'BUSA' -- Accounting Courses

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)

## 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.