Task Team of FUNDAMENTAL ACCOUNTING School of Business. Sun Yat-sen University Less ote Lesson 2: Economic Transactions and Accounting equation Learning objectives This lesson begins with a discussion of the purpose of a business, including a discussion of forms of organizations. Next, the nature of business operations is discussed. The four types of businesses are discussed: service. merchandising. manufacturing. and financial services. It also concludes with a discussion of the general forms of business ownership: sole proprietorships partnerships, and corporations Then the lesson carries on with a discussion of business activities and the events, resources, and elements affecting business transactions. The focus of accounting equation(that is, A=L+ OE)is explained in detail. The Beauty Photo Store, a local case we create, is presented to illustrate our points in this lesson Teaching hours Students major in accounting: 3 hours Others. 3 he Teaching content Opening Story This lesson starts with an opening case of somewhat connection to the real life of students that is, the funding and spending at college. Suggested items relating to the accounting topics are: Assets of a college student, for example, cash, CD player, computer, and the ways of funding these assets: sponsored by parents, sponsored by relatives, borrowed from relatives and acquaintance We could deal with the above-mentioned financial issues from the following perspectives: How do we fund our daily expenditures and possessions? How do we spend the"funds "which we have sourced? What about the relationship between the "funds'"which we have sourced and our daily expenditures and possessions Enterprises Students are asked to suggest examples of each type of business: service, merchandiser manufacturer, and financial services. Point out that many businesses are combinations of one or more type Students are going to understand: Concept of Enterprise, Definition of "enterpris Functions of an enterprise, Characteristics of an enterpriseTask Team of FUNDAMENTAL ACCOUNTING School of Business, Sun Yat-sen University Lesson notes Lesson 2: Economic Transactions and Accounting Equation Learning objectives This lesson begins with a discussion of the purpose of a business, including a discussion of forms of organizations. Next, the nature of business operations is discussed. The four types of businesses are discussed: service, merchandising, manufacturing, and financial services. It also concludes with a discussion of the general forms of business ownership: sole proprietorships, partnerships, and corporations. Then the lesson carries on with a discussion of business activities and the events, resources, and elements affecting business transactions. The focus of accounting equation (that is, A＝L＋ OE) is explained in detail. The Beauty Photo Store, a local case we create, is presented to illustrate our points in this lesson Teaching hours Students major in accounting: 3 hours Others: 3 hours Teaching contents: Opening Story This lesson starts with an opening case of somewhat connection to the real life of students, that is, the funding and spending at college. Suggested items relating to the accounting topics are: Assets of a college student, for example, cash, CD player, computer, and the ways of funding these assets: sponsored by parents, sponsored by relatives, borrowed from relatives and acquaintance. We could deal with the above-mentioned financial issues from the following perspectives： How do we fund our daily expenditures and possessions？How do we spend the “funds” which we have sourced？What about the relationship between the “funds” which we have sourced and our daily expenditures and possessions？ Enterprises Students are asked to suggest examples of each type of business: service, merchandiser, manufacturer, and financial services. Point out that many businesses are combinations of one or more type. Students are going to understand: Concept of Enterprise, Definition of “enterprise”, Functions of an enterprise, Characteristics of an enterprise