Financial Accounting

Catalog description

This is the study of accounting as an information system, examining why it is important and how it is used by business owners, managers, investors, creditors, and others to make decisions. The course covers the accounting information system, including recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the financial statements, and statement analysis. Includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics. Credit will not be awarded for both the honors and regular versions of a course. Credit will be awarded only for the first course completed with a grade of C or better or “P”.