ACCT 106 - Financial Accounting

Institution:

Columbus State Community College

Subject:

Description:

ACCT 106 offers an introduction to accounting, emphasizing how general purpose financial statements communicate information about the business corporation’s performance and position for users external to management. Approximately one-third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting balances, and preparing financial statements for service and merchandising firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, current and long-term liabilities, and capital stock transactions. The Income Statement, Owner’s Equity Statement, Cash Flow Statement, and Balance Sheet are also covered.

Credits:

5.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.cscc.edu/

Phone Number:

(614) 287-5353

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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