ACCT& 201 - Principles of Accounting I

Credits: 5
The first course in the accounting transfer sequence. Introduces basic principles, concepts, theories and procedures of recording, analyzing, and interpreting financial data. Students learn fundamentals of the accounting cycle, recording and classifying of transactions, and construction of financial statements. Students study manual and electronic accounting systems, accounting for cash, internal control, receivables, payables, and inventory. Includes computer application.

Enrollment Requirement: Eligible for ENGL& 101  and MATH 147 ; or instructor consent.

Course Outcomes:
Students who successfully complete this class will be able to:

1. Identify the purpose and uses of financial accounting.

2. Record and adjust basic business transactions.

3. Construct a basic income statement, balance sheet, and statement of stockholders’ equity.

4. Use a computer application to calculate amounts, solve problems, and/or record business transactions.

• Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
• Quantitative and Symbolic Reasoning - Quantitative Reasoning encompasses abilities necessary for a student to become literate in today’s technological world. Quantitative reasoning begins with basic skills and extends to problem solving.