FACULTY OF BUSINESS

Accounting and Auditing Program

BA 341 | Course Introduction and Application Information

Course Name
Intermediate Accounting I
Code
Semester
Theory
(hour/week)
Application/Lab
(hour/week)
Local Credits
ECTS
BA 341
Fall/Spring
3
0
3
6

Prerequisites
  BA 221 To succeed (To get a grade of at least DD)
or ACC 201 To succeed (To get a grade of at least DD)
Course Language
English
Course Type
Service Course
Course Level
First Cycle
Mode of Delivery -
Teaching Methods and Techniques of the Course Problem Solving
Course Coordinator
Course Lecturer(s)
Assistant(s)
Course Objectives The course is composed of three parts. The first part provides a comprehensive review of the accounting cycle initially discussed in BA 221(or ACC 201) which is the prerequisite of this course. The second part will help students to develop a deeper understanding of the use of IFRS Framework in IFRS reporting and will introduce contents and concepts of IFRS based financial statements. In the third part, the students will undertake an in depth analysis of definition, valuation and disclosure of asset accounts by referencing related IFRS/IAS.
Learning Outcomes The students who succeeded in this course;
  • Prepare journal, adjusting and closing entries of an entity.
  • Prepare the unadjuted and adjusted trial balances from the T-Accounts.
  • Prepare the financial statements from the adjusted trial balance.
  • Detect and correct any errors related to entry process.
  • Understand the need and the use of suspense accounts.
  • Define the elements of IFRS based financial reports (comprehensive income statement, statement of changes in equity, statement of financial position and statement of cash flows).
  • Define, value and disclose cash and receivables, inventories, property, plant and equipment, intangibles according to related IFRS/IAS.
  • Apply depreciation, impairment and depletion to property, plant and equipment and intangibles according to related IFRS/IAS.
Course Description This course is designed as an intermediate accounting course in which the aim is to provide e deeper knowlege of the use of IFRS Framework and preparation of IFRS based financial statements. The topics covered include the basic accounting principles, recording process, IFRS Framework, terms and contents of IFRS based financail statements, detailed analysis of cash and receivables, inventories, property, plant and equipment, intangibles and application of depreciation, impairments, depletion to related assets.

 



Course Category

Core Courses
Major Area Courses
Supportive Courses
Media and Management Skills Courses
Transferable Skill Courses

 

WEEKLY SUBJECTS AND RELATED PREPARATION STUDIES

Week Subjects Related Preparation
1 A brief overview of financial accounting and accounting standards Chapter 1
2 Conceptual Framework for Financial Reporting Chapter 2
3 An Overview of Accounting Cycle- Including journal entries, ledger, trial balance, correction of errors, suspense accounts Chapter 3 and Course notes
4 An Overview of Accounting Cycle- Including journal entries, ledger, trial balance, correction of errors, suspense accounts Chapter 3 and Course notes
5 Financial Statements – Comprehensive Income Statement and Related Information, Statement of Changes in Equiity Chapter 4-5
6 Financial Statements – Statement of Financial Position and Statement of Cash Flows Chapter 4-5
7 Midterm Exam
8 Cash and Receivables Chapter 7
9 Valuation of Inventories: A Cost Basis Approach Chapter 8
10 Valuation of Inventories: Additional Valuation Issues Chapter 9
11 Acquisiton and Disposition of Property, Plant and Equipment Chapter 10
12 Acquisiton and Disposition of Property, Plant and Equipment Chapter 10
13 Depreciation, Impairments and Depletion Chapter 11
14 Depreciation, Impairments and Depletion Chapter 11
15 Intangible Assets Chapter 12
16 Review of the Semester

 

Course Notes/Textbooks Intermediate Accounting, IFRS Edition, Volume 1, by Kieso,Weygandt and Warfield, Wiley, 2011.
Suggested Readings/Materials http://www.ifrs.org/Use-around-the-world/Education/Recent-publications/Documents/ifrsresources%20%28March%202013%29.pdf

 

EVALUATION SYSTEM

Semester Activities Number Weigthing
Participation
Laboratory / Application
Field Work
Quizzes / Studio Critiques
Portfolio
Homework / Assignments
1
10
Presentation / Jury
Project
Seminar / Workshop
Oral Exams
Midterm
1
40
Final Exam
1
50
Total

Weighting of Semester Activities on the Final Grade
2
50
Weighting of End-of-Semester Activities on the Final Grade
1
50
Total

ECTS / WORKLOAD TABLE

Semester Activities Number Duration (Hours) Workload
Theoretical Course Hours
(Including exam week: 16 x total hours)
16
3
48
Laboratory / Application Hours
(Including exam week: '.16.' x total hours)
16
0
Study Hours Out of Class
15
3
45
Field Work
0
Quizzes / Studio Critiques
0
Portfolio
0
Homework / Assignments
1
10
10
Presentation / Jury
0
Project
0
Seminar / Workshop
0
Oral Exam
0
Midterms
1
27
27
Final Exam
1
38
38
    Total
168

 

COURSE LEARNING OUTCOMES AND PROGRAM QUALIFICATIONS RELATIONSHIP

#
Program Competencies/Outcomes
* Contribution Level
1
2
3
4
5
1

To be able to acquire theoretical and practical knowledge and skills in the area.

2

To be able to approach problems with an analytical and holistic viewpoint.

3

To be able to gain knowledge about both national and international accounting and auditing standards.

4

To be able to communicate the findings and solutions to the accounting and auditing problems in written and oral formats.

5

To be able to critically evaluate the performance of accounting and other related management information systems, and organizations.

6

To be able to develop innovative and creative approach to real-life business issues.

7

To be able to integrate knowledge gained in the main areas of accounting and auditing through a strategic perspective.

8

To be able to act in accordance with the scientific and ethical values in studies related to accounting and auditing.

9

To be able to demonstrate both leadership and team-work skills through being an efficient and effective team member.

10

To be able to have an ethical perspective and social responsiveness when evaluating and making business decisions.

11

To be able to collect data in the area of business administration and communicate with colleagues in a foreign language ("European Language Portfolio Global Scale", Level B1).

12

To be able to speak a second foreign at a medium level of fluency efficiently.

13

To be able to relate the knowledge accumulated throughout the human history to their field of expertise.

*1 Lowest, 2 Low, 3 Average, 4 High, 5 Highest

 


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