3 semester hours An introduction to financial accounting from the analysis of transactions through the preparation of financial statements. Basic theory will emphasize the impact of business transactions on the accounting equation.

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.