BBA Program
ACT201 – Financial Accounting
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A. Course General Information:
Course Code ACT201
Course Title Financial Accounting
Credit Hours 3
Contact Hours/Week 3
Category School Core (Business Foundation Course)
Type Mandatory in the BBA Program
Prerequisites None
Co-requisites None
Semester/Trimester Summer, 2023
Thu/Sat: 9:30 am – 10:50 am (Section 5)
Class Time
Thu/Sat: 11:00 am -12:20 pm (Section 8)
Class Location UB20702
Dr. Suman Paul Chowdhury, Mr. Saif Hossain, Dr. Md. Kausar Alam,
Instructor’s Name
Dr. Md. Arif Hossain Mazumder, Mr. Tausif Bari & Ms. Afra Anjum
Office Location UB20616
spc@[Link]; saifhossain@[Link];
Email Address [Link]@[Link]; [Link]@[Link],
[Link]@[Link]; [Link]@[Link]
Thu/Sat: 12:30 pm – 01:50 pm (Section 5)
Consultation Hours
Thu/Sat: 02:00 pm – 3:20 pm (Section 8)
Mobile Number 01xxxxxxxxx
Course Coordinator Dr. Md. Kausar Alam
B. Course Catalog Description:
Financial Accounting is designed to develop student’s knowledge and skills to manage the financial
affairs of individuals, communities and businesses. This course provides a basic knowledge of
accounting to the students, which is a prime requirement for any business graduate in today’s
context. It intends to provide an understanding of the four key financial statements (balance
sheet, income statement, statement of shareholder’s equity and statement of cash flows) used in
businesses and how they are prepared by using Financial Reporting Standards. In addition to
providing an introduction to financial reporting, this course will also be a foundation for those
who may later wish to specialize in accounting.
C. Rationale of the Course:
This business course of foundation-level is mandatory for all the learners of the BBA program. This
is because business graduates are expected to have sound understanding of preparing and
interpreting financial statements irrespective of their area of specialization. The course acts as
one of the building blocks of knowledge for two core business functions – Accounting and Finance
– and its successful completion will prepare learners for subsequent courses of these two areas.
The course is designed to help learners develop these competencies: knowledge, skills and
abilities.
D. Course Objectives (COs):
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The major objectives of this course are to:
1. Familiarize with the accounting environment and users of accounting information.
2. Develop ability to apply accounting vocabulary, principles and concepts.
3. Explain the differences between cash and accrual basis of accounting.
4. Develop ability to analyse transactions and prepare journals, ledgers, trial balance and
worksheet for service and merchandising businesses.
5. Build capability to prepare financial statements – Income Statement, Owner’s Equity
Statement, Cash flow Statement and Balance Sheet.
E. Course Learning Outcomes (CLOs):
On successful completion of the course, learners should be able to:
SL. CLO Description
CLO1 Explain and recognize elements of financial statements and record transactions
using accounting standards.
CLO2 Develop an understanding of the accounting cycle of service and merchandising
business.
CLO3 Identify the major characteristics of different forms of businesses including
corporations and differentiate between their equity structures.
CLO4 Analyze the contents of the corporate financial reports including that of
corporations.
CLO5 Communicate accounting information accurately and confidently.
F. Mapping of Course Learning Outcomes (CLOs) with Program Learning Outcomes (PLOs):
PLO1 PLO2 PLO3 PLO4 PLO5 PLO6 PLO7 PLO8
CLO1 ✔ ✔
CLO2 ✔ ✔
CLO3 ✔ ✔
CLO4 ✔ ✔
CLO5 ✔ ✔
G. Course Plan specifying CLOs, co-curricular activities (if any), Teaching-Learning and
Assessment Strategies mapped with the CLOs:
Week Topic Teaching- Assessment Corresponding
Learning Strategy CLOs
Strategy
1 ● Accounting in Action Lecture, Assignment, CLO1, CLO3
ᵠ Introduction Discussions, Quiz,
ᵠ Explain what accounting is. Problem solving Midterm
2
ᵠ Identify the users and uses of Exam, Final
accounting. Exam
ᵠ Explain the accounting equation
and its components
ᵠ Analyze the effects of business
transactions
2 ● Accounting in Action (continued) Lecture, Assignment, CLO1, CLO3
ᵠ Analyze the effects of business Discussions, Quiz,
transactions Problem solving Midterm
ᵠ Understand the four financial Exam, Final
statements and use of these four Exam
statements
● The Recording Process
ᵠ Define debits and credits and
explain their use in recording
business transactions
ᵠ Identify the basic steps in the
recording process
ᵠ Explain journal and how it helps
in the recording process
3 ● The Recording Process (continued) Lecture, Assignment, CLO1, CLO2,
ᵠ Understand a ledger and how it Discussions, Quiz, CLO5
helps in the recording process Problem solving Midterm
ᵠ Define a trial balance and explain Exam, Final
its purposes Exam
ᵠ Understand the process of
correcting errors and omissions
4 ● Adjusting the Accounts Lecture, Assignment, CLO1, CLO2,
ᵠ Explain the time period Discussions, Quiz, CLO5
assumption. Problem solving Midterm
ᵠ Define the accrual basis of Exam, Final
accounting and reasoning for Exam
adjusting entries.
