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BUS-253-20, Financial Accounting (FA13)

INSTRUCTOR: Charles T. Fagan, MBA, CPA, CGMA, CFE

SCHEDULE/DAY/TIME: SEM/Saturday/8:30 – 11:15 AM, 09/07/2013-12/14/2013

CONTENT:

This course will introduce the student to the principles and practices that support Financial Accounting. Accounting, in general, is asystem that provides numerical information todecision makers. Financial accountinginformation summarizes the events and transactions of businesses for external users, such ascreditors, investors and regulators. The concept of accrual-based accounting will be presented and utilized.  The course will introduce the three basic financial statements and the basic accounts and information that they contain.  Thecoursematerial includestechnical information consistingof accountingconcepts andapplications.  The emphasisis on auser perspective.” The ultimate goal of this course is for the student to understand the core principles of financial accounting, who uses financial information, to understand the three basic financial statements and how to apply financial accounting information to sound business decisions.

LEARNING OBJECTIVES:

-Be able to understand and use the basic accounting equation (A – L = OE)

-Be able to record/journalize basic business transactions

-Be able to use and construct the three basic financial statements: Balance Sheet, Income Statement and Statement of Cash Flows

-Be able to use and apply the core financial accounting principles

-Understand and be able to demonstrate the financial reporting process

-Be able to use and perform financial ration analysis

METHODS:

The class will be composed of the following:

1. Lectures

2. In-class Discussions/Problem Solving

3. Group Assignments

4. In-class Demonstrations

5. Homework/Readings

REQUIREMENTS AND ASSIGNMENTS: 

Tests

Class participation will be part of a student’s grade. There will be three to four tests, including a final exam, as well as a several quizzes and graded assignments (that are prepared outside of class). The syllabus will provide more details.

REQUIRED TEXT(S) OR MATERIALS: 

Textbook: Accounting: Tools for Business Decision Making, 4th Edition. Kimmel, Weygandt and Kieso Publisher: JohnWiley& Sons,Inc

RECOMMENDED READINGS OR MATERIALS: 

Access to the Wall Street Journal

READINGS AND/OR ASSIGNMENTS TO BE DONE PRIOR TO THE FIRST CLASS:

Read Chapter 1 - Introduction to Financial Statements