STANDARD COURSE SYLLABUSPRINCIPLES OF ACCOUNTING I–ACC 2213(Revised Spring 2021)COURSE TITLE:Principles of Accounting I - ACC 2213COURSE DESCRIPTION:This course develops a study of the fundamentals and application of financial accountingprinciples that relate to business. The topics to be covered include the accounting cycle and the accountingsystems for service and merchandising businesses. (3 credit hours)COURSE GOALS:1. Demonstrate knowledge of accounting principles and practices.2. Process information through the accounting cycle.3. Prepare and interpret financial statements.4. Identify internal controls and ethics.5. Analyze and record transactions of current and plant assets and current liabilities.STUDENT LEARNING OUTCOMES:1. State the accounting equation and define each element of the equation.2. List the rules of debit and credit and the normal balances of accounts.3. Process information through the basic steps of the accounting cycle.4. Journalize the entries for merchandise transactions.5. Compute the cost of inventory under the perpetual inventory system using FIFO and LIFO costmethods.6. Develop an understanding of the importance of internal controls and ethics.7. Prepare a bank reconciliation and journalize any necessary entries.8. Account for small cash transactions using a petty cash fund.9. Journalize current asset entries including accounts receivable and notes receivable transactions.10. Journalize the entries for the allowance method of accounting for uncollectibles.11. Journalize entries for plant assets.COURSE REQUIREMENTS:•Students must meet the requirements of the NWCC attendance policy.•Students must have a final average that is passing as defined by the grading scale listed in the CourseOutline.•Students must take the final exam.METHODS OF INSTRUCTION:The methods of instruction used for this course may include any or all of the following:•Lecture•Classroom discussion•Audio/Visual presentation
