COURSE DESCRIPTION

Prerequisite is ACC 212 or equivalent. Analyzes principle elements of accounting systems and statements. Lecture 3 hours per week.

GENERAL COURSE PURPOSE

This course explores the unique accounting concepts and techniques involved in the more complicated and unusual business transactions common to business activities.

ENTRY LEVEL COMPETENCIES

None

COURSE OBJECTIVES

Upon completion of this course, the student will be able to:

A. Analyze certain complicated and unique business situations.
B. Determine their immediate and long-range effects on the business income pattern.
C. Establish proper accounting procedures to record and report those effects.

A. Review of the philosophy, nature, history, and process of accounting principles and practices.
B. Review of the techniques and limitations involved in the preparation and presentation of business financial statements.
C. Coverage of present value and future value concepts, interest, cash, short-term investments, and receivables.
D. Inventory accounting including management, cost-flow tracing, overall control, special valuation methods, and estimating techniques.
E. Management, acquisition and periodic accounting of land, plant and equipment, natural resources, and intangible assets.

A. Current accounting trends and practices in government and industry.
B. Computerized accounting applications.
C. CPA/CMA examination familiarization.