ACC 100 - Introduction to Accounting

Credits: 3
3 Lecture Hours

Description
This course is an introduction to the fundamental concepts, procedures, and terminology of Accounting. It will address the basic principles of the accounting cycle such as analyzing transactions, journal entries, worksheets, adjustments, and closing entries. Bank reconciliations and petty cash processes will also be reviewed. It is aimed toward students who have not had previous exposure to accounting principles. Students who have passed ACC 104 or higher may not schedule this course.

Learning Outcomes
Upon successful completion of the course, the student will:

Apply the fundamental concepts of the accounting cycle.
Use and understand accounting terminology.
Demonstrate proficiency in the application of the accounting cycle including entries in the General Journal and the General ledger.
Produce a worksheet.
Produce professionally acceptable financial statements including Balance Sheets and Income Statements.
Produce bank reconciliation statements and related journal entries.
Establish petty cash funds, perform journal entries required for replinishment, record expenditures.

Listed Topics

The Accounting Equation
Analyzing Transactions using Debits and Credits
General Journal Entries and General Ledger
Trial Balance
Worksheets and Adjusting Entries
Financial Statements such as Balance Sheets, Income Statements, Statements of Owner’s Equity
Closing Entries and Post Closing Trial Balance
Bank Reconciliation
Petty Cash Procedures

Reference Materials
Current textbook.
Supplementary materials such as working papers, study guides, videos, handouts, library resources.

Approved By: Sutin, Stewart Date Approved: 02/23/2005

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ACC 100 - Introduction to Accounting