ACCT2301 Principles of Financial Accounting

Course Description

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

PrerequisitesSophomore 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.