|410-111-VA, Accounting I |
This course will enable the student to acquire a basic understanding of accounting principles and their application in the creation of a fully integrated accounting system (for both service and merchandising concerns). This course is an introduction to accounting and includes double-entry accounting, books of original entry, the general ledger, adjusting and closing entries, preparation of basic financial statements, and analysis of various asset classifications (cash and receivables). Students will demonstrate their ability to record and maintain accurate and detailed accounting records used to support the business need for financial information as well as to prepare accurate financial statements to be used by external decision makers – suppliers, customers, government agencies and so on. Students will interpret these financial records and statements for the sole-proprietorship operating a merchandising or service concern.