Financial accounting theory and practice oriented toward the use of financial statements for decision making. Accounting transactions are analyzed, recorded, and summarized for the preparation of general purpose financial statements in accordance with generally accepted accounting principles. 3 hour lecture, 1 hour computer lab. Prerequisite: sophomore status. 4 credits.

The study of accounting principles underlying financial reporting of organization to external users. The accounting model for capturing and processing the economic effects of financing, investing, and operating activities as well as the financial statements provided by the model are developed. Focus is placed on reading, interpreting, and applying the financial information in decision-making processes. Pre-requisite: MATH 121 with C or better. Three credit hours.