ACCT 1120 - Accounting III

4.5 Credits

Students learn the fundamental principles of accounting in this course, the third of three accounting courses covering principles of accounting. Students explore financial topics through real-world illustrations reflecting current business practices. Topics include an introduction to managerial accounting, job order costing, activity-based costing, cost-volume-profit analysis, budgeting, and investment analysis.

Note: Students should attempt to take ACCT 1100, ACCT 1110, and ACCT 1120 immediately after one another to facilitate understanding and learning. It is helpful to complete the math requirements early in the program of study.

Prerequisites: (1) ACCT 1110 with a grade of C or better

Lecture Hours: 4.5
Lab Hours: 0.0
Internship Hours: 0.0
Clinical or Practicum Hours: 0.0

Course Objectives

Distinguish managerial accounting from financial accounting.
Apply job order costing to evaluate and project business performance.
Define and apply activity-based costing to evaluate and project business performance.
Describe cost-volume-profit classifications and relationships; apply breakeven in analyzing business decisions using CVP.
Describe the budgeting process, identifying and preparing components of the master budget, flexible budgets, and responsibility accounting reports.
Demonstrate the use of investment analysis models for short and long-term business decisions.
Explain ethics and why they are important to accounting.

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