BA 115 Introduction to Accounting

Lecture Hours: 4
Credits: 4

Covers basic accounting principles and procedures to provide familiarity with financial records and current accounting terminology. Includes processing techniques for handling information: special journals and ledgers, controlling accounts, worksheets used in preparation of account statements, purchases, sales, and end-of-the-period procedures.

Student Learning Outcomes:

Define and use accounting terminology in business settings.
Analyze business transactions; locate and correct errors.
Journalize business transactions, post to the ledger, and prepare a trial balance.
Prepare a worksheet and complete an income statement and balance sheet.
Journalize adjusting and closing entries.
Use special journals for cash control.
Write checks, use petty cash records, reconcile bank and checkbook balances.
Use special journals and subsidiary records necessary to purchasing and selling in a retail business.
Complete an accounting cycle for a merchandising enterprise.
Figure and journalize material for payroll wages and taxes.

Content Outline

Accounting Cycle
- Analyzing business transactions
- Analyzing business transactions using T accounts
- General journal and general ledger
- Adjustments and the worksheet
- Closing entries and the post-closing trial balance
Recording Financial Data
- Sales and accounts receivable
- Purchases and accounts payable
- Cash receipts, cash payments, and banking procedures
Payroll Records and Procedures
- Computation, records, payment
- Taxes
Summarizing and Reporting Financial Information
Accruals, deferrals, and the worksheet
Financial statement and closing procedures