ACCT113 - Accounting and Financial Reporting I

Credits: 3

This course is an introduction to accounting as the language of business and the purpose of accounting in business. Students will develop an understanding of the concepts and use of the classification of assets, liabilities, equity, revenue and expense accounts. The student will be introduced to accounting procedures necessary to prepare financial statements utilizing current concepts and accounting principles. This includes journalizing transactions, preparation of a trial balance, accounting adjustments, closing journal entries, inventory, accounts receivable, accounts payable, special journals, payroll, cash receipts, disbursements, and banking procedures.

Required course for