UoPeople Online Syllabus Repository (OSR)

BUS 1102: BASIC ACCOUNTING

Syllabus

Prerequisites: BUS 1101 Principles of Business Management.

Course Description: The Basic Accounting course introduces students to financial reporting and financial management concepts and practices. The primary focus of this course is the preparation, use, and analysis of general purpose financial statements in support of the capital market decision-making process. In addition, certain financial accounts concepts related to current assets will be covered.

Required Textbook and Materials: UoPeople courses use open educational resources (OER) and other materials specifically donated to the University with free permissions for educational use. Therefore, students are not required to purchase any textbooks or sign up for any websites that have a cost associated with them. The main required textbooks for this course are listed below and can be readily accessed using the provided links. There may be additionally required/recommended readings, supplemental materials, or other resources and websites necessary for lessons; these will be provided for you in the course's General Information and Forums area, and throughout the term via the weekly course Unit areas and the Learning Guides.

• Franklin, M., Graybeal, P., Cooper, D., Bean, L., Burt, I., Carr, S., Collins, D. T., Coram, S., Creech, K., Czyzewski, A., Gauci, M., Greenman, C., Haselkorn, M., Irujo, C., Johnson, C., Khanlarian, C., Lukshaitis, T., Luna, D., Nantz, B., … Woolley, D. (2022). Principles of accounting, volume 1: Financial accounting. OpenStax. https://openstax.org/details/books/principles-financial-accounting. The book can also be downloaded through this link: Principles of accounting, volume 1: Financial accounting
  

Software Requirements/Installation: No special requirements.

Learning Objectives and Outcomes:

By the end of this course students will be able to:

1. Explain how accounting information is used.
2. Complete journal entries using the accrual basis of accounting.
3. Explain the steps of the accounting cycle.
4. Prepare income statements, statements of owner's equity, and balance sheets using generally accepted accounting principles.
5. Illustrate accounting for cash, receivables, and inventories and merchandise transactions.

Course Schedule and Topics: This course will cover the following topics in eight learning sessions, with one Unit per week. The Final Exam will take place during Week/Unit 9 (UoPeople time).

Week 1: Unit 1 - Introduction to Principles of Financial Accounting

Week 2: Unit 2 - The Accounting Cycle: Analyzing and Recording Transactions

Week 3: Unit 3 - Completing the Accounting Cycle and Merchandise Inventory Systems

Week 4: Unit 4 - Accounting Information Systems and Internal Controls

Week 5: Unit 5 - Accounting for Receivables and Inventory

Week 6: Unit 6 - Long-Term Assets and Current Liabilities

Week 7: Unit 7 - Long-Term Liabilities and Statement of Cash Flows

Week 8: Unit 8 - Corporation Accounting and Partnership Accounting

Week 9: Unit 9 - Course Review and Final Exam

Learning Guide: The following is an outline of how this course will be conducted, with suggested best practices for students.

Unit 1: Introduction to Principles of Financial Accounting

• Read the Learning Guide and Reading Assignments
• Participate in the Discussion Assignment
• Complete and submit the Learning Journal
• Take and submit the Self-quiz

Unit 2: The Accounting Cycle: Analyzing and Recording Transactions

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment 
• Complete and the Learning Journal
• Take and submit the Self-quiz

Unit 3: Completing the Accounting Cycle and Merchandise Inventory Systems

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment 
• Complete and submit the Learning Journal
  
• Take and submit the Self-quiz
  
• Take the Graded Quiz

Unit 4: Accounting Information Systems and Internal Controls

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment 
• Complete and submit the Learning Journal
• Take and submit the Self-quiz

Unit 5:  Accounting for Receivables and Inventory

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
• Complete and submit the Learning journal
• Take and submit the Self-quiz
  

Unit 6: Long-Term Assets and Current Liabilities

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
• Complete and submit the Learning Journal
• Take and submit the Self-quiz
• Take the Graded Quiz

Unit 7: Long-Term Liabilities and Statement of Cash Flows.

