ACCT 110 - Survey of Accounting

3 Credits: (3 lecture)

Course Description
This course is designed to familiarize students with the basic elements of a financial accounting system. Emphasis will be placed on reading, understanding, and analyzing accounting information to prepare financial reports and make economic business decisions. This course meets the General Education competency of Critical Thinking (CT).

Note Spring semester only.

Prerequisite or Corequisite: Math requirement for student’s declared program.

Text
Kimmel, P. D., Weygandt, J. J. & Mitchell, J. E. (2023). Survey of accounting (3rd ed.). Hoboken, NJ: Wiley.

Objectives
The student will be able to:

A. Apply accounting terminology, concepts, and systems to the analysis of business transactions in service, merchandise, and manufacturing businesses.

B. Evaluate accounting evidence related to business decisions. (CT)

C. Synthesize the accounting cycle evidence and draw conclusions. (CT)

D. Prepare the basic financial statements. (CT)

E. Interpret financial results.

F. Explain the objectives of internal control.

G. Utilize basic financial statement analytical procedures to make economic business decisions.

Content
A. Role of accounting in business

B. Basic accounting concepts

C. Accounting information system

D. Financial accounting transactions

E. Financial statements

F. Sarbanes-Oxley Act of 2002

G. Internal control objectives

H. Financial statement analysis

Student Evaluation
Objectives A through G will be evaluated by an average of at least three exams and a comprehensive final exam.