ACC 103 - Accounting I

Financial Accounting is the focus for this introductory course in Accounting. During the initial part of the course, students learn and apply fundamental bookkeeping procedures, including debit and credit analysis, journalizing, posting, and completing a trial balance. Adjustments and producing the Income Statement and Balance Sheet are essential elements for students in learning the accounting cycle. Students will also learn about merchandising accounting, inventory costing methods, and will gain some exposure to specialized journals and the subsidiary ledgers. Additional topics covered include bank reconciliations, bad debts and depreciation methods. At the end of the course, students focus on recording gains and losses on the disposal of assets.
Prerequisite: ENG 097, if required.
3 lecture hours per week.
3 credit hours