ACC1400 Financial Accounting
This course offers an introduction to accounting, emphasizing how general-purpose financial statements (Income Statement, Statement of Retained Earnings, Balance Sheet, and Statement of Cash Flows) communicate information about a business's performance and position to external stakeholders. Approximately one-third of the course emphasizes how the accountant processes and presents the information and includes exposure to recording transactions, adjusting entries, and preparing financial statements for service and merchandising firms according to established rules and procedures. The balance of the course examines major elements of the statements such as cash, receivables, inventory, long-lived assets, depreciation, current and long-term liabilities, and capital stock transactions. Basic financial statement analysis is also included.
Prerequisite
None