BIP 127Introduction to Accounting

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Prerequisite: Completion of BIP 115. This course covers basic accounting concepts and procedures that are required to complete an accounting cycle using generally accepted accounting principles (GAAP). Employer tax responsibilities and payroll is covered. Account types, (assets, liabilities, equity, revenue, expenses) as well as procedures for bank reconciliations, and petty cash, are introduced. Learners complete business transactions from source documents to closing entries and the preparation of year end documents such as a balance sheet, income statement, and statement of owner's equity using QuickBooks. (AVC)