ACC 101 - Accounting Principles I
Basic principles of financial accounting for the business enterprise with emphasis on the valuation of business assets, measurement of net income, and double-entry techniques for recording transactions. Introduction to the cycle of accounting work, preparation of financial statements, and adjusting and closing procedures. Four class hours.
Prerequisite(s):TRS 094 or MTH 130, either with a grade of C or better OR MCC Level 4 Mathematics Placement OR equivalent.
Course Learning Outcomes
1. Identify and perform each step of the accounting cycle and perform basic financial analysis.
2. Apply and explain alternative methods of asset valuation and key internal controls.
3. Understand and demonstrate concepts such as Generally Accepted Accounting Principles (GAAP) and ethics.
Course Offered Fall and Spring