Consortium for International Studies | Evaluated Learning Experience
Accounting I BUS 210
Varies; self-study.
September 2018 - Present.
Upon successful completion of this course, students will be able to: define and describe an accounting system; explain how business transactions can be recorded in terms of the resulting change in the elements of the accounting equation; describe and illustrate the journalizing and posting of transactions to accounts, prepare adjusting entries for accruals, deferrals, and depreciation; describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements; distinguish between the activities and financial statements of service and merchandising businesses; and describe payroll accounting systems that use a payroll register, employee earnings records, and a general journal.
This self-study course includes 15 weekly lessons which provide a basic introduction to the standards underlying financial accounting systems. Topics include creating and interpreting income statements, balance sheets, and cash flow statements, as well as liabilities related to accounts payable, current portion of long-term debt, and notes payable, participants will have the opportunity to learn introductory accounting terms and their application in the business environment.
In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting 1, Principles of Accounting, or Financial Accounting (8/18) (9/23 revalidation).