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Uses of Accounting Information I

Course Design 2007-2008

Course Information
Organization Division Course Number Title Credits Developed by Lecture/Lab Ratio Transfer Status Activity Course CIP Code Assessment Mode Semester Taught GE Category Separate Lab Awareness Course Intensive Writing Course Eastern Arizona College Business BUA 230 Uses of Accounting Information I 3 Mark Anderson 3 Lecture, 0 Lab ASU-ACC 240, NAU-ACC 256, U of A-ACCT 210 No 52.0200 Pre/Post Test 25 Questions, 50 Points Fall and Spring Semesters None No No No

Prerequisites
Prior to concurrent enrollment in BUA 250 required; concurrent enrollment in BUS 101 not permitted.

Educational Value
A. TO GENERAL EDUCATION: The course provides an opportunity for the student to determine his/her interests and aptitudes in the field of accounting. It also gives the student a background that will increase his/her economic understanding of the community, country, and world in which he/she lives, by understanding principles and uses of financial information. It also develops such tools for lifelong learning as decision-making, communication, and positive group interaction. B. TO MAJOR/PROGRAM: This is the foundation course upon which all other accounting courses are based; it is a required course for all Business Administration majors, and provides a necessary understanding of "the language of business" for anyone entering that field. C. OTHER: Many of the principles learned in this course apply to the management of one's own personal finances and enhance the management of the student's financial affairs and decision making.
Eastern Arizona College Equal Opportunity Employer and Educator -1Uses of Accounting Information I

Compare the three major types of business. Outline the elements of the American free enterprise system. d. Required Supplies None. Contrast the profit motive vs. the social responsibility of business. Criteria-Performance will be satisfactory when: o o o o 2. Textbooks Kumen H. al. the social responsibility of business. Learning objectives What you will learn as you master the competency: Eastern Arizona College Equal Opportunity Employer and Educator -2- Uses of Accounting Information I . Year: 2004. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. b. learner contrasts the profit motive vs. financial statement analysis and understanding the business cycle. Edition: 3rd. Introduction to Financial Accounting: A User Perspective. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. Competencies and Performance Standards 1. Emphasizes using accounting information to meet the needs of financial decision makers. by taking and passing exam taken on the day given in class without the use of textbook or notes. learner compares the three major types of business. Describe the three major forms of business organization.. et. Learning objectives What you will learn as you master the competency: a. Jones. Outline the factors of production for business. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Explain the major components and importance of generally accepted accounting principles and outside assurance. Publisher: Prentice Hall. learner outlines the factors of production for business. c. learner describes the three major forms of business organization.Description Introduction to the uses of financial information for internal and external purposes.

Describe the importance of creative decision making. c. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. when you are present for in-class group analysis and discussion and fulfill role assignment for that day. Articulate the basic assumptions of GAAP. you provide an explanation of the basic of and need for Generally Accepted Accounting Principles (GAAP). Learning objectives What you will learn as you master the competency: a. Summarize the types of decision making techniques. Determine as to when the application of modifying conventions to GAAP are necessary. Differentiate among the variety of audit opinions that may be presented on an audit report. Discuss the kinds of information provided on an annual report and 10-K report. you discuss the kinds of information provided on an annual report and 10-K report. d. you examine the need for audits of financial statements. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. h.a. c. d. you articulate the basic assumptions of GAAP. you discriminate among the variety of audits available. -3Uses of Accounting Information I Eastern Arizona College Equal Opportunity Employer and Educator . by taking and passing exam taken on the day given in class without the use of textbook or notes. Provide an explanation of the basics of and need for Generally Accepted Accounting Principles (GAAP). Examine the need for audits for financial statements. you determine as to when the application of modifying conventions to GAAP are necessary. Identify the two information processing styles. Apply decision-making skills to economic decision situations faced by external business stakeholders. Explain the tradeoff between rewards and sacrifices. e. g. Outline the seven steps of decision making. e. Describe the basic principles of accounting under GAAP. b. f. Discriminate among the variety of audits available. b. you describe the basic principles of accounting under GAAP. you differentiate among the variety of audit opinions that may be presented on an audit report. Criteria-Performance will be successful when: o o o o o o o o 3.

