Equivalency Details

This course is designed to provide a conceptual introduction to financial accounting topics for business and accounting majors. Emphasis in the course is placed on using financial accounting information for decision making.Accounting theory of all commonly used accounts such as cash, investments, receivables, inventory, fixed assets, payables, bonds, and stocks are studied, as are accounting systems and controls, financial statement preparation, and analysis. Students will be introduced to the accounting cycle through computerized software.

Accounting has been called "the language of business." Accordingly, this course emphasizes the provision of relevant and reliable information used by investors, creditors and managers in making financial and business decisions. Areas of emphasis include the basic concepts and principles of financial accounting, the accounting cycle, financial statement preparation, information systems and processing, and internal control. Recognition, measurement, and classification of assets, liabilities, revenues and expenses are examined and the alternative forms of business organization are covered. BSBA majors only.