Course Description
The student will demonstrate a knowledge of basic accounting principles and procedures. He or she will be able to maintain basic accounting records for a small business operation. Emphasis will be on service-oriented businesses. (This course will not count toward the accounting requirements of a transfer program or of the Accounting occupational program. Accounting majors should enroll in ACCT 1514.)
Topical Outline
- Accounting the Language of Business
- Analyzing Business Transactions
- Analyze Business Transactions using T-accounts
- The general journal and ledger
- Adjustments and the work sheet
- Closing entries and the post-closing trial balance
- Accounting for sales, accounts receivable, and cash receipts
- Accounting for purchases, accounts payable and cash payments
- Cash
- Payroll computations, records and payment
- Payroll taxes, deposits, and reports
- Accrual, deferrals and the worksheet
- Financial statements and the closing procedures
At the end of this course, students will be able to:
- Analyze and record accounting activity
- Understand need and content of financial statements
- Complete the accounting cycle
- Accomplish payroll records
- Complete accounting records and books for a small business
- Complete computerized accounting problems
General Education Distribution Area
Fine Arts