Accounting Principles is an introduction to the field of accounting. It is designed for students majoring in accounting or business. The accounting cycle -– analyzing, journalizing, posting, adjusting entries, worksheet preparation, financial statement, and closing entries will be covered. Details of accounting for receivables, payables, cash, subsidiary ledgers, corporate organization, stock transactions, and dividends will be studied. Accounting principles illustrates accounting methods for service and merchandising firms, partnerships and corporations.
This class is a Gateway transcripted class and worth four Gateway credits.
Units Covered: Accounting and the Business Environment Recording Business Transactions The Adjusting Process Completing the Accounting Cycle Merchandising Operations Units Covered Continued Internal Control and Cash Receivables Plant Assets and Intangibles Current Liabilities and Payroll Corporations: Paid-In Capital, Balance Sheet Corporations: Effects on Retained Earnings and the Income Statement Partnerships
Late Assignments - Gateway Policy Late assignments will be accepted up to 24 hours late with a 50% late penalty reduction in grade point value.
Attendance/Absences If you are absent the day an assignment is due, you will be expected to turn that assignment in the day you return to school. Any test or quiz missed because of absence needs to be within three days of your return. If the absence is lengthy, special consideration will be made.
Cheating Group study and/or classmate assistance and support is encouraged and an effective learning method. However, suspected copying or cheating will be dealt with severely. All parties involved will receive no credit on such assignments and could face possible class termination. You are expected to complete your own individual answer files and assignments (even if you have worked together with someone). Do not accept answer files from classmates (this information can be traced).