Course Summary
Credit Type:
ACE Course Number:
14 weeks (75 hours)
Dates Offered:
Credit Recommendation & Competencies
Level Credits (SH) Subject
Lower-Division Baccalaureate 3 Accounting I


The course objective is to introduce students to the ways in which accounting principles are used in business operations.

Learning Outcomes:

  • identify and apply Generally Accepted Accounting Principles (GAAP)
  • apply the steps of the accounting cycle
  • post and analyze transactions using ledgers and journals
  • record adjusting entries for prepaid expenses and unearned revenue
  • complete an adjusted trial balance
  • perform a bank reconciliation
  • explain the purpose of the sales journal and the accounts receivable ledger and post entries to both
  • record the costs associated with the acquisition of property, plant, and equipment
  • explain the purpose of, and prepare entries for, the purchase order journal and accounts payable (A/P) ledger
  • identify the fundamental principles of an accounting information system

General Course Topics:

  • Accounting for business today
  • Recording business information
  • Financial statements
  • Journalizing and posting transactions
  • Preparing adjusting entries
  • Adjusted trial balance
  • The accounting cycle
  • Assets: cash and controls
  • Assets: sales and receivables
  • Assets: inventory valuation
  • Acquisition of property, plant, and equipment
  • Liabilities: purchasing and payables
  • Liabilities: notes payable and other current liabilities
  • Liabilities: employee and payroll accounting
  • Accounting information systems
Instruction & Assessment

Instructional Strategies:

  • Audio Visual Materials
  • Computer Based Training
  • Practical Exercises

Methods of Assessment:

  • Examinations
  • Quizzes

Minimum Passing Score:

Supplemental Materials

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