The purpose of this course is to provide the student with the basic financial accounting skills, knowledge, and abilities that will enable him/her to effectively use general purpose financial statements prepared in conformity with Generally Accepted Accounting Principles as a fundamental element in the student's business management decision making process. Emphasis is on understanding the meaning and value of the balance sheet, income statement, and statement of cash flows, Pre-requisite: Sophomore standing.

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.