Nov 18, 2018  
2018-2019 Undergraduate Catalog 
    
2018-2019 Undergraduate Catalog
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ACCT 251 - Financial Accounting


Description:
An introduction to the theory and practice of accounting and financial reporting. Topics include the accounting cycle, financial statements, and corporate accounting for assets, liabilities, equities, revenues and expenses.

Credits: (5)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

  • Provide definitions for key terms
  • Prepare the journal entries to record transactions
  • Prepare the journal entries to adjust the accounting records
  • Prepare financial statements from the accounting worksheet (trial balance)
  • Prepare the journal entries to close the temporary accounts
  • Calculate and interpret key financial ratios using the balance sheet and income statements
  • Demonstrate knowledge of periodic and perpetual inventory system
  • Demonstrate knowledge of multiple inventory methods
  • Demonstrate ability to work with petty cash and cash transactions
  • Demonstrate knowledge of uncollectible account transactions
  • Demonstrate knowledge of fixed assets and intangible assets
  • Demonstrate knowledge of corporate transactions
Learner Outcomes Approval Date:
1/20/11



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