Course Number: AC270
Course Title: Accounting Internship

STUDENT LEARNING OUTCOMES

General

To further build on the understanding of accounting principles and apply the knowledge so obtained to everyday business transactions (accounting practices).  This will include accounting for long-term liabilities and investments; preparation of the cash flow statement; financial statement (ratio) analysis and interpretation; accounting for departments and branches; and a 96-hour internship program.

Specific

Students will be able to:

1. Define and describe the characteristics of bonds payable, calculate bond interest and premiums or discounts, account for retirement
    of bonds, and prepare journal entries for a bond sinking fund.  Record bond and stock investments.
2. Determine cash flow from operating, investing and financing activities and prepare a statement of cash flows using the direct
    method.
3. Analyze financial statements using horizontal, vertical, and ratio analysis;  evaluate profitability and liquidity of the business.
4 . Determine gross profit on sales by departments; prepare general journal entries for branch operations and a combined worksheet
    and financial statements.
5. Apply accounting principles in real-life business situations; identify and experience professional behavior in the workplace.