ACCT 101 - Practical Accounting I 5 CR
Introduces the use of journals and ledgers for reporting business transactions. Students learn periodic adjustments, closing procedures, and preparation of financial statements.
Course Outcomes
- Evaluate the fundamental accounting equation
- Compute and record financial transactions
- Discuss the importance of cash management and Internal Controls
- Prepare and analyze financial statements
- Explain the steps taken to complete the accounting cycle
- Describe the need and use of special journals and subsidiary ledgers
- Discuss the relationship of ethics to financial accounting
GenEd Outcomes: Creative and Critical Thinking - Critical Thinking/Problem Solving
- Quantitative/Symbolic Reasoning
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