ACC201
PRINCIPLES OF ACCOUNTING
Unit Guide
AK49
Trimester 2
2023 - 2024
ACC201_PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
CONTACTS
Unit Instructor
Assoc.Prof Doan Anh Tuan
Email: tuandoan@isb.edu.vn
Ms. Nhung Nguyen
Email: nhung.nguyen@isb.edu.vn
Program Administrator
An Nguyen
279 Nguyen Tri Phuong, Ward 5, District 10, HCM
Phone: 08 54465555
Email: an.nguyen@isb.edu.vn
I. About Principles of Accounting (ACC201)
UNIT OVERVIEW
Accounting is the practice of recording, classifying, summarizing, analyzing and interpreting
information of an economic nature for the purpose of helping people make decisions. In
the world of business, the role of accounting is to support management in providing timely
and accurate financial information about the business so that informed decisions can be
made. This unit examines some of the basic rules and principles underpinning financial
accounting, as well as studying the practical uses of the information supplied through the
accounting process.
PRE-REQUISITES
None
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
II. Assessment Information
UNIT LEARNING OUTCOMES
The table below outlines the unit learning outcomes (ULOs) for this unit. Upon completion of this
unit, students will be able to:
1.
Explain the role of accounting in business
2.
Understand the meanings of key accounting terms
3.
Identify and understand the use of different accounting records
4.
Outline key accounting principles and standards
5.
Complete analysis charts and record transaction details from journal to ledger
6.
Interpret and make simple corrections to a trial balance
7.
Explain the difference between cash and accrual accounting methods
8.
Construct basic financial statements
9.
Analyze and interpret financial statements
PROGRAM LEARNING OUTCOMES
In line with its focus on assuring students’ skills in unit learning outcomes 1-7 above, this unit is also
responsible for introducing/developing/assuring the following program-level learning outcomes
(PLOs):
Knowledge & Application
1.
2.
3.
4.
Solid understanding and competency of appropriate application of business disciplinespecific knowledge.
Teamwork
Effective collaboration in teamwork or other tasks in organizational settings.
Critical thinking
Critical thinking through appropriate observing, analyzing and reasoning, etc.
Problem solving
Effective and constructive problem solving.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
ASSESSMENT SUMMARY
Assessment tasks are an integral part of the learning framework. Assessment tasks are designed to
measure student progress in achieving unit learning outcomes.
ASSESSMENT TYPE
DUE
WEIGHT
(%)
LEARNING OUTCOMES
ASSESSED
1.
In-class participation & discussion
(Group)
Students are assigned in groups and
required to complete in-class
discussion as well as practice
exercises each week.
Each week
15 %
ULO1-9
PLO1-4
2.
Mid-term exam (Individual)
Close-book exam.
Chapters covered 1,2,3,4,5,6
Week 7
20 %
ULO1-8
PLO1,3,4
3.
Group Assignment
Students are assigned in groups and
required to complete a given case
study.
Week 11
15 %
ULO1-9
PLO1-4
4.
Final exam (Individual)
Close-book exam: combination of
multiple choice, theoretical and
practical questions; all topics are
examined.
TBA
50 %
ULO1-9
PLO1,3,4
Final marks and grades are subject to confirmation by the School Assessment Committees which may
scale, modify or otherwise amend the marks and grades for the unit, as may be required by University
policies.
Note: To successfully complete this unit, students must:
▪
▪
▪
Achieve a minimum of 50 marks.
Complete all assessment items; and
Attend 80 percent of class time. See attendance requirements in the section of class policies
and rules below.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
ASSESSMENT TASK DETAILS
Assessment title
In-class participation & discussion (15%)
Purpose and description
Purpose: Part of active student learning, this assessment tests
students’ engagement to acquire knowledge across all topics in the
unit, and their ability to discuss and debate, apply and
communicate that knowledge to solve problems.
Description: Key slides preview and further guidance and
illustration will be provided, as well as pre-prepared problems and
questions will be discussed in class, therefore, active participation is
compulsory to achieve 20% of this assessment.
Assessment length
Varies from week to week.
Criteria to grade quality
The following criteria will be used to assess the percentage of
participation & discussion during class:
- Attendant
- Homework submission
- Participation in in-class activities
- Completed given problem sets
Completed in class and submitted via Google Form
Completed in class. Some evidence of preparation may be
collected in class and returned the following week.
