ACCT1102 Principles of Accounting I

This course is an introduction to the fundamental concepts and principles which are used in a business environment to analyze and record transactions using the accrual method of accounting. This course also covers analyzing and recording transactions for cash, marketable securities, accounts receivable, payroll, current and contingent liabilities, inventories and plant assets.

Credits

4

Prerequisite

Qualifying score on reading assessment test OR ENGL0921

Course Requirements and Evaluation

Refer to Course Syllabus for detailed information regarding the requirements and evaluation standards for this course. The Course Syllabus will be distributed the first week of the course.

Learning Outcomes

The following outcomes will be addressed in the course:
Prepare financial statements
Recognize revenue
Determine the cost of an asset
Prepare closing entries
Prepare a bank reconciliation
Describe the financial statement of a merchandising business
Describe uncollectible receivables
Calculate adjusting entries
Compute the cost of inventory
Calculate depreciation
Prepare a payroll register
Determine employer liabilities for payroll

Text and References

A list of textbooks required for this course is available at the bookstore.

Course Scheduling

The scheduled hours of instruction include sixteen hours for each lecture credit, thirty two hours for each lab credit and forty hours for each credit of supervised occupational experience (SOE). Lecture credit may include formal or impromptu lectures, demonstrations or discussions with the entire class or with small groups or individuals. Refer to the Credit Details section of this course outline for the credit breakdown.

Accommodations Statement

Disability Services assists students with disabilities who need accommodations to access programs, services and college activities.  If this applies to you, please contact the DS Office on your campus to initiate the accommodations process. 
Brooklyn Park Campus - 763-488-2477
Eden Prairie Campus – 952-995-1544

Campus

Brooklyn Park Campus Eden Prairie Campus 952-995-1300

Credit Details

lecture:

4