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Course Syllabus

ACCT 2010 Financial Accounting

  • Division: Business and Applied Tech
  • Department: Business
  • Credit/Time Requirement: Credit: 3; Lecture: 3; Lab: 0
  • Semesters Offered: Fall, Spring
  • Semester Approved: Spring 2024
  • Five-Year Review Semester: Summer 2029
  • End Semester: Fall 2029
  • Optimum Class Size: 30
  • Maximum Class Size: 40

Course Description

This course is an introduction to accounting concepts and techniques, which are essential to the administration of a business enterprise. The course further covers periodic determination of income and financial positions by teaching students to maintain financial records and prepare and analyze financial reports. This course is the first in a series designed for the sophomore year in preparation for obtaining the ASB degree.

Justification

This course teaches skills in preparing and using (interpreting) financial statements. The course is required for majors in business management and is designed to transfer as a required course to university programs. The course is a requirement for the Associate of Science Business degree.

Student Learning Outcomes

  1. Through instruction and hands-on experiences, students will understand the importance of reliable accounting information for businesses and the economy at large. Students will learn how to maintain financial records and prepare and analyze financial reports.
  2. Students will perform computations to generate a number of financial measurements. They will compute/measure net income and financial position as well as numerous measures of profitability, liquidity, market strength, solvency, cash flow adequacy, and other indicators.
  3. The student will also be evaluated on learning how to recognize and remedy ethical issues in accounting.

Course Content

The course will cover a wide range of accounting-related topics such as the uses of accounting information and financial statements, measuring and recording business transactions, revenue and expense recognition rules, accounting systems, financial reporting and analysis, measuring the cost of sales and gross margin, safeguarding records and property, making ethical decisions and recognizing ethical problems, payroll, performance measures, statement of cash flows, analyzing statements of cash flows, etc.