ACCT-126 Basic Accounting

4 cr.

This is a beginning accounting course designed to give a solid foundation of the complete accounting cycle for both a Service and Merchandising Business. The basic elements and concepts of accounting are presented with emphasis in the procedures used for maintaining journals, ledgers and other related records and for completion of end of period reports of a sole proprietor. The course goes through the accounting cycle which includes categorizing business transactions, recording transactions in the proper accounts, summarizing at the end of each accounting periods, and preparing financial statements. Prerequisites: RDNG 095 or RDNG-096 Offered: Fall, Spring