May 27, 2022
ACCT 1005 - Accounting for Business Activities
This course is designed to be an introduction to accounting principles, terminology, and concepts for non-business majors. It will expose students to accounting processes, procedures and analytical tools. Accounting is “The Language of Business” and students need a basic understanding to communicate in the business world.
Requisites: Not COB major and Warning: No credit for this course if taken after ACCT 1010
Credit Hours: 3
Repeat/Retake Information: May be retaken two times excluding withdrawals, but only last course taken counts.
Lecture/Lab Hours: 10.0 lecture
Grades: Eligible Grades: A-F,WP,WF,WN,FN,AU,I
- Apply TVM concepts to the accounting for bond instruments.
- Apply operational budgeting techniques to practical situations.
- Calculate basic financial ratios and explain their implications for investors and managers.
- Demonstrate a clear understanding of all components of a Financial Reporting Framework and explain how it used by managers
- Demonstrate a clear understanding of the impact of decision making, teamwork, motivation, and leadership on the performance of organizations and explain how managers can apply these skills and concepts to affect performance and reach goals.
- Demonstrate a clear understanding of various methods managers use to create value in an organization.
- Demonstrate an ability to apply the appropriate application of time value of money (TVM) concepts for real life examples.
- Demonstrate a clear understanding of major managerial functions and roles.
- Identify different cost behavior patterns and explain their usefulness to managers.
- Prepare and interpret basic financial information generated for internal decision making.
- Prepare and produce financial statements from the accumulation of basic financial transactions and other data.
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