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Catalog Description Formerly known as BUS 1 Hours: 72 lecture Description: Principles of accounting and recording transactions within the accounting cycle. Students analyze financial statements, compare and contrast different forms of business entities, and discuss internal controls for entities to reduce the risk of fraud. Topics also include the preparation of a bank reconciliation, petty cash transactions, inventories, and cost of goods sold, accounts receivable and how to account for bad debts and depreciation of assets. Study of current and long-term liabilities and how to account for them, including accounts payable, payroll taxes, mortgages, and bonds. Covers the concept of equity including stocks and dividends. Financial ratio analysis tools also help students quickly assess the overall financial health of a business. (C-ID ACCT 110) (CSU, UC) Course Student Learning Outcomes CSLO #1: Evaluate the use of Generally Accepted Accounting Principles (GAAP) in a variety of business transactions. CSLO #2: Apply the accounting cycle in a corporate setting. CSLO #3: Determine the specific accounting treatment for cash and inventory valuation. CSLO #4: Identify internal controls used in the protection of assets. CSLO #5: Analyze the transactions of accounts receivable and long term assets. CSLO #6: Distinguish the financing options of the corporate form of business. CSLO #7: Synthesize overall knowledge of accounting through a comprehensive financial statement analysis. Effective Term Fall 2026 Course Type Credit - Degree-applicable Contact Hours 72 Outside of Class Hours 144 Total Student Learning Hours 216 Course Objectives Through written activities and computations, the student will: 1. Explain the nature and purpose of generally accepted accounting principles (GAAP) and International Financial Reporting Standards (IFRS). 2. Explain and apply the components of the conceptual framework for financial accounting and reporting, including the qualitative characteristics of accounting information, the assumptions underlying accounting, the basic principles of financial accounting, and the constraints and limitations on accounting information; 3. Define and use accounting and business terminology; 4. Explain what a system is and how an accounting system is designed to satisfy the needs of specific businesses and users; 5. Summarize the purpose of journals and ledgers; 6. Apply transaction analysis, input transactions into the accounting system, process this input, and prepare and interpret the four basic financial statements; 7. Distinguish between cash basis and accrual basis accounting and their impact on the financial statements, including the revenue recognition and matching principles; 8. Identify and illustrate how the principles of internal control are used to manage and control the firm’s resources and minimize risk; 9. Explain the content, form, and purpose of the basic financial statements (including footnotes) and the annual report, and how they satisfy the information needs of investors, creditors, and other users; 10. Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them. 11. Explain the nature of current assets and related issues, including the measurement and reporting of cash and cash equivalents, receivables and bad debts, and inventory and cost of goods sold; 12. Explain the valuation and reporting of current liabilities, estimated liabilities, and other contingencies; 13. Identify and illustrate issues relating to long-term asset acquisition, use, cost allocation, and disposal; 14. Distinguish between capital and revenue expenditures; 15. Identify and illustrate issues relating to long-term liabilities, including issuance, valuation, and retirement of debt;(including the time value of money) 16. Identify and illustrate issues relating to stockholders’ equity, including issuance, repurchase of capital stock, and dividends; 17. Explain the importance of operating, investing and financing activities reported in the Statement of Cash Flows; 18. Interpret company activity, profitability, liquidity and solvency through selection and application of appropriate financial analysis tools; and 19. Identify the ethical implications inherent in financial reporting and be able to apply strategies for addressing them. General Education Information Approved College Associate Degree GE Applicability CSU GE Applicability (Recommended-requires CSU approval) Cal-GETC Applicability (Recommended - Requires External Approval) IGETC Applicability (Recommended-requires CSU/UC approval) Articulation Information CSU Transferable UC Transferable Methods of Evaluation Classroom Discussions Example: Find a news article about a corporate fraud or company embezzlement and come prepared to discuss your article with the class. Students will present their article in class and the instructor will grade based on completion, relevance of the article, and how they engaged the class in discussion. Essay Examinations Example: Describe the three factors of the fraud triangle and which factor is best reduced by internal controls. The instructor will read each students' essay and provide