Catalog Course Description:

Explores financial accounting, its importance and how it is used by internal and external users as a decision-making tool. Covers forms of organizations; accounting information systems; application of general accounting principles; and  preparation, interpretation and analysis of various forms of financial statements. Includes topics on cash flow statement, cash and accrual accounting concepts, merchandising operation, internal control and ethics, reporting and accounting for receivables, payables, long-term assets and liabilities, inventory, depreciation, stockholders’ equity, stocks and bonds.  Strongly recommended: Business 7.  4 hours. 

Course Objectives:    

Upon completion of this course, the student should be able to: 

·         prepare, apply and demonstrate an understanding of various forms of corporate financial statements including statement of cash flows;
·         prepare journal entries, post to ledger, perform adjusting and closing entries at the end of the period using accrual basis and corporate form of business;
·         list financial reporting rules and disclosure;
·         analyze financial statements using intracompany, intercompany, industry averages comparisons;
·         exhibit methods of internal control including Sarbanes-Oxley Act;
·         demonstrate an understanding of the cash and accrual methods of accounting;
·         process transactions relating to both short-and long-term assets, liabilities, receivable and payables;
·         apply different methods of Inventory and Depreciation;
·         reporting requirements for stockholders’ equity;
·         process transactions relating to a merchandising business;
·         discuss the differences in the accounting processes of the sole proprietorship, partnership and corporations;
·         identify ethical issues, decide appropriate course of action by applying critical thinking and communication skills.

Textbook Information

·    Financial Accounting Fundamentals (shrink wrapped package of the text and Connect Plus code) by John Wild, 3^rd ed. ISBN - 9780077866235 (This particular ISBN is customized for Chabot College and is only available at Chabot bookstore).

·     This package comes with Connect Plus Access Code (costs $98.50 if bought alone), which gives you access to e-book and other useful online resources.

back to top

Grading Policy 

  back to top