Financial Accounting

Catalog description

Basic principles relating to financial accounting, with emphasis on the preparation and interpretation of external financial statements. Topics include: the accounting cycle for service and merchandising concerns, accounting for current and long-term assets, and current and long-term liabilities; owner's equity for partnerships and corporations, use of the cash flow statement and the analysis and interpretation of financial statements. Lecture three hours per week. This course applies to one or more IAI majors. See an Academic Advisor for details.