ACC 101 - Principles of Accounting I Financial

Institution:

Essex County College

Subject:

Description:

This course introduces the principles of financial accounting while covering the accounting cycle for service and merchandise companies. Emphasis is on analyzing transactions, summarizing through use of the general ledger, and reporting the results through the preparation of financial statements for use by internal and external decision makers such as stockholders, trade creditors, banks, unions, and governmental agencies. The fundamentals of accounting for inventories, receivables, plant assets, long-term liabilities, internal control, and owners' equity for proprietorship and corporate entities are stressed. Students are introduced to computerized accounting applications. Prerequisite: "C" or better inMTH 086.

Credits:

4.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.essex.edu

Phone Number:

(973) 877-3000

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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