ACCT 2101 - Accounting Principles I

Description

This course provides an introduction to the objectives, principles, assumptions, and concepts of financial accounting. It focuses on procedures from the accounting cycle including financial statement presentation for both service and merchandising businesses.

Learning Objectives

• Analyze effects of basic transactions on the accounting equation
• Journalize basic transactions and adjusting entries
• Describe the steps of the accounting cycle
• Describe the content and purpose of each of the four basic financial statements
• Prepare a basic balance sheet, income statement, retained earnings statement, and statement of cash flows (indirect method)
• Calculate basic business ratios and explain their significance