91福利社

Principles of Financial Accounting I — ACCT 1010

1. Course Description
   • Credits: 4.00
   • Lecture Hours/Week: 3.00
   • Lab Hours/Week: 2.00
   • OJT Hours/Week: 0
   • Prerequisites: None
   • Corequisites: None
   • MnTC Goals: None
   This course covers the fundamental accounting concepts and principles which are used in a business environment to provide reports on the economic condition of a sole proprietor organization. The focus will be on the accrual method of accounting, utilizing Generally Accepted Accounting Principles (GAAP) to analyze and record transactions. The ultimate objective is to understand the effects of these transactions in order to provide timely and relevant information in the form of financial statements. This course provides detailed information on topics of the accounting cycle, journalizing, posting, trial balances, adjusting entries, financial statements, cash reconciliations and internal control.
2. Course Effective Dates: 8/21/17 – Present
3. Outline of Major Content Areas
   As noted on course syllabus
4. Learning Outcomes
   1. Understand "generally accepted accounting principles-GAAP" used in accrual accounting for revenue and expense recognition in business.
   2. Balance the accounting equation and understand its component parts.
   3. Journalize and post transactions for business understanding the concepts of debit and credit.
   4. Complete the accounting cycle and application to period close.
   5. Understand ethical and internal control issues pertaining to business.
   6. Prepare financial statements and evaluate financial performance.
5. Minnesota Transfer Curriculum Goal Area(s) and Competencies
   
6. Learner Outcomes Assessment
   As noted on course syllabus
7. Special Information
   None noted