Learn The Fundamentals of Accounting

This course provides an initial introduction to accounting. This course will introduce the student to the theory and practice of recording and reporting of financial events for service and merchandising enterprises for the purpose of preparing financial statements. Topics include the accounting cycle, cash and receivables, inventory valuation, and the use of special journals and subsidiary ledgers.

Program learning objectives/outcomes

On graduation. learners will be able to: 

• describe the functions of accounting records and financial reports;
• classify, record, and summarize business transactions as they relate to service and merchandising operations;
• prepare adjusting and closing entries and basic financial statements;
• account for the various classifications of assets and liabilities of a business;
• prepare special journals and subsidiary ledgers;
• demonstrate skills of orderly arrangements of data, self-checking and systematic analysis of data summarization