124 Principles of Accounting I
Introduces basic accounting principles and practices for service and merchandsing types of businesses. Areas include: accounting as an information system, the accounting cycle, financial statements and internal control, short-term liquid assets, inventories, and current liabilities and payroll. Special emphasis will be placed upon the practical application of accounting principles. 3cr., 3hr. lecture.
Prereq: ENG 19 with grade C or better or placement at least ENG 22 or 55, and MATH 1 or 18 either with grade C or better or placement at least MATH 22 or 82; or consent.
Student Learning Outcomes:
1. Complete the accounting cycle from source documents to
financial statements with emphasis on practical application of accounting
principles for a sole proprietorship.
2. Identify, assess, and recommend solutions to a business environment
based on internal control principles.