ACCT 2101: Principles of Accounting I

3 Credit Hours

Prerequisite: ENGL 1101 and (MATH 1001 or MATH 1111 or MATH 1113 or MATH 1160 or MATH 1179 or MATH 1190 or MATH 2202)
Description:
A study of the underlying theory and application of financial accounting concepts.

Course Learning Outcomes
Students who successfully complete this course will be able to:

Learn how financial information is used by a variety of stakeholders (creditors, suppliers, investors, employees) particularly the financial statement information.
Understand and use the accounting equation to evaluate business events.
Understand the role of accounting in the business environment and the importance of basic accounting concepts for people involved in business decisions.
Evaluate the impact of business alternatives on company results using the financial statement information and ratio analysis.
Understand the role of ethics and values in the business and environment and how accounting processes and procedures may impact and be impacted by ethics and values.
Record accounting transactions throughout the business life cycle. Analyze and identify the financial statement effects of business events.
Explain and apply the various accounting methods available (according to GAAP) for recording events and evaluate the benefits/weaknesses of different methods.
Use current technology to view and interpret financial results.