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:	M.Sc. Sidita Mema sreshketa12@epoka.edu.al , By appointment
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 Banking and Finance (3 years)
Classroom and Meeting Time:	NA
Code of Ethics:	Code of Ethics of EPOKA University Regulation of EPOKA University "On Student Discipline"
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	Assets, Liabilities, Owner's Eqiuty
2	Cash, Account Receivable, Inventory, Accounts Payable, Equipments, Notes Payable, Retained Earnings
3	Accruals, Deferrals
4	Accounting Cycle
5	Inventories and Cost of the Good Sold

COURSE OUTLINE

Week	Topics
1	Introduction to Syllabus
2	Chapter 1: Accounting in Action: Explain what accounting is. Identify the users and uses of accounting. Understand why ethics is a fundamental business concept. Explain generally accepted accounting principles and the cost principle. 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.
3	Chapter 2: The Recording Process: Explain what an accounts is and how it helps in the recording process. Define debits and credits and explain their use in recording business transactions. Identify the basic steps in the recording process. Explain what a journal and ledger are and how they help in the recording process. Explain what posting is and how it helps in the recording process. Prepare a trial balance.
4	Chapter 2: The Trial Balance and its Limitations: Prepare a trial balance. Understand its use and limitations.
5	Chapter 3: Adjusting the accounts: Explain the time period assumption. Explain the accrual basis of accounting. Explain the reasons for adjusting entries. Identify the major types of adjusting entries. Prepare adjusting entries for deferrals and accruals. Describe the nature and purpose of an adjusted trial balance.
6	Chapter 3 continued: Adjusting the accounts: Explain the time period assumption. Explain the accrual basis of accounting. Explain the reasons for adjusting entries. Identify the major types of adjusting entries. Prepare adjusting entries for deferrals and accruals. Describe the nature and purpose of an adjusted trial balance.
7	Chapter 4 : Completing the Accounting Cycle: Prepare a worksheet. 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. Identify the sections of a classified balance sheet.
8	Quiz 1+ Review for Midterm
9	MIDTERM EXAM
10	Chapter 4 continued: Completing the Accounting Cycle: Prepare a worksheet. 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. Identify the sections of a classified balance sheet.
11	Chapter 5: Accounting for Merchandising Operations: 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. Distinguish between a multiple-step and single-step income statement. Explain the computation and importance of gross profit.
12	Chapter 5: Accounting for Merchandising Operations: 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. Distinguish between a multiple-step and single-step income statement. Explain the computation and importance of gross profit.
13	Chapter 7: Accounting Information Systems: Identify the basic concepts of an accounting information system. Describe the nature and purpose of a subsidiary ledger. Explain how companies use special journals in journalizing.
14	Review for Final Exam

Prerequisite(s):	NA
Textbook(s):	Accounting Principles, 11th Edition by Weygandt, Kieso, Kimmel:Wiley, 2010
Additional Literature:	NA
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 Banking and Finance (3 years) Program
1	The students gain the ability to look at the problems of daily life from a broader perspective with an increased awareness of the importance of moral/ethical considerations and professional integrity in the workplace.	5
2	They develop their knowledge and understanding of banking and finance including concepts, theories, and analytical tools that serve both in national and international markets.	3
3	They gain an understanding of the role of financial management in business firms and the essentials of corporate finance and further develop their knowledge in the field.	3
4	They are able to apply valuation models to estimate the price of different financial assets, measure risk and describe the risk-return tradeoff.	2
5	They are provided with the knowledge and understanding of the regulatory framework and functioning of banking system and central banking as well as international banking system.	2
6	They are able to understand and use fundamental economic theories and tools to solve economic problems in banking and financial services industry.	3
7	They have the ability to develop and utilize accounting, financial and economic data as well as other information to solve different business problems by making use of basic mathematical and statistical models.	5
8	They are expected to develop their numerical and IT skills as well as knowledge of databases in order to address the significant development in the delivery and use of financial services known as FinTech.	2
9	They develop their ability to think critically, do research, analyze, interpret, draw independent conclusions, and communicate effectively, both individually and as part of a team.	4
10	They are provided with opportunities to acquire the necessary skills and competencies to develop professionalism in the banking and financial services industry or to move on to further study within the discipline.	4

COURSE EVALUATION METHOD

Method	Quantity	Percentage
Midterm Exam(s)	1	35
Quiz	1	10
Final Exam	1	50
Other	1	5
	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

The course to be followed by Financial Accounting 1 and 2