Development of accounting theory and practice as applied to: the institutional structure of financial accounting, conceptual framework and financial reporting, overview of accounting systems, review of accounting procedures, income statement, balance sheet, statement of cash flows, cash, receivables, valuation of inventories and cost of goods sold, and time value of money. Prerequisite: ACCT 281.
Prerequisite(s) / Corequisite(s):
Course Rotation for Day Program:
Most current editions of the following:
Most current edition of one of the following:
By Kieso, Donald E., Jerry J. Weygandt, and Terry D. Warfield (Wiley) Recommended
By Stice, James, Earl Kay Stice, and Fred Skousen (ITP) Recommended
To apply accounting theory to financial accounting problems and to financial statements.
To engage in oral and written communication, as well as critical and creative thinking.
To develop skills in information technology, self-study and applied research.
To promote ethical awareness and professional responsibilities.
Describe the institutional structure of financial accounting.
Describe the conceptual framework of financial reporting.
Describe how to conduct an overview of accounting procedures.
Prepare and interpret the income statement, balance sheet, and statement of cash flows.
Demonstrate the accounting and control of cash and receivables.
Demonstrate the valuation of inventories and cost of goods sold.
Calculate the time value of money.
Financial accounting and accounting standards
Accounting information systems
The income statement
The balance sheet and cash flow statement
Time value of money
Cash and receivables
Valuation of inventories and cost of goods sold
Recommended maximum class size for this course: 30
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.