This course is designed to provide an introduction to financial accounting from the users’ perspective. Its primary purposes are to promote understanding of financial accounting information for decision-making purposes and to focus on financial accounting’s role in communication business results.

Prerequisite

None.

Credit Units/Hours

Upon successful completion of this course, you will earn 3 semester hours of college credit. This course represents the equivalent of learning outcomes normally achieved through 45 hours of student classroom study or through distance learning instruction.

Course Learning Objectives

Upon completion of the course, students should be able to:

§  Explain the aims, functions, uses and influence of accounting in society and in ethical financial decision-making.

§  Describe and apply the steps of the accounting cycle, using mathematics to organize, analyze and synthesize financial data.

§  Define the elements of internal control and apply internal control procedures to business organizations.

§  Develop four basic financial statements: Income Statement, Statement of Owner’s/Stockholders’ Equity, Balance Sheet and Statement of Cash Flows.

§  Explain fundamental generally accepted accounting principles (GAAP), especially as they apply to accrual accounting and ethical decision-making.

ACC 100 Principles of Financial Accounting – Syllabus

§  Determine costs and inventory valuations of merchandising operations.

§  Describe and apply accounting procedures for Cash, Receivables, Plant Assets, Liabilities, Paid-In Capital and Retained Earnings.

We will be using McGraw Hill’s Connect Accounting® during the course. You will receive instructions from the instruction relative to access.