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Accounting

ACCT 103


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Credit Hours

(4-0) 4 Cr. Hrs.

Section Start Dates


Section NoStart Date
142355September 16, 2014

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Introduction to Accounting


Course Description

In this course you will learn about the basic accounting cycle for a sole proprietorship in the service or merchandising industry. You will account for cash, sales, purchases, payroll and payroll taxes.

Prerequisites

(A requirement that must be completed before taking this course.)

  • None.

Course Competencies

Upon successful completion of the course, the student should be able to:

  • Explain the role of accounting in a business.
  • Analyze business transactions using the accounting equation.
  • Apply the rules of debits and credits to business transactions.
  • Prepare journal entries.
  • Prepare an income statement.
  • Prepare a statement of owner's equity.
  • Prepare a balance sheet.
  • Complete the accounting cycle for a service company.
  • Prepare bank reconciliations.
  • Calculate payroll and related payroll taxes.
  • Process payroll transactions.
  • Process transactions using special journals and subsidiary ledgers.
  • Complete the accounting cycle for a merchandising company.
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