ACC-1000 Fundamentals of Accounting

Credits 3
Preparation for ACC-1001 (formerly ACC-2001) for students lacking background in accounting. This course provides students with the fundamental process of completing financial statements, which includes recording financial information such as balance sheets, income statements and cash flow statements. Students also learn to communicate accounting information to third parties.

Note: Does not satisfy program concentration requirement in business related curricula; may not be taken for credit if credit has previously been received for ACC-1001 or higher.

Course Outcomes
1. Analyze the effect of basic business transactions as it pertains to the accounting equation.

2. Construct journal entries for basic business transactions.

3. Prepare the trial balance and worksheet information for monthly closing entries.

4. Construct financial statements from relevant information.