ENT 150 - Basic Accounting and Finance for Entrepreneurs

Institution:

Kapiolani Community College

Subject:

Description:

3 hours lecture per week Recommended Preparation: Qualification for MATH 24 or higher. ENT 150 introduces accounting concepts and principles, procedures and systems for the Entrepreneur. Application skills include recording, summarizing, reporting, analyzing and using accounting information for a small business. The development of a financial plan for a small business will incorporate the basic concepts of financial statement and financial planning. Upon successful completion of ENT 150, the student should be able to: Apply concepts and principles of accounting and finance for the small business. Use accounting software program to record and maintain financial records and to prepare financial documents and reports. Explain the importance of establishing an accurate and timely record keeping system. Compute value of inventory Last In, First 1 Out (LIFO), First In, First Out (FIFO) and weighted average. Distinguish between short- and long-term financing. Describe advantages and disadvantages of various sources of capital. Differentiate the basic financial reports - Balance Sheet, Income Statement, Statement of Owner's Equity and the Statement of Cash Flow. Analyze financial statements and compute ratios to enhance the decision making process and the management of the business. Create pro forma financial statements/plan and maintain a set of accounting books. Explain the importance of cash management and methods of financing growth and expansion to the success of the small business. Identify the process in raising capital to launch or expand a business. Analyze business opportunities using the concepts of risk factors and return on investment.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

kapiolani.hawaii.edu/page/home

Phone Number:

(808) 734-9000

Regional Accreditation:

Western Association of Schools and Colleges

Calendar System:

Semester

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