ACC 241 - Principles of Accounting I

Institution:

Northwood University-Michigan

Subject:

Description:

The accounting sequence of ACC 241-242-243 is required of all students. This course covers the fundamental principles of accounting, how financial data is accumulated and reported, and the uses and limitations of financial data. Introduction is made to the operating cycle of a service and a merchandise business, including the sales cycle (cash receipts, accounts receivable and sales) and the purchases cycle (cash disbursements, inventory, accounts payable, cost of goods sold, and accrued expenses). The course will include the use of spreadsheets for problem solving and analysis. Students will be introduced to accounting software for accounting and reporting. A grade of a C- or better in ACC 241 is a prerequisite for ACC 242. Prerequisite: None

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.northwood.edu

Phone Number:

(989) 837-4200

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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