General Accounting
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AIB Course Code: 1002
Course Length: 16 weeks
Course Description:
General Accounting provides a complete foundation in basic accounting procedures. This course presents the fundamentals of accounting in a practical, up-to-date, and easy-to-comprehend manner. The goal is to provide students with a strong basic knowledge of accounting terms, concepts, and procedures. Emphasis is placed on developing a firm foundation of fundamental procedures with appropriate repetition of content through the use of examples and color-coded illustrations.
Audience:
Bank personnel with little or no accounting background at any level and individuals needing a preparatory course for Financial Accounting.
Learning Objectives:
After successfully completing this program, you will be able to:
- Understand the basic accounting cycle for a sole proprietor with a service or merchandising business and define the basic elements used, such as asset, liability, owner's equity, revenue, and expense accounts
- List the steps in the accounting cycle; prepare regular, adjusting and closing entries, a post-closing trial balance, and interim statements
- Understand and perform functions relative to bank accounts and cash funds
- Understand the implications of dealing with employee earnings and deductions, and with employee/employer taxes, payments, and reports
- Prepare a classified income statement and balance sheet, and compute working capital and current ratio
Textbook: College Accounting, 8th edition, Houghton Mifflin, 2005
Course Credits: 3.0
ACE College Credit Recommendation:
In the lower division baccalaureate/associate degree category, 3 semester hours in Accounting
Prerequisites:
Participants must be comfortable using Microsoft Excel. Students must have access to Microsoft Excel to complete the exercises in this course.
Required Software:
Microsoft Internet Explorer Browser 6.0 or higher or Netscape Browser 6.2 or higher; Microsoft Excel
