AC 121 introduces the student to the basic structure of accounting and helps the student understand how accounting is used as an element of making sound business decisions. AC 122 is a continuation of the fundamentals of accounting theory. This course covers the concepts and practices as they pertain to various forms of business organizations such as partnerships and corporations. It covers inventory, depreciation, liabilities, long-term installment notes and bonds, and cash flow statements. You will learn to use the microcomputer as a tool for keeping accounting records and presenting accounting data through the use of computerized accounting simulations and electronic spreadsheets.
Instruction includes a combination of classroom and lab activities.
This course presents fundamental cost accounting concepts and objectives, cost data accumulation procedures using job order and process costing. Theory and applications in the determination of income and the valuation of balance sheet accounts are explored. Generally accepted accounting principles are reviewed and analyzed and comparisons are made of acceptable alternatives and other proposals. This course is a study of additional balance sheet items, primarily corporate capital accounting, business combination, and reorganization. Included are financing and investing activities of business organizations.