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ACT 205 - Fundamentals of Accounting

  • 3 credits
View available sections

The course is designed to provide the student with a basic understanding of the role of financial and managerial accounting information in business. It will focus on economic events that occur throughout the business cycle and how to account for them in the financial records of a business. This course will also give students a better understanding of the financial information used by investors and business managers to make informed business decisions.

Upon mastering the material in this course, you should be able to:
1. Define basic accounting terms and concepts.
2. Identify how the economic events of a business are reflected in financial statements.
3. Prepare and interpret financial statements using analytical tools.
4. Identify and present information used for organizational decision-making.
5. Apply analytical and critical thinking skills necessary for managerial decision-making.
6. Demonstrate knowledge of ethical issues in the context of financial and managerial accounting.

Prerequisite

For nonbusiness majors.

Instructors

Falene Young

9704915610 | falene.young@colostate.edu