This course introduces basic accounting principles and terminology, the general format and flow of MIT's accounting process, and the relationship between end user and central accounting. No prior knowledge of accounting is required.
While this course is a general overview of the MIT accounting cycle, it does not cover specific procedures for completing MIT forms, monitoring MIT reports, or reconciling MIT statements.
Participants are introduced to:
- the definition of accounting
- the accounting equation
- accrual basis of accounting
- the main financial accounting statements
- the General Ledger
- the Treasurer's Report
Instructor: Frank Celani