ACC 150 - Accounting Principles I

Institution:

Pennsylvania Highlands Community College

Subject:

Accounting

Description:

This is an introductory accounting course designed to introduce underlying concepts and Generally Accepted Accounting Principles (GAAP) used in determining revenue recognition, expense recognition, asset valuation, and reporting of liabilities. Double-entry accounting is introduced and applied to service companies. The entire accounting cycle for a service business operating as a sole proprietorship will be presented from the point of original entry through the adjustment process, financial statement preparation, and post-closing trial balance preparation. Students will first be exposed to a manual accounting system, then QuickBooks Online will be utilized to expose students to computerized accounting systems.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.pennhighlands.edu

Phone Number:

(814) 262-6400

Regional Accreditation:

Middle States Association of Colleges and Schools

Calendar System:

Semester

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