Full Year, 1 credit.
This is an introductory course in basic accounting procedure. The focus is on a departmentalized corporation and the course will follow a typical accounting cycle, i.e. securing source documents, journalizing the transaction, posting the accounts, preparing financial statements from a worksheet, journalizing adjusting entries, and closing the temporary accounts for a future cycle. Accounting is an excellent introduction to accounting for students considering business administration as a college major. There will be extensive use of Microsoft’s Excel software. Financial / Managerial Accounting is an extension of the course Accounting Cycle. The focus of this course is to allow the student to further explore how investors, creditors, and managers analyze the accounting records of a corporation. It will also deal with information needed by management for decision-making. Topics will include financial analysis and reporting for a corporation, acquiring additional capital, budgetary planning and control, cash flow, and cost accounting. There will also be an extensive use of Intuit's Quicken and QuickBooks software.
Prerequisite: None.
GOALS AND CURRICULUM
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PRIMARY OBJECTIVE: LEARN HOW TO LEARN.
Century 21 Accounting Advanced Text, 8e, 2006
Kenton Ross , Texas A&M University
Mark W. Lehman, Mississippi State University
Dan Passalacqua, Oak Grove H.S., San Jose, CA
Claudia B. Gilbertson, North Hennepin Community College
GOALS
1. To develop in students a better understanding of accounting and its importance in our society.
2. To provide students with knowledge of the principles and foundations of accounting.
3. To develop an awareness of how accounting principles can be applied to real-life situations.
4. To demonstrate to students how the various principles of accounting can relate the separate knowledge and skills used in different business activities.
5. To enrich the accounting vocabulary of students as a foundation for reading and study as they continue their preparation for and participation in society and/or business fields or careers.
CURRICULUM
Accounting is a course discussing the following topics:
The Accounting Concept The Accounting Cycle Accounting Adjustments Sole Proprietorship Accounting Systems Corporate Accounting Systems Financial Accounting Principles Management Accounting Principles Automated Accounting Applications Cost Accounting Principles Accounting Principles for Partnerships and Not-For-Profits