Course Overview

Introduction to Financial Accounting

This course provides a foundational understanding of financial accounting, focusing on the preparation, analysis, and interpretation of financial statements. Students will learn the principles and procedures necessary to record business transactions, apply accrual accounting concepts, and analyze financial information for decision-making.

• Primary Objective: To understand the accounting cycle and the preparation of financial statements.

• Secondary Objectives:

  • Analyze business transactions and their impact on financial statements.

  • Apply internal control procedures and understand cash management.

  • Evaluate receivables, inventory, and long-term assets.

  • Understand liabilities, stockholders' equity, and the statement of cash flows.

  • Interpret and analyze financial statements for business decisions.

Course Topics and Structure

Main Topics Covered

• Ch. 1: The Financial Statements – Introduction to the four basic financial statements: Balance Sheet, Income Statement, Statement of Retained Earnings, and Statement of Cash Flows.

• Ch. 2: Transaction Analysis – Understanding the accounting equation and how transactions affect financial statements.

• Ch. 3: Accrual Accounting and Income – Differentiating between cash and accrual accounting; recognizing revenues and expenses.

• Ch. 4: Internal Control and Cash – Principles of internal control and cash management.

• Ch. 5: Receivables and Revenue – Accounting for accounts receivable and revenue recognition.

• Ch. 6: Inventory and Cost of Goods Sold – Inventory valuation methods and calculation of cost of goods sold.

• Ch. 7: Plant Assets, Natural Resources, and Intangibles – Depreciation, amortization, and asset management.

• Ch. 8: Current and Contingent Liabilities – Accounting for short-term obligations and contingent liabilities.

• Ch. 9: Long-Term Liabilities – Bonds, notes payable, and long-term debt.

• Ch. 10: Stockholders' Equity – Equity transactions, dividends, and stock issuance.

• Ch. 11: The Statement of Cash Flows – Preparation and analysis of the statement of cash flows.

• Ch. 12: Financial Statement Analysis – Ratio analysis and interpretation of financial data.

Course Materials

Required Textbook

• Financial Accounting, 11th Edition (Harrison, Horngren, Thomas, Tietz) – Pearson MyLab Accounting (MLA) digital access required.

• Additional resources and assignments are provided via Canvas and MyLab Accounting.

Grading and Assessment

Components and Weighting

Grading Scale

• A: 93-100%

• A-: 90-92%

• B+: 87-89%

• B: 83-86%

• B-: 80-82%

• C+: 77-79%

• C: 73-76%

• C-: 70-72%

• D+: 67-69%

• D: 63-66%

• D-: 60-62%

• F: Below 60%

Course Schedule

Weekly Breakdown

Course Policies and Recommendations

Success Strategies

• Stay current with course materials and assignments.

• Attend all scheduled classes and participate actively.

• Complete all assigned readings and homework on time.

• Utilize office hours and communicate with the instructor and TA for support.

• Respect academic integrity and university policies.

University Policies

• Academic honesty is strictly enforced.

• Accommodations are available for students with disabilities.

• Diversity and inclusion are valued in the classroom environment.

Additional Info

• Course includes online and in-person components.

• Quizzes and exams may be taken using personal notes.

• Macrocoding module is required for all students.