Aug 24, 2019
BUS 103 - Accounting for Non-Accounting Majors
This is a survey course covering an extensive range of material including both financial and managerial accounting concepts and principles. The course will include understanding and analyzing current and long term assets, liabilities, shareholders' equity, revenues and expenses. Additional topics will include basics of accounting for manufacturing firms, projecting profits losses, budgeting and financial statement analysis. A user's perspective utilizing and analyzing accounting information will be taken throughout the course, with no coverage of generating accounting data.
4 Class Hours
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
- Demonstrate an understanding of basic financial and managerial accounting concepts, principles and practices.
- Demonstrate an understanding of the current ethical and legal business climate in terms of how they impact accounting.
- Report and analyze inventory, receivables, liabilities and stockholder's equity.
- Interpret income statements, balance sheets and statements of cash flow.
- Analyze an organization's financial performance and compare it with previous years and other firms in the same industry.
- Understand accounting in a modern manufacturing environment.
- Perform calculations necessary for breakeven analysis, estimating profits under various assumptions, and estimating fixed and variable costs.
- Understand and analyze cost behavior and budgets.
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