COURSE INFORMATION Course Title: INTRODUCTION TO ACCOUNTING

Code	Course Type	Regular Semester	Theory	Practice	Lab	Credits	ECTS
BUS 132	B	2	3	0	0	3	5

Academic staff member responsible for the design of the course syllabus (name, surname, academic title/scientific degree, email address and signature)	NA
Main Course Lecturer (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	Dr. Albina Hysaj ahysaj@epoka.edu.al , Wednesday, 10:00-12:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Bachelor in Economics (3 years)
Classroom and Meeting Time:	E-B31/Wednesday 13:45-16:30
Teaching Assistant(s) and Office Hours:	NA
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	75% Mandatory attendance requirement.
Course Description:	This course is an introduction to the basic concepts, principles and standards underlying the financial accounting system. The course is designed to give students a thorough background in the basic accounting procedures used to operate a business such as analysing, classifying, and recording and reporting business transactions. The course emphasises a general understanding of the complete accounting cycle and the preparation of the basic financial statements.
Course Objectives:	This course aims to give the student a basic understanding of the theories, principles, and applications of accounting. Following an investigation of the accounting information system and accounting cycle, the course will deepen knowledge on the components of the balance sheet, using a double entry bookkeeping perspective. By the end of the course, students are expected be able to analyse and record business transactions and to prepare financial statements for service and merchandising companies.

BASIC CONCEPTS OF THE COURSE

1	Accounting: is an information system that identifies, records, and communicates financial information about a business.
2	Accounts: Basic units for accumulating and storing accounting data from similar transactions.
3	Accrual accounting: Recording transactions in the periods in which they occur, rather than in the periods in which cash is received or paid. Also called the matching rule.
4	Journal: A chronological record of all transactions; the place where transactions first enter the accounting records. Also called book of original entry.
5	Adjusting entries: Entries made to apply accrual accounting to transactions that span accounting periods.
6	Closing entries: Entries made at the end of an accounting period that set the stage for the next period by clearing temporary accounts of their balances and transferring them to the owner’s Capital account; they summarize a period’s revenues and expenses.
7	Deferral: The postponement of the recognition of an expense already paid or of revenue received in advance.
8	Depreciation: The portion of the cost of a long-term asset allocated to any one accounting period. Also called depreciation expense.
9	Double-entry system: The accounting system in which each transaction is recorded with at least one debit and one credit so that the total amount of debits equals the total amount of credits.
10	Financial statements: The primary means of communicating important accounting information to users. They include the income statement, statement of owner’s equity, balance sheet, and statement of cash flows.