feedback for review in class. Objective Examinations Example: Using multiple choice questions, the student will respond to topics about perpetual and periodic inventory systems. Which of the following is not true under a perpetual inventory system? a) Cost of Goods Sold is updated at the end of the period b) Companies know how much inventory they have at any given time c) The account Merchandise Inventory is used in all buyer transactions d) Two journal entries are needed to record purchases. Problem Solving Examinations Example: Using a given set of ledger balances, prepare a multi-step income statement. The instructor will grade each student's statement and provide feedback for review in class. Students will be provided an opportunity to retry work that did not meet rubric requirements. Skill Demonstrations Example: Enter a given set of transactions into the accounting records by journalizing, posting, preparing trial balances, preparing adjusting entries, preparing financial statements, and closing the books for the period. This problem will be graded by the publisher's assignment software and the student's grade will be transferred to the course management system. Repeatable No Methods of Instruction Lecture/Discussion Distance Learning Lecture: Instructor lectures on financial statements. Students are expected to actively participate in the lecture. (Objective 2) Instructor guides a group discussion of the fraud triangle and internal controls to prevent fraud. Students shall be able to identify internal control to prevent fraud. (Objective 8) Given a set of transactions, instructor monitors students' work preparing journal entries, posting to ledger, and a trial balance Instructor sets up and monitors in-class group problems, including preparation of financial statements. Distance Learning Using the publisher's software, prepare financial statements. Instructor will evaluate work online. Using the class discussion board, students discuss fraud and embezzlement cases found online. Instructor will monitor discussions and add comments where appropriate. Typical Out of Class Assignments Reading Assignments 1. Read the chapter that covers double entry accounting and be prepared to discuss how double entry accounting ensures accuracy. 2. Read the chapter that covers internal controls and the bank reconciliation. Be prepared to discuss the importance of internal controls. Writing, Problem Solving or Performance 1. Based on the exercise assigned at the end of the chapter, prepare in written form the bank reconciliation and record the resulting journal entries in the general journal provided. 2. Complete the accounting cycle from analyzing transactions through a post closing trial balance. Other (Term projects, research papers, portfolios, etc.) Required Materials Financial and Managerial Accounting: The Financial Chapters Author: Miller-Nobles Publisher: Pearson Publication Date: 2023 Text Edition: 8th Classic Textbook?: No OER Link: OER: Other materials and-or supplies required of students that contribute to the cost of the course.

Catalog Description Formerly known as BUS 3 Prerequisite: Completion of BUS 0201 with grade of "C" or better Hours: 72 lecture Description: Examination of how managers use accounting information in decision-making, planning, directing operations, and controlling operations. Focus on cost terms and concepts, cost behavior, cost structure, and cost-volume-profit analysis. Examination of profit planning, standard costs, operations, and capital budgeting, cost control, and accounting for costs in manufacturing organizations. (C-ID ACCT 120) (CSU, UC) Course Student Learning Outcomes CSLO #1: Develop a costing system using traditional costing and activity based costing and determine the effect each approach has on decision making. CSLO #2: Determine how costs behave with changes in activity and how cost behavior patterns impact decision making. CSLO #3: Calculate production cost variances and investigate possible causes of the variances. CSLO #4: Evaluate ethical cases in accounting and recommend appropriate courses of action. CSLO #5: Develop a Master Budget and investigate how to use the information in decision-making Effective Term Fall 2026 Course Type Credit - Degree-applicable Contact Hours 72 Outside of Class Hours 144 Total Student Learning Hours 216 Course Objectives Through written activities and computations, the student will: 1. Identify and illustrate the primary activities and information needs of managers and explain the role of the managerial accountant as a member of the management team; compare and contrast financial and managerial accounting; 2. Define and illustrate various cost terms, concepts, and behaviors, and evaluate their relevancy for different decision-making purposes; 3. Distinguish between product and period costs and prepare and evaluate a Schedule of Cost of Goods Manufactured, Schedule of Cost of Goods Sold, and Income Statement; 4. Prepare traditional and contribution-margin income statements and define related terms; 5. Explain cost-volume-profit analysis, degree of operating leverage, and safety margin and employ each as an analytical tool; 6. Describe the