• Accounting I

    The Language of Business



    1

    Purpose of Accounting:

    The purpose of accounting is to introduce to students the basic fundamental principles of business accounting and bookkeeping. Accounting is considered the "Language of Business.", and is a vital part of any business from large corporations such as GM, or Ford down to a small business such as Lake View Lawns. All business decisions are based upon the accurate keeping of the financial records. This class is excellent for those students thinking about entering for business in a college setting.

    Accounting Content:

    Business - More then just money!

    It's all about Balance! - Assets, Liabilities, and Owner's Equity

    Day to Day Business. - We must record.

    Debits & Credits - record keeping according to right & left sides

    Accounting Cycle - How it all works

    • One month at a time.
    • General Journal - The first place of original entry
    • Ledger Accounts - Where we keep track of individual accounts
    • Posting - transferring from the Journal to the Ledger
    • Worksheets - End of Month preparations
    • Financial Statements:
    • Income Statements - Profits & Loss
    • Statement of Changes in Owner's Equity
    • Balance Sheet - A=L+OE
    • Closing Accounts - Temporary vs. Permanent accounts
    • Post Closing Trial Balance - The last chance to make sure everything balances.

    The very necessary extras!

    1. Microsoft Excel Spreadsheets - Learning everything to a spreadsheet.
    2. Checking accounts - Fundamentals of handling cash.
    3. Payroll - Basics of learning and implementing payroll concepts
    4. Accounting Careers - It may be for You!
Last Modified on June 25, 2012