Principles of Financial Accounting. 3 Hours. [TCCN: ACCT 2301]

Catalog description

Students examine the fundamental concepts of financial accounting as defined by U.S. Generally Accepted Accounting Principles (GAAP) and learn how these concepts apply to real-world business activities. Students work through the full accounting cycle, learn how financial statements are prepared, and examine how businesses measure income and value key elements such as assets, liabilities, and stockholders’ equity. The course may emphasize the relevance of accounting information, showing how it informs both personal and organizational decision-making and providing insight into the role accounting plays in evaluating business performance. Students who plan to take ACCT 3313 must earn a minimum grade of C in ACCT 2301 . Prerequisite: 18 semester hours of college credit.