An introduction to financial accounting concepts and analysis with emphasis on corporate financial statements and determination of income.
Requires concurrent enrollment in ACG2021L at MDC's Virtual College.
All virtual college courses require high-speed access. Microsoft Office applications, such as Word, Excel and PowerPoint are standard requirements. Check the 'Technology Requirements' section of your course syllabus once the course begins. Mac users must use Firefox as the default browser for all VC courses.
|Florida Resident|| Distance Learning Fee||VC Course Total|
|Non Florida Resident||Distance Learning Fee||VC Course Total|
Students will learn concepts, principles and procedures related to the following subject matters:
· Understand the basic terminology used in accounting, classification of accounts, and the accounting cycle under cash and accrual basis of accounting.
· Analyze accounting transactions and their effect on the financial position of the organization.
· Analyze financial statements with respect to liquidity, solvency and profitability.
· Develop and implement an accounting system including the appropriate internal controls.
· Analyze receivables as to their collect ability and record the associated transactions.
· Apply a variety of inventory valuation methods under the periodic and perpetual systems in order to provide accurate information for the financial statements.
· Analyze the effect of debt versus equity financing on the corporationâ??s financial position and be able to determine the correct mix.
· Evaluate the effect of stock transactions on the companyâ??s equity position.
· Compute the future and present value of interest and bond principal to determine bond pricing.
· Analyze the financial position of a company through a review of their Annual Report.
· Discuss the ethical issues facing accountants and solve ethical problems.