Financial Accounting 3 Credit Equivalent

Gather, record, analyze, and evaluate financial accounting information in the organization.

Projects

Number Title Description Credit Equivalent
FACT 200 Financial Accounting: The Language of Business

Every day, millions of financial transactions take place in businesses across the United States and around the world.  With so many financial transactions, how can managers know if the business is currently profitable?  How can creditors know if businesses will pay back the money they owe?  How can investors know if a business has growth prospects?  The answer is that all three of these groups, managers, creditors, and investors, use accounting information to make decisions. Accounting is frequently called the “language of business” because accountants take all of those transactions that happen every day in businesses and record those transactions in a consistent and comparable manner in order to provide stakeholders, like managers, creditors, and investors, with information they can use to make sound business decisions. In this project, you are going to learn the “language of business.”  You will begin with basic accounting concepts including debits, credits, and accounts.  You will also learn the principles and the constraints of accounting.  Once you have mastered these ideas, you will move on to journal entries and trial balances.  This project concludes with the preparation and analysis of financial statements.

Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

2
FACT 205 Financial Accounting: Ethics and Internal Controls

In a perfect world there would be no need for accounting internal controls or discussions about ethics.  With the state of the world today these are very important topics that all business students need to understand.  Failures of internal controls and unethical behavior are frequently stories in the business news.  In this project, you will learn how these tragic situations might have been avoided.  Internal controls have two primary purposes.  They should help ensure that accounting systems operate as they are designed to operate.  This means that established procedures are followed and any exceptions are noted and properly authorized.  Following standardized procedures results in efficient operations and accurate accounting information. The second purpose is to safeguard assets from misappropriation by theft or fraud.  A strong system of internal controls denies the opportunity to steal from an organization.  You will learn how to review an organization’s system of internal controls, identify shortcomings and recommend improvements. In this project, you are going to learn about ethics in business and specifically in accounting.  You will develop a framework for analyzing ethical dilemmas as you work through several scenarios.

Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

Prerequisites:

  • FACT 200: Financial Accounting: The Language of Business

    FACT 200: Financial Accounting: The Language of Business

    Every day, millions of financial transactions take place in businesses across the United States and around the world.  With so many financial transactions, how can managers know if the business is currently profitable?  How can creditors know if businesses will pay back the money they owe?  How can investors know if a business has growth prospects?  The answer is that all three of these groups, managers, creditors, and investors, use accounting information to make decisions. Accounting is frequently called the “language of business” because accountants take all of those transactions that happen every day in businesses and record those transactions in a consistent and comparable manner in order to provide stakeholders, like managers, creditors, and investors, with information they can use to make sound business decisions. In this project, you are going to learn the “language of business.”  You will begin with basic accounting concepts including debits, credits, and accounts.  You will also learn the principles and the constraints of accounting.  Once you have mastered these ideas, you will move on to journal entries and trial balances.  This project concludes with the preparation and analysis of financial statements.

    Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

1
Number
FACT 200
Title
Financial Accounting: The Language of Business
Description

Every day, millions of financial transactions take place in businesses across the United States and around the world.  With so many financial transactions, how can managers know if the business is currently profitable?  How can creditors know if businesses will pay back the money they owe?  How can investors know if a business has growth prospects?  The answer is that all three of these groups, managers, creditors, and investors, use accounting information to make decisions. Accounting is frequently called the “language of business” because accountants take all of those transactions that happen every day in businesses and record those transactions in a consistent and comparable manner in order to provide stakeholders, like managers, creditors, and investors, with information they can use to make sound business decisions. In this project, you are going to learn the “language of business.”  You will begin with basic accounting concepts including debits, credits, and accounts.  You will also learn the principles and the constraints of accounting.  Once you have mastered these ideas, you will move on to journal entries and trial balances.  This project concludes with the preparation and analysis of financial statements.

Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

Credit Equivalent
2
Number
FACT 205
Title
Financial Accounting: Ethics and Internal Controls
Description

In a perfect world there would be no need for accounting internal controls or discussions about ethics.  With the state of the world today these are very important topics that all business students need to understand.  Failures of internal controls and unethical behavior are frequently stories in the business news.  In this project, you will learn how these tragic situations might have been avoided.  Internal controls have two primary purposes.  They should help ensure that accounting systems operate as they are designed to operate.  This means that established procedures are followed and any exceptions are noted and properly authorized.  Following standardized procedures results in efficient operations and accurate accounting information. The second purpose is to safeguard assets from misappropriation by theft or fraud.  A strong system of internal controls denies the opportunity to steal from an organization.  You will learn how to review an organization’s system of internal controls, identify shortcomings and recommend improvements. In this project, you are going to learn about ethics in business and specifically in accounting.  You will develop a framework for analyzing ethical dilemmas as you work through several scenarios.

Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

Prerequisites:

  • FACT 200: Financial Accounting: The Language of Business

    FACT 200: Financial Accounting: The Language of Business

    Every day, millions of financial transactions take place in businesses across the United States and around the world.  With so many financial transactions, how can managers know if the business is currently profitable?  How can creditors know if businesses will pay back the money they owe?  How can investors know if a business has growth prospects?  The answer is that all three of these groups, managers, creditors, and investors, use accounting information to make decisions. Accounting is frequently called the “language of business” because accountants take all of those transactions that happen every day in businesses and record those transactions in a consistent and comparable manner in order to provide stakeholders, like managers, creditors, and investors, with information they can use to make sound business decisions. In this project, you are going to learn the “language of business.”  You will begin with basic accounting concepts including debits, credits, and accounts.  You will also learn the principles and the constraints of accounting.  Once you have mastered these ideas, you will move on to journal entries and trial balances.  This project concludes with the preparation and analysis of financial statements.

    Required text: Wild, John J. Financial Accounting: Information for Decisions, 5th Edition. ISBN: 978-0073527017

Credit Equivalent
1