BTA 111 - Principle of Acounting I
Prof. Bhika
Fall I 2011
Course description
The course is the first in a two-part sequence that introduces financial accounting from a user's perspective. It introduces financial statements prepared in accordance with Generally Accepted Accounting Principles based on the US Financial Accounting Standards Board's rules. Students will learn about the mechanics and meaning of different forms of accounting and accounting issues related to accruals and assets. They will also study the performance of major New York-based for-profit businesses and not-for-profit organizations as revealed in their financial statements.
Reflection
During this course I learned the Accounting principles, how to use and apply the basic accounting equation, and most importantly, the techniques and rules about the recording process. Thanks to the acronyms and memory techniques introduces by our professor, I will always remember that "Debit" will increase expenses, assets and drawing accounts(DEAD) and "Credit" will increase capital, liabilities and revenue(CCLR). I also learned and analyzed the steps of accounting cycle and the financial statements including the Income Statements, Statement of Owner's Equity and Balance Sheet .
Assignments
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