Identify the primary qualities of accounting information. learner contrasts the types of ethical systems used in making decisions. j. Demonstrate the ability to make decisions. d. Detail the process of issuing bonds payable in both the primary market and the secondary market. Characterize the elements of owner's equity on a balance sheet. Differentiate among the needs of the various internal and external economic information users. e. learner identifies the two information processing styles. i. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. learner explains the effect that personal values have on decision making. learner explains the tradeoff between rewards and sacrifices. g. Discriminate between common stock and preferred stock. b. as assignments are submitted by the due date indicated on the course schedule. Identify the secondary qualities of information. Learning objectives What you will learn as you master the competency: a. -4Uses of Accounting Information I Eastern Arizona College Equal Opportunity Employer and Educator . by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Describe the accounting elements present in the balance sheet. g. l. learner outlines the seven steps of decision making. learner summarizes the types of decision making techniques. h. k. learner demonstrates the ability to make decisions. Performance Standards Competence will be demonstrated: o o o o o o o o o o o o o 4. Summarize how financial institutions earn profits. Explain the corporate organizational structure.f. Explain the effect that personal values have on decision making. Criteria-Performance will be satisfactory when: Classify the results of economic transactions as they affect the balance sheet. by taking and passing exam taken on the day given in class without the use of textbook or notes. Illustrate the effects of transactions that affect the balance sheet. f. Compare the characteristics of primary and secondary stock markets. learner describes the importance of creative decision making. Contrast the types of ethical systems used in making decisions. h. by addressing a sample problem-situation case provided on a take-home assignment. Discuss the factors that contribute to useful accounting information. c.

Performance Standards Competence will be demonstrated: o o o o o Criteria-Performance will be satisfactory when: o o o o o o o o learner describes the accounting elements present in the balance sheet. learner characterizes the elements of owner's equity on a balance sheet. learner compares the characteristics of primary and secondary stock markets. from a variety of financial transactions. learner explains the corporate organizational structure. by taking and passing exam taken on the day given in class without the use of textbook or notes. Prepare a statement of owner's equity for a corporation. expenses. and their resultant effect on owner's equity. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. 5. learner summarizes how financial institutions earn profits. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. by taking and passing exam taken on the day given in class without the use of textbook or notes. b. Demonstrate the relationship among revenues. learner discriminates between common stock and preferred stock. d. learner details the process of issuing bonds payable in both the primary market and the secondary market. learner illustrates the effects of transactions that affect the balance sheet. Describe the characteristics of a revenue. in both single-step and multi-step formats. c. Show how the three basic financial statements articulate with one another. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. Compare equity and debt investments. Learning objectives What you will learn as you master the competency: a. partnership and a proprietorship.i. Describe the characteristics of an expense. as assignments are submitted by the due date indicated on the course schedule. by taking and passing quiz given on the first day the topic is addressed in class without -5Uses of Accounting Information I Eastern Arizona College Equal Opportunity Employer and Educator . Construct a simple income statement. Classify transactions as to revenues and expenses. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. f. e.

by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Demonstrate the effects of different depreciation methods. Learning objectives What you will learn as you master the competency: a. learner compares the two bases of economic measurement. learner prepares an income statement according to the principles of cash accounting. learner prepares a statement of owner's equity for a corporation. by taking and passing exam taken on the day given in class without the use of textbook or notes. c. Illustrate the use of accounting methods in long-lived depreciable assets. from a variety of financial transactions. Prepare an income statement according to the principles of cash accounting. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. b. learner constructs a simple income statement. merchandise inventory and cost of goods sold. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. in both single-step and multi-step formats. Discriminate between cash and accrual bases of accounting. learner prepares an income statement according to the principles of accrual accounting.the use of textbook or notes. learner describes the characteristics of a revenue. Characterize the problems of periodic measurement. d. Distinguish the effects on financial statements between cash and accrual accounting. Prepare an income statement according to the principles of accrual accounting. Criteria-Performance will be satisfactory when: o o o o o o 6. learner shows how the three basic financial statements articulate with one another. learner characterizes the problems of periodic measurement. Eastern Arizona College Equal Opportunity Employer and Educator -6- Uses of Accounting Information I . Learning objectives What you will learn as you master the competency: a. e. partnership and a proprietorship. learner discriminates between cash and accrual bases of accounting. learner describes the characteristics of an expense. learner classifies transactions as to revenues and expenses. Compare the two bases of economic measurement. Criteria-Performance will be satisfactory when: o o o o o 7.

