ACCT 320 - Fundamentals of Accounting and Finance

5 CR

Provide students in non-accounting programs with a basic understanding of financial accounting, managerial accounting, and finance. The course will emphasize how financial data is used throughout the organization and how that data is transformed into useful information to support business decisions.

Prerequisite(s): Business Management and Technology, BAS admission, and BUS 101 and ENGL 101, both with a C or better, or permission of the instructor.

Course Outcomes
• Explain and demonstrate the role and use of accounting information and business ethics in the decision-making process.

• Explain the steps taken to complete the accounting cycle.

• Explain, analyze, and interpret the basic financial statements, income statement, balance sheet, statement of cash flows, including the concepts of time value of money, the accounting equation, and ratio analysis.

• Explain the difference between cash basis and accrual basis accounting.

• Prepare a cash flow forecast.

• Explain the budgeting process and the various types of budgets.

• Explain and evaluate the factors that affect an entity’s overall cost of capital.

• Analyze organizational performance using budget variance analysis, Internal rate of return,(IRR), and Net Present Value (NPV).

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