ACCT 101Prin Accounting I

Catalog

An introduction to the basic principles of Accounting, and how to account for business transactions. Emphasis on the understanding of how financial statements are prepared, and how they are used as a basis for decision making by business owners, investors, creditors, government and others interested in the financial condition of an economic entity and the result of its operations. Topics include Analyzing Transactions; the Matching Concept and the Adjusting Process; Completing the Accounting Cycle; Accounting for Merchandising Business; Accounting Systems, Internal Controls, and Cash; and Receivables. 3 semester hours