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Lake Washington Institute of Technology    
 
    
 
  Jan 22, 2018
 
Catalog 2017-2018

ACCT& 201 Principles of Accounting I

5 credits
The first course in the accounting transfer sequence. This course introduces basic principles, concepts, theories and procedures of recording, analyzing, and interpreting financial data.

Prerequisites: MATH 087  and ENGL 093  (or placement into MATH 098  or higher and ENGL 099  or higher). ACCT 111  recommended.

Quarters Offered: Fall, Spring

Student Outcomes/Competencies:
Upon successful completion of this course students will be able to:

  • Identify the purpose and uses of financial accounting
  • Apply basic accounting principles and assumptions to business transactions
  • Employ double-entry bookkeeping to record and report on basic business operational transactions in an accounting system
  • Describe the impact of basic operating transactions on a business’s financial position
  • Critically analyze a business’s financial position and operational results
  • Discuss the origins of fraud and means by which a business may protect itself from it 


Total Hours: 50 Lecture Hours: 50