Module 1: The Accounting Framework
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Forms of organization
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Types of Accountants
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Generally accepted accounting principles (GAAP)
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The Conceptual Framework Fundamental characteristics and assumptions
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Qualitative characteristics
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Constraints on relevant and reliable information
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Elements of financial statements
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Controls in business
Text Reference: Joffe Chapter 3
Learning Outcomes: 1,2,3,4,5,6,7,8,9,10,11,12
Introduction Module (2%)
Chapter 3 Tutorial (1.5%)
Chapter 3 Quiz (1.5%)
Module 2: Financial Statements: Personal Accounting
Text Reference: Joffe Chapter 1
Learning Outcomes: 1,7
Chapter 1 Tutorial (1.5%)
Chapter 1 Quiz (1.5%)
Module 3: Linking Personal Accounting to Business Accounting
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Revenue recognition
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Expense recognition
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Analyzing transactions
Text Reference: Joffe Chapter 2
Learning Outcomes: 1,2,7
Chapter 2 Tutorial (1.5%)
Chapter 2 Quiz (1.5%)
Test 1 - 12%
Module 4: The Accounting Cycle: Journals and Ledgers
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Business transactions and source documents
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The accounting cycle introduced
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Journalizing and posting transactions
Text Reference: Joffe Chapter 4
Learning Outcomes: 1,2,7,9
Chapter 4 Tutorial (1.5%)
Chapter 4 Quiz (1.5%)
Module 5: The Accounting Cycle: Adjustments
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Chart of Accounts
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Trial Balance
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Adjusting entries
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Contra accounts
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Recording adjustments
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Adjusted Trial Balance
Text Reference: Joffe Chapter 5
Learning Outcomes: 1,2,7,9,8,10,11
Chapter 5 Tutorial (1.5%)
Chapter 5 Quiz (1.5%)
Module 6: The Accounting Cycle: Statements and Closing Entries
Text Reference: Joffe Chapter 6
Learning Outcomes: 1,2,7,9,8,10,11,12
Chapter 6 Tutorial (1.5%)
Chapter 6 Quiz (1.5%)
Test 2 - 15%
Module 7: Inventory: Merchandising Transactions
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Merchandising activities (sales and cost of sales)
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Gross margin ratio
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Multi-step Income Statement
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Recording inventory transactions
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Perpetual versus periodic inventory system
Text Reference: Joffe Chapter 7
Learning Outcomes: 1,2,5, 6, 7,9,8,10,11,12
Chapter 7 Tutorial (1.5%)
Chapter 7 Quiz (1.5%)
Module 8: Inventory Valuation
Text Reference: Joffe Chapter 8
Learning Outcomes: 1,2,5, 6, 7,9,8,10,11,12
Chapter 8 Tutorial (1.5%)
Chapter 8 Quiz (1.5%)
Module 9: Accounting Information Systems
Text Reference: Joffe Chapter 9
Learning Outcomes: 1,2,5,6 7,9,8,10,11,12
Chapter 9 Tutorial (1.5%)
Chapter 9 Quiz (1.5%)
Module 10: Cash Controls
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Internal control over cash
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Bank reconciliations
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Accounting for Petty Cash
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Ethics and cash transactions
Text Reference: Joffe Chapter 10
Learning Outcomes: 1,2,4, 7,9,8,10,11,12
Chapter 10 Tutorial (1.5%)
Chapter 10 Quiz (1.5%)
Module 11 : Payroll
Text Reference: Joffe Chapter 11
Learning Outcomes: 1,2,3, 7,9,8,10,11,12
Chapter 11 Tutorial (1.5%)
Chapter 11 Quiz (1.5%)
Module 12: Using Accounting Information: Cash Flow Identification and Financial Statement Analysis
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Identify the content of the Statement of Cash Flow
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Determine the inflow or outflow of cash classified by activity
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Identify the activity classification for a variety of transactions
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Analyze profitability, cash flow and management performance using ratio analysis
Text Reference: Joffe Chapter 12
Learning Outcomes: 1,2,3,4,5,6 7,9,8,10,11,12
Chapter 12 Tutorial (1.5%)
Chapter 12 Quiz (1.5%)
Final Exam –Comprehensive - 35%