Introduction to Financial Accounting (201-DL-20)
Instructors
Jeannine D Russo
Jeannine Russo has been Associate Dean of Administration and Finance for the School of Professional Studies at Northwestern University since 2006. After a decade in corporate management and consulting, Jeannine transitioned to non-profit management, serving as Executive Director of a workforce development agency on the south side of Chicago, where she gained extensive experience in both public and private sector funding and in associated reporting and auditing requirements. Jeannine was also Director of Finance for Hubbard Street Dance Company, managing budgets, collaborating on development initiatives, and overseeing endowment portfolios and capital improvement projects. At SPS, Jeannine manages all budgeting, financial and human resource areas related to the school. She has taught ACCOUNT 201 for several years. Jeannine earned her B.A. in Economics and Political Science from the University of Illinois, Urbana, and her M.B.A. (with distinction) from DePaul University.
Meeting Info
Online: TBA
Overview of class
Introduction to Financial Accounting covers the foundational concepts of accounting and the fundamental basics of financial statements, allowing students to identify, measure, and record accounting information, as well as communicate that information to external users. Specific topics will include the accounting cycle, accrual accounting, receivables, inventory and cost of goods sold, depreciation, debt vs. equity financing, and stockholders' equity. By the end of this course, students will be proficient in preparing financial statements and applying key ratios to analyze specific financial information. Students will join group discussions, complete online homework assignments and individual projects, and complete online examinations.
This course is conducted completely online. A technology fee will be added to tuition.
Registration Requirements
There are no prerequisites for this course. Although optional resources to help students brush
up on their algebra will be provided, students should have basic math computational/algebra
skills. Students should also have basic computer skills, such as navigating a course in Canvas and
taking an online test or quiz.
Learning Objectives
By the end of this course, students will be able to:
• Discuss generally accepted accounting principles (GAAP).
• Explain how the GAAP framework fosters the relevance and reliability of financial statements.
• Construct and interpret basic financial accounting statements.
• Use financial accounting statements to interpret organizational value and evaluate
organizational effectiveness.
Class Materials (Required)
For this class, you are required to purchase (or rent) a textbook and MyAccountingLab access.
Thomas, B., Tietz, W. Financial Accounting (13th ed.) Upper Saddle River, NJ: Pearson, 2022.
There are many options for acquiring the textbook and MyAccountingLab access. New and used books are available from several different places, including the Pearson website, Amazon, and other sources. You may also rent access to the E-Text and MyAccountingLab at Pearson and Amazon. Be sure to select the 13th edition, which looks like the picture to the left. Be sure to purchase MyLab access to complete your homework assignments.
Class Attributes
Asynchronous:Remote class-no scheduled mtg time