King Fahd University of Petroleum & Minerals
College of Industrial Management
Department of Accounting & Management Information Systems
COURSE SYLLABUS FOR ACCT 201: PRINCIPLES OF ACCOUNTING I
Spring Semester 2005 (042)
Professor: Dr. ABDULLAH D. AL-HARBI Class Hours: UT 8:00-8:50AM, S 2:10-
UT 9:00-9:50AM, U 2:10- 4:10PM &
UT 10:00-10:50AM, M 2:10-4:10PM
Office: 24 / 219 Office Hours: UM 11:00AM– 1:00PM and by appointment
Telephone: 860 –1604 E – Mail: firstname.lastname@example.org
This course deals with corporate financial accounting. It introduces the student to the
accounting cycle used by a service enterprise, and a merchandiser. The emphasis is on
recording and analyzing transactions, and interpreting corporate financial statements. Typical
coverage includes accounting for cash, receivables, uncollectibale accounts, inventory
valuations; transactions involving plant assets, including depreciation and intangible assets.
Provide business students with an understanding of accounting principles and
practices used in analyzing and interpreting financial statements. Provide
accounting majors with a strong foundation for intermediate and advanced
After completing Principles of Accounting I, students should be able to:
1. State the accounting equation and define each of its elements.
2. Describe the financial statements and how they interrelate.
3. Use the rules of debit and credit to analyze and summarize the financial effects of
4. Understand the principles and concepts governing the preparation of financial
Accounting Principles (6th Edition) by Weygandt, Kieso & Kimmel (2002); John Wiley & Sons.
INC. Additional material outside the main text may be prescribed from time to time by the
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EXAMINATIONS AND GRADING POLICY:
The semester grade will be calculated based on three exams, a number of quizzes, and class
and homework assignments. The lowest grade from among the quizzes may be dropped. The
quizzes and the assignments will be weighted to approximate 20% of the total grade.
Performance Assessment: Your course grade will be determined as follows:
Quizzes and Class Assignments 20%
First Major Exam 25%
Second Major Exam 25%
Final Examination 30%
1.The reading and homework assignments are chosen with the intention that at least three
hours of individual study per the number of classroom contact will be required for adequate
performance. Therefore, you should be prepared to spend at least nine hours per week on this
course in addition to classroom time. If you find the assigned problems are not sufficient to
give you confidence in your ability to handle the material covered in a chapter you may
attempt some of the problems that were not assigned.
2.Experience clearly indicates that doing (or not doing) assigned homework problems is a
major determinant of the level of achievement in this course. Neglect of the subject for one or
two weeks followed by “cramming” will simply not work. You will probably come to the same
conclusion through your own experience in the course. Your efforts regarding homework and
class assignments will likely be justly rewarded in terms of the marks you receive on your
quizzes, majors, and final examination.
• University regulations relating to attendance will be strictly applied.
• Students MUST attend each and every class on time and disturbance will not be
Once the door is closed and the lecture or tutorial has commenced no
student is allowed to enter the class room and disturb students. This rule will
be enforced very strictly and no excuses will be accepted at all.
• A student who accumulates nine (9) unexcused absences will receive a “DN” grade in
• For each single unexcused absence your “Class Assignment” marks will be reduced by
1.The purpose of the quizzes is to ensure that you keep up to date with the material and to
help you identify any weaknesses before the majors and the final examination. The majors
may be held outside normal class hours and will cover the chapters indicated.
2. All testing may include material covered in class as well as in the text and any
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supplemental course material that may be prescribed. The quizzes, majors, and final
examination will be closed book. The only items students may utilize to complete the
quizzes, majors, and final examination will be normal writing instruments (pencils, pens)
and simple noiseless calculators. Programmable calculators and electronic
dictionaries will not be permitted during exams. Further details about any
testing, if necessary, will be provided in the class preceding the testing date. There
will be no make-ups for missed quizzes and major examinations.
3.Copying the work of other students either for home assignments, class assignments,
semester test or final examination will be strictly dealt with and university rules will strictly
4. Class assignments, quizzes, and exams will be subject to university regulations.
Cheating on course work of any kind will result in an F grade for the course.
1.Students are required to attend both class and laboratory sessions, and on time. Attendance
registers will be maintained for both class and laboratory sessions. The University’s regulations
regarding attendance are applicable to this course. Thus, any student exceeding nine
absences for both class and laboratory sessions will be awarded a “DN” grade for this course.
