Day 4: Role of Accounting

1. Definition of Accounting 2.5% - Record and Report Financial Information as it relates to Profits and Losses
2. Types of Accounting and Users of Accounting Information 5% - Managerial
3. Ethics and Sarbanes-Oxley 2.5%
4. Definition of GAAP 2.5%

Day 3: The Nature of Business

1. Nature of Business 2.5%
• using inputs - materials - labor
• create outputs - goods - services
• to make a profit - earnings minus costs
2. Types of Businesses 7.5%

   
   

   • service - provides service for a fee
   • merchandising - wholesaler sells goods to a retailer - retailer sells goods to a consumer
   • manufacturing - creates / assembles goods

Day 2: Syllabus

Grading

• chapter quizzes about every 1.5 weeks
• unit test at end of each unit
• homework should be done daily

College Credit

• same course as Triton's ACC101
• 4 hours of transferable credit
• probably count as elective credit
• saves time and money

Tentative Schedule

• Chapter 1: Weeks 1-2 (Formative Quiz on Day 7)
• Chapter 2: Weeks 2-3 (Formative Quiz on Day 14)
• Chapter 3: Weeks 4-5 (Formative Quiz on Day 21)
• Unit 1 Test: Week 5 (Day 24)
• Chapter 7: Weeks 6-7 (Formative Quiz on Day 31)
• Chapter 8: Weeks 7-8 (Formative Quiz on Day 38)
• Unit 2 Test: Week 9 (Day 41)
• Summative Exam: Week 9 (Day 45)

Day 1: Introduction

Watch This Video

Dual Credit Class:

• get 4 hours of transferable credit from Triton
• can use at most colleges as elective credit
• saves you time and money

Corporate Financial Accounting

• focus is on publicly traded corporations
• owned  by shareholders
• shares of stock are bought and sold on public stock exchanges
• New York Stock Exchange
• NASDAQ
• others
• purpose is to make money through investment
• managed / run by CEO and staff
• other C-level positions include:
• CFO
• CTO
• COO
• purpose is to make money for shareholders through profitable operations
• Board of Directors
• elected by shareholders
• hires CEO
• purpose is to watch out for shareholders interest

Day 80: Unit 2 Test

After test:

• Review the Final Exam Preparation Document

Day 78 and 79: Unit 2 Review

Prepare for Unit 2 Test:

• Unit 2 Review Questions PDF
• Unit 2 Review Questions Editable
• Chapter 7 Review
• Chapter 8 Review

Ch 8 Quiz Retake

Study for Unit 2 Test after quiz.