Staff and peer feedback provided in class as problems and
cases discussed.
Submission method
Return method
Feedback provided
Assessment title
Mid-term exam (20%)
Purpose, description and
topics covered
Purpose: This exam provides students with an opportunity to
demonstrate their understanding of the topics covered in Chapter
1,2,3,4,5,6.
Description: This exam will be held during Week 5. You must attend the
lecture in which you are enrolled to take this assessment. You should be
prepared to complete recording journal entries, adjusting entries, geneal
ledger as well as preparing financial statements, including balance sheet,
income statement, owner’s equity statement, trial balance. Students are
also required to complete transactions for merchandising operations and
calculation of inventory cost by using cost flow methods.
This is a close-book assessment.
Assessment length
TBA
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
Criteria to grade quality
The following criteria will be used to assess the exam papers:
1. Correct answers to the questions.
2. Demonstrated discipline knowledge - understanding of theories,
concepts and frameworks.
Submission method
In-class assessment in Week 5 of the semester.
Return method
Written feedback will be provided to each student. All the results will
appear on www.e-learning.isb.edu.vn
Feedback provided
The report will summarise marks awarded for each correct answer to the
provided questions.
Assessment title
Group Assignment (15 %)
Purpose, description
and topics covered
Purpose: Group work is a valuable mechanism for assisting students to
develop collaborative and leadership skills.
Description: Students will be divided into small groups. Each group is
required to prepare and present an answer to an assigned case study. The
presentations for the case studies must be delivered in WEEK 9 seminar
and be of 10-15 minutes duration. You may use the overhead projector,
PowerPoints or whiteboard in your presentation. Each member should
have something to say during the presentation.
Each student's mark will be his/her group assignment mark weighted by
his peer evaluation score. All the members in the team should complete
the “PEER AND SELF ASSESSMENT OF TEAMWORK” form separately,
which is available on E-learning.
Team members do not necessarily receive the same mark.
Assessment length
Criteria to grade
quality
Submission method
Assignment task will be given in Week 6 of the semester. All written
reports and presentations are due in Week 9.
1.
2.
3.
4.
5.
Teamwork Criterion (check details on Moodle)
Contributions to group meetings
Leadership
Fostering teamwork
Presentation of a convincing argument
Individual contribution to achievement of outcomes
Online Submission via e-learning
Each member in the team should complete the “PEER AND SELF
ASSESSMENT OF TEAMWORK” form separately. All need to be submitted
to the Submission Box on E-Learning.
Return method
Immediate feedback will be given after the presentation and results will
appear on www.e-learning.isb.edu.vn
Feedback provided
The report will summarise marks awarded for presentation.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
Assessment title
Final examination (50 %)
Purpose, description
and topics covered
Purpose: Final examination provides students with an opportunity to
demonstrate their understanding of unit-related material covered during
the semester.
Description: A two-hour final examination for this unit will be held during
International School of Business Examination period. The questions for the
final examination will be sourced from any of the topics covered during the
term of the unit. The structure of the final examination will be provided in
the week prior to the examination date. This is a close-book examination.
Topics to be covered: All chapters
Assessment length
Criteria to grade
quality
TBA
The following criteria will be used to assess the exam papers:
1. Correct answers to consolidation worksheet entries
2. Demonstrated discipline knowledge - understanding of theories, concepts
and frameworks.
Submission method
-
Return method
N/A
Feedback provided
There will be no formal feedback.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
III. Teaching Activities
DELIVERY AND RESOURCES
Classes
▪ This unit provides 15 sessions (12 x 3 hours Senior Lecturer and 5 x 3 hours
Tutor)
Textbook
▪ Weygandt J.J., Kimmel P.D.& Kieso D.E. (2020). Accounting Principles
(14thed.).John Wiley & Son (Asia) Pte Ltd. International student version.
