Transcript title

Applied Accounting I

Credits

3

Grading mode

Standard letter grades

Total contact hours

30

Lecture hours

30

Prerequisites with concurrency

MTH 060 (or higher) or minimum placement Math Level 10.

Course Description

Designed to acquaint students with the basic functions of the bookkeeping and accounting process--journalizing transactions into the journal, posting to the general ledger, analyzing and adjusting the ledger, preparing simple financial statements for a service business and gaining an understanding and working knowledge of the overall payroll function. No previous accounting is required.

Course learning outcomes

1. Identify key accounting terms as they apply to sole proprietorships and service industry organizations.
2. Describe the basic accounting cycle process.
3. Journalize business transactions, post to the general ledger, and create adjusting entries.
4. Create and analyze basic financial statements.

Content outline

• Intro to Accounting
• Accounting Equation
• Double-Entry Accounting
• Journalizing/Posting
• Adjustments
• Closing Process
• Cash – Appendix Internal Controls
• Appendix Internal Controls Review
• Payroll Employee
• Payroll Employer

Required materials

Required textbook, online access, and specified calculator.