BA 211 Financial Accounting

Students will gain an understanding of basic terms, the accounting model, and the content of financial statements and then focus on understanding and interpreting the information they contain.

Credits

4

Prerequisite

MTH 095 or higher or test, BA 101 and WR 121Z or WR 122Z or WR 123

Course Learning Outcomes

Upon successful completion of this course, the student will be able to:
1. Understand relevance, reliability, consistency, conservatism and materiality as they relate to accounting
2. Complete the accounting cycle for service and merchandising businesses, including adjusting and closing entries
3. Prepare balance sheet, income statements, and statement of owners’ equity for various businesses
4. Understand the uses and preparation of the statement of cash flows, how to manage cash, and internal controls for cash
5. Analyze and interpret financial statements with annual reports by utilizing a variety of statements and ratios
6. Understand and be competent in accounting for basic asset transactions including acquiring both tangible and intangible assets, using assets and disposing of assets
7. Measure and report accounts receivables and bad debts utilizing the allowance method. Understand issues related to other current receivables
8. Discuss the impacts of various bond and debt instrument, understand the role of leverage, calculate bond prices, interpret bond quotes, and understand the effect of interest rate changes on bonds, understand liabilities
9. Interpret and know the contents of the statement of owners’ equity. Understand a variety of stock transactions including preferred stock, treasury stock and additional paid in capital