Gwynedd Mercy University
AY2020-2021 / Undergraduate Academic Catalog
COURSE DESCRIPTIONS
Accounting
ACC-105 Principles of Accounting I ( 3 ) An introduction to basic principles of financial accounting , the effects of business transactions , and the effect on the financial statements . Learn how to prepare basic financial statements and to engage in decision making essentials in our economic system through analysis of receivables and inventories .
ACC-106 Principles of Accounting II ( 3 ) An expansion of basic principles learned involving a deeper coverage of the complexities in the areas of accounting for depreciation , liabilities , and payroll taxes . Analysis of a corporation ' s shareholder ' s equity ( bonds ) and financial statements is stressed . Prerequisites : ACC-106 with a minimum grade of C ( Required , Previous ).
ACC-205 Intermediate Accounting I ( 3 ) This course provides a study of generally accepted accounting principles and introducing international financial reporting standards , as they relate to financial reporting . The conceptual framework is established and accounting theory developed as the foundation for accounting principles , constraints and qualitative characteristics . Problems relating to income determination , classification and form and content of financial statements are stressed . Prerequisites : ACC-106 ; minimum grade C ( Required , Previous ).
ACC-206 Intermediate Accounting II ( 3 ) An expansion of the comprehensive study of generally accepted accounting principles and introducing the student of international financial reporting standards . Asset valuation , liability classification , analysis of stockholder ' s equity and more complex principles related to income determination in various business situations are discussed . Prerequisites : ACC-205 ; minimum grade C ( Required , Previous ).
ACC-207 Intermediate Acc III ( 3 ) An in-depth study of GAAP ( Generally Accepted Accounting Principles ) and IFRS ( International Fin Reporting Standards ) reporting issues dealing with earnings per share calculations , investments , derivatives , post-retirement accounting for benefits and pensions , lease accounting , revenue recognition , in-depth analysis of cash flow statements , and full disclosure . Prerequisites : ACC-206 ( Required , Previous ).
ACC-301 Managerial Accounting ( 3 ) The study of accounting as an aid for management decision-making . Cost behavior , budget planning and control , and performance measurement are among the topics , which will be discussed . Prerequisites : Main Campus students take : ACC-106 , ( Required , Previous ). | Graduate and Professional Studies students take : ACC-302 ( Required , Previous ).
ACC-302 Financial Accounting ( 3 ) This course is an in-depth study of the role that financial accounting data plays in the decision- making process of managers of both for-profit and nonprofit organizations . Topics include examination of financial statements and financial statement analysis .
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