PRINCIPLES OF ACCOUNTING I

  • Program: Accounting Careers
  • Course: Principles of Accounting I
  • Course #: ACCT1102
  • Total Credits: 4

Course Description

This course is an introduction to the fundamental concepts and principles which are used in a business environment to analyze and record transactions using the accrual method of accounting. This course also covers analyzing and recording transactions for cash, marketable securities, accounts receivable, payroll, current and contingent liabilities, inventories and plant assets.

Course Evaluation

Refer to Course Syllabus for detailed information regarding the requirements and evaluation standards for this course. The Course Syllabus will be distributed the first week of the course.

Disability Services

Hennepin Technical College offers reasonable accommodations to qualified students with disabilities. If you have a documented disability that may require accommodations, contact the college’s Disability Services Director: Sara Laviolette at Brooklyn Park (763-488-2477) or Jean Kreutter at Eden Prairie (952-995-1544).

Course Goals

The following goals will be addressed in the course:
Prepare financial statements
Recognize revenue
Determine the cost of an asset
Prepare closing entries
Prepare a bank reconciliation
Describe the financial statement of a merchandising business
Describe uncollectible receivables
Calculate adjusting entries
Compute the cost of inventory
Calculate depreciation
Prepare a payroll register
Determine employer liabilities for payroll

Credit Details
  • Lecture: 4
  • MnTC Goal: 0
Course Details
  • Prerequisites: 
    Qualifying score on reading assessment test OR ENGL0921
  • Campus: Brooklyn Park/Eden Prairie

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