This course introduces to Accounting as a system for measuring, processing and communicating financial information. The course focuses on the roles, skills and duties of the Accountants in the business organization with particular attention to ethics and professional conduct issues.
Where appropriate, business cases will be analysed from an accounting point of view in order to identify critical factors and to support business decisions. They are intended to help the student to gain sufficient understanding of the matters by applying accounting rules to specific cases.
The main subjects covered by the course are : Basic structure of Accounting. Recording and reporting business transactions. Bookkeeping procedures. Merchandising and the accounting cycle. The internal control. Managing cash. Accounts and notes receivables. Accounts and notes payables. Accounting for merchandise Inventory and for plant assets. Introduction to payroll accounting. The statement of cash flows.
Conceptual background will be provided by illustrating and discussing assigned chapters of the text book, which the student is expected to have studied prior to class discussion.

The class will cover the basic principles of accounting and introduce applications of these principles in the context of business decisions.
Students who complete the course successfully should be able to:
1. Identify business transactions from an accounting point of view.
2. Apply correct bookkeeping procedures for main business transactions.
3. Produce key financial reports (Income statement, balance sheet, statement of owner’s equity, statement of cash flows).
4. Exercise judgement and make appropriate accounting decisions.
5. Recognize and apply ethical behaviour. 

Students are expected to come to class prepared for the day's material. It is highly recommended that you attend all classes given that the material is comprehensive by nature and the course tends to move at a fast pace. Attendance will be considered in your participation grade. 
  
You cannot make-up a major exam (midterm or final) without the permission of the Dean’s Office. The Dean’s Office will grant such permission only when the absence was caused by a serious impediment, such as a documented illness, hospitalization or death in the immediate family (in which you must attend the funeral) or other situations of similar gravity. Absences due to other meaningful conflicts, such as job interviews, family celebrations, travel difficulties, student misunderstandings or personal convenience, will not be excused. Students who will be absent from a major exam must notify the Dean’s Office prior to that exam. Absences from class due to the observance of a religious holiday will normally be excused. Individual students who will have to miss class to observe a religious holiday should notify the instructor by the end of the Add/Drop period to make prior arrangements for making up any work that will be missed.

The University’s attendance policy is described in the catalogue.  Persistent absence or tardiness usually precludes satisfactory performance in the course, and jeopardizes that part of the grade that is based on class presentation and participation.  Students are expected to arrive to class on time; students are responsible for all material covered by the syllabus and/or discussed in class, whether or not they are actually present in class.