BA 111 - Introduction to Practical Accounting IPublic
This course covers the fundamental principles of double-entry accounting, use of the general journal and general ledger, simple financial statements, the accounting cycle, control of cash, and an introduction to payroll accounting, purchases and sales. Course Outcomes: 1. Demonstrate a basic understanding of the double-entry accounting system. 2. Manually complete the entire accounting cycle for a service- based sole proprietorship on the accrual basis. 3. Prepare basic financial statements for a service-based sole proprietorship. 4. Demonstrate an understanding of control of cash processes and bank reconciliations. 5. Calculate basic payroll and payroll tax activity. 6. Prepare simple federal quarterly and annual payroll tax forms.
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