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Course Description

Schoolcraft is excited to offer traditional credit face-to-face, hybrid, online, and remote classes for Fall 2020 while providing students a safe experience based on recent COVID-19 concerns.

Please see the COVID-19 web page to learn more. Keep checking the schedule for additions on our New, Added, and Late Starting Courses web page.

Accounting - ACCT 103

Introduction to Accounting

4 Credit Hours
4 Lecture Hours

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.


(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.

Course Schedule

 CourseSectionCourse TitleLocationCredit HoursInstructorsSeats Available ⁄Capacity ⁄WaitlistStatusFeeDays-Time-Room

Fall; 2020; ACCOUNTING; No of Weeks : 12; Begins : 09/22/2020

 103142355Intro ACCTONL4Mellnick G5/31/0Open$12.00 

Fall; 2020; ACCOUNTING; No of Weeks : 15; Begins : 08/31/2020

 103142354Intro ACCTONL4Ware J13/31/0Open$12.00 
 103142500Intro ACCTRMT4Urso R20/30/0Open$12.00T R  08:00 AM-09:54 AM WEBWEB
 103142571Intro ACCTRMT4Urso R19/24/0Open$12.00W  05:00 PM-08:54 PM WEBWEB

Winter; 2021; ACCOUNTING; No of Weeks : 12; Begins : 02/02/2021

 103112357Intro ACCTONL4Mellnick G31/31/0Open$12.00 

Winter; 2021; ACCOUNTING; No of Weeks : 15; Begins : 01/11/2021

 103112353Intro ACCTONL4Mellnick G31/31/0Open$12.00 
 103112500Intro ACCTRMT4Urso R30/30/0Open$12.00M W  08:00 AM-09:54 AM WEBWEB

Key: Day of the Week

  • T = Tuesday
  • R = Thursday
  • S = Saturday
  • X = Sunday