Jun 16, 2019  
Middlesex Community College Academic Catalog 2018-19 
Middlesex Community College Academic Catalog 2018-19

BUS 221 - Financial Accounting


Course Description: Financial Accounting is the study of the analysis, interpretation, and use of accounting information by external decision-makers. Topics include the preparation of financial statements, business accounting cycle, cash vs. accrual basis accounting, and GAAP. Computer applications are integrated through the course.   
Prerequisite(s): Eligible for ENG 099; eligible for MAT 080, Math Module 70 or 80; and completion of CAP 101.
Note(s): A combination of Accounting I and Accounting II is similar in content to Financial Accounting. Students will not receive credit for Accounting I, Accounting II, and Financial Accounting.

Course Student Learning Outcomes:
  •  Record transactions based on the U.S. Generally Accepted Accounting Principles (GAAP)
  •  Identify the various stages of the accounting cycle 
  •  Interpret the legal, ethical, and social issues involving the firm’s accounting system in terms of fraud, internal control, and cash
  •  Prepare and analyze the income statement, retained earnings statement, classified balance sheet and statement of cash flow
  •  Analyze a corporation’s annual financial report
  •  Evaluate a company’s performance using financial ratios and analysis techniques 

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