Course Description
Principles of Financial Acct
(3-3-0) This course is an introduction to the
fundamental concepts of financial accounting as
prescribed by U.S. generally accepted accounting
principles (GAAP) as applied to transactions and
events that affect business organizations.
Students will examine the procedures and systems
to accumulate, analyze, measure, and record
financial transactions. Students will use
recorded financial information to prepare a
balance sheet, income statement, statement of
cash flows, and statement of shareholders' equity
to communicate the business entity's results of
operations and financial position to users of
financial information who are external to the
company. Students will study the nature of
assets, liabilities, and owners' equity while
learning to use reported financial information
for purposes of making decisions about the
company. Students will be exposed to
International Financial Reporting Standards
Recommended Corequisite: MATH-1324
Semester hours:3
Lecture hours:3
Lab hours:0
Petition required:N
Course may be repeated for credit when the topic varies:N
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