Project #8996 - ACC403 Principles of Accounting

Course Description

This course is a survey of the traditional areas of financial and managerial accounting. The emphasis is on the use of financial information in decision making. The course begins with a review of financial statements published under generally accepted accounting principles. The limitations of these statements are emphasized with suggested adjustments to overcome those limitations. The majority of the course focuses on the contribution margin approach to decision making. Additional topics include relevant costs, allocation of costs and performance evaluation.

Significance of the Course within the Program

The BSBA program objectives are listed at http://www.trident.edu/student-learning-outcomes.

Course Overview

Welcome to ACC 403, Principles of Accounting.

The first three modules of this course provide an introduction to financial accounting. You will learn about standard setting bodies, the attestation function, and the financial statements themselves. The emphasis is on a user perspective, but it is also important to construct simple financial statements in order to better understand the purpose and flow of financial information.

In modules four and five, you will learn about the use of variable costing and related managerial accounting topics. The emphasis is now on using accounting information as a tool in the internal decision making process. Remember that this internal use of financial information is characterized by a single criterion; the benefit should exceed the cost of obtaining and analyzing the information.

Enjoy this accounting journey through the use of financial statements and variable costing information.

Learning Objectives

By the end of this course, the student shall be able to satisfy the following outcomes expectations:

  • Module 1
    • The student should be able to explain the role of financial accounting in business.
  • Module 2
    • The student should be able to analyze income statement accounts.
  • Module 3
    • The student should be able to analyze balance sheet accounts.
  • Module 4
    • The student should be able to explain the difference between financial and managerial accounting.
  • Module 5
    • The student should be able to classify budgeting strategies.
  • Module 6
    • Prepare and submit a self-reflective essay.
     

Course Requirements

Case Assignments

The case assignment (case study) is a written description of a problem or situation. "Most cases are a snapshot of a particular situation within a complex environment."

The purpose of the case assignments in this course is to place the student in a position which will require research, synthesis of information and critical thought. You will be asked to distinguish pertinent from peripheral facts, to identify central alternatives among several issues competing for attention, and to formulate strategies and recommendations. The method provides an opportunity to sharpen problem-solving skills and to improve your ability to think and reason rigorously.
Note that your response will require research, synthesis of information and critical thought.

The Case Assignments represent 60% of the student’s overall grade.

Session Long Project

The Session Long Project consists of an integrative project emphasizing the personalized application of each module's concepts from the course. For Modules 1-5, students are required to engage in an original integrative project reflecting their comprehensive knowledge of and ability to apply the course materials. Each component of the SLP will be graded on a modular basis.

The Session Long Project represents 30% of the student’s overall grade.

Threaded Discussions

The threaded discussions will afford the student opportunities for synchronous as well as asynchronous lecture/discussions. The threaded discussion affords the student a forum for intellectually engaging other students in critical analysis and discussion of modular topics, as directed and moderated by the professor. The minimum interaction expected of you is to respond to this question / topic during the first week of each module. During the 2nd week of each module, you are expected to read through responses by peers (from week 1 of the module) and post a 2nd response addressing 1 or more of the shared ideas.

The Threaded Discussions represent 10% of the student's overall grade.

Live Conference

Does not pertain to this course

Assignment Due Dates

Be sure to review the TUI Calendar for important module due dates.

Please note that assignment due dates are the Monday following the second Friday of each module. For students not yet familiar with the model of instruction at TUI, information is available about course navigation and the various components of TUI courses.

