Hanyang International Summer School
“Fundamentals of Accounting Principles”
3 credit hours
Accounting is the language of business. It is the activity that provides the information about
economic entities that are necessary for making sound decisions. In this course we will study
the fundamental accounting principles and procedures. This will include a complete overview
of the accounting cycle such as journalizing, posting and preparation of financial statements.
II. Instructor: Dr. Stan Vinson
Asst. Professor Business School
Northern State University
III. REQUIRED TEXTS:
Fundamental Accounting Principles
John J. Wild, Ken W. Shaw and Barbara Chiappetta
McGraw Hill Publishing 2009
Textbook’s supporting Web site: www.mhhe.com/wildAP20e
IV. GRADING/EVALUATION POLICY
Mid Term 100 points A = 315 - 400
Final Exam 100 points B = 280 - 314
Daily Problems 150 points C = 245 - 279
D = 210 - 244
Total Available 350 points F = less than 210 points
TESTS: We will have two tests - a mid-term and final exam.
V. COURSE OBJECTIVE
As the class evolves and as discussions progress other objectives will be introduced, the
following are basics goals for the class.
Understanding the fundamentals of the accounting cycle.
Examining the accounting of Merchandising Operations.
Accounting for Cash, Receivables and monitoring internal.
Review of accounting for partnerships, corporations and proprietorships
VI. PROPOSED CLASS SCHEDULE
(subject to revision)
Week 1 The Accounting Cycle
Chapter 1 – Accounting in Business.
Chapter 2 – Analyzing and Recording Transactions
Chapter 3 – Adjusting Accounts and Preparing Financials
Week 2 Merchandising, Inventory and Internal Controls
Chapter 4 – Completing the Accounting Cycle
Chapter 5 – Accounting for Merchandising Operations
Chapter 6 - Inventories and Cost of Sales
Week 3 Accounting Information Systems
Chapter 7 – Accounting Information Systems
Chapter 8 – Cash and Internal Controls
Chapter 9 – Accounting for Receivables
Week 4 The Basics of Accouting
Chapter 10 – Plant Assets, Natural Resources, and Intangibles
Chapter 11 – Current Liabilities and Payroll Accounting
Chapter 12 – Accounting for Partnerships
VIII. GENERAL COMMENTS:
Teaching and discussing the Fundamentals of Accounting, is, as life, a work in progress. While
considerable attention and study has been given to make sure the syllabus, books and classroom
presentations will deliver a quality learning and education – please recognize that changes in schedule
are probable, if not eminent. To that end we would ask for your patience and understanding when hit
those bumps in the road.
Also, we look forward to your feedback and insights on our classes along the way as well as at the end
of the session. Without your thoughts – both positive and negative – making this class the success we
know it can be will be difficult and much slower than we all hope.
I look forward to seeing you in class and your active participation.
Dr. Stan Vinson