2020-2021 Catalog 
    
    Sep 18, 2020  
2020-2021 Catalog

ACC 121 - Introductory Accounting


Description: General ledger bookkeeping and preparing financial statements.

Credits: 3
Lecture: 3
Lab: 0

Course Content:
  1. Analyzing and recording transactions: general journal and general ledger
  2. Trial balance and adjusting entries
  3. Financial statements
  4. Closing entries and post-closing trial balance
  5. The accounting cycle for a merchandising concern - periodic inventory method
  6. Cash accounting and banking procedures
  7. Sales and cash receipts
  8. Purchases and cash payments
  9. Ethics in accounting

Learning Outcomes:
  1. Use generally accepted accounting principles to perform general ledger bookkeeping for a service business. (1, 2, 4, 6)
  2. Analyze and record financial transactions into a general ledger bookkeeping system for a merchandising concern. (5-8)
  3. Prepare general-purpose financial statements for service and merchandising concerns. (3, 5)
  4. Prepare a bank reconciliation report. (6)
  5. Appraise financial scenarios for ethical concerns. (9)