Every business depends on its accountants to organize and maintain financial information. Accountants translate the maze of numbers most people see into valuable information that keeps a company going. This course introduces students to the accounting profession and the role accounting plays in business. Students learn the fundamentals of accounting principles and the accounting cycle.
Assess how accounting principles and practices function within a business.
Responsibility Centers and Incremental Analysis
Give examples of business decisions that would involve incremental analysis.
Discuss the accountability of each type of responsibility center.
Identify the components of a flexible budget.
Looking at Budgets
Examine the use of different types of budgets.
Discuss the benefits of budgeting.
Cost, Volume, and Profit
Explain the components of cost-volume-profit analysis.
Analyze managers' use of accounting information.
Compare and contrast managerial accounting and financial accounting.
Examine the basic principles of cash managment.
Summarize ways companies can monitor internal cash control.
Discuss principles of internal control.
Introduction to Statments II
Identify the components of groups within a classified balance sheet.
Discuss characterisitics to consider when reviewing a financial report.
Introduction to Statements I
Give examples of the data found on various financial statements.
Define commonly-used accounting terms.
Compare and contrast sole proprietorships, partnerships, and corporations.
Careers and Accounting in Business
Discuss the various career opportunities within the field of accounting.
Discuss the importance of ethics in financial reporting.
Summarize the role accounting plays in business.
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While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Advisor.
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.