learner demonstrates the effects of difference depreciation methods. c. learner differentiates the effects on inventory costs of the FIFO. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule.and long-term Criteria-Performance will be satisfactory when: o Eastern Arizona College Equal Opportunity Employer and Educator -7- Uses of Accounting Information I .b. learner compares periodic and perpetual inventory systems. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Criteria-Performance will be satisfactory when: o o o o o 8. LIFO. Learning objectives What you will learn as you master the competency: a. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. d. by taking and passing exam on the day given in class without the use of textbook or notes. Classify a balance sheet according to the nature of its short. and average cost flow assumptions. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Show how to determine gains and losses on the disposal of depreciable assets. Show how to track the physical flow and cost flow of inventory. learner shows how to determine gains and losses on the disposal of depreciable assets. b. Compare periodic and perpetual inventory systems. Distinguish when and how to present the effects of unusual transactions on the financial statements. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. learner shows how to track the physical flow and cost flow of inventory. Differentiate the effects on inventory costs of the FIFO. and average cost flow assumptions. by taking and passing exam taken on the day given in class without the use of textbook or notes. learner classifies a balance sheet according to the nature of its short. e. Order an income statement according to the nature of its recurring and nonrecurring items. when written paper includes points addressed in other class activities and a logical conclusion is drawn. LIFO.and long-term assets and liabilities.

Performance Standards Competence will be demonstrated: o o o as assignments are submitted by the due date indicated on the course schedule. Learning objectives What you will learn as you master the competency: a. o learner orders an income statement according to the nature of its recurring and nonrecurring items. Break down business transactions into operating. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. when learner is present for in-class group analysis and discussion and fulfills role assignment for that day. learner breaks down business transactions into operating. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. based on a typical set of business financial statements. e. b. and financing activities. industry. c.assets and liabilities. Construct a statement of cash flows. Explain the limitations of these ratios. and prepare. based on a typical set of business financial statements. Analyze the financial statements of a typical business. a statement of cash flows. investing. d. investing. Ascertain the objectives of the various users of financial statements. Categorize business transactions for. learner constructs a statement of cash flows. Analyze these ratios to determine the financial condition of the business. and political information. Determine how to gather background economic. and financing activities. 9. according to the principles learned in the course. Criteria-Performance will be satisfactory when: o o 10. Eastern Arizona College Equal Opportunity Employer and Educator -8- Uses of Accounting Information I . b. Calculate the various ratios on a typical set of business financial statements. by taking and passing exam taken on the day given in class without the use of textbook or notes. Learning objectives What you will learn as you master the competency: a. by taking and passing exam taken on the day given in class without the use of textbook or notes.

Performance Standards Competence will be demonstrated: o o o o as assignments are submitted by the due date indicated on the course schedule. learner determines how to gather background economic. Classify components of supply chain. when you are present for in-class group analysis and discussion and fulfill role assignment for that day. industry. learner analyzes these ratios to determine the financial condition of the business. you prepare an overview of Enterprise Resource Planning (ERP). and political information. Characterize supply chain variations by business model. calculation of the ten key ratios. by taking and passing quiz given on the first day the topic is addressed in class without the use of textbook or notes. learner explains the limitations of these ratios. you describe components of value chain and business process. Prepare an overview of Enterprise Resource Planning (ERP). Criteria-Performance will be satisfactory when: o o o o o 11. and conclusions drawn as to the financial well-being of the business. b. Learning objectives What you will learn as you master the competency: a. Describe components of value chain and business process. you classify components of supply chain. by taking and passing exam taken on the day given in class without the use of textbook or notes. Prepare an overview of Enterprise Resource Planning (ERP). learner ascertains the objectives of the various users of financial statements.o financial statement analysis includes coverage of horizontal and vertical income statement analysis. Criteria-Performance will be satisfactory when: o o o o Types of Instruction Classroom Presentation Grading Information Grading Rationale Eastern Arizona College Equal Opportunity Employer and Educator -9- Uses of Accounting Information I . c. you characterize supply chain variations by business model. d. learner calculates the various ratios on a typical set of business financial statements.

10 - Uses of Accounting Information I .One-hour tests and final exam-60% Homework-15% Team activities-15% Post-test-10% Total-100% Grading Scale A B C D F 90-100% 80-89% 70-79% 60-69% Below 60% Eastern Arizona College Equal Opportunity Employer and Educator .