Course Code: ACO 201

Course Title: Principles of Accounting I

Semester Spring 2021
Section and Campus C Main
Number of NDU Credits: 3 credits
Pre-Requisite(s) None

Rasha Bou Hamdan

Click here to enter instructor rank
Faculty of Business Administration & Economics
Department of Accounting and Finance
Office hours: TTH 1:00-1:30
Office number: Click here to enter office number
Class time, section, and Room number: TTH 1:30-3:00
Email: rbouhamdan@bau.edu.lb
Telephone Number: Click here to enter NDU landline number and your extension

Course Description
This course is an introduction to the basic concepts and standards underlying financial accounting systems.
It emphasizes the construction and interpretation of the basic financial accounting statements, the income
statement, statement of cash flows and balance sheet, with a focus on the current assets section of the
balance sheet: Cash, receivables and inventories. The course also covers revenue and expense recognition
issues, equity financing and generally accepted accounting principles that affect the format and presentation
of the financial statements.

Course Learning Objectives

After completing this module, students should be able to:
1- Understand the Accounting environment (objectives, terminology, concepts and economic
activities)
2- Analyze and record transactions
3- Prepare key accounting Financial Statements
4- Process transactions relating to equity financing of a corporation
5- Process transactions relating to merchandising activities and Inventory valuation

Program Learning Goals and Objectives

The following program learning goals and objectives are addressed in this course:
LG1. Business Knowledge: Our graduates will have comprehensive disciplines knowledge in business.
Objective 1.1 Students should be able to demonstrate the understanding of core business knowledge in
accounting, economics, finance, management and marketing.

☒PLO 1.1: Business Knowledge

☐PLO 2.1: Critical Thinking
☐PLO 3.1: Written Communication
☐PLO 3.2: Oral Communication
☐PLO 4.1: Ethics
☐PLO 4.2: Social Implications
☐PLO 5.1: Teamwork

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Course learning materials

Textbook
Williams, Haka, Bettner, and Carcello,
“Financial Accounting”: The Basis for Business Decisions,
18 th Edition, McGraw Hill. (E-book)

Supplementary Readings
Ministry of Finance: www.finance.gov.lb
The Lebanese Association of Certified Public Accountants (LACPA):www.lacpa.org.lb

Library Support
NDU Library is open to students to help you in all your research and class work. Qualified personnel are
available to help you.

Writing Center
The Writing Center provides assistance to all students who wish to discuss their writing with a trained
consultant. The Center is located in HA 114. An appointment is required.

Blackboard (bb) Software

If you are not familiar with the Blackboard system, it is recommended to attend a training session at the
University Computer Services in order to know how to use the Blackboard system to enrich the academic
communication with your instructor and your colleagues.

Learning strategies and contents of the course

The course involves a combination of teaching-lectures, discussions with active participations, and problem
solving sessions. The lectures will focus on the description and understanding of the theoretical concepts.
Discussions and problem solving sessions will provide an opportunity for the practical implications of the
subject.

The structure of this class makes study and preparation outside of class extremely important. As a rule, I
will lecture on a chapter expecting that the student has read the material ahead of lecture time. Therefore,
reading the assigned chapters and having some familiarity with them before class will greatly assist your
understanding of the lecture. We will work some of the end-of chapters’ problems when lecturing on a
particular chapter is finished.

Duration: one semester.

The course consists of several topics given over 40 hours of face-to-face lectures/problem solving/review
sessions and 5 hours of midterm exams.

The learning hours are subdivided as follows:

Contact hours (including phase tests assessment) 45 hours

Directed readings, preparation 30 hours
Self-Study 105 hours
Total 180 hours

The outline provides a general plan for this course; however, I reserve the right to make additions and
changes during the semester as I see necessary. Materials must be read and/or completed before the day
assigned.

