King Abdulaziz University
Faculty of Economics & administration
Accounting Department
Second Semester (2015-16)
Accounting 117
Course title: Principles of Accounting
English Code no.: Acct 117
Credit Hours: 3 Credits
Section: DA&JA (Sun, Tue &Thurs.)
Time: BU 08:00 – 09:20
Instructor: Abdulrahman Almushaiqeh
Office no. : 339. Third floor, Faculty of E&A
Phone no. : 6952000 Extension (65303)
E – mail: aalmushaiqeh@kau.edu.sa
Office hours: Mon. & Wed. 9:30 - 01:00
Pre requisite Course: None
Course Description:
This Course introduces accounting and its role in the society, its concepts and fundamentals. It
explains also how to record the economic events, and covers the accounting cycle and preparing
financial statements for service and merchandising firms.
Course Objectives:
1.
2.
3.
4.
5.
Explain the nature of accounting and its role in the society.
Understand concepts and principles of accounting.
Analyze, record, and report transactions for servicing and merchandising firms.
Analyze and make end-period adjustments.
Explain inventory and different methods used to calculate it.
6. Prepare financial statements.
Course Outcomes:
By the end of this course, students should be able to:
1. Recognize the financial Accounting and its objectives.
2. Record financial transactions in the general journal, posting them to the general ledger,
preparing the trial balance and preparing the end- period adjusting entries and finally
preparing financial statements for both service and merchandising firms.
3. Know some of the accounting treatments of current and fixed assets and realize how to
prepare adjustment entries related to them in both service and merchandising firms.
Assessment Methods:
1. Exams :{ Mid- term Exam. (20 points); Second- Exam. (30 points); Final – Exam. (40 points)}
2. Tutoring classes (home works & quizzes) ( 10 points)
1
Main Reference:
Weygandt, Kimmel and Kieso. Accounting Principles, 11th Edition, International Students
Version. (John Wiley & Sons, Inc, 2014).
Supplementary Reference:
Larson, Wild, and Chiappetta. Fundamental Accounting Principles, (McGraw-Hill, 17ed, 2010).
Attendance:
1. Class attendance is very important to achieve the best understanding of the course material
since topics are closely related and dependent. Each class benefits from the attendance and
participation of all students. Late arrivals are disruptive to the class and show disrespect to
those who are on time. Students who miss 25% of term lectures will get a “DN” grade.
2. Attending the Tutorial classes is highly recommended as this will enable you understand the
material faster.
Minimizing Disruptions:
Mobile phones should be turned off during class. You should avoid engaging in side conversations
during class.
Cheating:
Cheating of any form will result in your being assigned an “F” grade for the course. Note that you
may not use your mobile phone during lectures and examinations.
Examination Absence:
If you miss an examination, you will be assigned a grade of “0” for the particular exam. Note that
a make-up examination will not be administered.
2
Acct. 117 Syllabus
Chapter
CH. 1
CH. 2
CH. 3
CH. 4
CH. 5
CH. 6
CH. 8
Contents ***
Accounting in Action
The Recording Process
Mid -term Exam. (Covers CHs. 1 and 2) – Date will be determined later on
Adjusting the Accounts
Completing the Accounting Cycle
Accounting for Merchandising Operations
Second Exam. (Covers CHs. 3, 4 and 5) – Date will be determined later on
Inventories
Fraud, Internal Control, and Cash
Final Exam. (Comprehensive; Covers CHs. 6, 8 and previous chapters), Date will
be determined later on.
*** Whole Chapters and appendices are prescribed curriculum except IFRS.
3