'BUSA' -- Accounting Courses
 
   
 

 
BUSA 11 Course Image

BUSA 11 - Fundamentals of
                   Accounting  (3 units)
This course covers the following topics:
  • accounting vocabulary and theory
  • equations to solve word problems
  • simple and compound interest
  • present value
  • consumer and business credit
  • mortgages
  • financial statements and ratios
  • inventory
  • depreciation
  • business taxes
  • investments
 
(54 hours lecture;      Degree appropriate)
Prerequisite:   BUSA 68 - Business Mathematics  or eligibility for  MATH 50 - Pre-Algebra

Course Measurable Objectives:

  1. Calculate simple interest; use simple interest formula to compute various elements of a promissory note.
  2. Calculate compound interest; use compound interest formula to compute future value, APY; use present value tables to compute present value of a future amount.
  3. Calculate finance charge of business credit including lines of credit; calculate finance charge and monthly payment of an installment loan.
  4. Calculate monthly payment and interest paid on mortgage; prepare amortization schedule; compute closing costs; calculate credit available for home equity loan and housing expense ratio obligation ratio of borrower.
  5. Prepare income statement and balance sheet; prepare vertical and horizontal analysis of financial statements; calculate financial ratios and prepare a trend analysis.
  6. Compute cost of inventory using FIFO, LIFO, and average methods; estimate ending inventory; calculate and evaluate inventory turnover comparing to industry average.
  7. Calculate depreciation using 4 GAAP acceptable methods.
  8. Determine sales, excise, and property tax; Calculate taxable income; determine tax liability and tax refund for individuals; calculate corporate tax and net income.
  9. Demonstrate stock and dividend information via stock quotation table; Compute price-earnings ratio; record stock transactions for purchase and sale of stock; Calculate bond price; compute current bond yield; Calculate sales charge, net asset value and return on investment in relationship to mutual funds.

Course Level Student Learning Outcomes:


Students completing BUSA 11 - Fundamentals of Accounting will:
  1. have discovered new knowledge that relate to discipline, technical and human skills, enabling them to be productive members of the community.
  2. have developed a genuine professional interest in topics related to the courses completed that will contribute toward motivation for life-long learning.
  3. have developed the ability to relate material from each course completed to their current and future professional needs, even if these needs fall into a different discipline.
NOTE:  Every effort is made to ensure the accuracy and timeliness of this information; however, students should consult the college catalog for the most current and accurate information regarding degrees, certificates, or courses.
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