Chabot College
Fall, 2002
Course Outline for Business 1A
PRINCIPLES OF ACCOUNTING I
Catalog Description:
1A -
Principles of Accounting I
4 units
Basic theory and structure of accounting; accounting cycle and preparation of
accounting statements for service and merchandising operations, receivables,
inventory, plant assets, current liabilities, payroll, accounting principles, concepts,
and partnerships. Strongly recommended: Business 7. 4 hours lecture.
Prerequisite Skills:
None
Expected Outcomes for Students:
Upon completion of this course, the student should be able to:
1.
2.
demonstrate an understanding of the basic accounting principles and concepts;
complete journal entries, post to ledger, perform adjusting and closing entries for
a set of books;
3. prepare financial statements and reports;
4. understand the need for internal control as well as preparing a bank
reconciliation;
5. process transactions relating to receivables, payables, inventories, plant assets,
natural resources and intangible assets;
6. demonstrate an understanding of the cash and accrual methods of accounting;
7. process transactions relating to a merchandising company;
8. display a working knowledge of special journals;
9. demonstrate an understanding of financial analysis and reporting;
10. discuss the difference in the accounting processes of the sole proprietorship and
partnership;
11. identify the ethical issues which exist in the business community.
Course Content:
1.
2.
3.
4.
5.
6.
7.
8.
9.
10.
11.
12.
13.
Accounting in Action
a. What is accounting
b. Financial statements
The recording process
Adjusting the accounts
Completion of the accounting cycle
Accounting for merchandising operations
Accounting information systems
a. Subsidiary ledgers
b. Special journals
c. Accounting software
Internal control and cash
Accounting for receivables
Inventories
Plant assets, natural resources and intangible assets
Current liabilities and payroll accounting
Accounting principles
Accounting for partnerships
Chabot College
Course Outline for Business 1A, Page 2
Principles of Accounting I
Fall 2002
Methods of Presentation:
1.
2.
3.
Lectures
Discussion
Problem solving
Assignments and Methods of Evaluating Student Progress:
1.
2.
Typical Assignments
a. Problems dealing with journal entries, financial statements,
closing entries
b. Mini practice set
Evaluation Methods
a. Chapter examinations
b. Midterm examination
b. Final examination
Textbook(s) Typical:
ACCOUNTING PRINCIPLES, Weygandt, Kiesco, Kimmel, John Wiley & Sons. Inc.,
1999.
Special Student Materials:
Calculator
mc 11/06/01
COBUS1A