ACC 101 - Principles of Accounting I

3 credits (PREREQUISITES: MATH 097, CAP 110)

This course is an introduction to accounting using the double-entry system with journals, ledgers, worksheets, and financial statements. Students will learn to journalize transactions, post to the general ledger, prepare financial statements and prepare the closing process. This course will prepare students to account for receivables and uncollectible accounts. Through the use of prepared statements and a corporate annual report, students will learn the Calculation of Current Ratio, Debt Ratio and other financial statement ratios. (F, Sp, Su)