Maricopa Community Colleges  ACC109   19966-99999 
Official Course Description: MCCCD Approval: 12/12/95
ACC109 19966-99999 LEC 3 Credit(s) 3 Period(s)
Accounting Concepts
Introduction to accounting with emphasis on analysis and applications of financial information. Prerequisites: None. GBS151 and reading ability equivalent to RDG091 suggested but not required.
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MCCCD Official Course Competencies:
 
ACC109   19966-99999 Accounting Concepts
1. Explain users' needs for accounting information. (I)
2. Describe transaction analysis and recordkeeping systems of accounting. (II)
3. Compare and contrast managerial and financial accounting. (III)
4. Identify internal controls needed in accounting systems. (IV)
5. Describe the components of a balance sheet, income statement, statement of owners' equity and statement of cash flows. (V)
6. Identify procedures used to perform financial statement analysis. (V)
7. Define and exemplify the behavior of costs. (VI)
8. Analyze the profitability of a product through cost-volume- profit analysis. (VI)
9. Explain the importance of forecasting and budgeting in a business organization. (VI)
10. Describe taxes that affect business organizations. (VII)
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MCCCD Official Course Outline:
 
ACC109   19966-99999 Accounting Concepts
    I. Users of Accounting Information
        A. Groups of users
        B. Needs of users
      II. Accounting Systems
          A. Transaction analysis
          B. Books used in recordkeeping
        III. Managerial and Financial Accounting
          IV. Internal Controls
            V. Financial Statements
                A. Balance sheet
                B. Income statement
                C. Statement of owners' equity
                D. Statement of cash flows
                E. Financial statement analysis
                  1. Common size analysis
                  2. Ratio analysis
              VI. Analysis of Costs
                  A. Cost behaviors
                  B. Cost-volume-profit analysis
                  C. Forecasting and budgeting
                VII. Taxes in Business
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