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Center for Curriculum and Transfer Articulation
Accounting Concepts
Course: ACC109

First Term: 2019 Spring
Lecture   3.0 Credit(s)   3.0 Period(s)   3.0 Load  
Course Type: Occupational
Load Formula: S

Description: Introduction to accounting with emphasis on analysis and applications of financial information.

MCCCD Official Course Competencies
1. Explain users` needs for accounting information. (I)
2. Describe transaction analysis and recordkeeping systems of accounting. (II)
3. Compare and contrast managerial and financial accounting. (III)
4. Identify internal controls needed in accounting systems. (IV)
5. Describe the components of a balance sheet, income statement, statement of owners` equity and statement of cash flows. (V)
6. Identify procedures used to perform financial statement analysis. (V)
7. Define and exemplify the behavior of costs. (VI)
8. Analyze the profitability of a product through cost-volume- profit analysis. (VI)
9. Explain the importance of forecasting and budgeting in a business organization. (VI)
10. Describe taxes that affect business organizations. (VII)
MCCCD Official Course Outline
I. Users of Accounting Information
   A. Groups of users
   B. Needs of users
II. Accounting Systems
   A. Transaction analysis
   B. Books used in recordkeeping
III. Managerial and Financial Accounting
IV. Internal Controls
V. Financial Statements
   A. Balance sheet
   B. Income statement
   C. Statement of owners` equity
   D. Statement of cash flows
   E. Financial statement analysis
      1. Common size analysis
      2. Ratio analysis
VI. Analysis of Costs
   A. Cost behaviors
   B. Cost-volume-profit analysis
   C. Forecasting and budgeting
VII. Taxes in Business
MCCCD Governing Board Approval Date: 12/12/1995

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.