ACCT& 201 - Principles of Accounting I

5 Credits

Generally accepted accounting principles and their application in determining assets, liabilities and equity; determination of periodic incomes; presentation of accounting systems and reports.

Course Note Recom: Sophomore standing and ACCTG 121.
Fees

Quarters Typically Offered
Summer Evening
Fall Day, Evening, Online
Winter Day, Evening, Online
Spring Day

Designed to Serve All students seeking an intermediate level of financial accounting knowledge.
Active Date 20200303T13:40:25

Grading Basis Decimal Grade
Class Limit 30
Contact Hours: Lecture 55
Total Contact Hours 55
Degree Distributions:
ProfTech Course Yes
Transferable Elective Yes
Course Outline
A. Uses of Accounting Information and the Financial Statements

B. Analyzing Transactions

C. Measuring Business Income

D. Financial Reporting and Analysis

E. Operating Cycle, Merchandising Operations, Internal Control

F. Accounting for Inventories

G. Cash and Receivables

Student Learning Outcomes
Students will accurately record business transactions in accounting records using generally accepted accounting principles.

Students will accurately summarize recorded accounting transactions in a given financial statement or regulatory report based on industry standards.

Students will present accurate business data given a specific to a set of circumstances based on correct interpretation of data analytics.

Students will make concrete recommendations based on industry standards to correct variances between budgeted and actual financial results.

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