ACCT 2101 - Financial Accounting

Institution:

Inver Hills Community College

Subject:

Description:

Focuses on basic accounting concepts with emphasis on how financial information is used in decision-making, primarily by creditors and investors. It focuses on what the financial statements reveal about the credit worthiness and financial performance of companies organized as corporations. Topics covered include preparation, analysis and interpretation of financial statements including income statements, balance sheet, statement of owner's equity, and cash flow statement. Additional topics include processing accounting information, end of period adjustments, closing entries, cash versus accrual accounting, receivables, inventory, income measurement, current and fixed assets and liabilities, stockholders' equity, ratio analysis, cash flow, merchandising operations, and internal control. Meets lower-division transfer requirements for accounting and business administration majors at most 4-year institutions. Require completion of Math 0840 or assessment into Math 0940 or higher; recommended concurrent enrollment in BUS 1100.

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.inverhills.edu

Phone Number:

(651) 450-3000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

The Course Profile information is provided and updated by third parties including the respective institutions. While the institutions are able to update their information at any time, the information is not independently validated, and no party associated with this website can accept responsibility for its accuracy.