Introduction to concepts and principles of accounting, to include: recognition, analysis, measurement and recording of monetary information in business transactions. Emphasis of the course will be on understanding financial reporting for external users.
Course Credits: 3
Prerequisites: Sophomore standing and Math 1324 or equivalent.
Student Learning Outcomes
By the end of this course, students should be able to:
- Analyze business transactions and their effect on a firm’s assets, liabilities and equity.
- Understand the information systems used in the recording of transactions and preparation of financial statements.
- Recognize the importance of ethical, legal, and regulatory issues in the accounting profession
- Gain a basic understanding of the importance of financial accounting and financial statements to business managers.
- Identify how investing, financing, and operating decisions of businesses are reflected in financial statements.
- Understand the use of financial statements in making decisions.