Due to Current Medical Emergency, IU is planning to use ZOOM + VLE Platforms for Online Classes! Students are requested to get themselves aware about Zoom Platform as Attendee as well as Host -
Important IDs:
My IQRA's Zoom's Personal Meeting ID : 616-967-4399
Timing of Availability will be communicated here soon!
Course Outline (Provided by IU)
Course Outline by Instructor (Revised for Better understanding of Students studying first time under Semester System)
Recommended Text Books
Reference Book as Additional Source
Week 1 / Session 1
Definition; Subject Matter; Heads of Account; Accounting Equation
Supporting Slides - Chapter # 1
Lecture # 1 - Accounting Equation
Week 2 / Session 2
Accounting Cycle Overview
Effect of Transactions on Accounting Heads
Debit and Credit Rules for All heads of Account
Business Transaction for Service Business and Trading Business
Supporting Slides - Accounting Cycle Capturing Economic Events
Supporting Slides - Journalizing the Transaction
Quiz1 Instructions (Expected Week 3)
For Quiz1, mostly content from Week 1 and Week 2; Especially, one should be able to identify effect of transaction on Accounting Equation as well as should be able to identify Debit and Credit; Expected Duration 15-20 minutes for Quiz or less
Week 3 / Session 3
Review of Debit and Credit of Assets, Liabilities + Capital
Debit and Credit of Expense and Income; Service Business focused
Quiz 1
General Ledger and Trial Balance - Skeleton Form
HW1 Instructions (Submission: Week4)
In HW Requirement will be as follow:
Question 1 : to show the effect of transaction on Accounting Equation
Question 2: to prepare General Journal (Skeleton or Standard Form any 1 from both)
Question 3: to prepare General ledger and Trial balance of the same GJ Question.
See Instruction of Homework # 1 in Week 4
Week 4/ Session 4
See Instruction of Homework # 1
Submission of HW # 1: Session 4
Topic
Transactions of Trading Business
Week 5 / Session 5
Adjusting Entries and Adjusting Trial Balance
Supporting Slides: Chapter # 4: Adjustments
Supporting Slides: Lecture # 4: Adjusting entries - Accruals and Advances
Week 4 and 5 Learning Material
Smart Board Material - Week 5 Adjustment Introduction
Week 6/Session 6
Review for Adjustment;
Prepaids, Expenses and Payables
Income , Unearned and Receivables
Depreciation and Bad Debts
Week 7 & Week 8 (March 7 & 14, 2020)
NO Class due to Medical Emergency & Uncertainty
Week 9 (March 21, 2020)
IQRA University has suspended Online Classes too till further orders so wait of Instructions from University. However, I will still be online for our already schedule timing. Form of Online(You can try the same VLE provided Link in case not, I will be online via my Personal Meeting ID of Zoom i.e. 616-967-4399.
Note: Purpose of today's meeting will be counselling hour and not a proper session)
Week 10(March 28, 2020)
Planned for Counselling Session However,
As I am working on Online Content Creation, so can not be available for March 28, 2020 's Counselling Hour Session!, Moreover, I will suggest, keep reading Weekly Learning Materials all mentioned Pages on your own, you have it available with you already!
Week 11 (April 3 - First Online Session on Zoom) - Not counting toward Official Session
Purpose of this session was just getting you all back to learning mode!
So, I have revised Effect of Transaction on Accounting Equation within Excel Environment!
Recording of First Session 6:45 - 7:54 is with IU Management (will be shared soon) -
What we Covered: How Zoom and VLE will be used + Effect of Transaction on Accounting Equation
Recording of Second Session 8:20 - 9:00 -
Problem solution for Excel Based Activities
Now Onward Instead of Week's, I will Identify our Meeting as Session #
Session 6 - April 10 - Second Online Session on Zoom - Review for Week 4 and 5
Review of Adjustment from Week 4 and Week 5 - Reading Material Identified
Errors and Their Correction - Lecture Notes
Session 7 - April 17 - Third Online Session on Zoom -
Please Read Learning Material of Week 6-8 mentioned as Reading Assignment on VLE before this Session
PQs for Adjusting Entries - Service Business 7A - Zoom based
PQ for Adjusting Entries - Service Business 7B - VLE based
Expected but wait for Official Announcement from IU Management)
Note:
Ignore following Midterm Exam Guidelines, I will restructure assessment mechanism once we will be having enough material for assessment, currently focus on learning only!
Midterm Exam Guidelines
Section A: Objectives (MCQs/ FB/ True False)
Q1: 20 mcqs of half mark each (From Week 1 to Week6)
Section B: Detailed Questions
Q2: Accounting Equation Effect /General Journal / General Ledger and Trial Balance (8-10 Marks) (Week 2-4)
Q3: Adjustment Process (5-7 Marks) Adjusting Entries / Adjusted TB / Income Statement (Week 5-6)