ACC 201-202 - Principles of Accounting I and II

Institution:

College of Our Lady of the Elms

Subject:

Description:

In this two-semester course, students come to understand fundamental accounting principles and the framework of the accounting system. This course provides a foundation of knowledge concerning the preparation and use of financial statements; the accounting process of analyzing, recording, classifying, and interpreting business transactions; and the role of accounting in proprietorships and corporations. Conceptual problems analyzed include accounting for cash, inventories, depreciation, long-term debt, investments, and periodic income of the business enterprise. Emphasis is placed on the value of reliable financial information, financial statements, and cash flow by management, stockholders, investors, and others in the decision-making process.

Credits:

6.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.elms.edu

Phone Number:

(413) 594-2761

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Semester

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