Equivalency Details

A study of accounting concepts and principles that govern the recording, processing, and reporting of accounting information. The significance of the financial statements and the analysis of accounting information for investors, creditors, and other external users in the decision making process is emphasized.

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.