This course introduces the student to the basic theory, objectives and techniques of accounting, as the tool for understanding business financial performance. Emphasis is on the use and interpretation of common financial statements for business decision-making: income statement, balance sheet, statement of cash flows, and statement of owner’s equity. Topics include the identification, measurement and classification of financial effects of business transactions, and the appropriate treatment of those effects using Generally Accepted Accounting Practices (GAAP).

This course is a survey of uses of accounting information by investors and creditors for decision making. Emphasis is placed on basic accounting principles used to prepare, analyze, and interpret financial statements.