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 and 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