Course Descriptions
ACCT 2301 Principles of Financial Accounting
This course is an introduction to the fundamental concepts of financial accounting
as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to
transactions and events that affect business organizations. Students will examine
the procedures and systems to accumulate, analyze, measure, and record financial transactions.
Students will use recorded financial information to prepare a balance sheet, income
statement, statement of cash flows, and statement of shareholder's equity to communicate
the business entity's results of operations and financial position to users of financial
information who are external to the company. Students will study the nature of assets,
liabilities, and owners' equity while learning to use reported financial information
for purposes of making decisions about the company. Students will be exposed to International
Financial Reporting Standards (IFRS). Lab required. Prerequisite: Meet TSI college-readiness
standard for Mathematics; or equivalent. 3 credit hours. (A)
ACCT 2302 Principles of Managerial Accounting
This course is an introduction to the fundamental concepts of managerial accounting
appropriate for all organizations. Students will study information from the entity's
accounting system relevant to decisions made by internal managers, as distinguished
from information relevant to users who are external to the company. The emphasis is
on the identification and assignment of product costs, operational budgeting and planning,
cost control, and management decision making. Topics include product costing methodologies,
cost behavior, operational and capital budgeting, and performance evaluation. Lab
required. Prerequisite: ACCT 2301. 3 credit hours. (A)