A study of analyzing, classifying, and recording business transactions in a manual and computerized environment. Emphasis on understanding the complete accounting cycle and preparing financial statements, bank reconciliations, payroll, and budgeting. Preparation of financial statements for both a merchandising and manufacturing company. This course is taught from a users' point of view. It is a survey of both financial and managerial accounting.

The course uses an OER textbook that you can access from Blackboard.

Table of Contents
Chapter 1: Introduction to Accounting
Chapter 2: Analyzing, Posting, and Adjusting Transactions
Chapter 3: Receivables
Chapter 4: Accounting for a Merchandising Company
Chapter 5: Financial Statements
Chapter 6: Internal Control and Cash
Chapter 7: Long-term Assets
Chapter 8: Liabilities
Chapter 9: Other business entities: Partnerships and Corporations
Chapter 10: The Role of Accounting in the Basic Management Process
Chapter 11: Job Order Costing
Chapter 12: Cost Behavior and CVP Analysis
Chapter 13: Budgeting
Chapter 14: Differential Analysis: Relevant Costs

Course Learning Objectives:

The course objectives are the overall mastery concepts of the course; here are the following 7 core concepts:

1. Prepare a multiple-step income statement, classified balance sheet and statement of earnings.
2. Analyze and record the effects of common business transactions.
3. Understand Accounting software programs.
4. Understand the different business entities.
5. Apply elements of the conceptual framework to accounting issues.
6. Explain the components of the statement of cash flows.
7. Understanding managerial concepts.

SCHEDULE AND ASSIGNMENTS:

*** Last day to withdraw: November 21st. ***

Basis for Grading:

The completion of the learning outcomes for this course will be assessed by the following independent activities:

• OHM Activities: These assignments are mastering the learning objectives in each chapter. Students will watch the chapter videos via Blackboard using the links in the Course Schedule. The average time to complete these assignments is roughly 4 to 6 hours; use this as a gage for comprehension, if you are within the range, you’re understanding the material, if you are out of the range, use the resources of your textbook and videos available in Blackboard.

• Budget Problem: This assignment will be a complete budget assignment from chapter 13; this is a very demanding problem. I suggest when we start the chapter, start working on the Budget Problem.
• Comprehensive Problem. This will be a problem that will take into consideration chapters 1-9. You will complete the assignment in GNU cash program and submit it to Blackboard. This will show your proficiency in using an Accounting program and your understanding of the Accounting Equation.

• Exams: The exams will be a combination of multiple-choice questions and workout problems. The exams will be open notes and open book. DO NOT MISS EXAMS.  If you must miss an exam, please contact me by emailing your request to lrobert2@austincc.edu to make arrangements.  You must take ALL the exams to receive a final grade in the course. All exams will be proctored with time.

Quizzes: There will be quizzes to take that will consist of terminology, matching, and simple calculations. The quizzes will be proctored with time.