Accounting Fundamentals I

This course is an introduction to the fundamental principles and practices of accounting as a device for reporting business activity. It provides the student with an understanding of the underlying theory and principles of accounting.

The construction of financial statements as they evolve from business transactions and records is emphasized using the rules of double-entry bookkeeping. In addition, adjusting journal entries and everyday transactions for both service and retail businesses are recorded coupled with the preparation of basic financial statements.

Introduction to Accounting; Financial Statements and Accounting Transactions; Analyzing and Recording Transactions; Adjusting Accounts for Financial Statements; Completing the Accounting Cycle and Classifying Accounts.