I. General Information

1. Course Title:
Financial Management

2. Course Prefix & Number:
MGMT 1126

3. Course Credits and Contact Hours:

Credits: 3

Lecture Hours: 3

Lab Hours: 0

Internship Hours: 0

4. Course Description:

This course is the entrepreneur’s real world hands-on application of accounting fundamentals simulating the financial management of small service and merchandise businesses.  Peachtree and QuickBooks Pro accounting software will be used. While not required, it is recommended that you complete BUSN 1102 before enrolling in this course.

5. Placement Tests Required:

6. Prerequisite Courses:

There are no prerequisites for this course.

9. Co-requisite Courses:

There are no corequisites for this course.

II. Transfer and Articulation

1. Course Equivalency - similar course from other regional institutions:

Anoka Ramsey Community College, BUS 1134 Computerized Accounting, 2 credits
Hennepin Technical College, ACCT 1130 Computerized Accounting, 3 credits
St. Cloud Technical & Community College, ACCT 1218 Computerized Accounting, 3 credits

3. Prior Learning - the following prior learning methods are acceptable for this course:

• Written
• Oral
• Demonstration
• Portfolio

III. Course Purpose

1. Program-Applicable Courses – This course fulfills a requirement for the following program(s):

Business Management, AAS Degree

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Demonstrate reading and listening skills	Complete Accounting Simulations Audit Tests
Analyze and follow a sequence of operations	Complete Financial Management Simulations
Utilize appropriate technology	Use Peachtree & QuickBooks Pro Accounting Software

2. Course Specific Outcomes - Students will be able to achieve the following measurable goals upon completion of the course:

• Understand the double-entry cash and accrual accounting systems
• Complete month end accounting simulations for the service business
• Complete year end accounting simulations for the service business
• Prepare year end financial projections for the service business
• Complete month end accounting simulations for the merchandise business
• Complete year end accounting simulations for the merchandise business
• Prepare year end financial projections for the merchandise business
• Utilize Peachtree computerized accounting software
• Utilize QuickBooks Pro computerized accounting software

V. Topical Outline

Listed below are major areas of content typically covered in this course.

1. Lecture Sessions

1. The Accounting Cycle Review
• Academic Accounting
• Financial Management
• Real World Application    
2. Service Business Monthly Simulation
• Check Register Journal
• Account Ledger
• Financial Statements
3. Service Business Year End Projections
• Projected Monthly Cash Flow Worksheet
• Projected Year End Financial Statements
• How could the business be doing?
4. Computerize Service Business Simulation
• Peachtree
• QuickBooks Pro
5. Merchandise Business Monthly Simulation
• Sales Journal
• Sales Tax
• Financial Statements
6. Computerize Merchandise Business Simulation
• Peachtree
• QuickBooks Pro
7. Service & Merchandise Business Year End Simulation
• a.Financial Statements
• Financial Statement Ratio Analysis
8. Computerize Service & Merchandise Business Simulation
• Peachtree
• QuickBooks Pro
9. Service & Merchandise Business Year End Projections
• Projected Year End Financial Statements
• How could the business be doing?
• Horizontal Analysis
10. Financial Planning Projections
• Projected Year End Financial Statements
• Audit Test Final