ACCT 201 Introduction to Financial Accounting*
This is an introduction to financial accounting and stresses the use of
financial information in making investment and business decisions.
The course covers the primary elements of the financial statements,
fundamentals of accrual accounting, a study of internal control and cash
safeguards, accounting for inventories and fixed assets, the presentation
and use of the statement of cash flow, and the fundamentals of long-term
liabilities. The course emphasizes the uses of accounting information
rather than the preparation of financial statements.
ACCT 201Introduction to Financial Accounting*
Please note: This is not a course syllabus. A course syllabus is unique to a particular section of a course by instructor. This curriculum guide provides general information about a course.
I. General Information
II. Course Specification
Course Type
Program Requirement
Credit Hours Narrative
3 Credits
Grading Method
Letter grade
III. Catalog Course Description
This is an introduction to financial accounting and stresses the use of
financial information in making investment and business decisions.
The course covers the primary elements of the financial statements,
fundamentals of accrual accounting, a study of internal control and cash
safeguards, accounting for inventories and fixed assets, the presentation
and use of the statement of cash flow, and the fundamentals of long-term
liabilities. The course emphasizes the uses of accounting information
rather than the preparation of financial statements.
IV. Student Learning Outcomes
Upon completion of this course, a student will be able to:
- Describe how the accounting equation (A=L+E) relates to the accounting cycle.
- Understand the relationship between the four primary financial statements and explain how the financial statements provide useful information to decision makers.
- Analyze and record business transactions and communicate the effects of business transactions and events in the financial statements.
- Read and interpret basic financial statements and related financial information to make informed business, investing, and/or lending decisions.
- Understand the difference between cash flow and accrual basis accounting.
V. Topical Outline (Course Content)
The business environment and basic financial statements.
Completing the accounting cycle
Inventory
Internal Control
Valuation of assets
Liabilities and equity
Cash Flow
VI. Delivery Methodologies
Required Assignments
Two comprehensive problems completing the accounting cycle
Analysis of a company’s annual report
Required Exams
Chapter Tests
Comprehensive Final Exam
Required Text
Horngren’s Financial & Managerial Accounting – The Financial Chapters—5th edition, Miller-Nobles, Mattison, Matsumura; Pearson Publications Pearson Access Code for MyAccountingLab
Required Materials
Columnar Paper
Calculator
Specific Course Activity Assignment or Assessment Requirements
Two comprehensive problems completing the accounting cycle
Analysis of a company’s annual report
Chapter Tests
Comprehensive Final Exam
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