ACC-110

Indicate a basic understanding of accounting theory using the “language of accounting.”

Classify and record transactions involving increases and decreases in assets, liabilities, owner’s equity, revenue, and expense accounts.

Record transactions in proper journals and ledger records, with a clear understanding of the nature of debts and credits.

Prepare a trial balance and the resulting financial statements, and record and make adjusting and closing entries at the end of the accounting cycle.

Compute and analyze the value of assets using proper accounting methods.

Analyze and record accounting transactions for both partnerships and corporations.

Understand accruing interest and payments of long-term liabilities and investments.

Accounting in Business

Analyzing and Recording Transactions

Adjusting Accounts and Preparing Financial Statements

Completing the Accounting Cycle

Accounting for Merchandising Operations

Inventories and Cost of Sales

Accounting for Receivables

Plant, Assets, Natural resources, and Intangibles

Accounting for Partnerships

Accounting for Corporations

Long-term Liabilities