Equivalency Details

Introduces the basic financial accounting concepts, principles, and practices applied to the preparation and interpretation of the major financial statements. Includes complete coverage of the accounting cycle, which will satisfy the information requirements of external decision makers. Topics covered are: asset valuation, liability measurement, income determination, and equity activities. Integrated throughout is a discussion of ethical issues and considerations.

This course focuses on providing beginning accounting students with the necessary technical background to prepare them for advanced study. Emphasis is placed on analyzing accounting transactions and preparing financial accounting information for the user. Topics include the study of cash, investments, receivables, inventory, fixed and intangible assets, payables, bonds, and stocks. Students will complete several practice sets. Prerequisite: ACC 105. (Spring)