BUS 150, Introduction to Financial Accounting
Course Outline
Spring, 2012
INSTRUCTOR :
Stephen W. Merrill, CPA
313 Normal Hall
PH: 768-9405
e-mail : stephen.merrill@umpi.edu
Office Hours :
Tuesday
9:00 -11:00
Wednesday 9:00 – 11:00
And by appointment
COURSE DESCRIPTION :
Introduction to Financial Accounting is a course that covers the area of accounting serving
external users of financial information by providing them with general purpose financial
statements. The course begins with a focus on transaction analysis. Students will learn to
complete the accounting cycle. Transaction analysis, journal and ledger procedures, and financial
statement preparation will be covered. Also covered will be the activities of merchandising
entities with an emphasis on inventory valuation. Exercises will be demonstrated in class.
Solutions to assigned problems will be presented upon completion by students.
The computer component of the class will provide students with an understanding of accounting
software. Students will learn Peachtree accounting software by studying a sample company.
Students will then set up an accounting system for a simulated business of their own.
COURSE OBJECTIVES :
Upon successful completion of the course students will :
1. be able to record accounting information.
2. understand financial information.
3. be able to prepare financial statements.
4. be better prepared to advance in their academic area of concentration.
5. be familiar with computer accounting software
TEXT :
Optional : Financial Accounting Fundamentals, John J. Wild,
McGraw-Hill, Third edition.
Required : Computer Accounting with Peachtree Complete 2011 ed or newer. Note this
may be purchased on-line used at a significant savings. The software is available in the library
and in the computer labs, but you need the book to do the project. The software that comes with
the used book may or may not load in your computer. Buy it new or take a chance on used if
you want to use your own computer to complete the project. The project description is on
Blackboard.
GRADING :
Examinations (3)
Accounting software chapter tests ( 7 )
Accounting software project
40 %
40
20
100 %
CLASS SCHEDULE :
Week beginning Monday:
Tuesday
Thursday
1/16 Ch 1, Introduction, Accounting transactions
Continued
1/23 Ch 1, Continued, Ch 2, Accounting transactions
Continued
1/30
Continued
Ch 2 , Financial statements
2/06
2/13
Ch 3
2/20
Exam, Ch 2
Bellwether Garden Supply Co. Ch 1
Adjusting entries
Bellwether Garden Supply Co. Ch 1 test due
Ch 2 in class
Winter vacation
2/27
Ch 3
Adjusting entries,
Bellwether Garden Supply Co. Ch 2 test due
Ch 3 in class
3/05
Ch 3
Adjusting entries
Bellwether Garden Supply Co. Ch 3 test due
Ch 4 in class
Exam, Ch 3
Bellwether Garden Supply Co. Ch 4 test due
Ch 5 in class
3/12
3/19
Ch 4
Merchandising transactions
3/26
Spring Break
4/02
Ch 4 Merchandising transactions
4/09
Exam # 3, Ch 4
Bellwether Garden Supply Co. Ch 5 test due
Ch 6 in class
Bellwether Garden Supply Co. Ch 6 test due
Ch 7 in class
4/16
Bellwether Garden Supply Co. Ch 7 test due
begin accounting software project
Accounting software project, Ch 12 due
4/23
Accounting software project, Ch 13 due
4/30
Accounting software project, Ch 14 due
5/07
Accounting software project, Ch 15 due