(5 credits)
Students in this introduction to accounting course take a top-down approach to understanding introductory accounting documents and procedures by exploring a business's financial statements, including the balance sheet, income statement, and cash flow statement. Students explore the practical uses for information that can be gleaned from these statements, individually and as a whole, through a detailed examination of the properties and characteristics of each statement. Students engage in application assignments and discussions on a variety of topics, such as regulations that should be followed when preparing financial statements as promulgated by generally accepted accounting principles (GAAP). Students examine the U.S. use of GAAP in comparison to the use of international financial reporting standards.
Pre-requisites
- BUSI 1001 or 1002
- MATH 1001, MATH 1002, MATH 1030, or MATH 1040