COURSE OUTLINE

Week	Topics
1	Review of Syllabus: Introduction to the Course (This is an introductory lecture presenting students with the general rules, valuation methods, specific requirements, textbook and other learning materials, and the main chapters to be taught in this course).
2	Chapter 1: Accounting in Action (This chapter is focused on: Chapter Preview 35, 1.1 Accounting Activities and Users 37, 1.2 The Building Blocks of Accounting 41, 1.3 The Accounting Equation 46, 1.4 Analyzing Business Transactions 49, 1.5 The Four Financial Statements 56, 1.6 Career Opportunities in Accounting 61) (Pages 35-88).
3	Chapter 2: The Recording Process (This chapter is focused on: Chapter Preview 89, 2.1 Accounts, Debits, and Credits 91, 2.2 The Journal 96, 2.3 The Ledger and Posting 99, 2.4 The Trial Balance 110) (Pages 89-138).
4	Chapter 2 continuation: The Recording Process (This chapter is focused on: Chapter Preview 89, 2.1 Accounts, Debits, and Credits 91, 2.2 The Journal 96, 2.3 The Ledger and Posting 99, 2.4 The Trial Balance 110) (Pages 89-138).
5	Chapter 3: Adjusting the Accounts (This chapter is focused on: Chapter Preview 139, 3.1 Accrual-Basis Accounting and Adjusting Entries 140, 3.2 Adjusting Entries for Deferrals 146, 3.3 Adjusting Entries for Accruals 154, 3.4 Adjusted Trial Balance and Financial Statements 161, 3.5 Adjusting Entries for the Alternative Treatment of Deferrals 165, 3.6 Financial Reporting Concepts 168) (Pages 139-202).
6	Chapter 3 continuation: Adjusting the Accounts (This chapter is focused on: Chapter Preview 139, 3.1 Accrual-Basis Accounting and Adjusting Entries 140, 3.2 Adjusting Entries for Deferrals 146, 3.3 Adjusting Entries for Accruals 154, 3.4 Adjusted Trial Balance and Financial Statements 161, 3.5 Adjusting Entries for the Alternative Treatment of Deferrals 165, 3.6 Financial Reporting Concepts 168) (Pages 139-202).
7	Chapter 4: Completing the Accounting Cycle (This chapter is focused on: Chapter Preview 203, 4.1 The Worksheet 205, 4.2 Closing the Books 211, 4.3 The Accounting Cycle and Correcting Entries 218, 4.4 Classified Balance Sheet 221, 4.5 Reversing Entries 221) (Pages 203-262).
8	Quiz 1 and Review before Midterm
9	Midterm Exam
10	Chapter 4 continuation: Completing the Accounting Cycle (This chapter is focused on: Chapter Preview 203, 4.1 The Worksheet 205, 4.2 Closing the Books 211, 4.3 The Accounting Cycle and Correcting Entries 218, 4.4 Classified Balance Sheet 221, 4.5 Reversing Entries 221) (Pages 203-262).
11	Chapter 5: Accounting for Merchandising Operations (This chapter is focused on: Chapter Preview 263, 5.1 Merchandising Operations and Inventory Systems 265, 5.2 Recording Purchases Under a Perpetual System 269, 5.3 Recording Sales Under a Perpetual System 273, 5.4 The Accounting Cycle for a Merchandising Company 278, 5.5 Multiple-Step Income Statement and Classified Balance Sheet 281, 5.6 Merchandising Company Worksheet 286, 5.7 Periodic Inventory System 288) (Pages 263-320).
12	Chapter 5 continuation: Accounting for Merchandising Operations (This chapter is focused on: Chapter Preview 263, 5.1 Merchandising Operations and Inventory Systems 265, 5.2 Recording Purchases Under a Perpetual System 269, 5.3 Recording Sales Under a Perpetual System 273, 5.4 The Accounting Cycle for a Merchandising Company 278, 5.5 Multiple-Step Income Statement and Classified Balance Sheet 281, 5.6 Merchandising Company Worksheet 286, 5.7 Periodic Inventory System 288) (Pages 263-320).
13	Chapter 7: Accounting Information Systems (This chapter is focused on: Chapter Preview 375, 7.1 Overview of Accounting Information Systems 375, 7.2 Subsidiary Ledgers 380, 7.3 Special Journals 382) (Pages 375-420).
14	Review for Final Exam

Prerequisite(s):	NA
Textbook(s):	Accounting Principles by Weygandt, Kimmel, and Mitchell 14th Edition, Wiley (2020)
Additional Literature:	Principles of Accounting by Needles Jr, Powers, and Crosson, Cengage Learning (2014)
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Introducing students to accounting and it's basic accounting equation and financial statements
2	Determine by T-Account analysis where a transaction should be properly recorded.
3	Record transactions in the appropriate ledger accounts using the double-entry bookkeeping system.
4	Complete and analyze the accounting cycle for service and merchandising companies
5	Prepare and evaluate the Income Statement, Statement of Retained Earnings, Statement of Financial Position and Statement of Cash Flow.
6	Analyze the Accounting Equation and the interaction of its elements.
7	Appraise the role and contribution of accounting information system in the firm management and performance.

COURSE CONTRIBUTION TO... PROGRAM COMPETENCIES (Blank : no contribution, 1: least contribution ... 5: highest contribution)

No	Program Competencies	Cont.
Bachelor in Economics (3 years) Program

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	30
Quiz	1	10
Final Exam	1	50
Attendance		10
	Total Percent:	100%

ECTS (ALLOCATED BASED ON STUDENT WORKLOAD)

Activities	Quantity	Duration(Hours)	Total Workload(Hours)
Course Duration (Including the exam week: 16x Total course hours)	16	3	48
Hours for off-the-classroom study (Pre-study, practice)	16	3	48
Mid-terms	1	12	12
Assignments			0
Final examination	1	17	17
Other			0
Total Work Load:			125
Total Work Load/25(h):			5
ECTS Credit of the Course:			5

CONCLUDING REMARKS BY THE COURSE LECTURER