This course provides an introduction to the objectives, principles, assumptions and concepts of financial accounting. It focuses on procedures and practices from the accounting cycle through financial statement presentation with an emphasis on recognizing, valuing, reporting, and disclosing assets, liabilities, and equity. This course presumes no previous accounting knowledge.

An introduction to the theory and fundamental concepts of the financial reporting process in modern business organizations. The course focuses on the accrual method of accounting and an introduction to GAAP theory. Topics covered include analyzing and recording business transactions, periodic determination of income and financial position, and preparation and understanding of financial statements.