MA 1220 - Financial Principles + Practices

Credits: 3

This freshman-level math course introduces students to the nature and purpose of financial principles. The goal is for students to develop mathematical skills in financial accounting and gain basic knowledge of the principles and practices needed to understand the contemporary business world. Through lecture presentations, demonstrations, practice exercises, case studies, and quizzes, students will demonstrate basic financial concepts and financial statement creation and analysis.

Prerequisites: none

Course Learning Outcomes:

Understands Generally Accepted Accounting Principles (GAAP) to identify the difference between assets, liabilities and net worth, along with analyzing, recording and reporting financial information for service organizations using Microsoft Excel.
Understands the chart of accounts in day-to-day transactions to record general journal transactions, post to the general ledger and create a trial balance.
Understands accounting worksheets (incorporating adjustments) based on the company trial balance.
Understands the difference between an income statement, statement of owner’s equity, and balance sheet.
Understands an income statement, statement of owner’s equity and balance sheet from an adjusted trial balance or worksheet.
Understands company closing entries to the general journal and general ledger, culminating with a post-closing trial balance.

MA 1220 Course Learning Outcome Rubric

Required Textbooks:
Accounting Principles, 12th Edition., Weygant, Kimmel, Kieso - ISBN: 9781118875056