This course introduces students to the accounting cycle. The course reviews the fundamental concepts and techniques of recording transactions in journals, summarizing the transactions, using adjusting and closing procedures, and preparing financial statements and reports. It also introduces the student to valuation accounting relating to inventory and fixed assets, internal control concepts with an emphasis on cash control, procedures for notes payable and receivable, and payroll accounting.

- REFLECTION -

By taking this class, I recognized that accounting is a vital element of business. In fact, people use accounting in their daily lives when they study financial statements to make investment decisions, assess interest rates to pay off their house mortgages, and calculate rates for car payments. Therefore, accounting is a valuable tool that helps everybody record the way a business has grown and, after analyzing its data, suggests the way it should go in the future. Lastly, Accounting is the most basic support of business. Without an accounting education, students would be unprepared for the real world.