Reference
books
E-library
▪ Not Applicable
http://search.proquest.com/login
Username: UEHCMC2010
Password: thuvien0810
E-learning
https://e-learning.isb.edu.vn/
Referencing requirements
Student assignments are to contain original content created by the students. Assignments will be
rejected if they include plagiarised content or contain excessive amounts of quoted/cited material
and minimal original content. Students will receive a grade of ZERO (0%) for any assignments rejected
for this reason. Written assignments WILL BE RANDOMLY checked by the lecturer with Turnitin.com,
an online plagiarism-checking tool.
Furthermore, your reference to support your statements must be from a reliable source, such as
textbooks, additional reading materials, and reference books. However, many websites are not
reliable sources. Examples are Wikipedia.org, about.com, and ask.com. If you are not sure if a
reference is acceptable or not, please contact the lecturer.
The Publication Manual of the American Psychological Association (APA) 6th ed. will serve as the
primary reference materials for all students. Therefore, all papers must be submitted in APA format.
The mechanics of student papers and work will be evaluated, as well as the content. It is imperative
that guidelines be reviewed before an assignment is begun. It is also important that the required
submission format be followed in compiling the final paper or assignment.
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ACC201_PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
SCHEDULE OF ACTIVITIES
WEEK
SESSION
PEDAGOGICAL
METHOD
THRESHOLD CONCEPT ENGAGED
TOPIC COVERED
Chapter 1
Accounting in Action
1
1
-
Lecture
Chapter 2
The Recording Process
-
2
2
Lecture
Chapter 3
Adjusting the Accounts
-
Accounting Process
Users of Accounting Information
Accounting Conventions: Ethics, Principles and
Assumptions
Accounting equation and its components
Effect of business transactions on the accounting
equation
Different types of Financial Statements and how to
prepare them.
Introduction to Debit and Credit rules
General Journal: indicate how a journal is used in
the recording process
General Ledger: explain how a ledger and posting
help in the recording process
Prepare a Trial Balance
Fiscal vs Calendar Years
Cash vs Accrual Accounting: explain the accrual basis
of accounting and the reasons for adjusting entries.
Adjusting Entries: prepare adjusting entries for
Deferrals and Accruals
Describe the nature and purpose of an Adjusted
Trial Balance.
Qualities of Financial Information
WEEKLY READING & ACTIVITIES
WKK: Chapter 1
WKK: Chapter 2
WKK: Chapter 3
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
3
3
4
Tutorial
Lecture
Practical #1
Chapter 4
Completing the Accounting
Cycle
-
Key Review of Chapter 1,2,3
Problems & Exercises
-
Prepare a worksheet
Closing Entries: prepare Closing Entries and a Postclosing Trial Balance
Correcting Entries
Explain the steps in the accounting cycle
Identify the sections of a Classified Balance Sheet
-
Chapter 5
Merchandising Operations
5
Lecture
-
Describe Merchandising Operation and Inventory
system.
Introduction to Perpetual vs Physical Inventory
system.
How to record under Perpetual & Physical Inventory
system
Prepare Multi-step and Single-step Income
Statements
WKK: Chapter 1
H/W: WKK: Chapter 1: E1-6, E1-7, P14A
WKK: Chapter 2
H/W: WKK: Chapter 2 –P2-1A, P2-2A
WKK: Chapter 3
H/W: WKK: Chapter 3 –E3-3, E3-10
H/W: WKK: Chapter 3 –E3-7
WKK: Chapter 4
WKK: Chapter 5
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
Chapter 6
Inventories
6
-
4
7
Tutorial
Practical #2
-
Discuss how to classify and determine Inventory:
ownership, terms of sale
Apply Inventory cost flow methods and discuss their
financial effects: FIFO, LIFO, Average Cost (focused
on Perpetual rather than Periodic)
Indicate the effects of Inventory errors on the
Financial Statements
Key Review of Chapter 4,5,6
Problems & Exercises
WKK: Chapter 6
WKK: Chapter 4
H/W: WKK: Chapter 4 –E4-1, E4-2
H/W: WKK: Chapter 4 – P4-1A
WKK: Chapter 5
H/W: WKK: Chapter 5 –E5-1, E5-9,
Ẹ5-10
H/W: WKK: Chapter 5 –P5-1A
WKK: Chapter 6
WKK: Chapter 6 – E6-4, E6-7
WKK: Chapter 6 – E6-11, E6-14
MID-TERM EXAM
5
Chapter 9
Accounting for Receivables
6
8
Lecture
Chapter 10
Plant Assets, Disposal of
Plant Assets
-
How companies recognize, record, value and
dispose Accounts Receivable.
