ACC 150 Accounting Concepts

A study of the basic concepts of financial and managerial accounting as applied to small businesses, focusing on the importance of accounting to decision making in business. Coverage includes the theory of debits and credits, the accounting cycle, income statement and balance sheet presentation, financial statement analysis, accounting for service and merchandising enterprises, internal controls, cash, receivables, payroll, notes payable, introduction to cost/managerial accounting including job order costing in the manufacturing sector, budgeting, and cost-volume-profit analysis. Prerequisite(s): MAT 122  or higher-level mathematics course, or math placement level 2 or higher. 3 hour(s).