Accounting I is an introduction to manual accounting. Emphasis will be placed on fundamental accounting principles and their application in day-to-day business situations. This course is based on a service business organized as a sole proprietorship.
This course covers basic bookkeeping and accounting skills including double-entry General Journal entries, posting to the General Ledger, preparing a trial balance, recording adjustments in a 10-column worksheet, producing period-end financial statements, closing the temporary accounts, maintaining petty cash, and preparing bank reconciliations. Accounting 1 provides a solid foundation for learners wishing to further their accounting skills through computer accounting programs, payroll or advanced accounting courses.