This course is an introduction to the basic accounting concepts. In the first part of the course emphasis is placed in studying the accounting cycle, basic accounts, the journal, the ledger, the balance sheet, the income statement, the statement of retained earnings, the statement of cash flows, and all the necessary accounting adjustments. The second part of the course analyzes in detail assets, liabilities and stockholders' equity, as well as the most important systems of keeping inventory, inventory valuation methods, valuation of assets, depreciation systems, intangible assets, and liabilities accounts. The course will end with a look at the company's stockholders' equity and capital stock composition.
Titular Professors
Professors
No prior knowledge is presupposed; The fundamental concepts are introduced from the beginning of the course.
On the completion of this course students will be able to:
- Be fully acquainted with the basic accounting concepts, thus being able to record all the economic transactions of the business.
- Prepare basic financial statements using the accounting information previously recorded.
- Understand the role of each of the basic accounts.
- Know the basic systems of managing inventories and methods of valuation that may be used.
- Understand all the concepts related to plant and intangible assets as well as the concepts of depreciation and amortization.
- Learn all the liabilities found in a business and their accounting treatment.
- Have a full understanding of the company's equity composition and their different types of valuation in the market.
Chapters 1 and 2 - Introduction to Accounting and Basic Financial Statements
Chapter 3 - The Accounting Cycle: Capturing Economic Events
Chapter 4 - Accruals and Deferrals
Chapter 5 - Reporting Financial Results
Chapter 6 - Merchandising Activities
Chapter 7 - Financial Assets
Chapter 8 - Inventories and the Cost of Goods Sold
Chapter 9 - Plant and Intangible Assets
Chapter 10 - Liabilities
Chapter 11 - Stockholders' Equity and Paid-in Capita
The class sessions will consist of one-hour lecture time and two solving problems and group project. The first session will be devoted to solving the homework cases assigned in the previous session and clearing doubts. The second session will be lecture time and solving cases based on the lecture material thus preparing the students for the homework. Every two weeks one session will be devoted to the group project. Lectures will follow closely the structure and content set out in the required textbook.
The qualification of the course will be based on the following academic activities of great importance:
[A] Attendance, work and participation in class – 10% (Individual work)
[B] Continuous assessment – 15% (Individual and/p teamwork)
[C] Group cases – 20% (Teamwork on a project)
[D] Midterm assessment – 25% (Individual work)
[E] Final evaluation – 30% (Individual work)
FINAL GRADE IN THE FIRST CALL:
10%(A) + 15%(B) + 20%(C) + 25%(D) + 30%(E)
Retake Policy in extraordinary call:
[A] Attendance, work and participation in classes - 10% (Individual work)
[B] Continuous Assessment - 10% (Individual and/or team work)
[C] Group Cases - 20% (Teamwork on a project)
[D] Midterm assessment (MIDTERM) - 20% (Individual work)
[F] Retake exam - 40% (Individual work)
FINAL GRADE IN EXTRAORDINARY CALL(S):
10%(A) + 10%(B) + 20%(C) + 20%(D) + 40%(F)
REQUIREMENTS AND EXPECTATIONS
In addition, instructors expect the following from students:
Punctuality
It is important to arrive on time to class, as tardiness generates distractions and disrupts the learning environment. If a student arrives more than 10 minutes late, it will be recorded as an absence and the student will not be allowed to enter until the break. It is also mandatory to return from the break at the indicated time; otherwise, the same rule will apply.
Participation
Participation means being actively involved, not just being physically present. The quality of contributions and the ability to connect with classmates’ comments will be evaluated. Students who do not participate regularly will receive a lower grade in this component. Participation carries an important weight in the final grade and is entirely under the student’s control.
Class Preparation
Students are expected to attend class having completed the readings, exercises, and assignments.Any inappropriate behaviour or disrespect towards classmates or instructors will result in removal from the classroom, and the session will be recorded as an absence.
Mobile Phone Policy
The use of mobile phones is not allowed during class hours. During sessions, making calls, sending text messages, using WhatsApp or any other mobile-related actions is prohibited. All devices must remain turned off and stored in bags, out of sight. In case of non-compliance, the instructor will ask the student to leave the classroom after a first warning. In addition, their name will be reported to the Business Undergraduate Management Team for disciplinary action.
Being Prepared for Each Class
Students are expected to attend class with readings, exercises, activities, and tasks prepared in advance. Students come to class with the intention of learning and working. Those who do not behave properly or who show disrespect towards classmates or the instructor will be asked to leave the classroom, and this will count as an absence for the session.
Meeting Deadlines
It is the student’s responsibility to know the key dates related to the course: continuous assessment deadlines, forum participation, case study presentations, thematic forum participation, exams, etc.
Late submissions of continuous assessment exercises will not be accepted, since after the deadline these exercises are corrected and discussed in class; therefore, submitting them later has no purpose. A continuous assessment exercise not submitted will receive a grade of 0.
A late submission of a practical case will be penalised with a reduction of the corresponding grade→ A presentation submitted late will have a maximum grade of 5 out of 10.
Demonstrating Academic Integrity in All Work
If a student is caught cheating in exams, plagiarising or reusing exercises, activities, tasks, or presentations, or submitting group work in which they did not participate, they will receive a penalty in the final grade.
The student must ensure that the work submitted is their own. They are also responsible for citing all sources used, employing quotation marks when text is taken directly from another author.
You can consult La Salle-URL’s plagiarism policy at the following link: https://www.salleurl.edu/en/copies-regulation
ATTENDANCE POLICY
- Attendance will be recorded at the beginning of each session.
- Justified absences no longer exist; students may miss up to 5 sessions for any reason.
- Starting with the sixth absence, the final grade will be reduced by 5%, and the same reduction will apply for each additional absence.
- If absences continue, the instructor will contact the academic tutor and programme management.
ONLINE ATTENDANCE POLICY
Students will only be allowed to attend online in the following cases:
- Temporary bureaucratic or visa-related reasons.
- Health issues that prevent attendance on campus for at least 5 school days.
If they wish to request permission for online attendance, the student must send a request to their tutor.
USING AI TOOLS
The use of AI tools is totally prohibited in this course.
Level: Level 1
Designation: No AI
Use of AI: The use of AI is not allowed at any stage of the task. The work must be carried out entirely without artificial assistance.
Requirements for the student: Develop the activity completely autonomously, demonstrating their own knowledge and skills, without the support of AI tools.
In subjects or teaching activities that explicitly prohibit the use of AI tools in academic activity, the use of such tools will be considered fraudulent, and the sanctions established in the Copying Regulations will be applied in accordance with the provisions (https://www.salleurl.edu/en/copies-regulation).
Williams, Haka, Bettner, & Carcello. (2018). Financial & Managerial Accounting (18th ed.). New York, NY: McGraw-Hill
Not applicable