Accounting (Minor)

Depth of Knowledge: Program Student Learning Outcomes

LWC Accounting (Minor) graduates will be able to:

1.1: Compose Financial Statements

The student will be able to compose a complete set of financial statements consisting of an Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows in order to demonstrate an understanding of financial accounting definitions, classifications and concepts

2.1: Complete Basic Components of a Master Budget

The student will be able to complete a Master Budget consisting of a Budgeted Income Statement (with supporting operating budgets) and a Cash Budget (with supporting collection/payment schedules) in order to demonstrate an understanding of managerial accounting cost system

3.1: Evaluate a Business Entity's Basic Financial Performance

The student will be able to evaluate a business entity's basic financial performance and financial position through analysis of it financial reporting

Assessment of Accounting Outcomes

These outcomes will be assessed using a variety of assessment methods including:

• exams
• projects
• written papers
• case studies