I. General Information

1. Course Title:
Accounting for Non-Accountants

2. Course Prefix & Number:
BUSN 1102

3. Course Credits and Contact Hours:

Credits: 3

Lecture Hours: 3

Lab Hours: 0

Internship Hours: 0

4. Course Description:

This course is a practical introduction to accounting, the language of business, for business owners and managers.  Both the how and the why of accounting principles and practices are blended to provide a foundation for the financial management of service and merchandise businesses.  The procedural based model of instruction provides a hands-on learning experience for students.  The course is recommended for all business careers outside of the accounting field.

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:

Alexandria Technical & Community College, MKTG1513 Accounting for Business Managers, 3 credits
Northwest Technical College, ACCT1100  Principles of Bookkeeping, 3 credits
Hennepin Technical College, ACCT1000  Introduction to Accounting, 3 credits

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

III. Course Purpose

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

Business Management, AAS
Entrepreneurship, Certificate

IV. Learning Outcomes

1. College-Wide Outcomes

College-Wide Outcomes/Competencies	Students will be able to:
Demonstrate reading and listening skills	Complete five application tests
Analyze and follow a sequence of operations	Complete comprehensive problem #1
Utilize appropriate technology	Complete mastery problems on CengageNow

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

• Understand the double-entry accrual accounting system
• Analyze business transactions into debit and credit parts
• Prepare general journal entries
• Post and maintain a general ledger
• Complete a ten column worksheet
• Prepare formal financial statements
• Analyze financial statements for decision making
• Complete all end of the accounting period procedures
• Maintain payroll accounting records

V. Topical Outline

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

1. Lecture Sessions

1. Introduction to Accounting & Financial Management
• The Purpose of Accounting
• The Process of Accounting
2. Analyzing Transactions:  The Accounting Equation
• The Accounting Equation
• Analyzing Business Transactions
• Financial Statements
3. The Double- Entry Framework
• The T Account
• Debits and Credits
• Transaction Analysis
4. Journalizing and Posting Transactions
• The Chart of Accounts
• The General Journal
• The General Ledger
5. Adjusting Entries and The Work Sheet
• End-of-Period Adjustments
• Adjusting Entries
• The Work Sheet
6. Financial Statements and the Closing Process
•  The Income Statement
•  The Statement of Owner’s Equity
•  The Balance Sheet
•  Closing Entries
•  Accounting Cycle Completed
7. Payroll Accounting:  Employee Earnings and Deductions
• Employee Earnings
• Employee Deductions
• Payroll Register
8. Payroll Accounting:  Employer Taxes and Reports
• Employer Payroll Taxes
• FICA-FUTA-SUTA
• Employer Reporting  Responsibilities  
9. Accounting for Sales and Cash Receipts
• Merchandise Sales Transactions
• Journalizing and Posting Transactions
• Schedule of Accounts Receivable
10. Accounting for Purchases and Cash Payments
• Merchandise Purchases Transactions
• Journalizing and Posting
• Schedule of Accounts Payable
11. Special Journals
• Sales Journal
• Cash Receipts Journal
• Purchases Journal
• Cash Payments Journal    
12. Adjustments & the Work Sheet for Merchandise Business
• Adjustments for Merchandise Inventory
• Adjustments for Unearned Revenue
• The Work Sheet    
13. Financial Statements & Year-End Accounting for Merchandise Business
• The Income Statement
• Statement of Owner’s Equity
• The Balance Sheet 
• Closing Entries
• Accounting Cycle Completed