ACCT& 201: Principles of Accounting I

E- Students will explore the manner in which accountants pursue the goal of financial accounting: to provide useful, relevant information to users of financial statements. With a focus on merchandising enterprises, students look at how the accounts are organized, how they are affected by transactions, and how they impact one another. Students will explore the recording process, adjusting and closing entries, and the preparation of financial statements. Transaction analysis will focus on sales, purchases, cash, accounts receivable, and inventories, while additional topics include accounting information systems and internal control.