MGMT 20000

Introductory Accounting
Online - Summer 2020

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About the Course
Accounting is the process of accumulating, measuring, recording, and communicating economic information. This course introduces you to financial accounting, which summarizes business transactions using rules and guidelines to produce financial reports. These financial reports or statements are provided to owners and management and to parties outside of the business, such as prospective investors, suppliers, lenders, customers and government regulators.  This course is a six week course and requires a high speed internet connection to complete online assignments and exams. 
Course Goals/Learning Objectives
The objectives of the course are to help students:
(1) understand what is in financial statements and what the statements say about a business
(2) identify the business activities that caused the amounts that appear in the statements
(3) understand how, when, and at what amount the effects of manager and employee actions will appear in the statements.
 
The learning objectives are to:
1. Gain an understanding of accounting terminology, principles and concepts.
2. Learn how business events and transactions are reported in financial statements.
3. Prepare basic financial statements for a business.
4. Analyze financial statements to assess the performance and risk of a business.
5. Learn how financial information is utilized in the decision-making process.
Sample Assignment
On May 5, Johnson Plumbing recieves a phone call from a customer needing a new water heater and schedules a service visit for May 7. On May 7, Johnson installs the new water heater. The customer pays for services on May 10. According to the revenue recognition principle, on which date should Johnson record service revenue?
 
a. May 5 (date of phone call)
b. May 7 (date of service)
c. May 10 (date of cash receipt)
d. Evenly over the three dates

MGMT 20000

Course Catalog
MGMT 20000 Introductory Accounting

Description
Credit Hours: 3.00. The objectives of the course are to help students: (1) understand what is in financial statements and what the statements say about a business, (2) identify the business activities that caused the amounts that appear in the statements, and (3) understand how, when, and at what amount the effects of manager and employee actions will appear in the statements. Typically offered Fall Spring Summer. CTL:IPO 1801 Accounting I
0.000 OR 3.000 Credit hours
Levels: Undergraduate, Graduate, Professional
Schedule Types: Distance Learning, Individual Study, Laboratory, Lecture
Offered By: School of Management
Department: School of Mgmt Adm & Instr
Course Attributes
Core Transfer Library, Lower Division
May be offered at any of the following campuses: Northwest- Westville Northwest- Hammond West Lafayette SW Anderson SW Columbus SW Kokomo SW Subaru Manufacturing Campus SW New Albany SW Richmond SW South Bend
Learning Objectives
1. Gain an understanding of accounting terminology, principles and concepts. 2. Learn how business events and transactions are reported in financial statements. 3. Prepare basic financial statements for a business. 4. Analyze financial statements to assess the performance and risk of a business. 5. Learn how financial information is utilized in the decision-making process.
Other Information
All Sections for this Course
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