How companies recognize, record, value and
dispose of Notes Receivable.
Recognition and recording of Plant Expenditures/
PPE (Property, Plant & Equipments).
Capital vs Revenue Expenditure.
Valuation of PPE based on depreciation methods.
WKK: Chapter 9
Group Assignment Available
WKK: Chapter 10
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
-
How to account for the disposal of Plant Assets.
(discard, trade and exchange)
How Plant Assets are reported and analyzed
7
9
8
10
11
Tutorial
Practical #3
Lecture
Chapter 17
Statement of Cash Flows
Lecture
Chapter 18
Financial Statement
Analysis
-
Key Review of Chapter 9&10
Problems & Exercises
-
Discuss the usefulness and format of the Statement
of Cash Flows
Prepare a Statement of Cash Flows using the
indirect method.
Prepare the worksheet
Analyze the Statement of Cash Flows.
-
Apply horizontal and vertical analysis to Financial
Statements.
Analyze a company’s performance using ratio
analysis.
9
12
10
Tutorial
Practical #4
-
Key Review of Chapter 17&18
Problems & Exercises
WKK: Chapter 9
HW WKK: Chapter 9 – E9-1, E9-4, E96
WKK: Chapter 10
H/W WKK: Chapter 10 – E10-4, E10-7
WKK: Chapter 17
WKK: Chapter 18
Group Assignment Submission
WKK: Chapter 17
H/W: WKK: Chapter 17 – E17-2, E175, E17-7
WKK: Chapter 18
H/W: WKK Chapter 18 – E18-1, E182, E18-3
Revision Week – All Chapters
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ACC201_PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
TUTORIALS
Tutorials following the lecture in each session provide students the opportunity to apply and share
knowledge by doing a variety of in-class activities individually or in group such as exercises,
discussion, and presentation. These activities focus on demonstrating your skills and help you build
your ability to achieve the learning outcomes for this unit.
Practical questions/exercises will be provided in class. You will be expected to have completed
specific reading and exercises from the textbook and other required materials prior to attending each
lecture and practicals class. If you have not prepared adequately, you will not get the full benefit
from this learning opportunity. Attendance at Practicals are COMPULSORY to receive a full grade
for the in-class exercises. Absentees will receive marks penalty for absence at these sessions.
ADDITIONAL UNIT INFORMATION
Referencing
Plagiarism
Student assignments are to contain original content created by the students. Assignments will be
rejected if they include plagiarised content or contain excessive amounts of quoted/cited material
and minimal original content. Students will receive a grade of ZERO (0%) for any assignments rejected
for this reason. Written assignments WILL BE checked by the lecturer with Turnitin.com, an online
plagiarism-checking tool.
Sources
Furthermore, your reference to support your statements must be from a reliable source, such as
textbooks, additional reading materials, and reference books. However, many websites are not
reliable sources. Examples are Wikipedia.org, about.com, and ask.com. If you are not sure if a
reference is acceptable or not, please contact the lecturer.
Referencing & Citation
The Publication Manual of the American Psychological Association (APA) 6th ed. will serve as the
primary reference materials for all students. Therefore, all papers must be submitted in APA format.
The mechanics of student papers and work will be evaluated, as well as the content.
Attendance
Students are required to attend a minimum of 80% of all classes (which normally 12/15 sessions).
Other cases equating to an absence:
▪
▪
▪
Arriving to class late by 15 minutes at the beginning,
Arriving late by 5 minutes after the break
Leaving prior to the scheduled end time without the permission of the lecturer
If you are unable to attend any session, please let your lecturer know AND submit a request for
absence form to program administrator prior to the session.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
MPORTANT: Students will not be allowed to sit in the final examination if violating the above absence
rule.
Electronic devices are not allowed:
▪ Cell phones will be turned off or switched to vibrate mode before class starts.
▪ No phone calls or text messaging are allowed inside classroom during class time.
▪ Portable listening and/or music devices may not be operated in the classroom.
IMPORTANT: If you are in violation of these policies you will be excused from class and an absence
will be assessed.
