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:	Assoc.Prof.Dr. Alba Kruja akruja@epoka.edu.al , Thursday 09:00-11:00
Second Course Lecturer(s) (name, surname, academic title/scientific degree, email address and signature) and Office Hours:	NA
Teaching Assistant(s) and Office Hours:	NA
Language:	English
Compulsory/Elective:	Compulsory
Study program: (the study for which this course is offered)	Bachelor in Business Informatics (3 years)
Classroom and Meeting Time:	E 313 Monday 08:45 - 11:30
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
Attendance Requirement:	yes
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 consists of three basic activities - it identifies, records, and communicates the economic events of an organization to interested users.
2	Accounting “links” decision makers with economic activities and with the results of their decisions.
3	International accounting and financial reporting standards (IAS/IFRS) is an European and British system which is rapidly gaining acceptance as many countries require the use of it, or some form of modified IFRS and some other countries, have decided to adopt IFRS, or some modified form of it, in the future.
4	Generally Accepted Accounting Principles is a rule-based American system and foreign subsidiaries of USA multinationals use GAAP. By the same time, many other foreign companies attracted to international capital markets have adopted it.
5	Statement of Financial Position reports the assets, liabilities, and equity at a specific date. Lists assets at the top, followed by liabilities and equity. Total assets must equal total liabilities and equity. Is a snapshot of the company’s financial condition at a specific moment in time (usually the month-end or year-end).
6	Assets are resources a business owns. Provide future services or benefits. Cash, Inventory, Equipment, etc.
7	Liabilities are claims against assets (debts and obligations). Creditors - party to whom money is owed. Accounts payable, Notes payable, etc.
8	Equity are ownership claim on total assets. Referred to as residual equity. Share capital-ordinary and retained earnings.
9	Income Statement reports the profitability of the company’s operations over a specific period of time. Lists revenues first, followed by expenses. Shows net income (or net loss). Does not include investment and dividend transactions between the shareholders and the business.
10	Retained Earnings Statement reports the changes in retained earnings for a specific period of time. The time period is the same as that covered by the income statement. Information provided indicates the reasons why retained earnings increased or decreased during the period.

COURSE OUTLINE

Week	Topics
1	Review Syllabus, Introduction to Accounting Course
2	Basic Accounting Equation and Financial Statements - Ch.1 - pp.2-49 - Learning Objectives After studying this chapter, you should be able to: Explain what accounting is. Identify the users and uses of accounting. Understand why ethics is a fundamental business concept. Explain accounting standards and the measurement principles. Explain the monetary unit assumption and the economic entity assumption. State the accounting equation, and define its components. Analyze the effects of business transactions on the accounting equation. Understand the four financial statements and how they are prepared.
3	The Recording Process - Ch.2 - pp. 50-62 - Learning Objectives After studying this chapter, you should be able to: [1] Explain what an account is and how it helps in the recording process. [2] Define debits and credits and explain their use in recording business transactions. [3] Identify the basic steps in the recording process. [4] Explain what a journal is and how it helps in the recording process.
4	The Trial Balance and its Limitations - Ch.2 - pp. 63-93 - Learning Objectives After studying this chapter, you should be able to: [1] Explain what a ledger is and how it helps in the recording process. [2] Explain what posting is and how it helps in the recording process. [3] Prepare a trial balance and explain its purposes.
5	Adjusting the Accounts - Ch.3 - pp. 96-109 - Learning Objectives After studying this chapter, you should be able to: Explain the time period assumption. Explain the accrual basis of accounting. Explain the reasons for adjusting entries. Identify the major types of adjusting entries.
6	Adjusting the Accounts - Ch.3 - pp. 110-121- Learning Objectives After studying this chapter, you should be able to: Prepare adjusting entries for deferrals. Prepare adjusting entries for accruals. Describe the nature and purpose of an adjusted trial balance.
7	Completing the Accounting Cycle - Ch.4 - pp. 164-172 - Learning Objectives After studying this chapter, you should be able to: Explain the process of closing the books. Describe the content and purpose of a post-closing trial balance. State the required steps in the accounting cycle. Explain the approaches to preparing correcting entries.
8	Review Before Midterm Exam
9	Midterm Exam
10	Accounting for Merchandising Operations - Ch.5 - pp. 212-226 - Learning Objectives After studying this chapter, you should be able to: Identify the differences between service and merchandising companies. Explain the recording of purchases under a perpetual inventory system. Explain the recording of sales revenues under a perpetual inventory system. Explain the steps in the accounting cycle for a merchandising company.
11	The Classified Statement of Financial Position - Ch.4 - pp. 173-182 - Learning Objectives After studying this chapter, you should be able to: Identify the sections and prepare a classified statement of financial position.
12	Multiple Step Income Statement - Ch.5 - pp. 226-232 - Learning Objectives After studying this chapter, you should be able to: Prepare an income statement for a merchandiser and analyze each step of the income statement.
13	Accounting Information Systems - Ch.7 - pp. 314-359 - Study Objectives After studying this chapter, you should be able to: [1] Identify the basic concepts of an accounting information system. [2] Describe the nature and purpose of a subsidiary ledger. [3] Explain how companies use special journals in journalizing. [4] Indicate how companies post a multi-column journal.
14	Review before Final Exam

Prerequisite(s):	NA
Textbook(s):	Accounting Principles, 13th Edition by Weygandt, Kieso, Kimmel:Wiley, 2018 Financial Accounting IFRS, 4th Edition by Donald E. Kieso, Paul D. Kimmel, Jerry J. Weygandt, Wiley, 2018
Additional Literature:	Introduction to Accounting: An Integrated Approach, 4th Edition by Wild:McGraw-Hill, Inc., 2004 Parimet Bazë të Kontabilitetit, Sotiraq M. Dhamo, 2010
Laboratory Work:	NA
Computer Usage:	NA
Others:	No

COURSE LEARNING OUTCOMES

1	Analyze the Accounting Equation and the interaction of its elements.
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	Prepare and analyze the Multiple-Step Income Statement and Classified Statement of Financial Position
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 Business Informatics (3 years) Program
1	Identify activities, tasks, and skills in management, marketing, accounting, finance, and economics.	5
2	Apply key theories to practical problems within the global business context.	5
3	Demonstrate ethical, social, and legal responsibilities in organizations.	4
4	Develop an open minded-attitude through continuous learning and team-work.	5
5	Integrate different skills and approaches to be used in decision making and data management.	4
6	Combine computer skills with managerial skills, in the analysis of large amounts of data.	3
7	Provide solutions to complex information technology problems.	2
8	Recognize, analyze, and suggest various types of information-communication systems/services that are encountered in everyday life and in the business world.	3

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	35
Final Exam	1	50
Other	1	15
	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

https://epoka.edu.al/mat/codes/01-Code%20of%20Ethics.pdf