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ACCT 101

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Financial Accounting I

School of Business and Industry (School) Undergraduate

Academic Level

Undergraduate

Course Title

Financial Accounting I

Description

This course is the analysis and interpretation of basic accounting structure, systems, and controls applicable to various business entities. Students develop the ability to prepare and analyze the financial statements of sole proprietorships. This course provides an introduction to financial accounting, including generally accepted accounting principles, financial statement preparation, the accounting cycle, specialized journals, accounting for cash, accounts receivable, sales, inventories, and long-lived assets. Both service and retail businesses will be discussed. Only one of the following: ACCT100 or ACCT101 may be applied to a degree. ACCT100 cannot be used as a substitute for ACCT101. Also available through Online Learning.

3

Repeatable for Additional Credit

No

Prerequisites and Corerequisites

This course is an approved AA/AS elective

Yes

This course is an approved AAS elective

Yes

Honors Section Available

No