ACCT& 201 - Principles of Accounting I

5 Credits

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

Course Note Recom: Sophomore standing and ACCTG 121.
Fees

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

Designed to Serve All students seeking an intermediate level of financial accounting knowledge.
Active Date 20240322T08:18:38

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. Receivables

Student Learning Outcomes
Accurately record business transactions in accounting journals and ledgers using generally accepted accounting principles.

Accurately prepare an income statement, statement of stockholders’ equity and balance sheet.

Process business data based on the correct interpretation of data analytics given a specific scenario.

Use computer applications to solve problems, calculate amounts and record business transactions based on a set of circumstances.