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ACCT 20 Financial Accounting 20

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  • Top Course Tags

    A Few Big Assignments

    Go to Office Hours

    Great Intro to the Subject

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    • Profile picture
    Jun 19, 2017
    | Would recommend.

    This class was tough.

    Course Overview:

    I would recommend ACCT020 because the instructor assigns two comprehensive assignments which mimic real world accounting practices. The students are instructed to compose financial statements reflecting the degree of accuracy and detail required in the industry. It was a thorough and engaging introduction to accounting, coming from a person who has had no prior experience in the subject. I would recommend this class to anyone starting college because it is elementary enough to provide students with skills in budgeting. For example, to determine whether you are making enough money, one has to identify all expenses and do simple math to assure that expense is not outweighing income. This is useful for anyone who needs money to survive, whether you are budgeting your personal life or a business. This is why I think this class is valuable to everyone, whether you pursue a career in accounting or not. I would not recommend this course to be taken online unless taken online with a tutor at disposal, because composing financial statements can be tedious and so it is easy to generate a lot of questions for the instructor which, gone unanswered, creates a slightly overwhelming feel to the work load.

    Course highlights:

    I learned how to compute many important totals that I did not know existed before I took the class. I am now able to compute net income, expenses, cost of goods sold, income tax expenses, amortizations, bonds payable, market values, inventory turnover rates, and so much more. I learned how tedious the accounting process is to undertake because it involves organizing numbers which are often in the millions and billions of dollars. Once organized correctly, you must perform calculations and generate exact totals. Therefore, if you miss just one zero in a calculation, everything is then considered incorrect. This is the double edged sword of this class, I believe. There is only one right answer and one wrong answer when dealing with financials, so it is either very rewarding or very frustrating. This productive pressure I consider to be a highlight, and I learned a thorough introduction to the field of accounting.

    Hours per week:

    6-8 hours

    Advice for students:

    I recommend not falling behind, as each week truly builds on the next. For example, if you do not learn how to properly compute net income the first week, you will not be able to compute retained earnings the following week, and so on. If left unchecked, you could be facing an overwhelming amount of work come the end of the semester. I also recommend hiring a tutor or utilizing your instructor's office hours. I had a lot of trouble with the new concepts the first two weeks of this course, and a tutor came in and simplified everything with me, and I found myself enjoying the work instead of avoiding the class.

    • Spring 2017
    • Jason Wolowitz
    • Yes
    • Great Intro to the Subject Go to Office Hours A Few Big Assignments

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