School of BusinessGRADING:IX. COURSE SCHEDULE1Azerbaijan UniversitySchool of BusinessAcct 2101 Principles of AccountingFall 2010Instructor: Zaur Ahmadov, PhDPhone: (+994 50) 223 60 78 E-mail: [email protected] time: Saturday 12:00-15:00Office hour: By appointment Course description: Basic structure of accounting; accounting cycle for a service and a merchandising concern; notes,deferrals, and accruals; receivables; inventory, and plant assets; accounting systems and concepts;liabilities; equities; and investments.The first course in accounting is very important to all who take it, whether they plan to becomeprofessional accountants or to use accounting information in non-accounting careers. We hope thecourse meets your educational needs, engenders accurate perception of the broad role of account-ing in modern economies, and assists you in making well-informed career choices.Course Objectives: The primary objective of this course is to introduce students to the language ofbusiness as expressed by accounting information, which will include development of a familiaritywith the information contained in the financial statements and development of skills in using thisinformation to make sound business decisions. Course outcome The overall objective for this course is for you to learn about accounting as an informationdevelopment and communication function that supports economic decision making. To this end,upon completion of the course you should: - have a broad view of accounting's role in satisfying society's need for information and its functionin business, in government, in other organizations, and in public accounting.- gain an overview of the accounting profession, encompassing its history, its ethics, its publicresponsibilities, and its international dimensions as well as an appreciation of the role of auditingin enhancing the credibility of publicly reported information. 1- understand the basic features of accounting and reporting by organizations, including theprinciples underlying the integrity and effectiveness of accounting information systems. - understand fundamental accounting concepts in addition to the elements of financial statements.These concepts include accountability, estimation, accounting judgment, the qualitativecharacteristics of accounting information, choice in accounting measurement, and the ethics ofreporting. - understand that some accounting systems are more effective than others in given circumstancesand that the decision usefulness of information produced by an accounting system depends on itsdesign and choices among information capturing, analysis, and reporting options. Textbooks:Course Materials- Financial Accounting, by Porter and Norton, 4th edition, South-Western Thomson Learning;- Financial Accounting:Tools for Business Decision Making, 4th Ed.- Kimmel, Weygandt, Kieso- www.prinsiplesof accounting.comTeaching methodology: Lecture and Demonstration/Performance. The instructor will stress certain points and elabrate onothers. You should not expect the instructor’s lecture to substitute for indi-vidual reading of the assigned text materials or to cover all the chapter mate-rial. In addition, certain problems and exercises will be worked on the chalk-board or electronic media to demonstrate one approach to solving the prob-lem. You should then complete a similar problem to capture the concept inyour mind.COURSE REQUIREMENTS . Examinations/Quizzes : Will consist of true/false, multiple-choice, matching, problem solving, orany combination thereof. Quizzes will typically be graded in class. There will likely be a few “pop”quizzes designed to reinforce important concepts and reward students for regular attendance. Participation/In-Class Work : Includes regular on-time attendance, discussion of class material,appropriate note taking, in-class activities, and respectful behavior (raising your hand if you wantto contribute to class discussion, refraining from side conversations, etc). 2If a student regularly disrupts the class (by coming late, leaving early, carrying on side-conversations or otherwise detracting from the learning environment) that student may lose up to15% of their final grade. Makeup : Quizzes may not be made up, but you may drop your lowest quiz. No makeup examsare administered during the semester. However, if you miss an exam you may take one makeupwith the final. However, the makeup is typically more difficult than the original. Students withserious and compelling circumstances may receive special consideration. You would avoid being late, walking in and out in the middle of the meeting for any reason, or leaving early.You would avoid whispering and laughing with the person sitting next to you. You would listenattentively, probably take notes, and manage your face and posture to convey interest andcompetence. GRADING:You are expected to attend all scheduled classes. Attendance will be taken daily and will influenceyour grade. Grades will be based on the following:3 Quizzes before Mid-Term 15 points4 Quizzes after Mid-Term 20 pointsParticipation 15 pointMid-Term Exam 20 pointsFinal Exam 30 points__________________________________________________________________________Total 100 pointsThe final grading scale will be as follows: A+, A, A-, B+, B, B-, C+, C, C-, D+, D, D-, F. Scores AKTS scoresA+ = 97 – 100A = 93 – 96 A = 90 – 100A- = 90 – 92B+ = 87 – 89B = 83 – 86 B = 80 – 89B- = 80 – 823C+ = 77 – 79C = 73 – 76 C = 70 – 79C- = 70 – 72D+ = 67 – 69D = 63 – 66 D = 60 - 69D- = 60 – 62F = 0 – 59 E = 50 – 59Fx = 40 – 49F = 0 – 39IX. COURSE SCHEDULEClass Chapter Quiz1 Chapters 12 Chapter 2 3 Chapter 34 Chapters 4 Quiz #1 (Chapter 1,2,3)5 Chapters 5 Quiz #2 (Chapters 3,4)6 Chapter 6 Quiz #3 (Chapters 4,5)7 Chapters 7Mid-Term Exam8 Chapter 89 Chapter 910 Chapters 10 Quiz #4 (Chapters 8,9)11 Chapters 11 Quiz #5 (Chapters 10)12 Chapter 12 Quiz #6 (Chapters 11) 13 Chapter 13 Quiz #7 (Chapters 12)Final Exam COURSE OUTLINES4Chapter 1 AN INTRODUCTION TO FINANCIAL STATEMENTS Describe the primary forms of business organization. The users and uses of accounting infor-mation. Explain the three principal types of