General Course Information for ACC201: Financial Accounting Funds

Course: ACC201 - Financial Accounting Funds
Textbook: For the correct edition of the textbook assigned to a specific class, go to:

Course Description:

A survey of basic accounting theory and the application of accounting principles, this course includes the recording and summarization of business transactions in the form of financial statements under the rules of generally accepted accounting principles. (GAAP). It is designed for students who have little or no prior knowledge of financial accounting, this course corresponds to Principles of Accounting I at other colleges.

Course Learning Outcomes:
  • Describe and explain the purpose of each of the three principal financial statements: balance sheet, income statement and statement of cash flows.
  • Analyze and record common types of transactions (sales, cash receipts, purchases, cash disbursements, and the like)and complete all the steps in the accounting cycle.
  • Differentiate between accrual and cash bases accounting, discuss the purpose of adjusting journal entries, and prepare appropriate adjusting journal entries for common types of accruals and deferrals.
  • Apply the principles of internal control for cash.
  • Differentiate between direct write off and allowance method of accounting for bad debts and prepare appropriate adjusting entries required under each method.
  • Compare perpetual and periodic methods of accounting for inventory and apply alternative methods of costing inventory - FIFO, LIFO, and weighted average including the effects of each method on the financial statements.
  • Determine the cost of plant assets, explain 'depreciation' in the context of accounting and apply commonly used depreciation methods, including straight line, declining balance, and output or activity method.
  • Differentiate between short-term and long-term liabilities and properly classify various types of liabilities on the balance sheet.
  • Explain the nature of and prepare appropriate journal entries for the issuance of stocks, declaration and payments/issuance of cash dividends/stock dividends, and treasury stock transactions.
  • Analyze and interpret financial statements for decision making utilizing ratios and other techniques to determine the solvency, profitability, and stability of a business enterprise.

Students with Disabilities:
Students seeking special accommodations due to a disability must submit an application with supporting documentation, as explained under this subject heading in the General Catalog. Instructors are required to provide such accommodations if they receive written notification from the University.

Writing Across the Curriculum:
Students are expected to demonstrate writing skills in describing, analyzing and evaluating ideas and experiences. Written reports and research papers must follow specific standards regarding citations of an author's work within the text and references at the end of the paper. Students are encouraged to use the services of the University's Writing Center when preparing materials.

The following website provides information on APA, MLA, and other writing and citation styles that may be required for term papers and the like:

National University Library:
National University Library supports academic rigor and student academic success by providing access to scholarly books and journals both electronically and in hard copy. Print materials may be accessed at the Library in San Diego or through document delivery for online and regional students. Librarians are available to provide training, reference assistance, and mentoring at the San Diego Library and virtually for online or regional students. Please take advantage of Library resources:


Contact the Library:

  • (858) 541-7900 (direct line)
  • 1-866-NU ACCESS x7900 (toll free)

Use the Library Training Tools (on the Library Homepage) for additional help

  • Recorded class presentations
  • Tutorials & Guides (APA/MLA, Peer-Review, and more)

Plagiarism is the presentation of someone else's ideas or work as one's own. Students must give credit for any information that is not either the result of original research or common knowledge. If a student borrows ideas or information from another author, he/she must acknowledge the author in the body of the text and on the reference page. Students found plagiarizing are subject to the penalties outlined in the Policies and Procedures section of the University Catalog, which may include a failing grade for the work in question or for the entire course. The following is one of many websites that provide helpful information concerning plagiarism for both students and faculty:

Ethical behavior in the classroom is required of every student. The course will identify ethical policies and practices relevant to course topics.

Students are expected to be competent in using current technology appropriate for this discipline. Such technology may include word processing, spreadsheet, and presentation software. Use of the internet and e-mail may also be required.

Learning to work with and value diversity is essential in every class. Students are expected to exhibit an appreciation for multinational and gender diversity in the classroom.

As a diverse community of learners, students must strive to work together in a setting of civility, tolerance, and respect for each other and for the instructor. Rules of classroom behavior (which apply to online as well as onsite courses) include but are not limited to the following:

  • Conflicting opinions among members of a class are to be respected and responded to in a professional manner.
  • Side conversations or other distracting behaviors are not to be engaged in during lectures, class discussions or presentations
  • There are to be no offensive comments, language, or gestures