ACTG 201 - Principles of Financial Accounting

Credit(s): 4

An introduction to the theory and application of accounting, this course covers double entry accounting, the accounting cycle, merchandising operations, control accounts and subsidiary ledgers, internal control, cash, short-term investments, accounts receivable, merchandise inventory, plant assets, current liabilities, long-term liabilities, payroll, financial statement disclosures and partnership accounting. (Fall and Spring Semesters)

Course Learning Outcomes: Upon completion of the course, students will be able to

Utilize appropriate accounting terminology
Explain the accounting cycle and prepare accounting records and financial statements.
Prepare accountant’s working papers.
Allocate revenue and expenses to the appropriate accounting periods.
Explain the conceptual framework of accounting and the nature of the accounting profession.
Develop effective communication skills through reading, listening, writing, and speaking.