Survey Of Accounting: The Maze Of Numbers – acc220 (3 credits)
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.
Identify the components of groups within a classified balance sheet.
Discuss characterisitics to consider when reviewing a financial report.
Discuss principles of internal control.
Summarize ways companies can monitor internal cash control.
Examine the basic principles of cash managment.
Compare and contrast managerial accounting and financial accounting.
Analyze managers' use of accounting information.
Cost, Volume, and Profit
Explain the components of cost-volume-profit analysis.
Looking at Budgets
Discuss the benefits of budgeting.
Examine the use of different types of budgets.
Responsibility Centers and Incremental Analysis
Discuss the accountability of each type of responsibility center.
Give examples of business decisions that would involve incremental analysis.
Identify the components of a flexible budget.
Principles and Practices
Assess how accounting principles and practices function within a business.
Careers and Accounting in Business
Summarize the role accounting plays in business.
Discuss the importance of ethics in financial reporting.
Discuss the various career opportunities within the field of accounting.
Introduction to Statements I
Compare and contrast sole proprietorships, partnerships, and corporations.
Define commonly-used accounting terms.
Give examples of the data found on various financial statements.
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