Introduction to Accounting I

Learning Outcomes

Upon successful completion of this course, students are expected to be able to: identify and explain the accounting cycle principle; apply the accounting cycle principle in one full cycle; produce the major financial statements especially Balance Sheet and Income Statement; apply appropriate accounting principles in recording and reporting company’s assets; produce appropriate financial recording and reporting for retail industry; prepare bank reconciliation.

Topics

This course is an introductory accounting course by providing techniques and procedures of identifying, recording, classifying, summarizing and reporting financial transactions. Students will learn to prepare financial statements in proper format. The course will also familiarize students with the basic interpretations of financial statements and introduce the conceptual framework of accounting. The materials given will include examples of real world business entities. Specific situations in the US and Indonesia will be taken into consideration in class discussion. Topics that will be covered include: Accounting in Action; The Recording Process; Adjusting the Account; Accounting Cycle Completion, Accounting for Merchandising Operation, Inventories, Accounting Information Systems, Internal Control and Cash, Accounting for Receivables, Plant assets and natural resources; and Intangible Assets.