BACHELOR IN BUSINESS ADMINISTRATION

PROGRAM

BUS 305

Principles of Accounting

Syllabus

King’s College
 BUS 305 Syllabus

Table of Contents

Course Description

Course Learning Outcomes (CLOs) Linked to Program Outcomes

CLA Linking Table

Detailed Course Outline

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 BUS 305 Syllabus

Course Description
COURSE NAME Principles of Accounting
CODE BUS 305
UNITS 3
LENGTH OF CLASS 8 weeks
This course includes the basic concepts and framework of
financial accounting. The material focuses on financial statement
COURSE DESCRIPTION interpretation, an analysis and application of internal control
practices, and working capital management. In addition, students
will learn to analyze company financial performance.
Franklin, M., Graybeal, P., & Dixon, C. (2019). Principles of
Accounting, Volume 1, Financial Accounting.
REQUIRED TEXT
Openstax.org
ISBN: 978-1-947172-67-8
Students interact with each other and with the faculty in a
METHOD OF classroom setting and in an online learning system. Learning will
INSTRUCTION be facilitated through lecture-discussions, presentations,
cooperative learning, and case studies.

Student outcomes are measured through professional individual

SCOPE assignments, discussion postings, comprehensive learning
assessments, and class participation.

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Course Learning Outcomes (CLOs) Linked to Program Outcomes

Learning outcomes are statements that describe significant and essential scholarship that students
have achieved and can reliably demonstrate at the end of the course. Learning outcomes identify
what the learner will know and be able to do by the end of a course – the essential and enduring
knowledge, abilities (skills), and attitudes (values, dispositions) that constitute the integrated
learning needed by a graduate of this course. The learning outcomes for this course summarize
what students can expect to learn and how this course is tied directly to the educational outcomes
of the BBA degree.

(K) Knowledge
BBA Program
Course Learning Objectives (CLOs) (S) Skill
Objectives
(A) Attitude
1. Describe generally accepted accounting principles
and how the accounting equation works in the 1, 2, 9 K, S, A
practice of accounting.

2. Demonstrate an understanding of the three main

financial statements (Income Statement, Balance
1, 2, 3, 9 K, S
Sheet, and Statement of Cash Flow) and how they
are compiled and interconnected.

3. Apply ethics and internal control practices to a

5, 6, 7 K, S, A
variety of situations and roles in business.

4. Evaluate company working capital strategies and

analysis of inventory and receivables turnover to 4, 8, 9 K, S
a competitor.
5. Evaluate a company's profitability, solvency, and
liquidity and compare performance to a 4, 6, 8, 9 K, S
competitor.

6. Interpret sources and uses of cash on the cash

2, 3, 4 K, S
flow statement and evaluate free cash flow.

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CLA Linking Table

Comprehensive Learning Assessments (CLAs), Professional Assignments (PAs) and Discussion
Questions (DQs) directly measure Course Learning Outcomes and indirectly measure BBA
Program Outcomes. The following table shows how all those are linked together.

Comprehensive Learning Course Learning Outcomes

BBA Program Outcomes
Assessments (CLAs) (CLOs)

CLA1 (Week 5) 2, 3, 6 1, 2, 3, 4, 5, 6, 7, 9

CLA2 (Week 7) 1, 2, 6 1, 2, 3, 4, 9

PA and Team Project Linking Table

Professional Assignments Course Learning Outcomes
BBA Program Outcomes
(PAs) (CLOs)

PA1 (Week 3) 3, 4, 5 4, 5, 6,7, 8, 9

Project (Week 8) 2, 4, 5 1, 2, 3, 4, 6, 8, 9

DQ Linking Table
Course Learning Outcomes
Discussion Questions (DQs) BBA Program Outcomes
(CLOs)

DQ1 (Week 1) 1 1, 2, 9

DQ1 (Week 3) 1, 2 1, 2, 3, 9

DQ1 (Week 6) 3 5, 6, 7

DQ1 (Week 7) 1, 2 1, 2, 3, 9

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Detailed Course Outline

The following outline provides important assignment details for this course, week by week.
Students are responsible for all of the assignments given. Please refer to the University Policies
document for detailed descriptions of the grading criteria for each deliverable.

