ACC 101 - Principles of Accounting I

Institution:

Rockland Community College

Subject:

Description:

4 Credits, 4 Hours Students will be introduced to the field of financial accounting. Emphasis will be placed on learning Generally Accepted Accounting Principles (GAAP), which will allow students to record and present financial information in a meaningful way. In addition, to learning how to properly record a business transaction and prepare the financial statement according to GAAP, student will gain an understanding of how worksheets are prepared, prepare adjusting and closing entries, be introduced to special purpose journals, and the posting process, learn how to account for a merchandising business, learn the importance of internal controls and ethics, learn the proper accounting for short-term investments, notes and accounts receivable, learn various inventory costing methods and how to properly handle long-term assets (with particular emphasis on depreciation).

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.sunyrockland.edu/

Phone Number:

(845) 574-4000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

The Course Profile information is provided and updated by third parties including the respective institutions. While the institutions are able to update their information at any time, the information is not independently validated, and no party associated with this website can accept responsibility for its accuracy.