Financial Accounting

Catalog description

This course presents accounting as an information system that produces basic financial statements, such as income statement, statement of owner's equity, cash flows statement, and balance sheet, primarily for external users of the business. Students study sole proprietorship, partnership, and corporation ownership and journal transactions as they relate to business. The main content emphasis will be accounting for current assets and liabilities, long-term assets and liabilities, corporations' cash flow statements, and financial statement analyses. The accountant's role of analyzing and interpreting data for decision-making is also included. This course uses all or some of the Microsoft Office Suite of programs. The students must use a current version of Microsoft Windows on a compatible computer in order to successfully complete the course. IAI: BUS 903