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 TOPICS Chapter Number of hours

Accounting Information for Decision Making Chapter 1 2 hours

Basic Financial Statements. Chapter 2: Suggested Problems: 4 hours
Set B 2,4,6,8
The Accounting Cycle: Capturing Economic 5 hours
Chapter 3: Suggested Problems:
Events.
Set B 2,3,4,6.
The Accounting Cycle: Accruals and Deferrals. Chapter 4: Suggested Problems: 6 hours
Set B 2,3,5 + Exercises 5,8,9
Exam 1 1.5 hours
The Accounting Cycle: Reporting Financial 4 hours
Results. Chapter 5: Problems Set B 2,5,8

Merchandising activities Chapter 6: Suggested Problems 6 hours

Set B: 4,5 + Extra problems
Chapter 8: Suggested Problems 4 hours
Inventories and the Cost of Goods Sold. Set B: 1 + Extra problems
subsidiary ledger
Exam 2 1.5 hours
Chapter 7: Suggested Problems 4 hours
Financial Assets / Statement of Cash flow. Set B: Problem 1+ Extra
problem petty cash.
Chapter 2: exercise 11
Stockholder's Equity: Paid-in Capital. Chapter 11: Suggested 5 hours
Problems Set B: 4,5 +exercises
9,10
Final exam ( Comprehensive) 2 hours

Homework Assignments and Study Management

To get the most out of the course students are expected to:
1. Familiarize themselves with assigned readings prior to the lectures. A good strategy would be to
skim for a general grasp of the issues before the lecture, and then do focused study afterwards. You
should understand the meaning of each term and concept. You should understand and be familiar
with each example in the text. You should know where each number comes from, the meaning of it,
and how and why it is used. It is essential not to get behind, since the new topics are built on past
material.
2. Solve all problems as if they are exercises in preparation for the examinations. They will not be
graded. Give the problems your best shot before we discuss them in class even though they will not
be collected. Treat them as practice exams. By all means, do not look at the solutions published on
the Blackboard until you have given the problems your best shot.
3. Be awarded BONUS points on a random check basis for homework submitted.
4. Stay current. It is important to review class notes on a routine basis. Do not wait until the weekend
prior to the test. That’s not the best time to realize that you do not understand something.

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 5. Consistently monitor your own progress and make sure your questions are answered in lecture or
office hours.
6. Read current business and financial news and prepare to discuss events.
7. Participate in class discussions, ask questions and make constructive comments during lectures.
Suggest real world examples to illustrate your key points. Part of participating is listening, to what I
have to say and what other students have to say. Expect to be asked questions directly in class.
8. Arrive on time for class. Once in class, students should remain until the class is completed.
Arrival and departure during class time interfere with the educational process and are not fair to the
other students.

Note that these assignments can be time consuming; hence it is important that you be disciplined in regular
reading throughout the semester. Waiting till the last minute to review the text, lectures, and problems is
guaranteed to get you into trouble.

Assessment criteria and grading scheme

The assessment will call upon students to demonstrate:
 Thorough understanding of the acquired knowledge.
 Critical thinking and complex problem solving ability.

Assessments include five main items

 One-Hour and half Exam after Chapter 4.
 One-Hour and a half Exam after Chapter 8.
The cumulative weighting for these phase tests will be 50% (25% each)
Two-Hour comprehensive Final Exam for all chapters (40% weight)
 Personal Evaluation: participation, quizzes and attendance: (3% weight)
 E-Connect Quizzes: (7% weight).
P.S.: The instructor reserves the right to make changes to the above grade allocation as well as to the
frequency, content, dates and type of tests.
Grad Description Quality Point Value Percentage Equivalent
e
A+ Outstanding 4.00 97-100
A Excellent 4.00 93 - 96
A -
Very Good 3.70 89 - 92
B +
Good 3.30 85 - 88
B Good 3.00 80 - 84
B -
Good 2.70 77 - 79
C +
Satisfactory 2.30 73 - 76
C Satisfactory 2.00 70 - 72
C -
Passing 1.70 66 - 69
D +
Passing 1.30 63 - 65
D Lowest Passing 1.00 60 - 62
F Failure 0.00 00 – 59
UW Unofficial 0.00
The grade “UW” is
Withdrawal assigned by the
instructor when a
registered student has never attended a class or has ceased attending and has not submitted an official

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course withdrawal request to the Office of the Registrar. This grade is computed as an F grade in the grade-
point average.
 Make-up tests will not be administered for missed phase-tests irrespective of the circumstances.
 Failure to sit for a scheduled test and/or final exam will result in an F on the test/exam.
- A student may be excused in exceptional cases and will not get an F on the test/exam upon the
discretion of the instructor and the Department of Accounting and Finance. To be considered a valid
excuse, you must call and/or send an email to the instructor prior to the exam date informing your
incapability of sitting for the exam. Moreover, you have to present a valid and documented excuse with
a limited time period not exceeding two days after the exam date.
- Missing two phase-tests will result in a failing grade.
- Make-ups are only allowed for students missing their final exams if valid documented absences are
provided within the limited time period and above all, upon the discretion of your instructor.
- However, the instructor keeps the right at all times to either accept or reject any excuse or documents
presented by the student.

