ACC 101 - Accounting Principles I

Class: 3 Credits: 3
This course introduces basic accounting procedures for analyzing, recording, and summarizing financial transactions, adjusting and closing the financial records at the end of the accounting cycle, and preparing financial statements. Emphasis is also placed on accounting for current and long-term assets, current and long-term liabilities, statement of cash flow and financial statement analysis.

Prerequisite(s): Take ENG 032, MAT 032 or MAT 100, RDG 032 with a minimum grade of “C”.

Course Topics:

T-accounts and journal entries
Financial Statements
Adjusting Entries
Closing entries
Inventories
Special Journals
Bad Debt Expense
Depreciation
Payroll
Petty cash and Bank Reconciliation
Internal Control

Textbooks:
Textbook information can be found on the Book Inn Web site

Required Materials:

Computer and Internet Access
Publisher’s Access Code is required for online component

Grading System:
An overall grade of C or higher is required for transferability.

A 90 - 100
B 80 - 89
C 70 - 79
D 60 - 69
F 0 - 59

Student Learning Outcomes:

Apply basic double-entry accounting procedures.
Construct Financial Statements.
Identify and perform accounting practices for short-term liquid assets.
Apply basic principles of accounting internal control over cash.
Apply adjusting and closing procedures to complete the accounting cycle.
Evaluate and perform the accounting concepts associated with inventories and a merchandising business.
Apply accounting procedures to the acquisition and depreciation of property, plant and equipment.
Identify and perform accounting practices for current liabilities and payroll activities.

For SCC Online Courses:
If the course you are taking is online, please review the SCC Online Course Policies that include:

Identity Verification
Required materials for all online courses
Mandatory Attendance Requirement
Orientation and Support
Proctored Exams

Standard SCC Course Policies:
Please review the Standard Course Policies on the following topics:

Academic Integrity
Add/Drop period
Attendance
Classroom Conduct
Equal Access
IT Access
Online Behavior
Online Confidentiality
Services For Students with Disabilities
Student Concerns
Student Help Services
Withdrawals

Official Course Syllabus
2022-2023