• Read the Learning Guide and Reading Assignments 
• Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
• Complete and submit the Learning Journal
• Take and submit the Self-quiz

Unit 8: Corporation Accounting and Partnership Accounting

• Read the Learning Guide and Reading Assignments
• Participate in the Discussion Assignment (post, comment, and rate in the Discussion Forum)
• Complete and submit the Learning Journal
• Take and submit the Self-quiz
• Read the Unit 9 Learning Guide carefully for instructions on the Final Exam
• Take the Review Quiz

Unit 9: Course Review and Final Exam

• Read the Learning Guide and take the Review Quiz, if you haven't already done so
• Prepare for, take, and submit the Final Exam
• The Final Exam will take place during the Thursday and Sunday of Week/Unit 9 (UoPeople time); exact dates, times, and other details will be provided accordingly by your instructor

Course Requirements:

Discussion Assignments & Response Posts/Ratings
Some units in this course require that you complete a Discussion Assignment. You are required to develop and post a substantive response to the Discussion Assignment in the Discussion Forum. A substantive response is one that fully answers the question that has been posted by the instructor. In addition, you must extend the discussion by responding to at least three (3) of your peers’ postings in the Discussion Forum. In Unit 1 through Unit 4, your discussion posts will be assessed by your instructor. In Unit 5, you will assess three of your peers' discussion posts. Instructions for proper posting and rating (out of a 10-point scale) are provided inside the Discussion Forum for each week. Discussion Forums are only active for each current and relevant learning week, so it is not possible to contribute to the forum once the learning week has come to an end. Failure to participate in the Discussion Assignment by posting in the Discussion Forum and responding to peers as required may result in failure of the course.

Learning Journal
Learning Journal assignments are graded by your instructor. The grading rubric is listed under the assignment instructions. The grading rubric is a document that outlines the criteria that your instructor will use to grade your work. 

Quizzes
This course will contain three types of quizzes – the Self-Quiz, the Graded Quiz, and the Review Quiz. These quizzes may contain multiple choice, true/false, or short answer questions. The results of the Self-Quiz will not count towards your final grade. However, it is highly recommended that you complete the Self-Quiz to ensure that you have adequately understood the course materials. Along with the Reading Assignments, the results of the Self-Quiz should be used as part of an iterative learning process, to thoroughly cover and test your understanding of course material. You should use the results of your Self-Quiz as a guide to go back and review relevant sections of the Reading Assignments. Likewise, the Review Quiz will not count towards your final grade, but should also be used to assist you in a comprehensive review and full understanding of all course material, in preparation for your Final Exam. Lastly, the results of the Graded Quiz will count towards your final grade. 

Final Exam
The Final Exam will take place during the Thursday and Sunday of Week/Unit 9, following the completion of eight units of work. The format of the Final Exam is similar to that of the quizzes and may contain a combination of different question types. You will have one attempt to take the exam, and it will be graded electronically. Specific instructions on how to prepare for and take the Final Exam will be provided during Week 8 (located inside the Unit 9 Learning Guide). Final Exams must be taken without the use of course learning materials (both those inside and outside the course). If particular materials are allowed for use during the exam, these will be noted in the exam’s instructions.

Class Introductions
This section is your opportunity to introduce yourself to your classmates and create a vibrant learning community. By sharing your background, interests, and goals, you can create meaningful connections and discover commonalities with your peers

Course Forum
The Course Forum is the place to raise issues and questions relating to the course. It is regularly monitored by the instructors and is a good place to meet fellow students taking the same course. While it is not required to participate in the Course Forum, it is highly recommended.

Course Policies:

Grading Components and Weights
Each graded component of the course will contribute some percentage to the final grading scale, as indicated here:

Grading Scale
This course will follow the standard 100-point grading scale defined by the University of the People, as indicated here: