Course Course Summary Section 1 Content Section 1 Content Left Section 1 Content Right Credit Type: Course ACE ID: ECRA-0196 Organization's ID: BUS101 Organization: Eastwick College Location: Classroom-based Length: 12 weeks (54 hours) Dates Offered: 8/1/2016 - 7/31/2019 Credit Recommendation & Competencies Section 2 Content Section 2 Content Left Section 2 Content Right Level Credits (SH) Subject Lower-Division Baccalaureate 3 Financial Accounting or Accounting Description Section 3 Content Section 3 Content Left Section 3 Content Right Objective: The course objective is to introduce the student to basic accounting principles. The topics covered are financial statement preparation, inventories, receivables, assets and accruals, deferrals, accounting systems and cash control. Learning Outcomes: Describe the types and forms of businesses, how businesses make money, and business stakeholders Distinguish the activities and financial statements of a service business from those of a merchandising business Name the common classifications of receivables and inventories Describe how depreciation expense is reported on an income statement and prepare a balance sheet that includes fixed assets and intangible assets Define accounting and describe its role in business Discuss basic financial statements and demonstrate how they interrelate Apply basic principles of an accounting system Analyze, record, and summarize accounting for a corporation's operations Examine transactions and prepare financial statements using concepts of accounting Describe and illustrate financial statements of a merchandising business, elements of internal control, and reporting of cash in the financial statements Compare and contrast the use of the three inventory costing methods Define, classify, and account for the cost of fixed assets Compute depreciation using the straight-line and double-declining-balance methods Calculate gross payroll, deductions, and net payroll Prepare payroll tax reports from payroll records General Topics: Role of accounting in business Basic accounting concepts Accrual accounting concepts Accounting for merchandising businesses Internal control and cash Receivables and inventories Fixed and intangible assets Instruction & Assessment Section 4 Content Section 4 Content Left Section 4 Content Right Instructional Strategies: Audio Visual Materials Case Studies Classroom Exercise Discussion Learner Presentations Lectures Methods of Assessment: Examinations Quizzes Minimum Passing Score: 70% Supplemental Materials Section 5 Content Section 5 Content Left Section 5 Content Right Section 6 Content Section 6 Content Left Section 6 Content Right Button Content Rail Content 1 Page Content