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© All Rights Reserved. This document has been authored by Professor R Narayanaswamy and is permitted for use only within the course "Introduction to Accounting - 1" delivered in the online course format by IIM Bangalore. No part of this document, including any logo, data, illustrations, pictures, scripts, may be reproduced, or stored in a retrieval system or transmitted in any form or by any means – electronic, mechanical, photocopying, recording or otherwise – without the prior permission of the author. Introduction to Accounting – Part 1 R. Narayanaswamy Course Syllabus Introduction to Accounting – Part 1

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Page 1: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

CourseSyllabus

IntroductiontoAccounting–Part1

Page 2: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

WelcometoAC101.1x

Everyonedoesaccountingofsomekind,suchasbrowsingbankstatements,preparingabudgetforbuildingahouse,orcountingthecostofabirthdayparty.Individualswhowanttobeaccountants,managersorentrepreneursshouldbeableworkwithfinancialreports.

IntroductiontoAccountingisathree-partcourse.IntroductiontoAccounting–Part1startsfromscratch.Itbeginswithanoverviewofbusinessorganizationsanddescribestherolethataccountingplaysinmanagingthem.Itexplainstheeffectofcommonbusinesstransactionsonthefinancialstatements.Thenitdemonstrateshowtoapplythedouble-entrysystemforprocessingtransactions.Next,itdevelopstheprinciplesofmeasuringperformanceandtherelatedmechanics.Thenitdescribestheaccountingsystemfortradingorganizations.Thecourseendswithanoutlineoftheproceduresforpreparationofthefinancialstatements.

IntroductiontoAccounting–Part2describestheprinciplesandstandardsusedtorecognize,measureandpresentspecificitemsinthefinancialstatementssuchasreceivables,inventories,tangibleandintangibleassets,investments,liabilitiesandshareholders’equity.

IntroductiontoAccounting–Part3dealswiththeanalysisandinterpretationofthefinancialstatements:thestatementofprofitandloss,balancesheetandcashflowstatement.

Theinstructor,R.Narayanaswamy,hasbeenteachingattheIndianInstituteofManagementBangaloresince1986andhaswrittenextensivelyonaccounting,auditingandgovernance.Histeachingmethodutilizesreal-worldcasesandbusinesssituationstomakeaccountingstudent-friendly.

Page 3: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

COURSEAGENDA

Week SectionName TopicsCovered StartDate RecommendedCompletionDate

0 INTRODUCTIONTOTHECOURSE

ABOUT:ACCOUNTING

ABOUT:COURSE

12/APR/2016 19/APR/2016

1 ACCOUNTINGBASICS

BUSINESSORGANIZATIONS

WHATISACCOUNTING?

USERSOFACCOUNTINGINFORMATION

ACCOUNTINGPRINCIPLES,STANDARDSANDREGULATIONS

12/APR/2016 19/APR/2016

2 UNDERSTANDINGFINANCIALSTATEMENTS

ACCOUNTINGEQUATION

FINANCIALSTATEMENTS

19/APR/2016 26/APR/2016

3 TRANSACTIONPROCESSING

THEACCOUNTINGSYSTEM

DOUBLE-ENTRYACCOUNTING

CORRECTINGERRORS

26/APR/2016 03/MAY/2016

4 MEASURINGINCOME

INCOMEMEASUREMENTBASICS

INCOMEMEASUREMENTPRINCIPLES

03/MAY/2016 10/MAY/2016

Page 4: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

INCOMEMEASUREMENTMECHANICS

ACCOUNTINGFORTRADINGACTIVITIES

5 COMPLETINGTHEACCOUNTINGCYCLE

WORKSHEET

YEAR-ENDPROCEDURES

10/MAY/2016

17/MAY/2016

TIMECOMMITMENT

CourseLength

• 5Weeks• EachweekisreleasedacrosstheglobeonTuesdayat03:30hUTC.

WeeklyCommitment4-5hoursperweek.Thisincludesthetimespentingoingthroughthecoursematerialsandtakinguptheassessments.

Page 5: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

GRADING&CERTIFICATION

GradingScheme

Youwillbeevaluatedcontinuouslythrough-outthecourse.Thetablebelowtellsyouthepercentageweightgiventoeachtopic(orweek)

Week SectionName Weight(%)

0 INTRODUCTIONTOTHECOURSE 0

1 ACCOUNTINGBASICS 8

2 UNDERSTANDINGFINANCIALSTATEMENTS 12

3 TRANSACTIONPROCESSING 30

4 MEASURINGINCOME 30

5 COMPLETINGACCOUNTINGCYCLE 20

TOTAL 100

Gradesarebasedonyourscore,asgiveninthetablebelow:

Score Grade

95-100 A+

80-94 A

60-79 B

40-59 C

<40 F(FAIL)

Youwillbedeemedpassinthecourse,ifyouobtain40%overall.

Page 6: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

ClicktheIntroductiontoAccounting1courseenrolmentpagetopursueaverifiedcertificate.

ASSESSMENTS

GradedAssessmentsInstructionsSub-sectionsthatincludegradedassessmentswillhaveaTimericon alongwiththeassessmentduedate.Pleaseensurethefollowing:

• ClicktheSavebuttontosaveyouranswer.Theseanswerswillnotbegradedatthisstage.

• ClicktheCheckbuttonattheendofeveryquestiontorecordyourchoiceandgetyouranswergraded.

Note:

• Pleasecheckthenumberofattemptsspecifiedforeachassessment.

https://www.edx.org/course/statistics-business-i-iimbx-qm101-1x
https://www.edx.org/course/introduction-accounting-part-1-basics-iimbx-ac101-1x-0
Page 7: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

DISCUSSION

AllregisteredparticipantsofaMOOConedXwillhaveaccesstoacourse-specificonlinediscussionforum.Participationinsuchforumsisencouragedbecauseitcontributessignificantlyintheformofpeerlearning.Discussionforumsarecommonlyusedinonlinecoursestoprovidelearnersanopportunitytoreflecton,discussandshareknowledgegainedfromtheonlinecontent.Participationintheseforumsisstronglyencouragedbythecoursestaff.DownloadtheIIMBxDiscussionForumGuidelinesPDFformoreinformation.

GETTINGHELP

Forcourse-relatedquestions,usethediscussionforums.

ForgeneraledX-relatedqueries,visitStudentFAQsontheedXwebsite.

Foranytechnicalissues,usetheHelpbuttononedXcoursepage(screenshotattachedbelow).

https://www.edx.org/about/student-faq
Page 8: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

Page 9: Introduction to Accounting – Part 1 - edX · 0 INTRODUCTION TO THE COURSE 0 1 ACCOUNTING BASICS 8 ... Introduction to Accounting – Part 1 R. Narayanaswamy FOLLOW US Follow us

© AllRightsReserved.ThisdocumenthasbeenauthoredbyProfessorRNarayanaswamyandispermittedforuseonlywithinthecourse"IntroductiontoAccounting-1"deliveredintheonlinecourseformatbyIIMBangalore.Nopartofthisdocument,includinganylogo,data,illustrations,pictures,scripts,maybereproduced,orstoredinaretrievalsystemortransmittedinanyformorbyanymeans–electronic,mechanical,photocopying,recordingorotherwise–withoutthepriorpermissionoftheauthor.

IntroductiontoAccounting–Part1R.Narayanaswamy

FOLLOWUS

FollowusonTwitter:@iimbxonline

OnFacebook:iimbxonline

http://www.twitter.com/iimbxonline
http://www.facebook.com/iimbxonline

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