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Description:
Study of accounting as an information system, examining why it is important and how it is used by investors, creditors, and others to make decisions. The course covers the accounting information system, including recording and reporting of business transactions with a focus on the accounting cycle, ethics in accounting, the application of generally accepted accounting principles, international financial reporting standards, the financial statements, and financial statement analysis. Includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics. Financial Accounting is covered over a 2-course sequence: ACTG 1A or ACTG 1AH and ACTG 1B or ACTG 1BH.
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Prerequisite:
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Corequisite:
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Advisory:
Advisory: Elementary Algebra or equivalent; demonstrated proficiency in English by placement via multiple measures OR through an equivalent placement process OR completion of ESLL 125 & ESLL 249; not open to students with credit in ACTG 1AH.
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Repeatability:
Not Repeatable.
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Hours:
5 hours lecture per week. 60 hours total per quarter.
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Foothill GE Area:
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Transferability:
Both
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Transfer GE:
Information regarding how this course is applied toward CSU GE/Breadth or IGETC certification is available at:
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Foothill Transfer GE Guide
Department Note:
For information about the Accounting program, courses and certificates offered, the CPA exam and more, contact one of the department co-chairs: Professor Sara Seyedin at 650. 949.7483 (email: seyedinsara@foothill.edu) or Professor Lisa Drake at 650.949.7569 (email: drakelisa@foothill.edu). Please also visit the Accounting department's website at www.foothill.edu/accounting.
For information on how to clear a prerequisite please go to: https://foothill.edu/reg/prereqs.html
