MAJOR LEARNING OUTCOMES: 1. The student will explain the principles of financial accounting, the business environment and accounting systems. 2. The student will record adjusting journal entries and complete the accounting cycle. 3. The student will describe the concepts of merchandising operations and inventories. 4. The student will identify the methods for internal control, cash and receivables in an organization. 5. The student will explain the acquisition and disposal of plant assets and intangible assets. 6. The student will define accounting practices for current liabilities and payroll. 7. The student will estimate and record transactions related to a corporation’s long-term liabilities and paid-in capital. CLASS SCHEDULE: MODULE TOPIC ASSIGNMENTS Starting our Course: Orientation & Module 1 Starting Our Course: Orientation CH 1 Accounting and the Business Environment: 1 Explain why accounting is important and list the users of financial information 2 Describe the organizations and rules that govern accounting 3 Describe the accounting equation, and define assets, liabilities, and equity 4 Use the accounting equation to analyze transactions 5 Prepare financial statements *NOTE: You will not have access to the “module” content of the course until this quiz has been completed. Acceptance of Syllabus and Course Expectations Quiz (Starting our Course Orientation*) Homework CH1 (Graded Assignments in MyAccountingLab) Chapter Exam CH1: (Graded Assignments in MyAccountingLab) Weekly Discussion
MODULE TOPIC ASSIGNMENTS Module 4 Continued. 4 Adjust and close the accounts of a merchandising business 5 Prepare a merchandiser's financial statements 7 Account for the purchase and sale of merchandise inventory using a periodic system (Appendix 5A) CH 6 Merchandise Inventory: 1 Identify accounting principles and controls related to merchandise inventory 2 Account for merchandise inventory costs under a perpetual inventory system 3 Compare the effects on the financial statements of the when using the different inventory costing methods 4 Apply the lower-of-cost-or-market rule to merchandise inventory 7 Account for merchandise inventory costs under a periodic inventory system 8 Estimate the cost of ending merchandise inventory using the gross profit method and the retail method Chapter Exam CH5 Chapter Exam CH6: (Graded Assignments in MyAccountingLab) Weekly Discussion Continue working on Comprehensive Problem (Graded Assignments in MyAccountingLab) Module 5 CH 7 Internal Control and Cash 1 Define internal control and describe the components of internal control and control procedures 2 Apply internal controls to cash receipts 3 Apply internal controls to cash payments 4 Explain and journalize petty cash transactions 5 Demonstrate the use of a bank account as a control device and prepare a bank reconciliation and related journal entries CH 8 Receivables: 1 Define and explain common types of receivables and journalize sales on credit, credit card sales, and debit card sales 2 Apply the direct write-off method for uncollectibles 3 Apply the allowance method for uncollectibles and estimate bad debts expense based on the percent-of-receivables, and aging-of-receivables methods 4 Account for notes receivable including computing interest and recording honored and dishonored notes Homework CH7 Homework CH8 (Graded Assignments in MyAccountingLab) Chapter Exam CH7 Chapter Exam CH8: (Graded Assignments in MyAccountingLab) Weekly Discussion Due Comprehensive Problem (Graded Assignments in MyAccountingLab)