Introductory Accounting

Catalog description

The objectives of the course are to help students: (1) understand what is in financial statements and what the statements say about a business, (2) identify the business activities that caused the amounts that appear in the statements, and (3) understand how, when, and at what amount the effects of manager and employee actions will appear in the statements. Typically offered Fall Spring Summer. Course Learning Outcomes 1. Identify and record business transactions and analyze the effect of such transactions on a company’s operating performance and financial position. 2. Explain and implement the basic procedures of the accounting cycle, including preparation of adjusting and closing entries, and the basic financial statements. 3. Strengthen critical thinking and organizational skills by analyzing accounting problems and formulating concise and straightforward solutions to such problems. 4. Demonstrate the ability to explain the contents and purpose of the basic financial statements. 5. Identify the major elements and components of annual reports. 6. Define and/or explain common terminology, key components, concepts, principles, and practices used in accounting to identify, record, and communicate business transactions. 7. Explain how accounting information affects users’ decisions by such activities as reading and performing elementary level analysis of financial statements. View Class Schedule