Aug 19, 2022  
2020-2021 Catalog 
    
2020-2021 Catalog [ARCHIVED CATALOG]

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ACC 104 - Financial Accounting


Credits: 4
4 Lecture Hours

Prerequisites: Eligibility for MAT 090  or completion of ACC 100  with a C grade or higher.

 
Description
This course is an introduction to the basic concepts of financial accounting, including the preparation, interpretation and utilization of financial statement data. The basic principles and concepts governing the recording and reporting of accounting data, including the system of debits and credits will be covered. The course will also cover receivables, notes, inventory, depreciation, plant assets, current and long-term liabilities, as well as corporate accounting topics.


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

  1. Prepare financial statements.
  2. Determine the effects of business transactions on the elements of the financial statements.
  3. Measure, record and disclose assets, liabilities, stockholders' equity, revenues and expenses.
  4. Perform basic financial statement analysis including making assessments of an entit's liquidity, solvency and the adequacy of its profit.
  5. Define accounting terminology.

 Listed Topics

  1. Basic accounting equation
  2. Debits and credits
  3. Measuring income
  4. Adjusting and closing entries
  5. Financial statements
  6. Accounting cycle
  7. Accounting for service and merchandising transactions
  8. Cash and internal control
  9. Marketable securities
  10. Receivables
  11. Inventory
  12. Plant assets and depreciation
  13. Current and long-term liabilities
  14. Stockholders' equity
     
Reference Materials
Current textbook and supplementary materials.
Approved By: Johnson, Alex Date Approved: 05/28/2013


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