ACL 231 - Principles of Accounting I Lab

1 Credit Hour

Corequisite: AC 231. This lab course is designed to reinforce the basic accounting concepts and the understanding of the accounting cycle and financial statements as instructed in the Principles of Accounting I course. The lab course is required to be taken in conjunction with AC 231, Principles of Accounting I. The goal(s) are to provide a clear understanding of the basic principles of accounting as it applies to the accounting cycle and preparation of financial statements. An understanding of the principles and concepts of financial statements and financial reporting in accordance with general accepted accounting principles (GAAP) is emphasized. (FA, SP)