PRINCIPLES OF ACCOUNTING I COURSE （会计原理我课程）.pdf

PRINCIPLES OF ACCOUNTING I ACCT 10 10 3 Credit Hours COURSE INFORMATION Course Description: The study of basic principles of accounting, the accounting cycle, accrual accounting, and financial statements for proprietorships. Student Learning Outcomes: 1. Describe and illustrate accounting concepts for planning, controlling, and analyzing business operations. 2. Describe and illustrate the basic accounting concepts for recording, classifying, and summarizing business transactions on a day-to-day basis. 3. Illustrate the basic procedures for adjusting, closing entries, and summarizing the accounting records prior to the preparation of the financial statements. 4. Describe and illustrate the preparation of financial statements. 5. Describe and illustrate accounting devices, such as special journals and subsidiary ledgers, and various data processing methods, which are helpful in accounting systems. 6. Describe and illustrate procedures for preparing the accounting records of a merchandising enterprise for use in accumulating data for the following accounting period. 7. Identify and describe the two principal inventory systems and the inventory costing under FIFO, LIFO, and Average Cost. 8. Understand the nature of cash and importance of controls over cash. 9. Describe and illustrate the allowance method of accounting for uncollectible receivables. 10.Describe the characteristics of plant assets and illustrate the accounting for the acquisition and disposal of plant assets. 11.Describe the nature of depreciation, depletion, and amortization and illustrate the accounting for each item. 12.Describe and illustrate accounting for payrolls, including liabilities, arising from employee earnings, deductions from earnings, employers payroll taxes, and employees fringe benefits. Prerequisi