FIN 526 Finance & Accounting Applications in Logistics & Distribution
(Section 01), Spring, 2003
Time: TBD
Detailed Outline of Course
Week 1, Class Period 1:
Chapter 1: Accounting and the Business Environment
• The Objectives of Financial Accounting
• Key Concepts and Principles
- Entity Concept
- Cost Concept
- Objectivity Concept
• The Basic and Expanded Accounting Equation
- Defining Accounts
• Assets
• Liabilities
• Owner’s Equity
• Revenue
• Expenses
• Transaction Analysis
• Financial Statements
- Overview of the Statements
- Relationship Among the Financial Statements
Week 2, Class Period 2:
Chapter 2: Recording Business Transaction
• Classifying Assets and Liabilities
- Current vs. Noncurrent Assets
- Current vs. Long-term Liabilities
• Double-entry Accounting
-
Increases/ Decreases in Accounts
- Debit/ Credit Framework
- Journalizing and Posting to Accounts
• Trial Balance
-
Identifying Errors and Correcting Errors
1
Week 2, Class Period 3:
Chapter 3: Measuring Business Income: The Adjusting Process
• Accrual Accounting vs. Cash-Basis Accounting
• Revenue Principle
• Matching Principle
• Time-Period Concept
• Adjusting Entries
- Deferrals and Accruals
* Prepaid Expenses
* Depreciation
* Accrued Expenses
* Accrual Revenues
• Adjusted Trial Balance
• Financial Statement Preparation
-
Income Statement
- Statement of Owner’s Equity
- Simple Balance Sheet
• Ethical Issues in Accrual Accounting
Week 2, Class Period 3 and 4:
Chapter 4: Completing the Accounting Cycle
• The Accounting Cycle
• Closing Process
• Classified Balance Sheet
Week 2, Class Period 4:
Chapter 10: Plant Assets and Intangible Assets (pp. 386-404)
(Note: Skipping Intangibles section)
• Measuring the Cost of Plant Assets
- Land
- Buildings
- Machinery and Equipment
- Leasehold Improvements
- Construction in Progress
- Capital Leases
- Capitalizing the Cost of Interest
- Capital Expenditure
•
Measuring Plant As