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

Description: A study of fundamental principles of financial accounting beginning with the accounting cycle, including the preparation of financial statements for a service and merchandising enterprises with emphasis on corporate form and organization. The primary focus is on analyzing transactions and the use of accounting concepts.