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Syllabus ACCOUNTING 2101 Spring 2011

Syllabus ACCOUNTING 2101 Spring 2011 - ACCOUNTING 2101...

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ACCOUNTING 2101 Financial Accounting SYLLABUS Timothy C. O'Rourke - CPA, MBA Vice President for Computer and Financial Services and CIO Temple University Spring 2011 OFFICE: 708 Conwell Hall, Temple University TELEPHONE: Office (215) 204-7077 Home (610) 565-4047 E-MAIL [email protected] ASSISTANT: Marion Hansberry [email protected] OFFICE HOURS: 8:30 a.m. - 4:30 p.m. - Monday through Friday. By appointment only . TEXT: Financial Accounting: The Impact on Decision Makers (Seventh Edition) by Gary A. Porter and Curtis L. Norton DO NOT BUY A USED BOOK: The book is available at our bookstore (Barnes and Noble) and at Zavelle’s. Note; there is a significant amount of work from the on-line web site of Cengage, the book’s publisher. You will need to get the book (or E-book) to access this site and perform the work for this class. You need the book with the access codes—make sure they are included when you buy your book. The E-Book is available on-line directly from the publisher it costs about $70 (substantially less than half of the printed version available in the bookstores). I would suggest buying the E- Book—it is MUCH less expensive. PREREQUISITE: None GOALS: This is the first course in the introductory accounting sequence—Financial Accounting. It is an overview of accounting for use by a business enterprise and by users outside of the enterprise. We will cover the basics of double entry accounting. COURSE OBJECTIVE: Regardless of your major area of study, understanding financial reports is crucial to success in business. You will use what you learn in this course in many of your other courses in your academic career and certainly when you go into the business world. The objective of this course is to develop an understanding of how financial information is recorded and reported. At the end of the course, you should able to understand… 1. The objectives of financial reporting and recognize the importance of accounting information as the language of business. 2. Financial statements, specifically the Statement of Earnings, the Balance Sheet, and the Statement of Cash Flows.
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3. The content of the basic financial statements and the relationships among them. 4. The accounting process of accumulating and reporting aggregate information about economic and financial transactions. 5. The principles used to value assets and liabilities as reported in the Balance Sheet. 6. How income is measured as reported in the Earnings Statement. 7. How cash flows are measured and reported in the Cash Flows Statement. 8. The various components of owners’ equity. 9. The importance of ethics in the production and presentation of accounting information for business decision making. 10. The various methods of using financial statements to analyze and compare business entities.
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