Grades
Final marks and grades are subject to confirmation by the ISB Examinations Committee which may
adjust, modify or otherwise amend the marks and grades for the unit, as may be required by SIBT
policies. SIBT’s Examinations Committee has a set of guidelines on the distribution of grades across
the range from Fail to High Distinction. Final results will include a grade.
Grade
Range
Description
HD High Distinction 8.5 -10 Complete and comprehensive understanding of the unit
content; development of relevant skills to a
comprehensive level; demonstration of insight in
interpretation, analysis and intellectual initiative; and
achievement of all major and minor objectives of the unit.
D
Distinction
7.5-8.4 Very high level of understanding of the course unit;
development of relevant skills to a very high level;
demonstration of a very high level of interpretive and
analytical ability and intellectual initiative; and
achievement of all major and minor objectives of the unit.
CR
Credit
6.5-7.4 High level of understanding of unit content development
of relevant skills to a high level; demonstration of a high
level of interpretive and analytical ability; and
achievement of all major objectives of the unit; some
minor objectives not fully achieved.
P
Pass
5.0-6.4 Adequate understanding of most of the basic unit content;
development of relevant skills to a satisfactory level;
adequate interpretive and analytical ability; and
achievement of most of all the major objectives of the
unit; some minor objectives not achieved.
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
F
Fail
S
Satisfactory
W
Withdrawn
0-4.9 An unsatisfactory quality of performance or standard of
learning achievement. There was evidence of achievement
of desired learning outcomes below the passing standard.
5.0-10 Provides evidence of achievement of the learning
outcomes, within the context of a Pass/Fail unit.
Withdrawal from a unit prior to the academic census date.
This is NOT counted as failure but is an administrative
record of a student’s initial enrolment in this unit. It is not
included in GPA calculations.
WF Withdrawn Fail
Withdrawal from a unit after the academic census date
with academic penalty.
EX
Exempt
Recognition of prior learning resulting in an exemption
from undertaking the unit.
FA
Fail Absent
Required assessment tasks within the unit are not
completed and the student has not withdrawn. It is
included in the GPA calculation.
Note that your raw coursework and exam scores cannot be used directly to calculate your
standardized mark or to determine your final grade. The process of assigning grades involves
moderating the performance indicated by your raw scores against the academic standards.
Email etiquette
Your lecturers receive many emails each day. In order to enable them to respond to your emails
appropriately and in a timely fashion, students are asked to follow basic requirements of professional
communication.
Your emails should:
▪
▪
▪
Have a concise and descriptive title, including the class and name of the unit you are
enquiring about
Be clear about the intention of their emails
Use appropriate tone and language, proof-read what is written in the email before sending
it.
Students should also allow 3-4 working days for a response before following up. If the matter is
legitimately urgent, you may indicate “URGENT” in the email subject header.
Make an appointment: If your email request is complex and requires a lengthy response it may be
probably best to make an appointment with your lecturer/instructor to meet in person.
Student behaviour guidelines
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ACC201 PRINCIPLES OF ACCOUNTING
TRIMESTER 2. 2023-2024
Everyone must behave professionally. Students are expected to demonstrate respect for teacher and
fellow students at all times. Behaviour that is disruptive to a positive learning environment reported
to the teacher will result in a warning on the first instance; the second instance might result in a
failing grade along with expulsion from the school.
Unacceptable behaviors can be:
▪
▪
▪
▪
▪
Cheating on an exam
Collaborating with others on work to be presented, if contrary to the stated rules of the
course
Submitting, if contrary to the rules of the course, work previously submitted in another
course
Knowingly and intentionally assisting another student in any of the above actions, including
assistance in an arrangement whereby work, classroom performance, examination, or other
activity is submitted or performed by a person other than the student under whose name
the work is submitted or performed
Plagiarising
IMPORTANT:
▪
▪
First violation will result in a grade ZERO (0%) for that assignment.
Second violation will result in a failing course grade.
Disability support services
Students with disabilities are advised that accommodations and services are available at UEH-ISB. It
is the student's responsibility to contact UEH-ISB office and submit appropriate documentation prior
to receiving such services.
Additional information
This unit guide may be revised at the discretion of the Academic Department with approval from
Program Academic Director and School Academic Committee where appropriate.
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