|
-
BUA 1101 – Principles of Accounting I.
Classes Wednesdays, 8.30-11.45 a.m.
Professor Gergely Mohl
Contact information gergely.mohl@gmail.com Landline: +36-1-482-5151
Availability I am available before and after the classes.
Course Description
The primary objective of accounting is to provide useful information to support decision making. Therefore the general aim of the course is to create and develop the ability of the participants to use and utilise financial accounting information in the framework of their own economic activity. At the end of the course the participants should be able to prepare basic financial statements, and to interpret and understand the effects of certain transactions on the financial statements. Theory will be illustrated through numerous examples and if suitable real life financial statements are used.
The course also intends to create a solid basis for next semester' s managerial accounting subject (Principles of Accounting II.).
Participants will be required to be active in their learning.
Required texts
-
Williams – Haka – Bettner – Carcello: Financial & Managerial Accounting, 15th edition McGraw-Hill 2010 (14th edition also acceptable; earlier editions are NOT recommended due to numerous and major changes)
-
Handouts during the semester
Recommended readings
-
Thomas A. King: More Than a Numbers Game – A Brief History of Accounting, Wiley 2006
-
International Financial Reporting Standards (IFRSs), IASB 2012
-
Website of the course www.actr.hu/mcdaniel/mcdaniel.html
Login name and password will be told you during the first class.
You may find in this syllabus and the class PP presentations (in advance) uploaded there.
Assessment & grading
Students may choose the form of assessment to be applied.
It is either
-
Class participation (10 pts)
-
A series of six closed book in-class tests (90 pts)
-
Extra home assignment(s) (up to 20 pts)
or
-
Class participation (10 pts)
-
Final exam (90 pts)
-
Extra home assignment(s) (up to 20 pts)
-
Every student will be offered a grade at the end of the semester based on his/her quizzes' results and class participation. However, students are free to irrevocably drop the points of the quizzes and sit a CLOSED BOOK final exam instead during the final exams' week.
(The mid-term grade is based on class participation and the result of already written quizzes and extra home assignments (if any).)
Missed in-class quizzes may only be made up after presenting a certificate issued by a G.P.
Extra home assignments for extra points may or may not occur during the semester.
Grading system – 100 points total
An eased' McDaniel College scale is applied:
|
96-100
|
A+
|
|
91-95
|
A
|
|
87-90
|
A-
|
|
83-86
|
B+
|
|
79-82
|
B
|
|
75-78
|
B-
|
|
71-74
|
C+
|
|
67-70
|
C
|
|
63-66
|
C-
|
|
59-62
|
D+
|
|
55-58
|
D
|
|
51-54
|
D-
|
|
< 51
|
F
|
Class participation and the importance of continuous learning
Informed, critical exchange of ideas forms the core of the College learning experience. It should occur in every classroom. Besides that accounting courses are described as "difficult" and "extremely demanding" by the vast majority of students. Based on previous experience almost the only way to master an accounting course is continuous (i.e. week after week) learning. You are therefore encouraged to prepare hard for the series of in-class tests to achieve a satisfying grade.
In-class participation plays an important role in the final determination of your course grade too. Firstly it is essential because of the in-class tests.
Secondly examples solved during the classes are essential to understand the topic being discussed and they also make your preparation for the tests or final exam a lot easier. You are also expected to share ideas during discussions and you are wholeheartedly encouraged to ask questions when you do not understand something.
Participation implies attendance; absences will be noted and will adversely affect your final participation grade.
Creation of a proper classroom environment requires above all else respect for fellow students. We all ask that you don' t be late; that you don' t surf the internet on your laptop or otherwise distract everyone else during class; that you turn off your cell phone and that you do not check for messages during class. Likewise, you can expect me to end class on time, and to engage you in discussion.
Honour code
You are expected without question to adhere completely to the McDaniel College academic honour code. Any violation will result in a zero for the given assignment and other possible sanctions.
Course policies
You may be absent anytime, no questions asked – you need not explain the cause of your absence. Unexcused absences, however, may lead to a loss of points from your class participation points. You may receive 10 points for 10 occasions, 1 point for each. Please note that we meet for two consecutive sessions per week – appearance point goes for being present at both of them.
Do not be late – a tardy arrival will be counted as half an absence.
Semester schedule/topics covered
|
Week
|
Date
|
Topic
|
Textbook
|
|
1
|
Sept 5
|
Introduction;
The basics of accounting
|
Chapter 1, 2
|
|
2
|
Sept 12
|
The basics of bookkeeping
|
Chapter 3
|
|
3
|
Sept 19
|
IN-CLASS TEST 1;
Accruals and deferrals
|
Chapter 4
|
|
4
|
Sept 26
|
NO ACCOUNTING CLASS
|
-
|
|
5
|
Oct 3
|
Preparation of financial statements
|
Chapter 5
|
|
6
|
Oct 10
|
IN-CLASS TEST 2;
Practicing
|
Comprehensive Problem 1
|
|
7
|
Oct 17
|
Basics of inventories
|
Chapter 6
|
|
8
|
Oct 24
|
Inventories
|
Chapter 8
|
|
9
|
Oct 31
|
IN-CLASS TEST 3;
Financial assets
|
Chapter 7
|
|
10
|
Nov 7
|
Plant and intangible assets
|
Chapter 9
|
|
11
|
Nov 14
|
IN-CLASS TEST 4;
Liabilities and equity
|
Chapter 10, 11
|
|
12
|
Nov 21
|
Income and changes in retained earnings
|
Chapter 12
|
|
13
|
Nov 28
|
IN-CLASS TEST 5;
Practicing
|
-
|
|
14
|
Dec 5
|
Statement of cash flows
|
Chapter 13
|
|
15
|
Dec 12
|
IN-CLASS TEST 6;
Practicing, mock examination
|
Comprehensive Problem 3
|
Textbook: Williams – Haka – Bettner – Carcello book 15th edition
Schedule might be subject to change based on previous experience of students.
Week of Dec 13 – Dec 19: Final exam – Time to be announced
-
|
|
|
