Mission Statement
The Business and Economics Division of Allegany College of Maryland is committed to
providing quality educational opportunities for our students. In response to the
dynamic nature of the field, our diverse faculty is dedicated to integrating the latest
theories with applications and technological skills. We offer a variety of programs
that are designed to enhance our students’ personal and professional growth.
Graduates from ACM's Business and Economics Division will be prepared for the world of business and/or transfer to four-year colleges with their acquired analytical and creative thinking skills, communications skills, problem-solving skills, applied technical skills and competencies, quantitative skills, and business knowledge commensurate with industry needs.
Demonstrate the interpersonal, teamwork/collaborative, and leadership skills necessary to make decisions.
Select and apply the tools of technology as they relate to the functional areas of business.
Communicate effectively in writing as professional businesspeople.
Communicate effectively orally as professional businesspeople.
Understand the different functional areas of business and their interrelationships.
Utilize analytical tools and data to think creatively and make reasoned decisions about accounting/business/economic issues.
Be prepared for an ethically and socially responsible role in business.
Graduates from ACM's Arts and Sciences, Accounting Transfer Pattern A.S. Program will be prepared for transfer to four-year colleges with their acquired analytical and creative thinking skills, communications skills, problem-solving skills, applied technical skills and competencies, quantitative skills, and accounting and business knowledge commensurate with industry needs.
Graduates will:
Apply Generally Accepted Accounting Principles (GAAP) to the recording and reporting of business transactions.
Perform the steps of the accounting cycle, including preparing financial statements in accordance with GAAP.
Create reports and use financial information to perform managerial decision making and problem solving.
Develop cost and other managerial accounting information and use it to make decisions for internal company purposes.
Graduates from ACM's Business Administration A.S. Program will be prepared for transfer to four-year colleges with their acquired analytical and creative thinking skills, communications skills, problem-solving skills, applied technical skills and competencies, quantitative skills, and business knowledge commensurate with industry needs.
Graduates will:
Prepare reports and presentations, communicated effectively, for decision making.
Utilize relevant information to help make informed decisions about business.
Demonstrate the appropriate use of leadership skills.
Apply critical and strategic thinking to produce sound managerial decisions.
Evaluate situations using the discipline-specific tools covered in the program - e.g. accounting, law, management, marketing, economics.
Graduates from ACM's Business Management A.A.S. Program will be prepared for the world of business with their acquired analytical and creative thinking skills, communications skills, problem-solving skills, applied technical skills and competencies, quantitative skills, and business knowledge commensurate with industry needs.
Graduates will:
Identify and explain the various functions of running a business as a manager or entrepreneur.
Create and communicate effective written and oral reports.
Demonstrate business skills and knowledge in a workplace setting and exhibit professional behavior.
Understand the roles of vision, mission, leadership and management in an organization.
Apply critical and strategic thinking to produce sound managerial decisions.
Graduates from ACM's Economics A.S. Program will be prepared for transfer to four-year colleges with their acquired analytical and creative thinking skills, communications skills, problem-solving skills, applied technical skills and competencies, quantitative skills, and economics and business knowledge commensurate with industry needs.
Graduates will:
Be able to solve application problems dealing with scarcity, opportunity and choice.
Identify determinants of supply and demand, utility and elasticity.
Understand the effects of price ceilings and price floors.
Recognize and understand revenues, costs, marginal analysis and market structures.
Demonstrate understanding of GDP and its components differentiate between real and nominal values, and identify and calculate unemployment rates and inflation.
Define the concept of money and understand the process of money creation and the operation of financial institutions.
Identify and recognize the tools of fiscal and monetary policy.
