An introduction to the fundamentals of financial accounting involving the communication of relevant financial information to external parties. Includes interpretation and effective use of financial statements through study of accounting model, the measurement processes, data classification and terminology. Discussions emphasize concepts, standards and generally accepted accounting principles as the rationale for accounting procedures.

This course introduces basic accounting procedures for analyzing, recording and summarizing financial transactions, adjusting and closing the financial records at the end of the accounting cycle, and preparing financial statements. Students identify sound ethical and personal values.