traditional types of product costing systems (including job-order and process), illustrate the flow of costs in each, and prepare related accounting records and reports; 7. Discuss the impact of technology on the business environment, its implications for product and service costs, and the development of activity-based costing and management; 8. Explain the purposes of budgeting, prepare a master budget and its component schedules, and relate the budget to planning and control; 9. Explain the development and use of standard costs and flexible budgets, prepare and interpret variance analysis reports and relate them to responsibility accounting and control; 10. Explain the nature of and need for segment reporting and the relationship with cost, revenue, profit, and investment centers; prepare and analyze related segment reports; 11. Compare and contrast absorption costing and variable costing, prepare income statements using both methods, and reconcile the resulting net incomes; 12. Define relevant costs and benefits and prepare analyses related to special decisions; 13. Explain the nature of capital expenditure decisions and apply and evaluate various methods used in making these decisions; including the time value of money and 14. Identify the ethical implications inherent in managerial accounting and reporting and be able to apply strategies for addressing them. General Education Information Approved College Associate Degree GE Applicability CSU GE Applicability (Recommended-requires CSU approval) Cal-GETC Applicability (Recommended - Requires External Approval) IGETC Applicability (Recommended-requires CSU/UC approval) Articulation Information CSU Transferable UC Transferable Methods of Evaluation Classroom Discussions Example: 1. Once students calculate the net present value and internal rate of return for a project, discuss the pros and cons for each project and what decision should be made. Students will present their decisions in class and the instructor will grade based on completion, tools used in the decision making process, and accuracy. Essay Examinations Example: 1. Describe the differences between financial and managerial accounting and who uses each. The instructor will read each students' essay and provide feedback for review in class. Objective Examinations Example: 1. Using multiple choice questions, the student will respond to topics about different production and management methods. Standard Grading. Example Question: When making a production or management decision, which of the following costs are not considered? a) relevant cost b) opportunity costs c) sunk costs d) all of the above costs would be considered. Problem Solving Examinations Example: 1. Given a list of estimated revenues and expenses, prepare all the budgets within a master budget. The instructor will grade each students' statement and provide feedback for review in class. Students will be provided an opportunity to retry work that did not meet rubric requirements. Skill Demonstrations Example: 1. Prepare a flexible budget using a given set of numbers. This problem will be graded by the publisher's assignment software and the student's grade will be transferred to the course management system. Repeatable No Methods of Instruction Lecture/Discussion Distance Learning Lecture: Instructor lectures on job costing manufacturing operations and then guides students through in-class practice. Instructor sets up and monitors in-class group projects, including evaluating relevant revenues and costs to make decisions. Prepare the journal entries to allocate overhead to different departments. Given a set of account balances, prepare a contribution format income statement. Distance Learning Using the publisher's software, calculate the net present value of two operating projects. Instructor will evaluate work online. Using the class discussion board, students discuss how to apply responsibility accounting to evaluate opportunities for improvement. Instructor will monitor discussions and add comments where appropriate. Typical Out of Class Assignments Reading Assignments 1. Read the chapter that covers activity-based costing. Be ready to discuss the pros and cons of implementing such a system. 2. Read the chapter that covers capital budgeting. Be prepared to discuss how the time value of money concept applies to budgeting for long term projects. Writing, Problem Solving or Performance 1. Based on the exercise assigned at the end of the chapter, calculate the amount of overhead to be applied and determine if the result is over applied or under applied. 2. Define the terms "break-even point" and "margin of safety." Based on the information provided in the exercise assigned at the end of the chapter, calculate the break-even point and margin of safety. Explain what each of these measures indicates for the company. Other (Term projects, research papers, portfolios, etc.) Required Materials Introduction to Managerial Accounting Author: Brewer, Garrison, and Noreen Publisher: McGraw Hill Publication Date: 2023 Text Edition: 8th Classic Textbook?: No OER Link: OER: Other materials and-or supplies required of students that contribute to the cost of the course.