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Jul 27, 2024
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2024-2025 Yavapai College Catalog
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ACC 131 - Principles of Accounting I  ACC 2201.
Description: U.S. GAAP rules and procedures of accrual accounting applied to the preparation and interpretation of general-purpose financial statements. Principles and procedures of accrual accounting applied to preparation and interpretation of general purpose financial statements.
Credits: 3
Lecture: 3
Lab: 0
Course Content:
- Role of Accounting
- Introduction to Financial Statements
- Identifying, Analyzing, and Recording Business Transactions
- Adjustment Process
- Closing Process
- Merchandising Transactions
- Occupational Fraud and Internal Controls
- Current liabilities
- Financial statement analysis- An Introduction
- Accounting Information Systems
- Ethics in business and accounting
- Sustainability Reporting: Environmental, Social, and Governance
Learning Outcomes:
- Identify and apply U.S. GAAP (Generally Accepted Accounting Principles). (1-12)
- Perform general ledger bookkeeping for service and merchandising concerns. (1-7)
- Perform general ledger bookkeeping for sole proprietorships and corporations. (2-7)
- Prepare and interpret financial statements for sole proprietorships and corporations. (2, 3, 4, 5, 8, 9, 10)
- Define and assess general business and financial scenarios for ethical concerns. (7, 11, 12)
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