ACC 111 - Principles of Accounting I

Credit(s): 3
This course explores the basic statements of an accounting system: the Balance Sheet, the Income Statement, and the Statement of Retained Earnings. Students will examine the accounting cycle with an emphasis on the methods of accumulating and summarizing data generated by business transactions. Students will apply their manual accounting skills to an automated accounting system using a learning management system. Areas of concentration will include: adjusting entries, closing process, inventory analysis, merchandising transactions, cash control procedures, and receivables.

Prerequisite(s): Eligibility for MTH 013 or MTH 085

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