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:
MGMT 1126 - Financial Management
There are no prerequisites for this course.
9. Co-requisite Courses:
MGMT 1126 - Financial Management
There are no corequisites for this course.
II. Transfer and Articulation
1. Course Equivalency - similar course from other regional institutions:
|
Name of Institution
|
Course Number and Title
|
Credits
|
|
Anoka-Ramsey Community College
|
BUS 1134 Computerized Accounting
|
2
|
|
Hennepin Technical College
|
ACCT 1130 Computerized Accounting
|
3
|
|
St. Cloud Technical & Community College
|
ACCT 1218 Computerized Accounting
|
3
|
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 is required for the following program(s):
|
Name of Program(s)
|
Program Type
|
|
Business Management
|
AAS
|
IV. Learning Outcomes
1. College-Wide Outcomes
| College-Wide Outcomes/Competencies |
Students will be able to: |
| 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:
|
Expected Outcome
|
MnTC
Goal Area
|
|
Complete financial management simulations for a service business
|
|
|
Complete financial management simulations for a merchandise business
|
|
|
Complete financial management simulations using Peachtree accounting software
|
|
|
Complete financial management simulations using QuickBooks Pro 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
5. Merchandise Business Monthly Simulation
- Sales Journal
- Sales Tax
- Financial Statements
6. Computerize Merchandise Business Simulation
7. Service & Merchandise Business Year End Simulation
- a.Financial Statements
- Financial Statement Ratio Analysis
8. Computerize Service & Merchandise Business Simulation
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