BAAC1102 - Principles of Accounting
BAAC1102 Principles of Accounting 3 Credit Hours
Prerequisites None
Goal A principle of Accounting is an introductory course intended to develop an understanding of the environment, role, and basic principles of accounting, primarily from the standpoint of the user of financial information.
Objectives Outcomes
To provide the student with an understanding of:

  1. The preparation and understanding of financial reporting for users external to the firm.
  2. The concepts and standards underlying the accounting procedures used to measure business performance.
  3. The use of accounting information for business decisions and as a basic language of business.
 The students should be able to:

  1. Analyze business transactions using accounting and financial terms.
  2. Record business transactions as entries in general, special, and multi-column journals.
  3. Post journal entries to the general and subsidiary ledger accounts.
  4. Balance the general and subsidiary ledgers.
  5. Use work sheets to aid in adjusting and closing ledger accounts, and preparing financial statements.
  6. Prepare classified financial statements with supporting schedules.
  7. Prepare end-of-period adjusting, closing, and reversing journal entries.
  8. Account for a merchandising business, including its inventories and receivables.
  9. Account for partnership and corporate businesses.
  10. Control cash transactions and prepare bank reconciliation.
  11. Prepare basic payroll forms and entries.