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 Hon
Equivalent Courses
Not open to students with credit in ACCT 2101, ACCT 2101E
Prerequisite
Permission of Honors
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
Analytical Thinking
The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.
