Economics (English)
Bachelor TR-NQF-HE: Level 6 QF-EHEA: First Cycle EQF-LLL: Level 6

Course Introduction and Application Information

Course Code: MNG207
Course Name: Financial Accounting
Semester: Fall
Course Credits:
ECTS
6
Language of instruction: English
Course Condition:
Does the Course Require Work Experience?: No
Type of course: Compulsory Courses
Course Level:
Bachelor TR-NQF-HE:6. Master`s Degree QF-EHEA:First Cycle EQF-LLL:6. Master`s Degree
Mode of Delivery: E-Learning
Course Coordinator: Prof. Dr. NAZLI KEPÇE
Course Lecturer(s): Prof.Dr.Nazlı Kepçe
Course Assistants:

Course Objective and Content

Course Objectives: 1. Teaching the accounting process, financial transactions and their entries as well as how to show them in financial statements by presenting fundamental accounting rules and concepts.
2. Teaching fundamental accounting items and working mechanisms as well as how to keep general ledger records, trial balance and closing entries, and how to prepare fundamental financial statements.
3. Teaching fundamental inventory valuation and depreciation methods.
4. Teaching fundamentals of financial statement analysis.
Course Content: This is an introductory course, which is designed to engage undergraduate students with the key concepts and notions of financial accounting. Hence, students who will comprehend the language of accounting will learn the mechanism of double-entry accounting system and they will learn accounting process of several accounting items in detail. The lecture begins with Fundamental Accounting Equation and General Information and goes on with Monitoring Financial Transactions, fundamental financial statements. Afterwards, Cash and Cash Equivalents & Marketable Securities, Accounts Receivables, Inventories, Non-Current Assets, Short-Term & Long-Term Liabilities and Equities. Following these balance sheet items, Revenue and Expense accounts as well as the working mechanism of the income statement will be treated. Lastly, from the perspective of reporting and analysis functions of financial accounting, financial statement analysis will be discussed.

Learning Outcomes

The students who have succeeded in this course;
1) Understand the significance of the accounting function of an entity and the essential role of accounting in the financial success of an entity.
2) Understand the impact of real (commercial) transactions on financial statements and their working mechanisms from the perspective of accounting.
3) Make entries of general ledger, trial balance and closing records.
4) Understand fundamental inventory valuation and depreciation methods.
5) Interpret financial statements by comprehending fundamentals of financial statement analysis.

Course Flow Plan

Week Subject Related Preparation
1) Conceptual Framework and Financial Statements-1 Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012) - Chapter 1
2) Conceptual Framework and Financial Statements - 2 Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 1 and Chapter 2
3) Recording Business Transactions Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012) Chapter 3
4) Accrual Accounting Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 3
5) Inventories & Merchandising Activities Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 4
6) Sales & Purchases Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)-Chapter 4
7) Internal Control, Cash & Cash Equivalents, Receivables Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012) - Chapter 7
8)
8) MIDTERM
9) Plant, Property and Equipment Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 10
10) Intangibles Investments and International Operations Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 11
11) Liabilities Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2012)- Chapter 11
12) Equities Income – Expense Accounts-1
13) Income – Expense Accounts-2 Cash Flows
14) Financial Statement Analysis
15)
15) FINAL EXAM

Sources

Course Notes / Textbooks: • Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2007). Principles of Financial Accounting (3rd edition). Gazi Kitabevi.
• Horngren Charles T., Sundem, Gary L., Elliott, John A., & Philbrick, D. (2014). Introduction to Financial Accounting: Pearson New International Edition (11th edition). Pearson.
References: • Şımga-Muğan, F. N. C., & Hoşal-Akman, N. (2007). Principles of Financial Accounting (3rd edition). Gazi Kitabevi.
• Horngren Charles T., Sundem, Gary L., Elliott, John A., & Philbrick, D. (2014). Introduction to Financial Accounting: Pearson New International Edition (11th edition). Pearson.

Course - Program Learning Outcome Relationship

Course Learning Outcomes

1

2

3

4

5
Program Outcomes
1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics.
2) They have knowledge and skill about different functions and interactions of economy.
3) They use different theoretical approaches to comprehend and solve various economic problems.
4) They are aware of the needs of society and use their knowledge of economics to meet these needs.
5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy.
6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy.
7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively.
8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education.
9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship.
10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law.
11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them.
12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms.
13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License .

Course - Learning Outcome Relationship

No Effect 1 Lowest 2 Average 3 Highest
       
Program Outcomes Level of Contribution
1) They have a broad and interdisciplinary perspective on economics using other social sciences and mathematics.
2) They have knowledge and skill about different functions and interactions of economy.
3) They use different theoretical approaches to comprehend and solve various economic problems.
4) They are aware of the needs of society and use their knowledge of economics to meet these needs.
5) They have in-depth knowledge on the current issues of the Turkish economy and the global economy.
6) They have in-depth knowledge on the history of the Turkish economy and basic level knowledge on the history of the global economy.
7) Using various statistical techniques and numerical methods, they establish correct economic models and make analyzes by using statistical programs effectively.
8) They use a foreign language at least at the B1 General Level in terms of European Language Portfolio criteria according to the level of education.
9) They improve their skills of teamwork, negotiation, leadership and entrepreneurship.
10) They have universal ethical values, social responsibility awareness and adequate knowledge of business law.
11) Being able to develop positive attitudes with regards to lifelong learning, they identify their individual learning needs and carry out studies to fulfil them.
12) They express their ideas and solution proposals concerning their field both written and orally, and present and publish them on both national and international platforms.
13) They use information and communication technologies together with a computer software required by the field at least at advanced level of European Computer Driving License .

Assessment & Grading

Semester Requirements Number of Activities Level of Contribution
Midterms 1 % 40
Final 1 % 60
total % 100
PERCENTAGE OF SEMESTER WORK % 40
PERCENTAGE OF FINAL WORK % 60
total % 100

Workload and ECTS Credit Calculation

Activities Number of Activities Preparation for the Activity Spent for the Activity Itself Completing the Activity Requirements Workload
Course Hours 13 0 4 52
Study Hours Out of Class 13 0 2 26
Homework Assignments 2 0 4 8
Quizzes 4 3 12
Midterms 1 20 2 22
Final 1 30 2 32
Total Workload 152