1. Week 1

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 1: Role of Accounting in Society
o Chapter 3: Analyzing and Recording Transactions
● Watch Video before class: Social Impact of Accounting Video (Time: 3m:14s)
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.
● Form Project Teams

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question 1 - CLO 1

You are interning as a CPA’s assistant and helping prepare financial statements when you come
across a transaction that causes you doubt. Using your imagination, in a 150-200-word response,
describe that transaction and how you would go about researching the proper GAAP principles.
Which principle(s) apply to the transaction you are feeling doubtful about?
How would the principle(s) guide you in the next steps you would take to resolve the issue?

Team Project - Team Selection

This course will include a team project to be worked on weekly but will not be due until Week 8.
The project scope will differ depending on the course, so be sure to read the full assignment
prompt before your course begins. 

Teams will be formed in Week 1. Although nothing beyond identifying the teams is due or
graded Week 1, teams are encouraged to begin reviewing the project scope, determining what
role each person will assume, and considering the project timeline for successful completion. 

The instructor reserves the right to penalize students who do not contribute per the peer
evaluation on the overall project score, up to a potential maximum penalty of scoring 0 on the
project, so make sure you are an active contributor to your team. Please use the grading rubric to
view how your group project will be graded

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2. Week 2

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 2: Introduction to Financial Statements
o Chapter 16: Statement of Cash Flows
● Watch Video before class: Crash Course: Understanding Financial Statements and
Accounting (Time 12m:43s)
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.
● Submit Completed Project Team Charter by Sunday at 11:59 p.m.

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question 1 - CLO 1

For the current year, Singh and Sons, Inc. decided to switch from the indirect method to the
direct method for reporting cash flows from operating activities on the statement of cash flows.
In a 150-200-word response, what would you advise Singh and Sons about how this change may
cause the amount of net cash flow from operating activities to be larger, smaller, or the same as if
the indirect method had been used? Explain.

Team Project -Project Charter

Now that the team has a good understanding of the scope of the project, the team must schedule
a time to meet during Week 2 to discuss and develop the Project Charter. The charter must be
fully completed in order to be acceptable for review and grading. In order to access and
download both the Charter Template and Charter Example, you must use your Westcliff
University email address. 

Submit the Project Team Charter in GAP before the due date.

Project Team Charter Template

Project Team Charter Sample

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3. Week 3

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 9: Accounting for Receivables
● Watch Video before class: Accounts Receivable Basics (Time: 4m:38s)
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.
● Submit Professional Assignment 1 by Sunday at 11:59 p.m.

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question 1 – CLO 1, CLO 2

The following scenario is a common example for public companies in regards to the GAAP
principle for revenue recognition**:
You own a small clothing store and offer your customers cash, credit card, gift cards, or in-house
credit payment options. Many of your customers choose to pay with a credit card or charge the
purchase to their in-house credit accounts. This means that your store is owed money in the
future from either the customer or the credit card company, depending on payment method.
Regardless of credit payment method, your company must decide when to recognize revenue. In
a 150-200-word post, answer the following questions with sufficient detail that your meaning
and answer is clear:
1. Do you recognize revenue when the sale occurs or when cash payment is received?
2. When do you recognize the expenses associated with the sale?
3. How are these transactions recognized?
**Adapted from Principles of Accounting, Volume 1: Financial Accounting by OSCRiceUniversity is licensed
under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, except where
otherwise noted.

Professional Assignment 1 – CLO 3, CLO 4, CLO 5

The textbook includes information regarding Enron Corporation and Sarbanes-Oxley. Using the
search terms to search the textbook and with other supporting research:
a) Identify at least three internal control issues exhibited in the demise of Enron and their
external accounting company, Arthur Anderson.
b) Identify at least three important elements of the Sarbanes-Oxley Act that attempted to
address these issues.
c) Finally, give your informed opinion as to whether or not the Sarbanes-Oxley Act fixes
the financial issues of the Enron collapse.

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Make sure you include and use a minimum of two peer-reviewed, academic, or business
resources, plus the textbook in your paper.

Team Project - Project Timeline

Successful projects are ones that are carefully planned. Gather with your team and produce a
project timeline using a Gantt chart format. You may use any tool your team is comfortable
using to develop this: MS Word, Monday.com, and many websites offer free Gantt chart
templates. Your timeline must include a list of deliverables, dates, and identify persons
accountable for each part.

