Maricopa Community Colleges  ACC230   19946-19965 
Official Course Description: MCCCD Approval: 04/26/94
ACC230 19946-19965 LEC 3 Credit(s) 3 Period(s)
Uses of Accounting Information I
Introduction to the uses of accounting information for internal and external purposes with emphasis on financial statement analysis. Prerequisites: Grade of "C" or better in ACC111 or ACC211, or a grade of "C" or better in (ENG101 and MAT155 and CRE101), or equivalent, or satisfactory score on District placement exam.
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MCCCD Official Course Competencies:
 
ACC230   19946-19965 Uses of Accounting Information I
1. Describe the decision-making process. (I)
2. Describe the history and development of the business cycle, economic systems and the forms of business organizations. (II)
3. Explain the internal and external users' need for accounting information. (III)
4. Identify key accounting organizations and explain their role in business. IV)
5. Explain the development and significance of generally accepted accounting principles (GAAP). (IV)
6. Describe current GAAP concepts. (IV)
7. Evaluate ethical issues that arise in business. (V)
8. Identify the components of an annual report. (VI)
9. Analyze the idividual components of a balance sheet, income statement, owners' equity, and statement of cash flows. (VI)
10. Describe the history and development of double-entry computerized accounting systems. (VII)
11. Describe international accounting practices. (VIII)
12. Describe how an organization controls costs through standard costing and variance analysis. (V)
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MCCCD Official Course Outline:
 
ACC230   19946-19965 Uses of Accounting Information I
    I. History and development of business
        A. Business cycle
        B. Relation to economic systems
        C. Forms of business organization
      II. History and development of accounting systems
          A. History
          B. Double-entry systems
          C. Computerized accounting systems
          D. Careers in accounting
          E. Internal controls
        III. Internal users and accounting information
            A. Needs of users
              1. Financial statement
              2. Other reports
            B. Responsibility centers
            C. Performance measurements
              1. Return on investment
              2. Residual income
          IV. Managerial accounting
              A. Purpose and characteristics
              B. Product costing systems
            V. Analysis of costs
                A. Cost behaviors
                B. Cost-volume-profit analysis
                C. Decision analysis
                D. Budgeting
                E. Standard costs
                F. Variance analysis
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