Course Details
Course Details
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Course Details

Blue Ridge Community College

ACC211: Principles of Accounting I

Introduces accounting principles with respect to financial reporting. Demonstrates how decision makers use accounting information for reporting purposes. Focuses on the preparation of accounting information and its use in the operation of organizations, as well as methods of analysis and interpretation of accounting information.

Overview
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Delivery Method
Online
Online
Delivery Method
Campus
Campus
Delivery Method
Hybrid
Hybrid
Credits
3.0
Estimate
Department
Accounting
Learning Outcomes
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  • Analyze business transactions and their effect on the accounting equation
  • Journalize and post daily transactions, adjusting and closing entries using the double-entry accrual basis accounting system
  • Prepare the income statement, statement of owner's equity, and balance sheet from the adjusted trial balance
  • Explain the purpose, objective and principles of internal control
  • Illustrate the application of internal control to cash (receipts and disbursements) and other assets
  • Prepare bank reconciliation and the associated journal entries
  • Journalize the purchase and sale of inventory
  • Account for inventory and cost of goods sold using various cost flow assumptions
  • Compute the lower of cost or market
  • Account for bad debt
  • Account for notes receivable using accrual based accounting methods
  • Compute depreciation, depletion and amortization in accordance with acceptable accounting methods
  • Account for the life cycle of long-term operational assets
  • Account for current liabilities using accrual based accounting methods
  • Differentiate between current and long-term liabilities
  • Account for long-term liabilities using acceptable accounting principles to include bonds payable and installment notes
  • Calculate the amounts involved in accounting for long-term liabilities to include bond issue price, interest and redemption and installment note payments and interest
  • Account for corporate transactions with stockholders to include issuance of stock, dividends, repurchase of stock and stock splits
  • Prepare a statement of retained earnings and a statement of stockholders' equity
  • Differentiate between operating, investing and financing activities as well as noncash investing and financing transactions
  • Prepare the statement of cash flows
  • Analyze financial statements to assess the liquidity, efficiency, solvency, market prospects and profitability of businesses
  • Optional (See Optional Topics)


Where Will This Course Transfer?
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Institution Identifier Name Notes Level
Southwest Virginia Community College ACC211Principles of Accounting I2-Year
Central Virginia Community CollegeACC211Principles of Accounting I2-Year
Longwood University ACCT240Principles of Accounting I4-Year
Longwood University ACCT2XXAccounting Elective4-Year
J Sargeant Reynolds Community CollegeACC211Principles of Accounting I2-Year
Virginia Western Community CollegeACC211Principles of Accounting I2-Year
Rappahannock Community CollegeACC211Principles of Accounting I2-Year
Paul D. Camp Community CollegeACC211Principles of Accounting I2-Year
Northern Virginia Community CollegeACC211Principles of Accounting I2-Year
Eastern Shore Community CollegeACC211Principles of Accounting I2-Year
Virginia Commonwealth UniversityACCT203INTRODUCTION TO ACCOUNTING IStudents will earn the same number of transfer credits (semester hours) as the course taken. (3-4 cr)4-Year
Mountain Empire Community CollegeACC211Principles of Accounting I2-Year
Danville Community CollegeACC211Principles of Accounting I2-Year
John Tyler Community CollegeACC211Principles of Accounting I2-Year
Patrick & Henry Community CollegeACC211Principles of Accounting I2-Year
Radford UniversityACTG211Fund of Financial Accounting4-Year
Wytheville Community CollegeACC211Principles of Accounting I2-Year
University of Mary WashingtonACCT101Principles of Accounting I4-Year
Thomas Nelson Community CollegeACC211Principles of Accounting I2-Year
Germanna Community CollegeACC211Principles of Accounting I2-Year
New River Community CollegeACC211Principles of Accounting I2-Year
Dabney S. Lancaster Community CollegeACC211Principles of Accounting I2-Year
The University of Virginia's College at WiseACC2010PRINCIPLES OF ACCOUNTING I4-Year
Southside Virginia Community CollegeACC211Principles of Accounting I2-Year
Piedmont Virginia Community CollegeACC211Principles of Accounting I2-Year
Tidewater Community CollegeACC211Principles of Accounting I2-Year
Lord Fairfax Community CollegeACC211Principles of Accounting I2-Year
Eastern Mennonite UniversityACTG221Financial Accounting4-Year
Virginia Highlands Community CollegeACC211Principles of Accounting I2-Year
Old Dominion UniversityACCT201PRIN OF FINANCIAL ACCOUNTING4-Year
Richard Bland College of William & MaryBUS201Principles of Accounting I2-Year
Christopher Newport UniversityACCT201Prin of Account I: Financial4-Year
James Madison UniversityCOB241FINANCIAL ACCOUNTINGThis course is not transferable for current JMU students.4-Year