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    Mar 28, 2024  
2017-18 RACC Student Catalog 
    
2017-18 RACC Student Catalog [ARCHIVED CATALOG]

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ACC 100 - Personal Finance


3 Credit Hours

This course is an introduction to the basics of personal financial planning including budgeting, consumer awareness, home buying and selling, insurance, lending and borrowing, various types of investments, estate planning, and income tax strategies. This course is designed to help students make better use of the financial resources they have as well as to plan for a more successful future.

Prerequisite(s): COM 061  or ESL 060  

Semesters Offered: Spring

RATIONALE OF COURSE

This course was created for students at the post-secondary level who may feel the need for aid in understanding the complex world of personal finance and who may wish to develop additional resources for making the decisions that are continually being made necessary by the great changes affecting taxes, credit, consumer laws, and investment opportunities.

COURSE COMPETENCIES

  1. Plan and budget effectively within income limitations.
  2. Recognize the need to adapt financial planning to changing personal and family need.
  3. Recognize how personal activities affect income tax liability and develop plans to minimize that liability.
  4. Analyze the comparative merits of buying and renting a home; tax implications, buying selling, and leasing fundamentals.
  5. Evaluate the various types of credit, understand its cost, and know how to utilize it to best advantage.
  6. Discuss the various types of life, health, property, and income insurance plans, and relate this information to personal needs before purchase.
  7. Analyze the advantages and disadvantages of various investment options in light of personal needs, resources, and goals.
  8. Assess various options and begin planning for retirement.



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