To develop an understanding and appreciation of accounting principles and practices for general, vocational, and professional purposes. Understand how to determine the cost of operating assets and to record the related depreciation and amortization using straight-line and units of production methods.
Catalog Course Description Recommended prerequisite: ACC Introduces the basic principles of financial accounting for business enterprises with special emphasis on accounting for corporations.
To provide detailed information on specialized areas of the balance sheet and income statement. Problems:, ACC Week 3 DQ Credit Sales and Collections Review ATC of Chapter 5 and post your thoughts on the question regarding the issues and procedures that a business must consider when dealing with credit sales and collections.
Includes theory of debit and credit, accounting cycle, special journals, receivables, depreciation, inventory, long-term debt, corporate capital, and preparation of basic financial statements.
However, certain companies have been falsifying the actual date when the stock options are granted to their executives. Also, research the most recent accounting issues that FASB is taking into consideration. What are the costs of fraudulent behavior?
Understand what constitutes a liability and how to separate liabilities into current and long-term components for reporting purposes.