It’s essential that all small and large organizations have employees who understand accounting principles and can employ them for best business practices. In corporate, government, nonprofit and public accounting, the knowledge of debits and credits and accounting information systems is basic for all business activities
Program Benefits
The B.S. in Accounting program demonstrates quality Students attain a well-rounded education and skill set that can be applied to many leading industries
Course Curriculam
Accounting
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In double-entry accounting, which is a standard method used to record financial transactions, each transaction affects at least two accounts. These accounts are classified as either assets, liabilities, equity, revenue, or expenses. The two lines referred to in "two-line" accounting typically represent these two accounts:
Debit Line: This is the left-hand side of the accounting entry. It denotes an increase in assets and expenses or a decrease in liabilities and equity.
Credit Line: This is the right-hand side of the accounting entry. It denotes an increase in liabilities and equity or a decrease in assets and expenses.
Here’s a simplified example:
If a company sells goods and receives cash, the two-line entry would look like this:
Debit Cash (an asset, increasing asset account)
Credit Sales Revenue (an equity account, increasing revenue)
These entries ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced after each transaction. Double-entry accounting helps ensure accuracy and provides a clear audit trail of financial transactions.
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