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4. Week 4

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 10: Inventory
o Chapter 11: Long-Term Assets
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.
● Watch Video before class: What are assets? (Time: 10m:06s)
● Submit Team Project, Project Timeline

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question – CLO 1, CLO 2, CLO 3

Your family started a new manufacturing business making outdoor benches for use in parks and
outdoor venues two years ago. The business has been very successful, and sales are soaring.
Because of this success, your family realizes that the equipment purchased to start the business
will not last as long as expected because the company has needed to run twenty-four-hour
production shifts for most of the past year. There has been a lot of wear and tear on the
equipment. The original useful lives and salvage values are not as accurate as your family had
hoped. Your aunt, who is the production manager for the family business, has approached you
because she is concerned about this issue, and she knows you have had an accounting class.

● What advice do you have for her?

● How should the company readjust given the realities of the last few years?
● How could wear and tear on the equipment affect your inventory, supply chain, and
logistics in the future?
● Are there any ethical issues that your aunt should consider in determining salvage values?

Team Project - Project Timeline

Successful projects are ones that are carefully planned. Gather with your team and produce a
project timeline using a Gantt chart format. You may use any tool your team is comfortable
using to develop this: MS Word, Monday.com, and many websites offer free Gantt chart
templates. Your timeline must include a list of deliverables, dates, and identify persons
accountable for each part.

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5. Week 5

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 8: Fraud, Internal Controls, and Cash
o Chapter 12: Current Liabilities
o Chapter 13: Long-Term Liabilities
● Watch Video before class: What are liabilities? (Time: 10m:06s)
● Submit CLA 1 by Sunday at 11:59 p.m.

CLA 1 Comprehensive Learning Assessment – CLO 2, CLO 3, CLO 6

Describe what accounting equation (A = L + E) represents and which financial statement it

represents.

In addition, in a 4-6-page, APA-formatted paper, explain how the income statement, the balance
sheet, and the cash flow statement are connected.

Finally, explain what working capital is and how someone can assess financial performance of
working capital using the balance sheet and the cash flow statement.

Make sure you include and use a minimum of three peer-reviewed, academic, or business
resources, plus the textbook in your paper.

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6. Week 6

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 8 and Appendix A:
● Watch Video before class: Internal Controls in Accounting: Definition, Types, &
Examples (05:52)
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.
● Submit Project Draft Submission by Sunday 11:59 p.m.

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question 1 - CLO 3

Starting on page 542 of Principles of Accounting, you are introduced to several elements of
internal control. In a 150-200-word response, provide answers to the following questions:
● What are two strategies that you have seen in action at your own place of employment?
● How were those two strategies implemented?
● In addition, can you identify one strategy that you think is most applicable to your current
job or a job/role/department you may have in the future?

Project – Draft submission

Prepare a draft for submission by Sunday evening at 11:59 p.m. of Week 6. The faculty
members will provide feedback on the draft for content only during Week 7. You will then use
that feedback to improve and finalize the project for presentation and submission during the last
class meeting in Week 8.

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7. Week 7

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Chapter 6: Merchandising Transactions
o Chapter 14: Corporation Accounting
● Watch Video before class: Merchandising: Buyer/Seller Journal Entries (Time 14m:57s)
● Post DQ Initial Response by Wednesday at 11:59 p.m.
● Post DQ Peer Response(s) by Saturday at 11:59 p.m.

Discussion Question Information: Answer all questions thoroughly, and be sure to provide one
(1) direct response to the discussion question prompt and one (1) peer response. When posting
peer responses, elevate your peers by asking probing questions that encourage your peers to
engage in a more meaningful and deeper manner or by presenting additional ideas from
research.

Discussion Question - CLO 1, CLO 2

Congratulations! You are starting up your own small business. There are many details to
consider and decide upon, including how a sale will impact your income statement and balance
sheet.

In a 150-200-word response, tell us a little bit about the business you are starting (no more than
five sentences).
● Then, tell us about the accounting method you have selected for your company and why
you chose that method.
● Support your response with examples, citations, and references.

Team Project - Feedback on Progress

Feedback is a significant part of the success of a project. This week, you and your team will
receive feedback from the professor on team progress. To ensure your professor has everything
they need to provide helpful feedback, please be sure to:

Submit a draft of the project to the professor no later than the end of Week 6.

Be sure to schedule some time to meet as a team immediately after you receive feedback from
your professor to discuss how the feedback will be implemented within the project.

