Financial Accounting 1 - First Session Overview

Introduction

• Course Name: Financial Accounting 1 (FA1)
• Previous Course: Introduction to Financial Accounting (taken January to June)
• Instructor: Edman Flores, CPA from the Philippines
  • Background: Former chairman and director at University of San Jose Recoletos
  • Roles: Trainer in IFRS, public accounting practitioner in external audit
• Objective: Refresh basic accounting knowledge and prepare for ACCA exam

Course Structure

• Sessions: At least 50, possibly more
• Presentations: Final assignment with more than two sessions
• Grading System: To be discussed
• Midterm and Final Projects: Details to be provided later

Course Progression

• Current Course: FA1 - Foundation in Financial Accounting
• Next Courses:
  • FFA (Financial Accounting 2)
  • IFRS for SMEs in Year 3
  • International Financial Reporting in Year 4
  • Internship in Year 4

Specialization Fields

• Accounting
• Auditing
• Tax
  • Importance of tax expertise due to complex tax laws in Cambodia

Learning Outcomes

• Explain accounting principles, concepts, and characteristics
• Describe basic bookkeeping principles
• Prepare journal entries and general ledger accounts
• Perform reconciliations and prepare trial balances
• Process year-end adjustments and prepare financial statements
• Account for partnerships

Assessment

• Participation in class activities
• In-class tests or quizzes
• Midterm and final projects (team-based)
• Final exam (covers all topics)

Significant Course Learning Outcomes

• CC1: Apply the double entry system
• Prepare Financial Statements: Major component

Expectations

• From Students:
  • Attend classes regularly and punctually
  • Be mentally and emotionally present in class
  • Ask questions and engage with the material
  • Attend mentoring and tutorial sessions
• From Instructor:
  • Flexibility in teaching
  • Encouragement to participate in extra activities like tutorials and practice.