88187 - PRINCIPLES OF ACCOUNTING (7 CFU)

Learning outcomes

This course is designed to provide students with a solid basis of accounting. At the end of the course stdents are able (a) to understand the difference between accrual accounting and cash flows; (b) to understand the nature of the information on the income statement, the balance sheet, and the statement of cash flows; (c) to know the meaning of some of the more frequently used terms on a set of financial statements, such as depreciation, prepaid expenses, and allowances for doubtful accounts.

Course contents

The course is divided into two parts:

Part 1. INTRODUCING ACCOUNTING WITH LEGO
(15 contact hours), professor Satoshi Sugahara (Kwansei Gakuin University, Japan)

You will use the most popular colorful plastic blocks toy to approach accounting. Beginners and who has already approached accounting in high school will enjoy these innovative classes were individual and team creativity meets accounting basics.

The detailed program will be distributed during the first class.

Part 2. PRINCIPLES OF ACCOUNTING
(45 contact hours), professor David W. Young (Boston University, United States)

With a top of the class international professor of management, you will be taught accounting with an engaging approach, touching the following topics:

• The difference between accrual accounting and cash flows
• The importance of a cash budget
• The nature of the information on the income statement, the balance sheet, and the statement of cash flows
• The meaning of some of the more frequently used terms on a set of financial statements, such as depreciation, prepaid expenses, and the allowance for doubtful accounts
• The nature of accounting for inventories
  
• The nature of accounting for bonds
  
• The nature of accounting for shareholders' equity
  
• The role of profit as a source of financing
  
• Some of the important financing considerations that organizations must consider, including the choice between debt and equity and the structure of debt obligations
  
• How ratios can be used to analyze an organization's financial statements
  
• Some other techniques than can be used to analyze financial statements to determine an organization's financial strengths and weaknesses
  

The detailed program will be distributed during the first class.

Readings/Bibliography

Part 1. INTRODUCING ACCOUNTING WITH LEGO, professor Satoshi Sugahara

The reading articles and bibliography will be provided by the teacher during the course.

Part 2. PRINCIPLES OF ACCOUNTING, professor David W. Young

Young, D. W. "Financial Accounting for Managers: An Interactive User-Oriented Primer"

ATTENTION! This book can be ordered ONLY to The Crimson Group Curriculum Center [http://www.thecrimsongroup.net/CurriculumCenter.aspx?index=4] by sending an email to CrimsonCenter@TheCrimsonGroup.org

Please order your book before the beginning of the course.

Teaching methods

Part 1. INTRODUCING ACCOUNTING WITH LEGO, professor Satoshi Sugahara

Business game, in teams (see also detailed syllabus)

Part 2. PRINCIPLES OF ACCOUNTING, professor David W. Young

Frontal lectures and case analyses, individually and in teams (see also detailed syllabus)

Assessment methods

Part 1. INTRODUCING ACCOUNTING WITH LEGO, professor Satoshi Sugahara

Grading will be based on a combination of course contribution,
group presentation, paper works in the course and a final report (see detailed syllabus).

Part 2. PRINCIPLES OF ACCOUNTING, professor David W. Young

Grading will be based on a combination of class contribution, team written case analyses, and two individual written exams (see detailed syllabus).

Office hours

See the website of David William Young

See the website of Satoshi Sugahara