Accounting I

Course Description

Accounting I is a semester course that covers basic fundamentals of the accounting cycle and an introduction to the accounting equation. We will cover the sequence of activities that are involved in completing the accounting cycle as well as the double-entry system of accounting, including journalizing business transactions and posting to the general ledger. These skills will be applied to practice activities based upon the business transactions of a service-type business operating as a sole proprietorship.

Units of Study

Unit 1: Introduction to Accounting

Unit 2: Analyzing Accounting Equation Activities for a Proprietorship

Unit 3: Recording Transactions in a General Journal

Unit 4: Posting Journal Entries to General Ledger Accounts

Unit 5: Cash Controls Systems

Unit 6: Financial Statements for a Proprietorship

Textbook: Century 21 Accounting, Gilbertson and Lehman, Thomson South-Western Cengage