Grading

You will be evaluated on the quality and comprehensiveness of all written assignments submitted (modular case assignments and the Session Long Project) as well as participation in weekly threaded discussions. Grades will be awarded on an A through F scale. Your course grade will be based on the grades received on your assignments and TD participation according the following weighting scale:

Case Assignments 60%
Session Long Project 30%
Threaded Discussions 10%
Total 100%

Policies

Trident University students are expected to be familiar with the University policies that could have an impact on their academic success. The following policies should be reviewed in TUI’s 2012 – 2014 University catalog at the start of every session.
  • Academic Integrity
  • Academic Participation and Substantive Interaction
  • Grading and Academic Performance
  • Complaint and Grievance Resolution
  • Extensions and Incomplete Grades
  • Grade Challenges
  • Satisfactory Academic Progress
  • Leaves of Absence
  • Withdrawal
You can find the University’s catalog at: http://www.trident.edu/university-catalog-student-hand-book#Policies and Procedures

 

Course Materials / Bibliography

APA Format: click Student Guide to Writing a High Quality Academic Paper.

 

Module 1:  Financial Accounting - Introduction

 Required Materials:

Baruch College, The University of New York (2008). Guide to Financial Statements. This is a 45-minute interactive video presentation with audio.  It is an excellent introduction and overview of financial statements. You do not have to watch the whole presentation at one time since it is easy to restart at different points. The information is also available in a PDF file.

Benedicto, M.S. (2008) Introduction to Financial Accounting. IE Business School.  A multimedia presentation. The information is also available in a PDF file.  Click on “Financial Statements Tab” and "Practical Example" tab. Retrieved from http://openmultimedia.ie.edu/openproducts/financial_accounting/financial_accounting/frames.html

Read the appropriate chapters in the following text(s):

Edwards, J.D. & Hermanson, R.H. (2007) Accounting Principles: A Business Perspective. First Global Text Edition, Volume 1. Financial Accounting, pp. 6 – 37. Retrieved from http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf

Gangwar, Sharda & Gangwar, D.K. (2009). Fundamental Principles of Accounting, Global Media (read chapter 4: Trial Balance), from library.

Walther, L.M. (2010). Principles of Accounting: A Complete Online Text, chapters 1 and 2. Retrieved from http://www.principlesofaccounting.com/ 

Note that there are useful videos associated with related chapters in Dr. Walther's textbook. They are all useful, so feel free to watch them all. Readings from this textbook will be assigned for future modules and each chapter has at least one video associated with it. For example, you can find a video of Ch. 1 from http://www.principlesofaccounting.com/youtube_player/player.html?filename=ZlvzdxhjfXw, or http://www.youtube.com/user/larrywalther/videos?view=pl.

Walther, L. (2010, March 5). Financial and Managerial Accounting Information, Chapter 1 [Video file] Retrieved from the playlist at http://www.youtube.com/user/larrywalther/videos?view=pl

Walther, L. (2010, March 6). The Four Core Financial Statements, Chapter 1 [Video file] Retrieved from the play list at  http://www.youtube.com/user/larrywalther/videos?view=pl

Optional Materials:

SEC (2007). Beginner's Guide to Financial Statements. Retrieved from  http://www.sec.gov/investor/pubs/begfinstmtguide.htm

Tutor2u (n.d.) is another website with presentations/notes that explain some basic accounting concepts. Retrieved from http://tutor2u.net/sub_accounting.asp

Before you start the first case you may want to try the quiz below to test your knowledge of accounting terminology. It is not graded and the answers are available.

(May 2011). Learn Accounting for Free. Accounting Basics Quiz | AccountingCoach.com. Retrieved from http://www.accountingcoach.com/online-accounting-course/60Dpg01.html

 

Module 2: Financial Accounting - Income Statement 

Required Materials:

Read or listen to the appropriate chapters and/or videos in one of the following text(s):

Edwards, J.D. & Hermanson, R.H.  (2007) Accounting Principles: A Business Perspective. First Global Text Edition, Volume 1. Financial Accounting, pp. 250 – 271.  Retrieved from http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf

or

Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapter 3. Retrieved from http://www.principlesofaccounting.com/

and

Gangwar, Sharda & Gangwar, D.K. (2009). Fundamental Principles of Accounting, Global Media (read chapter 8), from library.

