ACT 101 Principles of Accounting I

COURSE NAME:  ACT 101 PRINCIPLES OF ACCOUNTING

Course Description (Detailed Syllabus is released upon registration)

Students will learn the essentials of accounting.  Upon completion of this course students will be able to: 1) define and use accounting terminology, generally accepted accounting principles (GAAP), business transactions, and explain the purpose of the accounting system,   2)  discuss the three types of business ownership, characteristics for basic accounting equation elements, and permanent/real or temporary/nominal accounts, 3) describe the accounting equation: Assets = Liabilities + Owner’s Equity and show how and why accounts are increased and decreased,  and  4) explain the rules of double-entry accounting to business transactions, define the theory of debit and credits, and explain debits and credits transactions.

Prerequisites

None

Required Resource Purchases

Textbook’s name, author’s name, and the ISBN will be released to the students upon registration.  . 

Software and additional resources, including author’s name and the ISBN will be released to the students upon registration.    

Additional Materials for Learning

1. Access to a printer or printing shop such as FedEx Kinko’s
2. Access to high speed Internet and a reliable computer
3. E-mail account that will be checked daily

 Course Grading and Policies

1. Points from:  Lessons, Assignments, Tests, Classroom Discussion, and Course Portfolio are factors in grade point calculation.
2. A = 90% – 100%, B = 80% – 89%, C = 70% – 79%, D = 60% – 69%, F = 59% and Below.
3. Late Assignment Policy: If unable to complete assignments or tests on time, please contact your instructor before the due dates.  Assignments or tests submitted after the due date without appropriate excuse and pre-approval will receive a zero score.

 Award Upon Completion

The student will receive 3 Credit Hours upon completion of this course.