ACCT 101 - Financial Accounting

Number of Credits: 3
Examine the development of the accounting cycle; prepare financial statements; assess accounting methods for business organizations. Apply generally accepted accounting principles (GAAP) to understand inventory costing methods, internal control, accounts receivable, depreciation, liabilities, and stockholders’ equity. Prerequisite: eligibility for ENGL-101, plus MAT-095. CLEP (Financial Accounting) accepted.

(Fall, Spring & Summer) Three hours lecture. Three Credits. Three billable hours.

Pre-requisite(s): eligibility for ENGL 101 plus MAT 095 .
Course Objectives: Upon successful completion of this course, students will be able to:
1. Define generally accepted accounting principles (GAAP).(PG1)
2. Document a full accounting cycle. (PG2)
3. Analyze merchandizing operations from an accounting
perspective. (PG2)
4. Explore aspects of accounting related to specific items on the
balance sheet and income statement.
5. Use accounting models to define, represent, and solve
mathematical problems. (PG5)
6. Analyze financial transactions. (PG2)