Consortium for International Studies | Evaluated Learning Experience
Accounting I BUS 210
September 2018 - Present.
Upon successful completion of this course, students will be able to: define and describe an accounting system; understand 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).