May 25, 2024  
2023-2024 Catalog 
2023-2024 Catalog [ARCHIVED CATALOG]

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ACC 104 - Financial Accounting

Credits: 4
4 Lecture Hours

Prerequisites: MAT 090 with a C grade or higher, or completion of MAT 195  with a B grade or higher, or completion of ACC 100  with a C grade or higher.

In this course, students are introduced to the fundamental principles of financial accounting.  This includes concepts governing the recording and reporting of accounting data. Students examine receivables, payables, inventory, depreciation, fixed assets, current and long-term liabilities and stockholder’s equity.

Learning Outcomes
Upon successful completion of the course, the student will:

  1. Discuss accounting cycle terminology.
  2. Analyze the effects of business transactions on financial statements.
  3. Construct financial statements in accordance with generally accepted accounting principles (GAAP).
  4. Determine an entity’s financial health by reviewing the prepared financial statements.
  5. Examine the impact of bank reconciliation and petty cash expenditures on appropriate accounts.
Listed Topics
  1. The accounting cycle including the accounting equation, debits and credits
  2. Accounting for service and merchandising transactions
  3. Cash and internal control
  4. Receivables
  5. Payables
  6. Inventory
  7. Fixed assets and depreciation
  8. Current and long-term liabilities
  9. Stockholders’ equity
  10. Bank reconciliation and petty cash expenditures
Reference Materials
Current textbook and supplementary materials.
Students who successfully complete this course acquire general knowledge, skills and abilities that align with CCAC’s definition of an educated person. Specifically, this course fulfills these General Education Goals:
  • Communication
  • Critical Thinking & Problem Solving
  • Quantitative & Scientific Reasoning
Approved By: Dr. Quintin B. Bullock Date Approved: 03/16/2022
Last Reviewed: 03/16/2022

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