Program Review Business Administration Dr. Richard Harvey, Dean Dr. Jack Kirby, Associate Dean May 2009

The students should be able to explain accrual accounting and the underlying principles which cause adjusting entries to be made.

The students should be able to identify the basic principles of accounting information systems.

The students should be able to identify the principles of internal control and explain and demonstrate their application to cash receipts and disbursements.

The students should be able to explain the underlying concepts of recording receivables and prepare journal entries to record their acquisition, initial and interim valuation, and disposition.

The students should be able to explain the effect of both periodic and perpetual inventory accounting on sales, gross profit, and net income including their presentation in the income statement.

The students should be able to explain the underlying concepts of inventory valuation describe the inventory cost flow assumptions and demonstrate the effect of each method of cost flow on the financial statements and on income taxes.

Upon successful completion of this course, students will be able to:

Student should be able to record the acquisition, valuation, and disposition of plant assets, natural resources and intangible assets.