An introduction to accounting procedures and principles covering the accounting cycle, accounting for a merchandising business, special journals, control over cash, receivables, and inventories. A grade of C or higher must be achieved to continue with the next Accounting course.
- Measure the cost of a business' property, plant and equipment and calculate depreciation using the three most commonly used methods.
- Account for current liabilities and payrolls.
- Classify and accurately report long-term liabilities and investments on the balance sheet.
- Generate an accurate statement of cash flows.
- Perform a horizontal, vertical, and ratio analysis of a business using their financial statements.