Accounting One Class

Students will study the introduction of fundamental double-entry accounting concepts and terminology. there will be an emphasis on analyzing and recording business transactions and completing adjusting and closing entries for the accounting cycle of a business. student learning will include procedures for banking, cash funds, calculating and recording payroll, accrual accounting, and financial statements.

The accounting standards reflect the importance of being able to understand, interpret, and use accounting information to make financial decisions. in particular, the standards focus on the ability to:

  • Read, interpret, and analyze financial statements.
  • Apply generally accepted accounting principles.
  • Understand how the accounting system provides business information.
  • Recognize the various users of accounting information.
  • Understand the dynamic nature of the business environment in which accounting information is used.
  • Complete the various steps of the accounting cycle for a service and a merchandising business and explain the purpose of each step.
  • Apply appropriate accounting principles to various forms of ownership and payroll.