Financial Accounting is a study of accounting theories and concepts involved in analyzing, processing, interpreting, and communicating decision-making information for internal and external uses. Financial Accounting is the theory and practice of recording business transactions, preparing and analyzing financial statements, and applying procedures related to current assets, current liabilities, long-term assets, long-term liabilities, and payroll. ACCT 1413 or high school bookkeeping strongly recommended. OSRHE Matrix: AC 201

Introduction to accounting information, the basic accounting cycle, and consideration of selected financial statement topics. The course emphasizes the uses and limitations of accounting information in economic decision-making, as well as problem-solving, oral and written communication skills, and computer skills.