Business MBA Syllabus-Principles of Accounting

Business MBA Syllabus-Principles of Accounting

SCHOOL OF BUSINESS ADMINISTRATION

1.           COURSE NUMBER & TITLE: BUS 403 ‑ Principles of Accounting

2.            COURSE DESCRIPTION: An introduction to basic accounting concepts and practices. Explores the basic

               processes of financial record‑keeping leading to the preparation of basic financial documents and their use as

               tools of managerial control and analysis.

3.            COURSE GOALS: Participants in this course will be expected to:

3.1          Acquire an understanding of basic accounting concepts and practices.

3.2          Learn the basic processes of financial record keeping.

3.3          Be able to prepare basic financial documents

3.4          Understand the use of accounting data as bases for control, analysis and        decision making.

3.5          Recognize the importance of accounting data as a form of communication

4.            COURSE CONCEPTS:

4.1          Assets

4.2          Liabilities

4.3          Net Worth

4.4          Balance Sheet

4.5          Income statement

4.6          Profit & loss statement

4.7          Journals

4.8          Return on investments

4.9          Trend analysis

4.10       Equity‑to‑debt ratios

4.11       Accounting cycles

4.12       Auditing

4.13       First‑in‑First‑Out vs. Last‑in‑First‑Out

4.14       Budgeting

4.15       Original Cost vs. Reproduction‑Cost New

5.            LEARNING ACTIVITIES:

5.1          Reports and projects

5.2          Reading assignments

5.3          Library research

5.4          Problem solving

5.5          Oral discussion with instructor

5.6          Term papers

5.7          Exams & quizzes

6.            PERFORMANCE REQUIREMENTS:

6.1          Distinguish between accounting and bookkeeping and discuss the impact of computer technology on both.

6.2          Explain the generally accepted accounting principles and describe the process by which they are established.

6.3          Describe the events recorded in accounting systems and the importance of sources documents and business papers in those systems.

6.4          Discuss the use and utility of financial statements as means of communication within the firm, and between the firm and external parties.

6.5          Explain how you would create an accounting system for a newly created business producing tangible products for sale to consumers.

6.6          Describe internal control procedures used to protect cash received from cash sales, cash received through the mail, and cash disbursements.

6.7          Explain the concept of depreciation and give an analytical comparison of the major methods of depreciation accounting.

6.8          Discuss procedures involved and possible problems encountered in accounting for assets and liabilities of corporations and partnerships.

6.9          Explain the concept of cash flow and why cash flow information is important to decision making.

6.10       Discuss the unique features of managerial accounting and cost accounting and their relationships to financial accounting.

6.11       Identify five new production management concepts and explain how they influence job order accounting systems.

6.12       Describe activity-based costing and its advantages for generating useful information for use by management.

6.13          Calculate the break-even point for a single-product company and explain why break-even procedures can contribute to good cost-volume-profit analysis.

6.14          Identify major benefits from budgeting, describe the components of a master budget, and list the sequence of steps in preparing a master budget.

6.15          Explain the nature and importance of capital budgeting and how information about incremental costs affects decisions such as accepting or rejecting additional volume.

7.            ASSESSMENT PLAN:  Students are required to complete all  performance requirements & demonstrate

               mastery by means such as examinations, paper writing, oral presentations & course-work.

8.            RECOMMENDED TEXT: 

               Larson, Kermit D., and Chiappetta, Barbara: Fundamental Accounting Principles.Chicago, IL: R.D. Irwin.

9.            RECOMMENDED REFERENCES:

              

               Eason & Burnet;  Essentials of Accounting.  South-Western Publishing

               Larson, Kermit D., Miller, Paul B.W.: Fundamental Accounting Principles.Homewood, IL: R.D. Irwin.

11/28/98 RFT