2.You should attend both class and laboratory sessions with your textbook, notebook, and a
simple noiseless calculator.
3.Like any other discipline, accounting is learned and appreciated through practice. This
practice requires your careful reading of the chapter material before class and an honest
effort to complete assigned problems prior to their discussion in class. Review of
exercises and problems in class will emphasize the key technical areas and clarify areas of
uncertainty. It is your responsibility to be prepared for all class work and discussions. If you
are not prepared, you will not benefit from the classroom learning experience.
4.The workload of this course is not light. Work consistently throughout the semester. If
you are having difficulty with any particular topic, ask for additional assistance as soon as
possible. Do not let it slide until the end of the course. Most topics build on material previously
5.If you are unable to attend a class it is your responsibility to determine whether or not
additional work was assigned or covered. Your odds of passing this course are greatly
enhanced by regular class attendance.
6.The class schedule is tentative. Changes (such as adding or deleting homework problems,
timing of chapter coverage) may be made by the instructor as the course progresses.
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Week Chapter Topic/Readings Home Work
1 1 Accounting In Action E1, E4, E6, P4B
2 2 The Recording Process E5, E8, P2A
3 3 Adjusting The Accounts E3, E9, P1A
4 4 Completion the Accounting Cycle E1, E6
5 4 Chapter 4 (continued) P4A
Thursday March, 17
First Major Exam, (Chapters 1-4)
(Building #10 in the Auditorium)
6 5 Accounting for Merchandising E2, E4, E6, P5A
7 6 Inventories E1, E3, E6, P1A, P4B
8 7 Accounting Information Systems E1, E4, P5A
9 8 Internal Control and Cash E2, E7, P2A
10 8 Chapter 8 (continued)
Thursday April, 21
Second Major Exam, (Chapters 5-8)
(Building #10 in the Auditorium)
11 9 Accounting for Receivables E2, E4, E10, P1A
12 9 Accounting for Receivables (continued)
13 10 Plant Assets, Natural Resources, and E4, E8, P2A
14 11 Current Liabilities and Payroll Accounting E5, P1A, P4A
15 12 Accounting Principles E2, E3, P1A
(Covering Chapters 9 – 12
Date will be determined by the
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An attempt will be made in this course to cover the following perspectives:
Perspective Chapter of the text, subject, or activity
Ethical issues Chps.:1 & 8. Ethical responsibilities of accountants; internal control
Global issues & Chps.: 6 & 10. Inventories; Plant Assets, Natural Resources, and Intangable
Global issues: An attempt is made to increase the awareness of students about
the issue of globalisation. For example, harmonisation of accounting practices
throughout the world is a major issue facing the accountants at present. The
role being played by the International Accounting Standards Committee in
harmonizing accounting standards is highlighted. Importantly, the use of
financial highlights and annual financial reports of foreign companies is an
integral part of this foundation course.
Political Issues: Part of the theme of this course is to draw students’ attention
and increase their awareness to the fact that society as a whole, through
government and public groups (e.g. tax authorities, regulatory agencies,
lawyers, economists, underwriters, advisers, consumers’ groups, customers,
charities, and environmental groups) has become one of the biggest and most
important users of accounting information.
Legal and Chp. 1 & 11: Accounting In Action, Current Liabilities and Payroll Accounting
issues The students are made aware of the organizations and institutions in Saudi
Arabia and worldwide that directly or indirectly influence generally accepted
accounting principles (GAAP), polices and practices e.g. large international
certified public accounting firms, Saudi Arabia Accounting Association, the U.S.
Financial Accounting Standard Board (FASB), The American Institute of
Certified Accountants (AICPA), the Institute of Chartered Accountants in
England and Wales (ICAEW), the Securities and Exchange Commission (SEC).
This course exposes students to the legal implications of property taxes,
product warranty, contingent liabilities and debt contractual agreements.
Information Chp 7.: Accounting information systems; link to internet relevant sites.
technology Assignment work
This course provides an overview of the interrelationship between accounting
and information technology. The course identifies the basic elements of
computer systems, describes the microcomputer system and explains, for
example, how the general ledger software, spreadsheet and the internet are
used in data collection, recording, analysis and reporting.
Written Assignment work, quizzes, majors
Oral Lab classes, group work
Analytical, Parts-whole, compare and contrast, problem solving , Decision making,
critical, Assignment work, quizzes, majors, lab classes, lectures
Quantitative Assignment work, quizzes, majors, lab classes
Activities that Lab classes
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