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8. Week 8

Assignments to complete this week:

● Reading: Principles of Accounting, Volume 1, Financial Accounting
o Review all chapters covered that will assist in the completion of the CLA 2 and
Team Project assignments
● Submit CLA 2 by Sunday at 11:59 p.m.
● Present Team Project during last meeting of class

CLA 2 Comprehensive Learning Assessment 2 – CLO 1, CLO 2, CLO 6

Chau Pham launched a new business called Pham’s Maintenance Co. that began operations on
June 1, 2021. The following transactions were completed by the company during the first month:
June 1 Pham invested $175,000 in the business in exchange for common stock.

2 Rented a furnished office and paid $7,500 cash for June's rent.

4 Purchased $3,000 worth of equipment from Skyline Office equipment paying

$1,000 cash with the balance being paid in 20 days.

6 Paid $1,300 cash to advertise the grand opening of the business.

9 Performed maintenance services for a customer and was immediately paid

$1,000 in cash.

10 Performed $8,500 of maintenance services for PDQ Company on credit.

12 Paid $300 in cash to Hernandez Bookkeeping Services for work performed

during June.

20 Received $8,500 from PDQ Company for maintenance work done on June 10.

21 Performed maintenance services totaling $650. The customer paid cash

immediately.

22 Performed $1,250 of maintenance services on credit for Patel Realty.

23 Performed $8,500 of maintenance services on credit for the Alaska Mall.

24 Paid $2,000 balance due to Skyline for the equipment purchased on June 4.

30 Received $1,250 in cash for services performed for Lee Realty on June 22.

30 Paid $250 cash for this month's telephone bill.

30 Paid $750 cash for utilities.

30 Paid $3,000 cash for dividends.

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Required:
1. Arrange the following asset, liability, and equity titles in a table: Cash; Accounts
Receivable; Equipment; Accounts Payable; Common Stock; and Retained Earnings.
a. Include an Explanation column for changes in equity.
2. Show the effects of the transactions on the accounts of the accounting equation by
recording the increases and decreases in the appropriate columns.
a. Do not determine new account balances after each transaction.
b. Next to each change in equity, state whether it was caused by an investment, a
revenue, an expense, or a dividend.
c. Determine the final total for each account and verify that the equation is in
balance.
3. Prepare a June unadjusted income statement, a June unadjusted statement of retained
earnings, a June 30 unadjusted balance sheet, and a June unadjusted statement of cash
flows.

Team Project Assignment - CLO 2, CLO 4, CLO 5

PART I: Using the two publicly traded companies (in the same industry) that were approved in
week 2 by your instructor, conduct the following analysis in your team using two years of data:

a. Calculate the gross profit margin (profitability ratio) for two years
b. Calculate the net profit margin (profitability ratio) for two years
c. Calculate the inventory turnover and the days in inventory for two years
d. Calculate the receivables turnover and the days in inventory for two years
e. Calculate the working capital, current ratio and quick ratio for two years (liquidity
ratios)
f. Calculate the debt to equity ratio for two years (solvency ratio)
g. Using finance.yahoo.com, look up your two companies, go to the financial statement
and click on the cash flow statement. At the bottom, the screen should have calculated
the free cash flow. Pull the free cash flow numbers for two years for your companies.

To familiarize yourself with pulling 10-k information, review this video:

https://youtu.be/h7uyeT71vk0

Consolidate all of the documents your team has developed in tables and/or charts, including all
the calculations. Submit this to GAP.

PART II: Develop a PowerPoint presentation, explaining the overall financial performance of
these two companies. Share with your peers: if your team was given $10,000 to invest, which
company would you rather invest in? Why?

The culmination of your hard work is in Week 8. You and your team will present your project to
your class as a group. You may utilize PowerPoint, Prezi, or any other presentation tool to assist
you with communicating project components. To receive a grade for this part of the project, each
student must have an opportunity to present one or more components of the project. Apart from
presenting project components, you must include a brief reflection of how this project

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contributed to your increased understanding of the project focus and of your own teamwork and
communication skills--be specific.

Team Leader is responsible to submit the Project Presentation on GAP.

Your slide deck should be no longer than five slides long and your team presentation no longer
than 5 minutes. Each team member must have equal presenting time.

Finally, each individual team member will complete a confidential Project Team Evaluation
form. Be sure to review the details of the form completely before submitting.

Team Evaluations Forms Link

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