BUS 241Financial Accounting

Catalog

This course introduces the principles, concepts and role of accounting in business. Students will gain an understanding of accounting for, and reporting to, lenders, investors, regulators and other decision-makers who are outside of the firm. Double-entry bookkeeping, Generally Accepted Accounting Principles (GAAP), the accounting cycle, accounting systems and controls for different types of businesses (manufacturing, merchandising, and service), ethics, cash, receivables, balance sheets, income statements and analyses of financial reports are studied. (F,S)