Course Description
This class introduces the student to the basics of college accounting and will serve to develop a firm foundation for the fundamental financial accounting procedures that will be covered in ACCT 101. In this course you will learn how to analyze, record and summarize basic business transactions. You will learn how to utilize a worksheet to summarize adjustments, to prepare basic financial statements for a service-oriented enterprise, and to prepare closing entries. In addition, you will learn how to prepare bank reconciliations, and how to calculate and prepare a payroll. The class will also introduce the student to the basics of accounting for a merchandising business (buying and selling transactions) and will cover the complete accounting cycle for merchandising entities. This class will prepare the student for the next level in the accounting curriculum. The central objective of this course is to enable you to use accounting information in an informative way. When you master the material in this course, you will have a basic understanding of how the activities of an organization (sole proprietor) are reflected in the financial statements, and you will have an understanding of the basic terms and content of financial statements.
