A study of the process of identifying, analyzing, measuring, recording, interpreting and communicating accounting information for external decision-makers. The course focuses on the accounting cycle and the generally accepted accounting principles and procedures used to prepare financial statements for stockholders, creditors, and other external users. All material is presented with an understanding of the ethical responsibility of the accountant for appropriate, complete, and non-fraudulent reporting.

Introduces the basic financial accounting concepts, principles, and practices applied to the preparation and interpretation of the major financial statements. Included is complete coverage of the accounting cycle which is designed to satisfy the information requirements of external decision makers. Topics covered are asset valuation, liability measurement, income determination and equity activities. Integrated throughout is a discussion of ethical issues and considerations.