Walther, L. (2010, April. 10). Measurement Triggering, chapter 3 [Video file]. Retrieved from the playlist at  http://www.youtube.com/user/larrywalther/videos?view=pl

Apple Investor Relations (n.d.) retrieved from http://investor.apple.com/

Samsung Investor Relations (n.d.) retrieved from http://www.samsung.com/us/aboutsamsung/ir/newsMain.do

SEC (2007). Beginner's Guide to Financial Statements. Retrieved from http://www.sec.gov/investor/pubs/begfinstmtguide.htm

 

 

Module 3: Financial Accounting - Balance Sheet 

Required Materials:

Benedicto, M.S. (2008) Introduction to Financial Accounting. IE Business School. This is a multimedia presentation reviewing the four financial statements. The information is also available in a PDF file.  Click on “accounting equation” tab. Retrieved from http://openmultimedia.ie.edu/openproducts/financial_accounting/financial_accounting/frames.html

Edwards, J.D. & R.H. Hermanson (2007) Accounting Principles: A Business Perspective. Volume 1 Financial Accounting. The Global Text Project, pp. 395 – 411, 439 – 456 and 559. Retrieved from  http://dl.dropbox.com/u/31779972/Accounting%20Principles%20Vol.%201.pdf

Gangwar, Sharda & Gangwar, D.K. (2009). Fundamental Principles of Accounting, Global Media (read chapter 8), from library.

Apple Investor Relations (n.d.) retrieved from http://investor.apple.com/

Samsung Investor Relations (n.d.) retrieved from http://www.samsung.com/us/aboutsamsung/ir/newsMain.do

Optional Materials:

For review from module one.

Baruch College, The University of New York (2008). Guide to Financial Statements. This is a 45-minute interactive video presentation with audio.  It is an excellent introduction and overview of financial statements. You do not have to watch the whole presentation at one time since it is easy to restart at different points. The information is also available in a PDF file.

You may use the chapters and associated videos listed below as an additional resource.

Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapters 5 through 14. Retrieved from http://www.principlesofaccounting.com/

 

Module 4: Managerial Accounting - Variable Costing

Required Materials:

Agrawal, N. K. (2010). Principles of Management Accounting, Global Media (read chapters 1, 5, and 6), from library.

Martin, J.R. (n.d.) Management Accounting: Concepts, Techniques, and Controversial Issues - Chapter 1: Introduction. Management And Accounting Web Home Page. Retrieved from http://maaw.info/Chapter1.htm  

Madegowda, J. (2007). Management Accounting, Global Media (read chapters 1 and 8), from library.

Introduction to Managerial Accounting (2007, July 25) [Video File]. Retrieved from http://www.youtube.com/watch?v=pBCRmjnwWgo

Read one of the following:

Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapter 23 (the section titled Variable costing versus absorption costing) and chapter 18. Retrieved from http://www.principlesofaccounting.com/

or

Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011). Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 73-87. http://textbookequity.com/oct/Textbooks/TBQ_PA_Accounting_managerial.pdf

Optional resource(s)

Accounting for Management (n.d.). Managerial or Management or Cost Accounting Terms and Definitions. Retrieved from  http://www.accountingformanagement.com/managerial_accounting_defintions.htm

 

Module 5: Managerial Accounting - Budgeting

Required Materials:

Agrawal, N. K. (2010). Principles of Management Accounting, Global Media (read chapter 3), from library.

Hermanson, R.H., Edwards, J.D., & Invacevich, S.D. (2011). Accounting Principles: A Business Perspective. First Global Text Edition, Volume 2 Managerial Accounting, 108-113, 128-134, 165-169 and 181-183. http://textbookequity.com/oct/Textbooks/TBQ_PA_Accounting_managerial.pdf

Walther, L.M. (2011). Principles of Accounting: A Complete Online Text, chapters 21 and 22 (the section titled Traditional variance calculations for monitor cost and efficiency). Retrieved from http://www.principlesofaccounting.com

Subject Business
Due By (Pacific Time) 20/07/2013
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