Equivalency Details

An introduction to accounting, providing students with a basic understanding of the recording process as it relates to both service and merchandising businesses. Topics include methods of recording accounting data, the preparation of financial statements and the accounting cycle.

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.