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Bae 1 - Financial Accounting and Reporting 1 Course Outline SY 2021 - 2022

This document outlines the course content for Financial Accounting and Reporting 1 over 10 weeks. It introduces fundamental accounting concepts like the accounting equation and double-entry system. It covers the accounting cycle for service and merchandising businesses, including journalizing, posting, adjusting entries, preparing financial statements, and closing entries. The course examines basic accounts, books of accounts, analyzing transactions, and preparing an unadjusted trial balance. It concludes with final exams in December.

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Antenorio Nestlyn Mae
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69 views2 pages

Bae 1 - Financial Accounting and Reporting 1 Course Outline SY 2021 - 2022

This document outlines the course content for Financial Accounting and Reporting 1 over 10 weeks. It introduces fundamental accounting concepts like the accounting equation and double-entry system. It covers the accounting cycle for service and merchandising businesses, including journalizing, posting, adjusting entries, preparing financial statements, and closing entries. The course examines basic accounts, books of accounts, analyzing transactions, and preparing an unadjusted trial balance. It concludes with final exams in December.

Uploaded by

Antenorio Nestlyn Mae
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BAE 1 - FINANCIAL ACCOUNTING AND REPORTING 1

COURSE OUTLINE
SY 2021 - 2022

I - Introduction to Accounting ( Week 1 - September 13)

 Definition of accounting
 Phases of Accounting
 Basic Purpose of Accounting
 Users of accounting information
 Common branches of accounting
 Forms of business organizations
 Types of business according to activities

II - Accounting concepts and principles (Week 2 - September 17)

 Basic accounting concept


 Accounting standards
 The conceptual framework for financial reporting

III - The accounting equation ( Week 3 - September 20 to 24)

 The basic accounting equation


 The expanded accounting equation
 Applications of the accounting equation

IV - Types of Major Accounts (Week 4 - September 27 to October 1)


 The account
 The five major accounts
 Chart of accounts
 Common account titles
 Balance sheet accounts
 Income statement accounts

V - Books of accounts and double entry system ( Week 5 - October 4 to 8)

 The books of accounts


 Journal
 Ledger
 Formats of the books of accounts
 Double entry system
 Normal balances of accounts
 Rules of debits and credits
 Ending balance of an account
 Contra and adjunct accounts
VI - Business transactions and their analysis ( Week 6- October 11 to 15)
 The accounting cycle
 Identifying and analyzing transactions and events
 Journalizing

MIDTERM EXAM (OCTOBER 18 - 23)


VII - Posting to the ledger ( Week 7 - October 18 to 22)

 Posting
 Preparing the unadjusted trial balance
 Types of trial balance
 Errors revealed by a trial balance
 Errors not revealed by a trial balance

VIII - Adjusting entries ( Week 8 - October 25 to 29)

 Adjusting entries
 Accruals of income and expense
 Recognition of depreciation expense
 Recognition of bad debt expense
 Real, nominal and mixed accounts
 Methods of initial recording of income and expense

IX - The accounting cycle of a service business ( Week 9 - November 1 to 5)

 The worksheet
 Financial statements
 Closing entries
 Post-closing trial balance
 Reversing entries

X - Accounting cycle of a merchandising business ( Week 10 - Nov to ___ )

 Inventory
 Inventory systems
 Gross profit
 T-account analysis
 Recording in the general and special journals
 Posting to the general and subsidiary ledgers
 The accounting cycle of a merchandising business

Final Exam - December 13 - 15, 2021

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