COURSE SYLLABUS1.COURSE TITLEPrinciples of Accounting I2.COURSE CODEACCT20033.PRE-REQUISITENil4.CO-REQUISITENil5.NO. OF UNITS3 Units6.CONTACT HOURS42 Hours7.MEDIUM OF INSTRUCTIONEnglish8.OFFERING UNITDivision of Business and Management9.SYLLABUS PREPARED AND REVIEWED BYPrepared by: Dr. Sarah ChowReviewed by: Dr. Jessica Tian/Dr. Donna Chan10.AIMS AND OBJECTIVESThe objective of this course is to provide students with a general understanding offinancial accounting principles and concepts. Students will learn how to recordeconomic events under accrual accounting as well as how to prepare and interpret thebasic financial statements. The key topics include:accounting principles and concepts,accounting cycle and recording process, accounting information system, cloudaccounting software, internal control and cash, accounting for receivables, current andnon-current assets, and accounting for current liabilities.
11.COURSE CONTENTTopicsHoursLearningOutcome No.I.Introduction:AWhat is accounting;BAccounting data users;CBookkeeping vs. Accounting;DBasic accounting principles, concepts, andassumptions;EThe accounting profession and ethical conduct;FAccounting standards.3CILO 1II.Accounting Cycle:AAccounting equation and its elements;BTransaction analysis with Accounting Equation;CFinancial statements introduce.3CILOs 1,2III.Recording Process:AT-Accounts, ledger andJournal; Debit and Credit,Double entry system;BJournalising and posting;CTrial Balance and its Limitations.3CILOs 1,2IV.Recording Process:AAdjusting the Accounts: Concept of accruals andprepayment;BAssets vs. Expenses.3CILOs 1,2V.Recording Process:AAdjusted trial balance and preparation of FinancialStatements based on service business;BCorrection entries, reversing entries and closingentries.3CILOs 2,3VI.Accounting for retail operations and completion ofaccounting cycle:APurchases of merchandise, Sales and COGS underPeriodic Inventory and Perpetual Inventory System.