ACCT 200 - Accounting Basics for Managers

3 Credits
This course is designed strictly for the non-business major. It is a comprehensive survey course of financial and managerial accounting concepts that discusses the financial aspects of starting and growing a business. Specifically, the course explores the role of accounting in business, examining the balance sheet, profit/loss statements, and cash flow reports. Students will also learn how to analyze financial statements and financial trends.

Course Learning Outcomes:
1. Define and explain business activities, the role of accounting in business, and accounting principles.
2. Understand accrual accounting concepts and apply knowledge to a merchandising business.
3. Identify financial statements, apply analytical calculations to these statements, and interpret results.
4. Describe and discuss proper accounting treatment and reporting of cash receivables inventory fixed and intangible assets current liabilities and stockholders equity, including application of internal controls and regulations.
5. Apply concepts of cost behavior, differential product analysis, product pricing, and capital investment in making business decisions.
6. Develop budgets and understand their usage in evaluating variances and budgetary performance.