Drew University
COURSE SYLLABUS –BUS 15 Financial Accounting
COURSE DESCRIPTION:
BST 15 Fundamentals of Financial Accounting
4 credits. This introductory course exposes students to the accounting principles
and practices used by decision-makers associated with a business or
governmental entity. Major topics include the accounting cycle, preparation and
analysis of financial statements, standards and procedures for assets and
liabilities, and the roles of corporate communication and responsibilities with
respect to the accounting process.
Required Text:
TITLE:Financial & Managerial Acct V1 (w/Working Papers & Connect Plus)
AUTHOR:Wild
EDITION:4th
COPYRIGHT YEAR:2011
PUBLISHER:McGraw-Hill Higher Education
ISBN:9780077971007
TITLE:Financial & Mgrl Acctg w/Wk Pprs (V1:1-13)
AUTHOR:Wild
EDITION:4th
COPYRIGHT YEAR:2012
PUBLISHER:McGraw-Hill
ISBN:9780077318352
All assignments will be administered via Connect. Connect is a online
learning system developed by Mc-Graw Hill.
COURSE OBJECTIVES:
By the end of the course the student will be able to:
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Classify accounts as assets, liabilities, owner’s equities, revenues or
expenses
Explain the Accounting Equation and the interaction of its elements
Apply GAAP to the analysis, recording and reporting of business
transactions
Apply double-entry accounting to record business transactions
Define Accrual Accounting
Journalize and Post routine business transactions
Complete and balance a worksheet
Journalize and Post adjusting and closing entries
Prepare a complete set of basic financial statements
Prepare a post-closing trial balance, and any required reversing entries
Explain the advantages and disadvantages of periodic and perpetual
inventory systems
Record transactions related to sales and purchases under the periodic
and perpetual inventory systems
Calculate the pricing of inventory, using the cost basis under the periodic
inventory system, using the (1) specific identification method; (2) averagecost method; (3) first-in, first-out method; (4) and the last-in, first-out
method
Define depreciation and compute using the (1) straight-line method; (2)
the production method; and (3) declining-balance method
Record the issuance of Bonds
Record the amortization of bond discount or premium
Identify the forms of business ownership
State the principal purposes and uses of the statement of cash flows
Analyze Financial Statements
TOPICAL OUTLINE:
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Chapter 1: Introduction to Accounting and Business
Chapter 2: Analyzing and Recording Transactions
Chapter 3: Adjusting Accounts and Preparing Financial Statements
Chapter 4: Accounting for Merchandising Operations
Chapter 5: Inventories and Cost of Sales
Chapter 6: Cash and Internal Control
Chapter 7: Accounts and Notes Receivables
Chapter 8: Long-Term Assets
Chapter 9: Current Liabilities
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Chapter 10: Long-Term Liabilities
Chapter 11: Corporate Reporting and Analysis
Chapter 12: Reporting and Analyzing Cash Flows
Chapter 13: Analyzing Financial Statements
Academic Accommodations: Should you require academic accommodations,
you must file a request with the Office of Educational Affairs (BC 119, extension
3327). It is your responsibility to self-identify with the Office of Educational Affairs
and to provide me with the appropriate documentation from that office at least
one week prior to any request for specific course accommodations. There are
no retroactive accommodations.
Academic Honesty: Drew University's standards for academic conduct are
available on-line at http://www.drew.edu/catalog/cla/academic_regulations.html.
All students are expected to adhere to these guidelines. Appropriate disciplinary
action will be taken if violations of these guidelines occur. If you are unfamiliar
with these rules, please be sure to read them.
Grading:
Online assignments 30%
Midterm Exams 30%
Final Exam 40%
Assignments:
Assignments will be online. The instructor will provide the URL on the first day of
class.
LATE WORK POLICY:
Late assignments will not be accepted and will result in a grade of zero.
There will be no make-up exams. Missed exams will be graded as a zero.
This syllabus may be amended at the discretion of the instructor.