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.

Course Outcomes
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

Program Outcomes
This course teaches to the following program outcomes:

apply manual methods and software tools to prepare accounting statements and reports
complete the accounting cycle, including end-of-period adjustments

Total Hours: 50 Lecture Hours: 50