Time Schedule:
Elizabeth Widdison
ACCTG 215
Seattle Campus
Nature and social setting of accounting; uses of accounting information; introduction of basic accounting concepts and procedures; interpretation of financial statements. May not be repeated.
Class description
This course provides an introduction to the language of business -- accounting. It focuses on financial accounting -- that is, the reporting model for external users of financial statements. Upon completion of the course, students will be able to analyze and interpret economic transactions, record them in an accounting information system, and summarize the results of those transactions in the basic financial statements. Students will be able to interpret and derive useful information from financial statements of real-life example companies. Additionally, students will become familiar with terms and concepts essential for making wise personal financial and investment decisions. It will also provide an opportunity for exploration of the accounting profession as a career choice.
Student learning goals
General method of instruction
The course requires two 80-minute, large class (120 students) lecture sessions and two 50-minute small-group (40 students) quiz sections each week. The quiz sections are led by teaching assistants who assist students in understanding concepts and theories presented in lecture and applying them to assigned exercises, questions, and problems. Teamwork is stressed in lecture and quiz section activities. A course pack of instructor-prepared lecture overheads is available and required. This allows the students to concentrate on the lecture and add their own personalized notes to the outlines.
Recommended preparation
New topics are presented in lecture sessions. Students should read the assigned text material and work assigned problems after the lecture and before the next day's quiz section. The course covers a great deal of material, and students are strongly encouraged to seek assistance from the instructor or from the teaching assistant as soon problems with understanding the material arise. If classes are missed, it is very difficult to catch up, so regular attendance and active participation is critical to success in this course. Subscription to the Wall Street Journal is strongly recommended during the duration of the course to provide real-life examples and to familiarize students with financial business information in general.
Class assignments and grading
Homework problems are assigned relating to each lecture session. These consist of short-answer questions and computational exercises and problems. In addition, the following group activities are assigned: one in-class worksheet problem, one comprehensive accounting problem, one paper, and two Internet assignments.
The final course grade is determined based on performance on quiz section activities (homework assignments, quizzes, Internet assignments, etc.), two midterms, one comprehensive problem, and one final exam. The final exam is not comprehensive.
