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INTRODUCTION TO ACCOUNTING I |
Course Code:
125
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ECTS Credits:
2 |
Semester:
1st |
Undergraduate |
Required |
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Hours:
2h/week |
Lectures:
2h/week |
Tutorials:
1h/week |
Language of the Course:
Turkish |
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Contact:
Hüseyin Mert |
Aims
and Objectives
The aim
of this course is to make students familiar with basic accounting
concepts and applications. By the end of the
course, students are expected to identify the role of the accounting
function in an enterprise, to use the concepts of the accrual basis of
accounting and to use accounting techniques for service and
merchandising businesses.
Course Contents
·
Introduction to financial accounting: Accounting information and user
groups, Generally Accepted Accounting Principles. Understanding business
transactions
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The
accounting equation. The business transaction of a service firm. The
financial statement of a service firm.
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Accounting cycle: Definition of the account and ledger. Rules of debit
and credit
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General
journal and recording in a journal. Summarizing business transactions,
trial balance
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Adjusting and correcting the accounts. Closing the accounts. Preparing
the balance sheet and income statement
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Accounting analysis in the merchandising firm. Acquiring assets from
stockholders, creditors or earning process
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Investing the resources: buying merchandise, transportation charges,
purchases returns and allowances
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Using
the resources: using money-type resource, merchandise, prepaid expenses,
plant and equipment
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Selling
the product: sales, return and allowances, collection of accounts
receivable
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Returning assets to stockholders and creditors: dividend debt payments.
Posting and summarizing process
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Adjustments: prepaid expenses, depreciation and plant and equipment,
expenses on credit, accrued revenues, unearned revenues
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Closing
the accounts. Preparing the financial statements: income statement,
statement of retained earnings, balance sheet.
Assessment Methods
Midterm examination (%40) and final examination (%60)
Text
Book / Recommended Reading
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Ümit Ataman, Genel Muhasebe
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