Principles of Accounting I

Catalog description

This course is the first course in a university-parallel introductory accounting sequence. Students are introduced to the basic accounting concepts and principles. Students prepare and interpret journal entries and financial statements. Students are introduced to internal controls and ethical issues and are equipped to recognize weaknesses in both areas. In addition, students assess costs and calculate expenses associated with inventory and long-term assets. Lastly, students determine the cost of financing corporations using both current and long-term liabilities, including bond issuance through the amortization of discounts or premiums.