Business and Economics
Accounting 201 - Principles of Accounting
Accounting 201 is the first semester of a one-year accounting sequence. The objectives of the course are to understand accounting terms, to discover the fundamental process of accounting and to analyze and interpret financial statements. Students learn the principles which govern business transactions, and how this information provides a basis for decisions and control of business activity.
Three hours per week; three semester-hours credit.
Accounting 202 - Managerial Accounting
Prerequisite: Accounting 201.
The second semester accounting course provides in-depth study on formation of companies, partnerships and corporations, and the use of control accounting. Covered in detail are department and branch accounting, overhead and process and standard costs, which allow proper control accounting by management.
Three hours per week; three semester-hours credit.
Business 201 - Principles of Management
Prerequisite: EC1O1/EC1O2 (or permission of the instructor).
This course uses the knowledge gained in introductory courses to identify and solve real-life case problems. Students are exposed to all the tasks a manager faces in a typical business situation by focusing on the principle management functions of planning, organizing, leading or directing, and controlling. Class activity involves data collection and report writing that will help the student identify the leadership skills necessary to be a good manager.
Three hours per week; three semester-hours credit.
Business 204 - Business Law
This course is designed to familiarize the student with those facets of law that pertain to the operation of business. Topics range from an introduction to ethics, to the types of laws and how they are created and applied. Emphasis is placed on the legal environment and the social and political influences that govern lawmaking. In addition, the students acquire a basic knowledge of administrative and legal procedures.
Three hours per week; three semester-hours credit.
Business 205 - International Business
The globalization of business is bringing both new prosperity and new challenges to business leaders across the globe. In recognition of the changing face of business, VFMC offers an introductory course in international issues of culture, language, law, ethics and business practices. As a class project, students will produce a nation study, and draw conclusions as to investment in a foreign country.
Three hours per week; three semester-hours credit.
Economics 101 - Macroeconomics
Co-requisite: Math 100.
This economics course presents economic vocabulary and basic economic concepts. The issues of scarcity, production, and distribution are studied in depth. The role of consumers, the government and firms in a free enterprise system, factors affecting the supply and demand of goods, and the economic experience of America are discussed.
Three hours per week; three semester-hours credit.
Economics 102 - Microeconomics
Co-requisite: Math 100.
This course examines the economic definitions, principles, and theories of microeconomics. Covered are scarcity and production, the elements of supply and demand, the public sector, and principles of rational behavior. Also included is the study of consumer choice and demand, business organizations, cost and producer choice, and cost analysis. Students are tested on their knowledge of graphing and the use of economic tools.
Three hours per week; three semester-hours credit.