MC1-ACCT2010_Principles_of_Accounting_I_10-12cohorts_ACCT_...

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COURSE SYLLABUS1.COURSE TITLEPrinciples of Accounting I2.COURSE CODEACCT20103.PRE-REQUISITENil4.CO-REQUISITENil5.NO. OF CREDITS3 credits6.CONTACT HOURS42 hours7.OFFERING UNITDivision of Business and Management8.SYLLABUS PREPARED & REVIEWED BYPrepared by: Ms. Sarah Chow/Dr. Donna ChanReviewed by: Dr. Raymond Ho9.AIMS & OBJECTIVESThe objective of this course is to provide students with a general understanding of basicaccounting concepts, accounting cycle (bookkeeping), principles and their applications insome elementary financial accounting topics including cash; current assets and currentliabilities; inventory and non-current assets.1/6
10.COURSE CONTENTTopicsHoursLearningOutcomeNo.Introduction: What is accounting; Accounting data users;Bookkeeping vs. Accounting; Basic accounting principles, concepts,and assumptions; The accounting profession and ethical conduct;Accounting standards.3CILO 1Accounting Cycle: Accounting equation and its elements;Transaction analysis with accounting equation; Financialstatements.3CILO 1,2Recording Process: T-accounts, ledger and journal; Debit and credit,double entry system; Journalising and posting; Trial balance and itslimitations.3CILO 1,2Recording Process: Adjusting the accounts: Concept of accruals andprepayment; Assets vs. Expenses.3CILO 1,2Recording Process: Adjusted trial balance and preparation offinancial statements based on service business; Correction entries,reversing entries and closing entries.3CILO 2,3Accounting for Retail Operations and Completion of AccountingCycle: Purchases of merchandise, Sales and cost of goods soldunder periodic inventory and perpetual inventory systems.

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Term
Summer
Professor
NoProfessor
Tags
Accounting, Balance Sheet, non current assets, CILO, Retail Operations and Completion of Accounting, financial accounting topics

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