I do not discuss grades or grading policies with students under any circumstances, and there are no verbal
appeals of grades. I am glad to re-grade any quiz or exam as long as an appeal is submitted within one
week after the distribution of the grades and test papers. I will not accept any re-grade request regardless
of the reason after this time period. You must provide a statement in writing as to where and why you
believe there is a problem with your paper. Importantly, re-graded materials will be considered in their
entirety; i.e. the entire exam or assignment will be re-graded. As a result, the re-graded score may increase,
remain the same, or decrease. In addition, I reserve the right to raise or lower grades as follows:
 If you are one of the most outstanding student in the class in terms of participation and you meet the
below requirement, I reserve the right to raise your grade to the next higher sign (for example, from
B+ to A-).
 If you are one who shows exceptional improvement in performance on the second midterm and on
the final exam, I reserve the right to raise your grade to the next higher sign.

PS. The instructor reserves the right to change the frequency and dates of phase tests subject to adequate
notice period being given.

Incomplete policy
Incompletes are not given under any circumstances unless students submit all course work required and are
not able to take the final exam. Students who are unable to complete a minor portion of the course before
the term end date must make a request in writing justifying their incomplete work. Determining whether an
incomplete grade is possible or not, is left to me and the Chairperson’s discretion with due consideration
given to the amount of work accomplished, quality of work accomplished, reasonable expectations that the
student will successfully complete the work, and feasibility of completing the missing work before the end
of the eighth week of next term in which the student is enrolled.

Disclaimer
This document represents my current plans for the course at the time of writing, but is subject to change
before or during the course and at my discretion as circumstances dictate. Any changes will be
communicated promptly and clearly to the students. Students absent when announcements are made are
responsible for obtaining this information as well as lecture content.

Final Note
Students should keep this syllabus accessible at all times. It should be read at least twice at the beginning of
the semester. It should be referred to when necessary. You are responsible for its content along with the
rules and regulations in the University catalog and handbook and any verbal guidelines given in class.

Writing across the Curriculum:

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NDU considers that knowledge of a subject is both oral and written. Mastering the knowledge of a certain
course means acquiring the ability to write on subjects related to that subject matter. Writing a
research/term paper requires the appropriate command of language skills, proper terminology, and correct
use of quotations, footnotes, and references, regardless of the course and topic.

Office Hours
I will be at my office during my office hours and can see students outside my office hours by appointment.
My office is the best place for you to leave messages. If you are having trouble reaching me, you are kindly
required to send me an email mentioning your request in details.

I encourage you to come to see me during office hours if you are having difficulty with class material or if
you would like to discuss an issue of interest to you. I can help most if you come with the questions well in
advance of exams. If you need to reach me at a time outside of office hours, you should call in advance to
schedule an appointment.

If you miss a class session, you are required to ask your colleagues about the missed session and the
materials discussed in class. In addition, if you miss a class session, you cannot pass by my office to ask me
to re-explain the materials already missed. However, I encourage you to read the materials by your own and
get the help of a colleague in your class. Then if you have any question, you are most welcome to pass by
my office and I will answer all your questions. At the end, you will be fully responsible over any materials
discussed, any problem solved and any homework or assignment given during your absence.

Corporate connections
The course brings excellent "real-world" applications and uses numerical examples from existing public
companies to clarify the topics under investigation and to help students establish the foundation they will
need for future success in business. Students are encouraged to attend conferences organized by FBAE-
DAF and youth programs organized by the institute of Bassel Fuleihan.

International dimensions
Financial Accounting, 17e, recognizes the curricula guidelines detailed in AACSB standards for business
accreditation by connecting selected questions in the text and the testbank to six of the general knowledge
and skill guidelines found in the AACSB standards. Besides it emphasizes internationally recognised
accounting practices and standards and highlights ethical issues faced by accountants.

