BU 102 Accounting I

(Introduction to Accounting)

Instructor: Mark Yoshihara

Hours: 24

Meeting times: Wednesdays 1 Pm to 4:30 PM

Credit hours: 4

Course description:

Methodology:

An introduction to basic accounting/bookkeeping skills:  Includes the basic theory of accounting, the accounting equation (expanded), debit and credit theory, creation of a chart of accounts, as well as, practice in analyzing, interpreting and journalizing transactions into a journal and then posting the transactions into a ledger, with the end result of being able to create basic accounting reports and financial statements – Trail Balance, Income Statement, and Balance Sheet.

Lecture

In class exercises

Homework

Learner outcomes:

• Define and list the functions of accounting
• Record transactions using the basic accounting equation
• See how revenue, expenses and withdrawals expand the basic accounting equation
• Prepare an income statement, a statement of owner's equity, and a balance sheet
• Set up an organize a chart of accounts
• Record transactions in T accounts according to the rules of debit and credit
• Prepare a trial balance
• Prepare financial statement from a trial balance
• Journalize - analyze and record business transactions into a journal
• Post - transfer information from a journal to a ledger
• Prepare a trial balance from the information in the ledger

Units: 

Chapters 1, 2 and 3

Evaluation:   

Attendance 10%, Participation 20%, Homework 30%, Final Exam 40%

Prerequisite courses or equivalent knowledge:

Completion of BC Grade 11 mathematics or equivalent

Resources used:

College Accounting a Practical Approach 8^th edition