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Master Syllabus

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Administrative Unit: Business Administration Department
Course Prefix and Number: ACCT 280
Course Title: Accounting I (Financial)
Number of:
Credit Hours 3
Lecture Hours 3
Lab Hours 0
Catalog Description:

Introduction to the principles and concepts of accounting and the application of procedures relating to the complete accounting cycle. Preparation of financial statements for sole proprietorships, partnerships, and corporations is emphasized. Prerequisites: Sophomore standing; MGMT 150 highly recommended. A grade of C or higher is highly recommended before progressing to ACCT 281.

Prerequisite(s) / Corequisite(s):

Sophomore standing; MGMT 150 highly recommended. A grade of C or higher is highly recommended before progressing to ACCT 281.

Course Rotation for Day Program: Offered Fall and Spring.
Text(s): Most current editions of the following:

Principles of Accounting
By Warren, Carl S, Philip E Fess, and Jonathan Duchac (South-Western Publishing)
Financial and Managerial Accounting
By Williams, Jan R, Susan F. Haka, Mark S. Bettner and Joseph Carcello (Irwin/McGraw-Hill)
Principles of Accounting
By Needles, Belverd D., Marian Powers, Sherry K. Mills, and Henry Anderson (Houghton Mifflin)
Course Objectives
  • To understand the accounting cycle and financial statements (balance sheet, income statement and owners equity) for sole proprietorships.
    Measurable Learning
  • Record a business transaction in the journals and ledgers of the accounting system.
  • Prepare financial statements (income statement, statement of owner’s equity, balance sheet) for a business entity.
  • Design, implement, and evaluate an internal control system for a business entity.
  • Implement the proper accounting procedures for cash, receivables, inventory and long-term assets.
    Topical Outline: Every Business Administration course includes a written and/or oral presentation component.

  • Accounting as an information system
  • The double-entry system
  • Business income and adjusting entries
  • Completing the accounting cycle
  • Accounting for merchandising operations
  • Accounting systems and special purpose journals
  • Internal control and merchandising transaction
  • Accounting concepts and classified financial statements
  • Short-term liquid assets
  • Inventories
  • Long-term assets: acquisition and depreciation
  • Long-term assets: other issues and types

    Recommended maximum class size for this course: 30

    Library Resources:

    Online databases are available at You may access them from off-campus using your CougarTrack login and password when prompted.

    Prepared by: Thomas Stauder Date: April 16, 2013
    NOTE: The intention of this master course syllabus is to provide an outline of the contents of this course, as specified by the faculty of Columbia College, regardless of who teaches the course, when it is taught, or where it is taught. Faculty members teaching this course for Columbia College are expected to facilitate learning pursuant to the course objectives and cover the subjects listed in the topical outline. However, instructors are also encouraged to cover additional topics of interest so long as those topics are relevant to the course's subject. The master syllabus is, therefore, prescriptive in nature but also allows for a diversity of individual approaches to course material.

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