The page uses Browser Access Keys to help with keyboard navigation. Click to learn moreSkip to Navigation

Different browsers use different keystrokes to activate accesskey shortcuts. Please reference the following list to use access keys on your system.

Alt and the accesskey, for Internet Explorer on Windows
Shift and Alt and the accesskey, for Firefox on Windows
Shift and Esc and the accesskey, for Windows or Mac
Ctrl and the accesskey, for the following browsers on a Mac: Internet Explorer 5.2, Safari 1.2, Firefox, Mozilla, Netscape 6+.

We use the following access keys on our gateway

n Skip to Navigation
k Accesskeys description
h Help
Edmonds Community College    
  Nov 24, 2017
2011-2012 Catalog [ARCHIVED CATALOG]

[Add to Personal Catalog]

ACCT& 201 - Principles of Accounting I

5.0 Credits
Theory of asset, liability, and stockholders’ equity accounts; construction of financial statements (was ACCT 201). Prerequisite: ACCT 101, high school bookkeeping or instructor’s permission and minimum placement in EAP 121  or BRDGE 093 .

Course Objectives
Upon successful completion of this course, students will be able to:

  1. Recognize accounting transactions and record them in journals using proper formats. [REASON]
  2. Apply the concepts of accrual accounting to transactions that span fiscal periods. [REASON]
  3. Trace the effects of those transactions to financial statements. [REASON]
  4. Record accounting transactions for merchandising operations and understand how to cost inventories using a variety of methods. [REASON]
  5. Journalize transactions specific to managing cash and account receivable. [REASON]
  6. Record transactions for uncollectible accounts using generally accepted principals. [REASON]
  7. Prepare financial statements including income statements, statements of retained earnings, balance sheets and statements of cash flow. [COMMUNICATE]
  8. Journalize transactions involving definitely determinable and estimated liabilities. Identify contingent liabilities. Explain the effects of recording liabilities on financial statements. [COMMUNICATE]
  9. Calculate and explain the significance of liquidity and profitability ratios. [REASON]

[Add to Personal Catalog]