ACCT& 201 : Principles of Accounting I
Emphasis on nature of accounting as a system of information for decision making. Specific topics include basic financial statements, the accounting cycle, forms of business organization, financial assets, inventories, and depreciation. (E)
MATH 090/091 or AMATH 121 or concurrent enrollment.
- Prepare and interpret financial statements for decision making in accordance with generally accepted accounting principles.
- Describe internal controls and their function in accounting.
- Analyze and record business transactions, adjusting entries, and closing entries throughout the accounting cycle.
- Compute and analyze the valuation and presentation of financial assets in the financial statements.
- Describe how the accounting equation helps to understand, analyze, and communicate the effects of business transactions and events in the financial statements.
- Explain and apply basic valuation theories of inventory.