any
Auesions or issues along he .ay% !lease 3us as,Q
Post your ans.ers as an aach+en*
Sunday
;1/2#<
2##
Copyrig"t
'ni(ersiy of )hoenixR is a regisered rade+ar, of A!ollo Grou!% 5nc* in he 'nied Saes and/or oher counries*
=icrosofR% 8indo.sR% and 8indo.s O-R are regisered rade+ar,s of =icrosof Cor!oraion in he 'nied Saes and/or oher counries*
All oher co+!any and !roduc na+es are rade+ar,s or regisered rade+ar,s of heir res!eci(e co+!anies* 'se of hese +ar,s is no
inended o i+!ly endorse+en% s!onsorshi!% or affiliaion*
0died in accordance .ih 'ni(ersiy of )hoenixR ediorial sandards and !racices*