Catalog Course Search Details

 Department:    BASAM

 Course #:    334

 Credits:    5

 Variable:     No

 IUs:    5

 CIP:    520201

 EPC:    50B

 REV:    2018

 Course Description  

Master the basic principles of financial and managerial accounting to facilitate successful execution of management responsibilities. Define financial statement interrelationships, financial analysis, product costing, budgetary control systems, and information reporting for the planning, coordinating, and the use of accounting information to monitor the performance of a business and the achievement of organizational goals.

 Prerequisite  

Prerequisite: Admission to BASAM program and BASAM Director permission.

Contact Hours (based on 11 week quarter)

Lecture: 55

Lab: 0

Other: 0

Systems: 0

Clinical: 0

Intent: Distribution Requirement(s) Status:  

Vocational Preparatory Required for ATA degree  

Equivalencies At Other Institutions

Learning Outcomes

After completing this course, the student will be able to:

1. Explain how accounting systems can provide information and data for management decision making in manufacturing, merchandising, and service companies.
2. Solve business problems from a management point of view using both quantitative analysis and qualitative analysis.
3. Analyze and interpret managerial accounting reports that provide both objective measures of past operations and future estimates using master budgets, flexible budgets, and standard costs.
4. Describe various cost management systems, e.g. activity based, just-in-time and quality management systems.
5. Apply and interpret basic financial statements including cash flow activities.
6. Describe and illustrate an income analysis using various costing assumptions, including variable costing, absorption costing and cost-volume-profit analysis.
7. Apply and analyze basic product costing methods such as job order costing and process costing.
8. Explain responsibility accounting and performance evaluation practices.

General Education Learning Values & Outcomes

Revised August 2008 and affects outlines for 2008 year 1 and later.

0. Application and Integration

Definition: Applying information from one or more disciplines and/or field experiences in new contexts (Outcome 0.1); developing integrated approaches or responses to personal, academic, professional, and social issues (Outcomes 0.2-0.5).

Outcomes: Students will be able to . . .
0.3 Identify and evaluate the relationships among different perspectives within a field of study and among different fields of study.
0.4 Integrate concepts and analytical frameworks from multiple perspectives to develop one or more of the following: more comprehensive descriptions, multi-causal explanations, new interpretations, or deeper explorations of issues.

1. Information Literacy

Definition: Recognizing when information is needed and have the ability to locate, evaluate, and use effectively the needed information.

Outcomes: Students will be able to . . .
1.1 Determine the extent of information needed.
1.3 Evaluate information and its sources critically.

2. Critical Thinking

Definition: The ability to think critically about the nature of knowledge within a discipline and about the ways in which that knowledge is constructed and validated and to be sensitive to the ways these processes often vary among disciplines.

Outcomes: Students will be able to . . .
2.4 Evaluate decisions by analyzing outcomes and the impact of actions.
2.9 Apply and/or create problem-solving strategies to successfully adapt to unpredictable and/or changing environments.

3. Communication

Definition: Understanding and producing effective written, spoken, visual, and non-verbal communication.

Outcomes: Students will be able to . . .
3.1 Recognize, read, and comprehend academic and/or professional writing.

5. Global & Local Awareness & Responsibility

Definition: Understanding the complexity and interdependence of, and stewardship responsibilities to, local and global communities and environments.

Outcomes: Students will be able to . . .
5.1 Understand the impact of their own and other’s actions on local/global communities and environments and how those communities/environments affect them in turn.

6. Individual Awareness & Responsibility

Definition: Understanding, managing, and taking responsibility for one’s learning and behavior in varied and changing environments.

Outcomes: Students will be able to . . .
6.1 Identify ethical and healthy choices and apply these personally, socially, academically, and professionally.
6.2 Demonstrate standards of professionalism in manner, appearance, and setting appropriate to the context, including the classroom, workplace, and community.

8. Mathematical Reasoning

Definition: Understanding and applying concepts of mathematics and logical reasoning in a variety of contexts, both academic and non-academic.

Outcomes: Students will be able to . . .
8.3 Interpret information and reasoning expressed mathematically (for example in spreadsheets, diagrams, charts, formulas, etc.).

10. Technology

Definition: Understanding the role of technology in society and using technology appropriately and effectively.

Outcomes: Students will be able to . . .
10.3 Use technology appropriate to the context and task to effectively retrieve and manage information, solve problems, and facilitate communication.

Course Contents

1. How accounting systems can provide information and data for management decision making in manufacturing, merchandising, and service companies.
2. Business problems from a management point of view using both quantitative analysis and qualitative analysis.
3. Managerial accounting reports that provide both objective measures of past operations and future estimates using master budgets, flexible budgets, and standard costs.
4. Various cost management systems, e.g. activity based, just-in-time and quality management systems.
5. Basic financial statements including cash flow activities.
6. Income analysis using various costing assumptions, including variable costing, absorption costing and cost-volume-profit analysis.
7. Basic product costing methods such as job order costing and process costing.
8. Responsibility accounting and performance evaluation practices.