Course Description
Basic accounting systems, concepts, and principles. The primary
goals of this course are to develop an understanding of the
accounting process and to summarize and communicate information
useful in making economic decisions.
Athena Title
Principles of Accounting I
Equivalent Courses
Not open to students with credit in ACCT 2101, ACCT 2101H
Non-Traditional Format
This course will be taught 95% or more online.
Semester Course Offered
Offered every year.
Grading System
A - F (Traditional)
Student learning Outcomes
- Students will be able to navigate the basics of financial accounting and describe fundamental concepts, principles, and assumptions underlying financial accounting.
- Students will be able to identify general purpose financial statements and explain how the statements articulate.
- Students will be able to recall the financial accounting cycle from beginning balances to closing the books while being able to interpret each of the steps in the cycle.
- Students will be able to construct financial statements in accordance with Generally Accepted Accounting Principles (GAAP) and account for key items.
- Students will be able to interpret financial statements using ratio analysis.
Topical Outline
- Transactions analysis
- The accounting cycle
- Preparation of the financial statements
- Merchandising operations
- Inventories
- Internal Controls
- Receivables
- Long-term assets
- Liabilities
- Stockholders' equity
- Cash flows
- Ratio Analysis
Institutional Competencies Learning Outcomes
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
