Financial Accounting – acc537 (3 credits)
In this course, students are introduced to the basic concepts and methods of corporate financial statements commonly used by investors and other interested external parties. Topics include University of Phoenix tools, basic accounting concepts, financial statements, inventory and fixed assets, present value of bonds and stockholders' equity, statement of cash flows, and error correction and accounting changes.
Error Correction and Accounting Changes
- Describe the effects of accounting changes on financial statements.
- Describe the effects of accounting errors on financial statements.
University of Phoenix Tools and Basic Concepts of Accounting
- Identify the hierarchy of sources for generally accepted accounting principles.
- Use the tools available to University of Phoenix graduate students.
- Describe the qualities of accounting information.
- Compare and contrast accrual and cash bases of accounting.
- Differentiate among various business structures.
- Interpret financial statements.
- Calculate the components of financial statements.
Inventory and Fixed Assets
- Apply inventory costing principles for given financial data.
- Apply fixed asset valuation principles for given financial data.
Present Value of Bonds and Stockholdersâ Equity
- Determine the effect of the time value of money on bond valuation.
- Determine the components of a statement of stockholder equity.
Statement of Cash Flows
- Prepare a statement of cash flows.
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Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.