ᵠ Identify the major types of
adjusting entries.
ᵠ Analyze the effects of business
transactions on the accounting
equation
3
5 ● Adjusting the Accounts (continued) Lecture, Assignment, CLO1, CLO2,
ᵠ Analyze the effects of business Discussions, Quiz, CLO5
transactions on the accounting Problem solving Midterm
equation (continued) Exam, Final
● Completing the Accounting Cycle Exam
ᵠ State the required steps in the
accounting cycle
ᵠ Prepare a worksheet
Lecture,
ᵠ Explain the process of closing the
books Discussions, CLO1, CLO2,
ᵠ Describe the content and Problem solving CLO5
purpose of a post-closing trial
balance
6 ● Completing the Accounting Cycle Lecture, Assignment, CLO1, CLO2,
(continued) Discussions, Quiz, CLO5
ᵠ Identify the sections of a Problem solving Midterm
classified balance sheet Exam, Final
ᵠ Explain the approaches to Exam
preparing correcting entries
7 Midterm Examination
8 ● Accounting for Merchandising Lecture, Assignment, CLO1, CLO2,
Operations Discussions, Quiz, Final CLO3
ᵠ Identify the differences between Problem solving Exam
service and merchandising
companies
ᵠ Explain the recording of
purchases and sales under a
perpetual and a periodic
inventory system
ᵠ Distinguish between a multiple-
step and a single-step income
statement
ᵠ Explain the computation of Cost
of Goods Sold and importance of
gross profit
9 ● Accounting for Long-term Assets Lecture, Assignment, CLO1, CLO4,
o Describe how the cost principle Discussions, Quiz, Final CLO5
applies to plant assets Problem solving Exam
ᵠ Distinguish between revenue and
capital expenditures, and explain
the entries for each
ᵠ Explain the concept of
depreciation
ᵠ Compute periodic depreciation
using different methods
4
10 ● Organizations and Capital Stock Lecture, Assignment, CLO3, CLO4,
ᵠ Identify the major characteristics Discussions, Quiz, Final CLO5
of a corporation Problem solving Exam
ᵠ Record the issuance of common
stock
ᵠ Record the issuance of preferred
stock
ᵠ Differentiate between paid-in
capital and retained earnings
ᵠ Prepare a stockholders’ equity
section
11 ● Accounting for Limited Companies Lecture, Assignment, CLO1, CLO3,
ᵠ Explain what is meant by Discussions, Final Exam CLO4
corporate entity Problem solving
ᵠ Identify the nature of capital
invested in companies and the
returns available on this capital
12 ● Accounting for Limited Companies Lecture, Assignment, CLO1, CLO4,
(continued) Discussions, Final Exam CLO5
● Prepare financial statements for Problem solving
companies
● Cash Flow Statement
ᵠ Usefulness of the statement of
cash flows
ᵠ Classification of cash flows
Significant noncash activities
ᵠ Format of the statement of cash
flows
ᵠ Indirect and direct methods
ᵠ Free cash flow
H. Learning Materials:
● Recommended Reading:
ᵠ Weygandt. J.J., Kimmel, P. D & Kieso, D.E., Accounting Principles, 13th ed, John Wiley &
Sons (Required TEXTBOOK)
ᵠ Britton, A., & Waterstone, C., Financial Accounting, 4th ed, Prentice Hall (TEXTBOOK)
● Supplementary Readings:
ᵠ Introduction to Financial Accounting, Horngren, Sundem, Elliott & Philbrick, 9th Edition,
Pearson Education (TEXTBOOK)
I. Assessment and Evaluation:
● Assessment Strategy:
1. Attendance in Class Sessions (5%): Class attendance is mandatory (as per BRACU policy).
Learners are strongly encouraged to participate actively in class discussions. Points for
attendance will be given as per BRACU policy – stated below:
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Attendance Percentage Marks
90% to 100% 5.00 out of 5.00
85% < 90% 4.00 out of 5.00
80% < 85% 3.00 out of 5.00
75% < 80% 2.00 out of 5.00
70% < 75% 1.00 out of 5.00
Below 70% 0.00 out of 5.00
(Course instructor’s approval required to take the final exam)
2. Quizzes (15%): Two out of three quizzes will be considered for grading purposes. The
syllabus, for the respective quizzes will be announced in the classes, which usually consists
of the topics covered in classes prior to the date of the quiz. Quiz weighs 15% of the total
marks. The duration of each quiz will be 10 to 20 minutes. Specific quiz time will be
announced during the class time and scheduled at least one week before the quiz.
