Portland Community College | Portland, Oregon

This is an introductory course targeted at students that have had no prior accounting. The emphasis is on the analytical skills and procedures needed by business and accounting students, as well as those with financial record-keeping responsibilities in their current job.

An understanding of accounting is necessary to examine the performance and financial health of business. For this reason, accounting is often referred to as the ‘language of business’. This course is the ideal way for students to acquire a valuable skill as well as begin to develop an appreciation of the role of accounting in the assessment and management of a business. Accordingly, it is recommended as a preliminary course both for students interested in business generally, and for those planning a career in accounting.

Upon successful completion of BA 111, the student will be able to: 

• Explain the conceptual foundation of the double-entry accounting model
• Demonstrate a basic understanding of the steps in the accounting cycle
• Apply knowledge of accounting procedures to rudimentary financial record-keeping requirements of a business
• Communicate effectively using basic accounting terminology

The application of basic accounting knowledge should be emphasized in assessment strategies, and should include:

1. Written examinations which demonstrate the ability to do accounting procedures as well as understand accounting principles and concepts.
2. Problem assignments which demonstrate the application of appropriate accounting procedures.
3. Any combination of the following: attendance and participation, or practice sets.

At the beginning of the course, the instructor will detail the methods used to evaluate student progress and the criteria for assigning a course grade.

• Definition of accounting
• Accounting equation
• Accounting elements
• Transaction analysis
• Double-entry accounting an debits and credits
• Journals and ledgers
• Accounting Cycle
• Worksheet
• Adjustments
• Financial statements
• Closing entries
• Cash basis and modified cash basis accounting
• Petty cash funds
• Bank reconciliations
• Payroll Accounting
• Merchandising transactions
• Subsidiary ledgers
• Special journals

COMPETENCIES AND SKILLS

• Apply the double-entry accounting model to the analysis and recording of common business transactions using a manual system of journals and ledger accounts
• Perform the steps in the accounting cycle to include the preparation of: worksheets, adjustments, financial statements, closing entries and trial balances
• Prepare bank reconciliations and related journal entries
• Apply payroll procedures to include the calculation and recording of employee earnings and payroll taxes