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ACCT1010 — Introduction to Accounting

3 credits · 3 hours

ACCT 1010 - Introduction to Accounting ACCT 1010 - Introduction to Accounting Hours/Week: Lecture 3 Course Description: This course introduces the practice of accounting. Topics include transaction analysis, double-entry accounting, cash, petty cash, purchases/payables, sales/receivables, and specialized journals. Year-end procedures and financial statement preparation for service and merchandise companies, payroll, inventory valuation, and corporate structure and equity accounting are also covered. MnTC Goals None apply inventory valuation methods. analyze financial transactions. record financial transactions. account for cash/petty cash. account for service companies. account for merchandise companies. prepare year-end accrual accounting activities. prepare expanded financial statements. account for payroll activity. calculate and record interest on cost of goods sold. perform basic financial statement analysis. account for corporate equity. Minnesota Transfer Curriculum (MnTC): Goals and Competencies Competency Goals (MnTC Goals 1-6) None Theme Goals (MnTC Goals 7-10) None Courses and Registration

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