Banner Title: Principles of Accounting I This course introduces the basic concepts of the complete accounting cycle and provides students with the necessary skills to maintain a set of books for sole proprietorships. Topics include accounting vocabulary and concepts, the accounting cycle and accounting for personal service businesses and merchandising enterprises, and cash control. Laboratory work demonstrates theory presented in class. Prerequisite: Diploma-level program admission Offered quarterly

This course studies the double-entry accounting system, including: the accounting cycle, books of original entry, preparation of journal entries, worksheets, the trial balance, and statements of financial position and income. Emphasis is on the proper recording and reporting of assets, liabilities, equity, revenue, and expenses.