AC 101 - Financial Accounting I

Institution:

Massachusetts Bay Community College

Subject:

Description:

This first course in financial accounting and reporting taken by all business students assumes no prior knowledge of accounting. It introduces the FASB conceptual framework as the logic underlying accounting standards. It develops and traces the basic steps used in accounting and reporting for service-oriented entities and progresses to more complex merchandising firms with inventory valuation considerations. The course culminates in the use of simple financial statement analysis in reaching credit and investment decisions. A general ledger software package embedded in the coursework familiarizes students with the rapid electronic processing of information possible and with the basic outline of all such packages available today. Lecture: 4 hours per week. 4 credits

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.massbay.edu

Phone Number:

(781) 239-3000

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Semester

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