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PRINCIPLES OF FINANCIAL ACCOUNTING ACCT 100 Instructor : Asad A. Alam/Ayesha Bhatti Office No.

: 288 Ext No : 8096 Email : aalam@lums.edu.pk, ayesha.bhatti@lums.edu.pk Office hours: Semester : Fall 2011-12 : Section 1, 2, and 3 (Core ACF) Introduction: Welcome to the world of accounting! This course will review the accounting process leading to the preparation and presentation of financial statements in accordance with Generally Accepted Accounting Principles. An introduction to the fundamentals of financial statement interpretation will also be presented. The main emphasis of this course will be placed on the basic framework of accounting so as to provide the student with an understanding of the fundamental accounting principles and concepts. A heavy reliance will be placed on problem solving and practical analyses to achieve the aforementioned level of understanding. The tools and skills you learn in this course will help you throughout your professional career and your life Course Objective: In this course, my aim is to help you learn the key concepts of Accounting, preparation of financial statements and to enable you to analyze financial statements. Expectations From You:  Prepare for each lecture by reading the prescribed material beforehand  For practical sessions, please attempt to complete the questions before the session  Assignments must be handed in on time  If you are experiencing difficulties with the course—speak with the instructor/ teaching assistants.  There is a large amount of material to be covered in the course, so keep up to date with your work. It will be very difficult to catch up later. What You Can Expect From Us:  We are here to help you learn and progress. We will help you gain

 Teaching assistants will generally be your first point of contact. Assignments Quizzes (announced and unannounced) Class Attendance & participation Mid-term Final Exam 15% 25% 10% 20% 30% Please note that no quiz will be dropped.  Recommended Readings: Text Book: Principal Of Financial Accounting Larson Wild and Chiappetta 17th Edition. You are required to make an appointment before hand. the mean of the class in the missed quiz or the mean of the students’ other quizzes. and his teaching assistants will be available to help you at specified times. Under extenuating circumstances.an understanding of the key concepts and facilitate your learning Your assignments. We look forward to sharing our experience with you to enhance your learning and understanding of the course. if you are having difficulty in grasping concepts or understanding certain aspects of the course. mid-term and final examinations Grading: The following weight-age will be used for grading purposes. Alam/Ayesha Bhatti. as and when deemed necessary evaluation methodology shall include quizzes. may be used to make concepts clear. Asad A. quizzes and mid term exam will be marked and discussed with you  The instructor. Practice sessions. Teaching Methodology: Lecture method shall be the primary mode of teaching. assignments. whichever is lower will be posted for only one missed quiz. . We will be happy to arrange special tutorial sessions by request. for a missed quiz.

However. I expect you to be punctual and be in your seat before the class starts. Financial Statements. Analyzing and Recording Transactions Analyzing and Recording Transactions Chapter in the book Chapter 1 Chapter 2 Chapter 2 . Week Session Topic 1 1 2 3 2 4 5 3 6 7 4 8 9 5 10 11 6 12 13 7 14 Accounting for Receivables Accounting for Receivables Plant Assets. If you miss more than seven (7) classes. will receive an F grade. Late walk-in will be counted as a nonattendance and will lower your attendance grade.Students with less than 50% marks overall. Natural Resources and Intangibles Chapter 9 Chapter 9 Chapter 10 Inventories and Cost of Sales Cash and Internal Controls Chapter 6 Chapter 8 Adjusting Accounts and Preparing Financial Statements Adjusting Accounts and Preparing Financial Statements Completing the Accounting Cycle Accounting for Merchandising Operations Accounting for Merchandising Operations Inventories and Cost of Sales Chapter 3 Chapter 3 Chapter 4 Chapter 5 Chapter 5 Chapter 6 Introduction to Accounting. this will not affect grades of other students. Purpose of Accounting. The remaining students will be awarded grades they would be otherwise entitled to. you will automatically get an F grade in the course.

Natural Resources and Intangibles Mid-Term Current Liabilities Long-Term Liabilities Long-Term Liabilities Accounting for Corporations Accounting for Corporations Statement of Cash Flows Statement of Cash Flows Statement of Cash Flows Analysis of Financial Statements Analysis of Financial Statements Analysis of Financial Statements Review Chapter 10 Chapter 11 Chapter 14 Chapter 14 Chapter 13 Chapter 13 Chapter 16 Chapter 16 Chapter 16 Chapter 17 Chapter 17 Chapter 17 .15 8 16 17 9 18 19 10 20 21 11 22 23 12 24 25 13 26 27 14 28 Plant Assets.