AOT 3031 - Financial Functions

Clock Hours: 96

Course Description:
The student will learn accounting basics, with a general background of accounting and will progress to specific accounting principles. The student will develop skills in: the basic accounting equation, T accounts, debits and credits, the accounting cycle and journal transactions, working with the general ledger, generating financial statements, and working with adjusting and closing entries. Additionally, the student will gain experience in practicing / reviewing all skills developed through a project in working with a fictitious business.

Student Learning Outcomes:
Course Competencies:
1. Demonstrate knowledge of basic accounting principles.
2. Understand rules of debit and credit.
3. Define and recognize basic accounting forms and financial statements.
4. Demonstrate the ability to accurately enter information from source documents into automated accounting software.
5. Use automated accounting software to generate reports, charts, and tax forms.
6. Demonstrate the ability to make corrections in the accounting software.
7. Understand the terminology, rules, and regulations surrounding payroll taxes and deductions.
Approved September 2023
8. Be able to calculate gross wages for various types of paid employees.
9. Perform basic banking tasks.
10. Manage A/R and A/P in an automated accounting system.
11. Be familiar laws and regulations related to collecting business accounts.
12. Reinforce business math concepts.