ACC111 Principles of Financial Accounting – Administrative
Outline FALL 2008
Mercer County Community College
Study of the accounting cycle and how accounting data impacts business decisions. Emphasis on
understanding the "why" of accounting as well as the "how".
MAT034 or equivalent proficiency
The student will be able to:
A. Define the basic principles and concepts as they relate to practical accounting problems.
B. Demonstrate an understanding of the concepts of accrual accounting.
C. Discuss and identify the three types of business activities and how to account for each.
D. Explain how accounting can be used as a tool to assist in making business decisions.
E. Analyze a business transaction into its debit and credit elements.
F. Complete the accounting cycle: journalize entries, post to general ledger, adjust accounts,
and prepare financial statements.
G. Interpret various accounting data and appropriately apply basic principles of accounting to
H. After analyzing case study situations, recommend to management a possible accounting
General Education Knowledge Goals:
Goal 1: Communication. Students will communicate effectively in both speech and writing.
Goal 2: Mathematics: Students will use appropriate mathematical and statistical concepts and
operations to interpret data and to solve problems.
Goal 9: Ethical Reasoning and Action. Students will understand ethical issues and situations.
MCCC Core Skills:
Goal A: Written and Oral Communication in English: Students will communicate effectively in
speech and writing, and demonstrate proficiency in reading.
Goal B: Critical Thinking and Problem-solving. Students will use critical thinking and problem
solving skills in analyzing information.
Goal C: Ethical Decision-Making: Students will recognize, analyze and assess ethical issues and
Goal F: Colla