The information presented is an unofficial guide to how courses may transfer. Other factors to consider are grades received in the courses, the year in which the course was taken, and the major pursued after transfer. In all instances, final decisions about acceptance of course credit will be made by Delaware County Community College.
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Prerequisite: Sophomore standing. Focuses on introducing financial accounting which provides information for decision makers outside the entity primarily by means of general-purpose financial statements. Students acquire a basic knowledge of the language of business. Topics include the application of accounting theory and generally accepted accounting principles to business transactions encountered by corporations during the accounting cycle.
- Credits
- 3.00
View more information about Loyola University Maryland
- Location
- Baltimore, Maryland
- Phone
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(410) 617-2000
Call Loyola University Maryland
Loyola University Maryland is regionally accredited by the Middle States Commission on Higher Education (MSCHE)
Loyola University Maryland is on a Semester calendar system
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This course provides students with a comprehensive treatment of the complete accounting cycle for both service and merchandising businesses in accordance with Generally Accepted Accounting Principles (GAAP). The course also focuses on accounting systems, concepts, issues and the preparation and analysis of financial statements. Upon completion of this course, students should be able to: Perform all the steps of the accounting cycle in accordance with GAAP for service and merchandising businesses. Prepare financial statements for sole proprietorships, partnerships and corporations. Calculate quantities and dollar amounts of merchandise inventory and cost of goods sold using GAAP and IRS methodologies. Provide for uncollectible accounts receivable and calculate the estimated amount of accounts receivable that will ultimately be collected. Calculate depreciation, depletion and amortization, and calculate the book value of plant and intangible assets. Broadly describe the principles of internal control over assets and the accounting profession's Code of Ethics. Discuss the income tax consequences resulting from the use of alternate GAAP methodologies. Describe the differences among cash, accrual and other comprehensive bases of accounting. Make calculations and prepare journal entries for various end-of-period adjustments. Make calculations and prepare journal entries for the issuance and redemption of debt and equity securities by corporations.
- Credits
- 3.00
View more information about Delaware County Community College
- Location
- Media, Pennsylvania
- Phone
-
(610) 359-5000
Call Delaware County Community College
- Email
- admiss@dccc.edu
Delaware County Community College is regionally accredited by the Middle States Commission on Higher Education (MSCHE)
Delaware County Community College is on a Semester calendar system
Minimum Grade
You need a minimum grade of D to transfer these courses from Loyola University Maryland to Delaware County Community College.
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