Accounting

This course introduces the learners to accounting concepts, principles, and procedures, emphasizing financial accounting statements for corporations and accounting processes for a service and merchandise enterprise. Learners will have opportunities to give focus on the development and control aspects of the balance sheet and income statement elements, including current, plant, and intangible assets, deferrals, accruals, current and long-term liabilities, and stock transactions. Also, the learners will gain familiarity with the ethics, accounting systems, and controls, as well as concepts in short and long-term securities.

Principles of Accounting I is designed to provide learners accounting techniques and theories relative to business organizations by understanding the accounting theory, concepts, and procedures. While the emphasis will focus on financial accounting, learners will be to measurements and reporting of assets, equity, and liabilities. Learners will acquire knowledge of journalizing and posting transactions, information processing, worksheets, financial statements, and accounting concepts and procedures essential to the accounting cycle. Learners will use Excel to complete the accounting spreadsheet applications.

The course introduces learners to financial accounting concepts. Emphasis is on fundamental principles that undergird the preparation of financial accounting reports according to Generally Accepted Accounting Principles (GAAP). Learners will also be introduced to the accounting cycle and concepts and principles used in recording assets, stockholders' equity, liability, and revenues and expenses.

Learners will examine the difference between manufacturing operations and service organizations/merchandisers. Learners will gain knowledge in use accounting information and models to make business decisions. Learners will gain skills in the use of accounting information for their decision-making, planning, and control responsibilities. Learners will explore topics that include cost behavior, capital budgets, the development of master, and product costing practices are examined through the use of problems and cases. Emphasis is given to managerial accounting concepts for external and internal analysis, reporting, and decision-making.