Social aspects (Learning to work together)

Students should be able to effectively work as a member of a group or team and appropriately respond to
situations by examining the relationship between self, organization, community and environments. In-class
assignments are appropriately tailored to raise the sense of team and group work.

Contribution of research
Not required.

Important class rules and academic misconduct

Hard work is required; while understanding that we all are busy with school, work, and family, your
decision to register for this course is an indication that you have made it a high priority. Thus, extensions of
assignment due dates are given only in extreme situations (death of a close family member, hospitalization,
etc.) and require documentation on your part. Otherwise, due dates are fixed and non-negotiable. All

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assignments should be submitted on or before the assigned due date. If the homework is emailed, it must be
received before the start of the class in which it is due. Assignments past the due date will not be accepted.
Unexcused assignments submitted after the due date will not be accepted.

Student should attend all classes on time. Late comers are not allowed. A pattern of absences, whether
authorized or not, and even below the maximum number (specified below), may alter one's grade
substantially. No absence absolves a student from the responsibility of acting upon the material presented
during his/her absence. As per the University regulation, the maximum number of absences for classes that
meet on MWF is 6 and 4 for classes meeting on TTH (2 hrs per credit course). For class administration
purposes, students failing to attend regularly will be warned according to the following scheme:

 Missing 4 sessions (MWF) or 2 sessions (TTH)  Verbal Warning

 Missing 5 sessions (MWF) or 3 sessions (TTH)  Written Warning
 Missing above 6 sessions (MWF) or above 4 sessions (TTH)  Automatically fail the course
unless you withdraw first.

Students should attend and leave the class on time. If the instructor doesn’t show up in the first 10 minutes,
they can leave the class. I certainly consider attendance and participation if a student is in serious trouble. In
other words, if you are failing the course and have not been attending, I don’t see why I need to be
sympathetic. The reverse is true: if you are doing poorly and have attended every class, I will give you as
much benefit as I can while still being fair to those who scored higher than you. Active class participation is
encouraged and will reflect a portion of your grade. Participation includes in-class discussion, in-class
activities, and being prepared to answer questions in class. If you don’t volunteer regularly to answer
questions in class, I may begin to call you directly. Class participation points will be awarded for the
frequency and quality of discussion and professionalism of your conduct (respecting all classmates and their
contributions, and refraining from conduct that is distracting).

These actions are necessary. Mobile phones should be turned off and out of sight (i.e. not face-up on the
desk but preferably inside purses, backpacks, briefcases, etc. or face down on the desk). Phones may not be
answered. Students must attend class with the required material (i.e. original textbook, financial calculator,
notebook, pens, etc.). Students must come on time. Once in class, students are expected to remain in class
for the entire period. English must be the only language spoken in class at all times. Students must check
their NDU email daily as this is the means used to communicate. Students will receive notice via NDU
email when announcements are posted on the course's Blackboard.

CELL PHONE CALLS, SMS, CHATTING, LATE ARRIVALS & STEPPING OUT OF CLASS:

These occurrences are inappropriate. Do not use your mobiles in class. Do not allow your cell phone to ring
during class. Do not arrive late for class. Do not step out of class while class is in session. Your classmates
and professor would be distracted if these interruptions occur.

Moreover, Notre Dame University – Louaize is committed to a policy of honesty in all its operations,
especially those pertaining to academic matters. Academic and/or disciplinary penalties for misconduct in
academic affairs are implemented according to the policies and guidelines of NDU. It is the student's
obligation to be aware of his/her responsibilities. The following are extracts of NDU’s policies regarding
academic integrity:

Students are expected and encouraged to be honest and to maintain the highest standards of academic
integrity in their academic work and assignments at the University. They shall refrain from any academic
dishonesty or misconduct including but not limited to:

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 Plagiarism; that is, the presentation of someone else‘s ideas, words or artistic, scientific, or technical
work as one‘s own creation. Also, paraphrasing, summarizing, as well as well as direct quotations are
considered as plagiarism, if the original source is not properly cited.
 Cheating.
 Assisting in cheating.
 Substituting a student in the taking of an examination.
 Substituting examination booklets.
 Submitting the same work for more than one course and the like.
 Submitting papers written by others.
 Receiving or providing unauthorized help or assistance in any academic work or assignment.
 Intentional violation of program and degree requirements and regulation as established by the University.
 Dishonest reporting of computational, statistical, experimental, research, results, or the like.

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