ACCT- Accounting

E- Students will explore the manner in which accountants pursue the goal of financial accounting: to provide useful, relevant information to users of financial statements. With a focus on merchandising enterprises, students look at how the accounts are organized, how they are affected by transactions, and how they impact one another. Students will explore the recording process, adjusting and closing entries, and the preparation of financial statements. Transaction analysis will focus on sales, purchases, cash, accounts receivable, and inventories, while additional topics include accounting information systems and internal control.

E- In this course, a continuation of ACCT&201, students will further explore the manner in which accountants pursue the goal of financial accounting: to provide useful, relevant information to users of financial statements. Students will examine in detail the accounting for accounts and notes receivable, plant assets, current liabilities, shareholders¿ equity and dividends, long term liabilities, and investments. Additional topics include the statement of cash flows and financial statement analysis.

E, SU- Students commencing this course in managerial accounting will have completed two previous courses in financial accounting (ACCT&201 and ACCT&202), whose goal is to provide useful, relevant information to users of financial statements. Managerial accounting, by contrast, is concerned with providing information to managers-the people inside an organization who direct and control its operations. Students will explore ways in which financial information for internal users is compiled, organized, and presented, and will develop a thorough understanding of manufacturing and nonmanufacturing costs; compute the cost of manufacturing a product or providing a service; and determine the behavior of costs as activity levels change. Attention will then shift to budgeting and the use of budgets and standard costs to assess performance. Additional topics include incremental analysis and capital budgeting.

RE- Students will acquire a practical understanding of financial and managerial accounting concepts. With a focus on the relationship between real-world events and the accounts and numbers that appear on financial statements, students will explore the accounting for common transactions and learn to apply the basic tools of financial statement analysis to various types of business and not-for-profit organizations. Managerial accounting topics include analysis of the cost of manufactured products, cost behavior, break-even analysis, and budgeting. This course is intended for the non-accounting specialist and is not recommended for students planning to transfer into bachelor's degree programs in business.