The study of the accounting system, starting with the analysis of business transactions, through the accounting cycle and culminating in the preparation and analysis of financial statements. The focus of this course in financial accounting is the basic theory with respect to accounting for assets and equities. behavior will be included. All material is presented in accord with GAAP and with an understanding of the ethical responsibility of the accountant for accurate, complete and non-fraudulent reporting. This is the first semester of a two-semester course.

An introduction to financial accounting concepts and their application in the accounting process for business organizations. Includes financial statement preparation and analysis and communication of financial information. No previous knowledge of accounting required. Lab fee $2.