BA 111 - Introduction to Practical Accounting I

Abstract

BA 111 - Introduction to Practical Accounting I

This course covers the fundamental principles of double-entry accounting, use of the general journal and general ledger, simple financial statements, the accounting cycle, control of cash, and an introduction to payroll accounting, purchases and sales.

Course Outcomes:

Demonstrate a basic understanding of the double-entry accounting system.

Manually complete the entire accounting cycle for a service- based sole proprietorship on the accrual basis.

Prepare basic financial statements for a service-based sole proprietorship.

Demonstrate an understanding of control of cash processes and bank reconciliations.

Calculate basic payroll and payroll tax activity.

Prepare simple federal quarterly and annual payroll tax forms.