ACT 205 - Fundamentals of Accounting

  • 3 credits

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. Credit not allowed for both ACT 205 and ACT 210.

Textbooks and Materials

Required

  • Survey of Accounting, 2nd Ed.
    Paul D. Kimmel, Jerry J. Weygandt
    Not available at the CSU Bookstore

Course materials are obtained through CSU’s Inclusive Access Program, which is REQUIRED for this class. Materials will be available the Friday before classes start, and include online homework, quizzes and access to the eBook.

Instructors

Falene Young

(970) 491-5610 | falene.young@colostate.edu

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