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On Your Time Initiatives

RETL 261

Principles of Accounting

The theory of debits and credits and the accounting cycle is covered.  The course is a study of the preparation and interpretation of corporate financial statements with an emphasis on analysis and decision-making techniques through close examination of cash, receivables, inventory, fixed assets and depreciation, and current liabilities.

Learning Objectives/Outcomes

Upon completion of this course the student will be able to: 

  • Explain the accounting cycle, including the preparation and interpretation of financial statements for both service and merchandising businesses. 
  • Record inventory and explain the inventory valuation systems.
  • Explain and record various transactions involving cash (including a bank reconciliation), Receivables, Current Liabilities, Fixed Assets, and Payroll. 

Challenge the conventional. Create the exceptional. No Limits.

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