BA 230 Principles of Financial Accounting

GENERAL INFORMATION:

Course title: BA 230 Principles of Financial Accounting

Campus: National

Initiator: Rominger James Maddegodagedara and Marlene Mangonon

Date: June 1, 2021

Course description

Understanding the foundation of accounting, concepts and principles of accounting, and treatment of business transactions will be established. The focus of the course is on journalizing accounting transactions, posting entries in the general ledger, preparing the basic financial statements and accounting for current assets and current liabilities, and financial statement analysis. The student will present financial statements based on a case study.

COURSE HOURS/CREDITS:

	Hours per Week		No. of Weeks		Total Hours		Semester Credits
Lecture	3	x	16	x	48	=	3
Laboratory		x		x		=
Lecture/Lab		x		x		=
Workshop		x		x		=
			Total Semester		Credits	=	3

PURPOSE OF COURSE:

[X] Degree requirement

[ ] Degree elective

[ ] Certificate

[ ] Other

PREREQUISITES:

BA111 Business Mathematics

PSLOS OF OTHER PROGRAMS THIS COURSE MEETS:

PSLO#	Program
N/A

CAC Chair signatures:________ Date recommended:_______

VPIA signature:_________ Date approved:________

1) INSTITUTIONAL STUDENT LEARNING OUTCOMES

[ ]	1. Effective oral communication: capacity to deliver prepared, purposeful presentations designed to increase knowledge, to foster understanding, or to promote change in the listeners’ attitudes, values, beliefs, or behaviors.
[ ]	2. Effective written communication: development and expression of ideas in writing through work in many genres and styles, utilizing different writing technologies, and mixing texts, data, and images through iterative experiences across the curriculum.
[X]	3. Critical thinking: a habit of mind characterized by the comprehensive exploration of issues, ideas, artifacts, and events before accepting or formulating an opinion or conclusion.
[X]	4. Problem solving: capacity to design, evaluate, and implement a strategy to answer an open-ended question or achieve a desired goal.
[ ]	5. Intercultural knowledge and competence: a set of cognitive, affective, and behavioral skills and characteristics that support effective and appropriate interaction in a variety of cultural contexts.
[ ]	6. Information literacy: the ability to know when there is a need for information, to be able to identify, locate, evaluate, and effectively and responsibly use and share that information for the problem at hand.
[ ]	7. Foundations and skills for life-long learning: purposeful learning activity, undertaken on an ongoing basis with the aim of improving knowledge, skills, and competence.
[X]	8. Quantitative Reasoning: ability to reason and solve quantitative problems from a wide array of authentic contexts and everyday life situations; comprehends and can create sophisticated arguments supported by quantitative evidence and can clearly communicate those arguments in a variety of formats.

2) PROGRAM STUDENT LEARNING OUTCOMES (PSLOs): The student will be able to:

Apply skills concepts and techniques in main functional areas of business and accounting;
Interpret and use quantitative techniques in solving business problems and decision-making using technological tools;
Develop and apply effective intercultural oral and written communication skills appropriate for business; and
Recognize and assess basic legal, environmental, and ethical challenges confronting businesses in general.

3) COURSE STUDENT LEARNING OUTCOMES (CSLOs)(General): The student will be able to:

Describe the nature of accounting, basic accounting concepts and principles;
Perform accounting functions and complete the accounting cycle for a business; and
Examine the importance of effective and ethical internal control and the management of current assets and liabilities.

4) COURSE STUDENT LEARNING OUTCOMES (CSLOs)(Specific): The student will be able to:

CSLO (General) 1: Describe the nature of accounting, basic accounting concepts and principles.
Student Learning Outcome (specific)	ISLO	PSLO	Assessment Strategies
1.1 Discuss the nature of accounting.	4	2	The student will complete an assignment graded with a rubric focused on discussing the nature of accounting.
1.2 Discuss the Generally Accepted Accounting Principles (GAAP).	4	2	The student will complete an assignment graded with a rubric focused on discussing the GAAP.
1.3 Use the accounting equation to identify and classify accounting elements in business transactions.	4, 8	2	The student will complete an assignment graded with a rubric focused on using the accounting equation to identify and classify accounting elements in business transactions.
CSLO (General) 2. Perform accounting functions and complete the accounting cycle for a business.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
2.1 Demonstrate how to journalize business transactions.	4, 8	2	The student will do an individual project graded with a rubric focused on demonstrating how to journalize business transactions.
2.2 Demonstrate how to post accounting entries to standard form of ledger accounts.	4, 8	2	The student will do an individual project graded with a rubric focused on demonstrating how to post accounting entries to standard form of ledger accounts.
2.3 Demonstrate how to adjust accounting entries at the end of an accounting period.	4, 8	2	The student will do an individual project graded with a rubric focused on demonstrating how to adjust accounting entries at the end of an accounting period.
2.4 Prepare standard forms of basic financial statements.	4, 8	2	The student will do an individual project graded with a rubric focused on preparing the standard forms of basic financial statements.
CSLO (General) 3. Examine the importance of effective and ethical internal control and the management of current assets and liabilities.
Student Learning Outcomes (specific)	ISLO	PSLO	Assessment Strategies
3.1 Identify the risks associated with the handling of cash, and inventories.	3*, 4	2	The student will complete an assignment graded with a rubric focused on identifying the risks associated with the handling of cash, and inventories.
3.2 Identify the importance of managing receivables, current liabilities and payroll effectively and ethically.	3, 4	2	The student will complete an assignment rubric focused on identifying the importance of managing receivables, current liabilities and payroll effectively and ethically.

5) COURSE CONTENT:

The Nature of Accounting
Analyzing and Recording Business Transactions
Preparing Financial Statements and completing the accounting cycle for Service and Merchandising Businesses
Internal Control and Accounting for Cash, Receivables, inventories, current liabilities and payroll
Financial statement analysis

6) METHOD(S) OF INSTRUCTION:

[X] Lecture [ ] Cooperative learning groups

[ ] Laboratory [ ] In-class exercises

[ ] Audio visual [ ] Demonstrations

[X] Other –Learning Management System

7) REQUIRED TEXT(S) AND COURSE MATERIALS:

Book Title: Warren, C., et al. Accounting.28th ed., Cengage Learning, 2020 (or most recent edition).

Digital resources: Learning Management System(LMS) - Cengage, MindTap (or relevant and updated available LMS).

Computer with internet access

Texas Instruments Business Analyst II Calculator

8) REFERENCE MATERIALS:

Needles, Belverd Earl., et al. Principles of Accounting. Cengage Learning, 2014.

Wild, John J., et al. Fundamental Accounting Principles. McGraw-Hill Education, 2018.

Weygandt, Jerry J., et al. Accounting Principles, 13th Ed., Wiley, 2018.

11) INSTRUCTIONAL COSTS: None

None

10) EVALUATION:

Summative evaluation is accomplished by having the student complete the examinations and final project (case study).

The student will need at least a grade of “C” to pass the course.

11) CREDIT BY EXAMINATION:

None

BA 230 Principles of Financial Accounting	Endorsed by CC: 04/05/2023
	Approved by VPIA: 04/27/2023

College of Micronesia - FSM

COMFSM Menu

BA 230 Principles of Financial Accounting

Hours per Week

No. of Weeks

Total Hours

Semester Credits