Principles of Accounting
Course: Can be used for Accounting 101, Introduction to Accounting
In a Principles of Accounting class, students will learn to: 1. Identify and apply Generally Accepted Accounting Principles (GAAP). 2. Apply the steps of the accounting cycle. 3. Post and analyze transactions using ledgers and journals. 4. Demonstrate how to record adjusting entries for prepaid expenses and unearned revenue. 5. Demonstrate understanding by completing an adjusted trial balance. 6. Perform a bank reconciliation. 7. Explain the purpose of the sales journal and the Accounts Receivable ledger and post entries to both. 8. Record the costs associated with the acquisition of property, plant, and equipment. 9. Explain the purpose of and prepare entries for the purchase order journal and accounts payable (A/P) ledger. 10. Identify the fundamental principles of an accounting information system.