AC 215 Fundamentals of Accounting *

AC 215, Fundamentals of Accounting, emphasizes the preparation and recording of accounting information and is intended for students majoring in accounting. Students will learn about of the accounting cycle, the measuring process and the classification of data, and the accounting terminology that is essential to the preparation and effective use of financial principles that apply to statements. This course introduces basic accounting concepts and techniques; fundamentals of the accounting process and preparation of basic financial statements; accounting principles involved in the measurement and reporting of assets and liabilities; elements of consolidated statements and statement of cash flows; and using and interpreting financial statements for decision-making. 

Credits

5

Prerequisite

Strong math and algebra skills in addition to logical thinking are required to succeed in this course.

Outcomes

1. Apply time value of money concepts to value accounts
2. 1. Evaluate the objectives of financial accounting.
3. 2. Prepare and analyze the four basic financial statements.
4. 3. Demonstrate understanding of accounting regulations.
5. 4. Compare and contrast types of business entities and their financial reporting needs.
6. 5. Research, evaluate and disseminate high quality financial information.
7. 6. Evaluate the impact of financial information from a domestic and global perspective.
8. 7. Demonstrate effective collaboration skills.