NORTH SOUTH UNIVERSITY
SCHOOL OF BUSINESS, BBA Program
Course Title: Introduction to Financial Accounting
Course Code: ACT 201
Semester: Summer 2014
Section: 16 & 22
Class Time: Sec-16: MW 4.20PM – 5.50PM (NAC-505)
Sec-22: MW 1.00PM – 2.30 PM (NAC-503)
Instructor: Nazmun Nahar (NNh)
Office: NAC 869
Office Hours: ST 2.30 PM–4.00 PM, MW 2.30 PM–4.00 PM
E-Mail: nazmun87@gmail.com
Website: www.nazmun.weebly.com
COURSE OBJECTIVE & DESCRIPTION:
An introduction to accounting emphasizing how general purpose financial statements communicate
information about the business corporation’s performance and position for users external to management.
Financial Accounting is the information system that identifies, records, and communicates to various stakeholders the economic events of an organization. Without knowing how to interpret information coming
from the accounting system, managers cannot correctly evaluate how well their company is doing and take
a decision about the best way to make their company grow in the future. Lenders and investors cannot
make informed decisions about how to allocate their funds in the absence of a comprehensive and correct
accounting information system. The aim of this course is to provide students with an understanding of the
basic concepts, principles, procedures and techniques underlying the accounting process so as to equip
them with a foundation for studies of other accounting courses in the degree program.
Text Book: Accounting Principles (9th edition) by Kieso, Kimmel and Weygandt
Course Contents:
Chapter 1: Accounting in Action
- Definition of Accounting
- The Building Blocks of Accounting
- Basic Accounting Equation
- Financial Statement
Chapter 2: The Recording Process
- The Account
- Steps in Recording Process
- The use of Journal & Ledger Accounts
- The Trial Balance
Chapter 3: Adjusting the Accounts
- The Timing Issues
- The Basics of Adjusting Entries
- Adjusted Trial Balance and Financial Statement
Chapter 4: Completing the Accounting Cycle
- The Use of Worksheet
- The Closing Entries and Post Closing Trial Balance
- Summary of the whole Accounting Cycle
Chapter 5: Accounting for Merchandising Operations
- Introduction to Merchandising Businesses
- The recording of Purchase Transactions – Periodic vs. Perpetual Method
- The recording of Sales Transactions – Periodic vs. Perpetual Method
- Completion of Accounting Cycle
- Forms of Financial Statements for Merchandising Businesses
Chapter 6: Inventories
- Classification of Inventories
- Determination of Inventory Quantity and Ownership
- Inventory Costing – The use of Different Methods
- The Impacts of Different Inventory Costing Methods
- Inventory Errors and Their Impacts
- Statement Presentation and Analysis
Chapter 8: Internal Control and Cash
- Bank Statements
- Reconciliation of Bank Statement
Chapter 9: Accounting for Receivables
- Direct Write-Off Method
- Allowance Method
Chapter 10: Plant Assets, Natural Resources and Intangible Assets
- Plant Assets: Cost, Depreciation and Disposal Methods
- Natural Resources: Cost and Depreciation Methods
- Intangible Assets: Cost and Depreciation Methods
Chapter 17: Statement of Cash Flow
- The Importance of Cash Flow Statement
- Formats and Methods
- Interpretation of The Statement
- Free Cash Flow
Chapter 18: Financial Statement Analysis
- Horizontal Analysis
- Vertical Analysis
- Ratio Analysis
Syllabus for Exams:
Exam
Mid-Term 1
Mid-Term 2
Final Exam
Chapters
Ch. 1, 2, 3 & 4
Ch. 5, 6 & 9
Ch. 8, 10, 17 & 18
Marks Allocation:
Class Attendance
Assignments
Quiz
Midterm 1
Midterm 2
Final Exam
Total
5%
10%
15%
20%
25%
25%
100%
Important Note:
This course outline is tentative and the instructor has the right to modify it depending on the performance of
the class.
Assignments:
Assignments play a key role for exam preparation. Students have to submit hand written assignments.
Assignments must be submitted in time. Late submission will result in deduction of marks. No assignment
would be accepted after three days of due date.
Special Instructions:
 Please be self responsible in collection of all the course materials and any updated notice in time
from the website www.nazmun.weebly.com.
 Students are required to bring textbook and calculator to every class. Most importantly, it is not
allowed to share anything during the exams/quizzes.
 Daily attendance is mandatory. Late attendance will cost you class attendance points. Students
missing more than 3 classes will not be given the class attendance points.
 Cell phones must be switched off during classes and exams.
 There will be no make-up exam in this course. If anybody fails to sit for any exam, s/he can sit for
comprehensive exam with the final exam.
 NSU rules will be applied regarding using unfair and unethical means (including cheating,
plagiarism) during exams/quizzes. Any academic misconducts will result in F grade for the course.
 Incomplete (I) will be given in the case where the student misses the final exam due to unavoidable
circumstances. But the students should inform the instructor before submitting the grade.
 Please consult and comply with the NSU code of conduct and guidelines offered by the BBA
program office.
Practice makes one perfect!
Good Luck and have a wonderful semester!