business

Accounting 21

Instructor: Arif Ahmed

Phone: 310-233-4309

Course Description:

This course is designed to cover the first

half of Accounting I.

The student will learn the need for accounting system in business. Emphasis will be placed on fundamentals of double entry bookkeeping, preparation of trial balance, worksheets and simple financial statement of proprietorship.

A basic overview of current business practice is also provided.

Learning Outcomes for this course – student will:

Understand the role of accounting in business.

Learn the financial accounting concept in recording, summarizing and reporting business transactions.

Learn how to prepare financial statements.

Learn Generally Accepted Accounting Principles (GAAP) and its importance in business.

Learn how to evaluate accounting information from the perspectives of creditors, investors and users external to the business organization.

Learn how to use critical thinking in solving accounting problem.

Learn ethics in accounting.

Grading

Classroom Participation and home work: 5%

In class quizzes: 10%

Exam I: 20% (Chapter 1 and 2 of the text)

Exam II: 20% (Chapter 3 and 4 of the text)

Exam III: 20% (Chapter 5 and 6 of the text)

Final Exam: 25% (Comprehensive)

Total points: 100%

Grading Policy:

90-100% = A

80- 89% = B

70 – 79%= C

60- 69% = D

0 - 59% = F

Dropping the Class and Incompletes:
If students do not drop by the deadline, he or she will receive a letter grade.

See the Schedule of Classes for important drop dates.

There will be four exams given which include three examsand one comprehensive final exam. The three exams will consist of multiple choice questions and accounting problem solutions and will comprise the 60% of the grade. The comprehensive final exam will also consist of multiple choice questions and accounting problem solutions and will comprise the 25% of the semester grade. No other materials are permitted.

Homework willconsist of researching internet topics selected by instructor. There will be in class quizzes given at the end of class and home works and quizzes will comprise 15% of your grade.

Missed Exams: No make-up exams will be given without a valid written medical excuse.

Required text:

“Accounting”

by Warren, 2nd Edition

Supplementary materials provided by the instructor.

Student Resources