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Aug 14, 2024
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2023-2024 Yavapai College Catalog [PREVIOUS CATALOG YEAR]
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ACC 131 - Principles of Accounting I ACC 2201. Description: Principles and procedures of accrual accounting applied to preparation and interpretation of general purpose financial statements.
Credits: 3 Lecture: 3 Lab: 0
Course Content:
- The accounting cycle
- Accounting for merchandising operations
- Inventories and cost of sales-- perpetual inventory method
- Cash and internal controls
- Accounting for receivables
- Plant assets, natural resources, and intangibles
- Current liabilities and payroll accounting
- Accounting for corporations
- Long-term liabilities
- Reporting the Statement of Cash Flows
- Financial statement interpretation and analysis
- Ethics in business and accounting
Learning Outcomes:
- Identify and apply generally accepted accounting principles. (1-11)
- Perform general ledger bookkeeping for service and merchandising concerns. (1-4)
- Perform advanced general ledger bookkeeping for sole proprietorships and corporations. (5-9)
- Prepare and interpret financial statements for sole proprietorships and corporations. (1, 2, 10, 11)
- Define and assess financial scenarios for ethical concerns. (12)
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