Principles of Accounting I: Course Outline and Study Guide

Course Overview

Introduction

This course, Accounting I (BA 251), at Monmouth University covers both financial and managerial accounting principles. Students will learn the foundational theories, practices, and analytical techniques necessary for understanding and applying accounting concepts in business contexts.

Main Topics Covered

• Financial Accounting: Principles, applications, and the four basic financial statements

• Managerial Accounting: Job-order costing, activity-based costing, and cost behavior analysis

• Analytical Procedures: Interpretation and analysis of financial statements

Course Objectives

Learning Outcomes

• Recognize the Four Basic Financial Statements: Income statement, balance sheet, statement of retained earnings, and statement of cash flows

• Understand Accounting Concepts: Grasp the principles underlying the accumulation and presentation of financial information

• Analyze and Interpret Financial Statements: Use relevant financial information to make informed business judgments

• Apply Costing Systems: Implement job-order and activity-based costing methods for product costing

• Determine Cost Behavior: Identify fixed, variable, and mixed cost patterns

Required Textbook and Online Resources

• Textbook: Financial & Managerial Accounting, 8th Edition (Miller-Nobles and Mattison), Pearson

• Online Homework: MyLab platform for chapter homework, quizzes, and assignments

• Additional Resources: Lecture notes, study guides, and tutorials available on eCampus

Course Structure and Assessment

Grading Components

• Attendance & Participation: 2%

• In-class Exercises: 3%

• Individual Project (Annual Report Analysis): 10%

• Homework: 15%

• In-class Quizzes: 10%

• Exams (4 total): 60% (15% each)

Grade Scale

Grade	Points Earned
A	95% or more
A-	89% - 94%
B+	86% - 88%
B	82% - 85%
B-	79% - 81%
C+	76% - 78%
C	72% - 75%
C-	69% - 71%
D+	66% - 68%
D	62% - 65%
D-	59% - 61%
F	Less than 59%

Course Schedule

Weekly Topics

• Week 1: Accounting and the Business Environment

• Week 2: Recording Business Transactions

• Week 3: Completing the Accounting Cycle

• Week 5: Merchandise Inventory

• Week 6: Plant Assets, Natural Resources, and Intangibles

• Week 7: Financial Statement Analysis

• Week 9: Introduction to Managerial Accounting

• Week 10: Job Order Costing

• Week 11: Lean Management Systems and Activity-Based Costing

• Week 14: Cost-Volume-Profit Analysis

Key Accounting Concepts

Four Basic Financial Statements

• Income Statement: Reports revenues and expenses to show net income or loss

• Balance Sheet: Shows assets, liabilities, and equity at a specific point in time

• Statement of Retained Earnings: Explains changes in retained earnings over a period

• Statement of Cash Flows: Summarizes cash inflows and outflows from operating, investing, and financing activities

Costing Methods

• Job Order Costing: Assigns costs to specific jobs or batches

• Activity-Based Costing: Allocates overhead based on activities that drive costs

Cost Behavior Patterns

• Fixed Costs: Remain constant regardless of activity level

• Variable Costs: Change in direct proportion to activity level

• Mixed Costs: Contain both fixed and variable components

Registration Instructions for MyLab

To register for BA 251-04 Fall 2026, follow these steps:

• Go to https://mlm.pearson.com/enrollment/li29057

• Sign in with your Pearson student account or create a new account

• Select an access option (prepaid code, credit card, PayPal, or temporary access)

• Select "Go to my course" and choose BA 251-04 Fall 2026_Dr. Li

Academic Integrity and Conduct

• Plagiarism and Cheating: Strictly prohibited; assignments may be checked via Turnitin

• Use of AI Tools: Not allowed for completing assignments or exams

• Classroom Conduct: Professional behavior, punctuality, and participation required

Special Accommodations

Students with disabilities should contact the Department of Disability Services to arrange for necessary accommodations. Requests must be made through official channels and are not retroactive.

Health and Wellness Support

Monmouth University provides resources for health, wellness, and counseling. Students are encouraged to utilize these services for support throughout the semester.

Summary

This syllabus provides a comprehensive overview of the Principles of Accounting I course, including its objectives, structure, grading, and key topics. Students are expected to engage actively, maintain academic integrity, and utilize available resources for success.