Jun 22, 2021
ACCTG 121 - Practical Accounting 5 Credits
Use traditional paper-based journals and ledgers to analyze, record and report financial information for a sole proprietorship-service and merchandising.
Designed to Serve Vocational Accounting, Business Transfer, Students seeking to update math skills
Active Date 2014-04-24
Grading System Decimal Grade
Class Limit 32
Contact Hours: Lecture 55 Lab 0 Worksite 0 Clinical 0 Other 0
Total Contact Hours 55
ProfTech Course Yes
Restricted Elective Yes
ProfTech Related Instruction
A. Analyzing, measuring, and recording business transactions.
B. Accounting for cash and payroll.
C. Using special journals.
D. Year-end closing process.
E. Creating financial statements.
Student Learning Outcomes
Analyzing business transactions, recognizing when the transaction should be recorded, classifying the transaction, measuring the dollar amount, recording the transaction in the electronic or manual accounting system using journal entries or accounts, and understanding the impact on the accounting equation after the transaction has been recorded.
Summarizing accounting data to general ledgers (or accounts), trial balances and work sheets, financial statements, annual reports, regulatory agency reports, or management reports.
Communicating through written or oral reports, statements, images, data, and other forms of accounting information to those who have an interest (stakeholders) in the economic entity.
Analyzing and interpreting business transactions, financial data, and notes to make decisions about the allocation of resources and to assess the implications and consequences of conclusions.
Using accounting information and other information to make decisions (for example, short term budget and long range business plan or financial analysis) about future operations.
Using accounting information as feedback to assess prior decisions by comparing those decisions to actual results and determining the impact of differences.
Performing duties individually or in teams in accordance with accepted accounting rules and regulations, laws, and ethical standards.
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