2017-2018 Academic Catalog and Student Handbook 
    
    Nov 29, 2020  
2017-2018 Academic Catalog and Student Handbook [ARCHIVED CATALOG]

ACC-220 Principles of Accounting I


Credits: 3
Contact Hours: Lec 3
This course covers basic accounting principles and practices used by corporations in the service and merchandising industries. Students learn accrual accounting terminology and how transactions are recorded during the accounting cycle. These transactions are then used to create four basic financial statements; Income Statement, Statement of Changes in Stockholder's Equity, Balance Sheet and Statement of Cash Flows. Throughout the course students will practice recording the transactions, prepare financial statements, and communicate the information formulated in those statements.