3. Assignment (Individual and Group) (10%): Various problems related to the course will be
assigned during the semester to be solved individually and as a group. Assignments should
be handwritten and submitted timely. Delay in submission will result in the cancellation
of the allotted marks.
4. Midterm (30%): Midterm exam will take place during the midterm week. It is a 60-70
minutes exam and the syllabus includes the concepts discussed up to the middle of the
semester. The exam will comprise of short answer questions and problem-solving. There
will be no makeup midterm unless there is a valid reason and that again is at the discretion
of the instructor and the Registrar’s Office.
5. Final Exam (40%): Final exam will be held at the end of semester to test students’
knowledge and understanding of the issues discussed over the semester. The test
question will include some combination of short, broad, and problem-solving questions.
There will be no makeup final exam unless there is a valid reason and that again is at the
discretion of the Registrar’s Office.
● Marks Distribution:
Activities % of the Total Assessment
Class Attendance and Participation 5%
Quizzes (best 2 out of 3) 15%
Assignment (individual and group) 10%
Midterm Exam 30%
Final Exam 40%
Total 100%
● Make-up Procedures:
Learners are not encouraged to give make-up mid-term except on certain special
circumstances.
Make-up examinations will only be allowed to the learners with extreme medical condition
OR death in the immediate family during the semester. (Recommendations from 30th
Syndicate and 69th Academic Council, BoT approved in the 27th meeting)
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Learner must notify in writing before the exam if he/she is going to miss the exam and needs
to sit for a make-up exam. Learner needs to apply to sit for the make-up exam by filling out
the appropriate form available at the office, take the necessary approval and submit the form
to the registrar office with required fees for the make-up exam.
● “I” and “W” Grades:
A grade of “I“ (Incomplete) will be granted only as a result of most extreme circumstances -
beyond a learner’s control and only after stringent verification of the circumstance and
approval. A grade of “I” is not given in lieu of an “F” or any other passing grade. Any learner
who discontinues attending class, and who does not officially drop the course/ withdraw from
the university, will receive a grade of “F”.
● Academic Integrity:
Although group-study is encouraged strongly, all learners/groups are expected to complete
all assignments individually. As such, one may not share, lend or borrow another learner’s
(group’s) work in any manner - either on paper, by computer or by word of mouth. Any
cheating, plagiarism and other forms of scholastic dishonesty or misconduct will result in the
strictest disciplinary action - according to the BRACU regulations (please refer to BRACU
learner’s Handbook).
J. Grading Policy:
Letter grades for the course will be based on the following scale - as specified in BRACU catalog.
Range of Marks Grade GPA Remarks Range of Marks Grade GPA Remarks
97 to 100 A+ 4.0 Excellent 60 to <65 C 2.0 Fair
90 to <97 A 4.0 “ 57 to <60 C‐ 1.7 “
85 to <90 A‐ 3.7 “ 55 to <57 D+ 1.3 “
80 to <85 B+ 3.3 “ 52 to <55 D 1.0 Poor
75 to <80 B 3.0 Good 50 to <52 D‐ 0.7 “
70 to <75 B‐ 2.7 “ <50 to 0 F 0.0 Failure
65 to <70 C+ 2.3 “
K. Course Coordinator:
Md. Kausar Alam, PhD
● Instructor’s Expectations of Learners:
Learners are expected to strive for excellence in acquiring knowledge – through attending all
classes from start to end; participating actively in class discussions; preparing for class lectures
in advance; spending at least two hours for each class-hour on, self-study, completion of
assigned tasks and preparation for class, quiz, exam, presentation, etc.; and completing and
submitting required tasks on-time.
Learners are also expected to maintain a classroom environment conducive to learning, be
respectful of others’ opinions and be completely honest by implementing the highest ethical
standards. It is also expected that learners will uphold this principle in all their future
endeavours, including their career activities.
● Learner Disability:
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Any learner who has a disability that prevents the fullest statement of his/her abilities should
contact the instructor personally. All efforts will be made to devise the appropriate
accommodation in order to facilitate learner’s successful completion of the course.
L. Disclaimer:
Every effort will be made to ensure that the information contained in this document is adhered
to; however, it is subject to change. Changes will be notified in class, in advance. Learners are
encouraged to check with the instructor if there are any doubts. It is the learner’s responsibility
to be informed.