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
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.
