ACC 101 - Principles of Accounting I

Credits: 4

Prerequisite: ACC 100
Description: This introductory financial accounting course provides instruction in the theory and practice of accounting applicable to recording, summarizing, and reporting of business transactions for external reporting and other external uses. Subject matter includes coverage of asset valuation, revenue and expense recognition, and appropriate accounting for various asset, liability, and capital accounts. This course is required for business majors preparing for, and planning to transfer to a four-year college or university.

Transferable
Transferable to both UC and CSU

General Education:
Not approved for General Education

Student Learning Outcomes:

Describe the role of accounting and ethics in business and show familiarity with accounting terminology.
Summarize principles based on GAAP (and IFRS equivalents), such as the business entity and cost concept and revenue recognition and matching principles.
Describe the elements of internal control and illustrate its application to cash (bank reconciliations, petty cash).

Total Course In-Class (Contact) Hours: 72
Course Duration (Weeks): 18
Weekly Student Hours (In-Class) Lecture Hours: 4