Equivalency Details

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.

Students will develop literacy and skills in the application of the basic principles of financial accounting including accounting principles and practices, accounting journals and ledgers for recording business transactions, and application of the accounting cycle for service and merchandising enterprises from analysis of business transactions through preparation and evaluation of the income statement, balance sheet and statement of cash flows.