Delves into the most significant activities in business. Topics include
ownership, organization procedures through study of accounting cycle,
asset valuation and financial statements. Develops foundation of
accounting knowledge for additional learning in subsequent courses.
No prerequisite. Credit given for AC11 or AC13/AC14, but not both.
A-E-G/4 credit hrs.
III. GOALS OF THE COURSE: The business faculty will assist business and
Non-business majors to achieve the desired learning outcomes listed below.
In addition, the faculty will provide an opportunity for all students to develop
improve, expand and practice their written and oral communication, teamwork,
research, information management and decision-making skills.
To that end, instruction will directed at exposing students to:
The historical influences that have shaped U.S. business operations;
How profitable businesses can be started, owned and operated;
Why social and ethical issues can influence the operation of a business;
What international and global forces affect U.S. businesses; and
What career opportunities are available in business.
IV. STUDENT LEARNING OUTCOMES:
Upon successful completion of BA11 –Introduction to Business students will be able to:
A. explain the interrelationship between the economic, legal, social and
technical aspects of the business environment in order to make better
decisions;
B. tracemiliar with additional fundamental accounting topics such as:
1. financial statements
2. accruals and deferrals
3. merchandising operations
4. inventory
5. internal control and cash
6. receivables and payables
7. plant and intangible assets
8. payroll accounting
C. be prepared for more advanced study in accounting and/or
other related business subjects.
D. be familiar with accounting software.
V. SPECIAL INSTRUCTIONS/INFORMATION FOR THE TEACHER:
A. Prerequisite to this course: None
B. Programs that require this course:
A.S. Degree: Accounting
Business Administration
A.A.S. Degree: Accounting
Business Administration
Culinary Arts
Office Management
Paralegal Studies
Marketing
Retail Business Management
1-Year Certificate: Accounting
Business Management
C. Courses which require this as a prerequisite or corequisite:
AC12:Principles of Accounting II
AC15:Managerial Accounting
AC16:Practical Accounting
AC17:Managerial Accounting for the Hospitality Industry
AC26:Governmental Accounting
AC37:Computer Accounting Principles
AC82:Electronic Spreadsheet Applications for Accounting
D. External Jurisdiction: None
VI. MAJOR TOPICS REQUIRED (50 Hours)
A. THE ACCOUNTING CYCLE (18.5 HOURS)
Introduction to financial transactions, financial statements and
double entry accounting. Adjusting the accounts for accruals and
deferrals, closing the accounts and completion of the accounting
cycle.
B. MERCHANDISING OPERATIONS (11.5 HOURS)
Recording purchases and sales of inventory under the perpetual
System. Inventory cost flow assumptions and the affect on financial
Statements. Use of subsidiary ledgers.
C. ACCOUNTING FOR ASSETS (11.5 HOURS)
1. Internal control and cash. Bank reconciliations.
2. Accounts receivable and the allowance for bad debts. Notes
receivable and accrued interest calculations.
3. Plant assets, depreciation and disposal. Intangible assets
and amortization.
D. CURRENT LIABILITIES AND PAYROLLS (3.5 HOURS)
E. EVALUATION OF STUDENT PERFORMANCE (5 HOURS)
It is strongly suggested that there be at least three (3) full period examinations (or the equivalent in distance education sections) and
three (3) computer projects. The examinations could include short
answers, journal entries, financial statement preparations and essay
questions.
The Business Administration and Accounting Department endorses the college’s “Writing to Learn” initiative and strongly recommends that a writing component be included in all business and accounting courses.
