An introduction to basic principles of financial accounting, the effects of business transactions, and the effect on the financial statements. Learn how to prepare basic financial statements and to engage in decision making essentials in our economic system through analysis of receivables and inventories. Prerequisite: BAS 100 for Graduate & Professional Studies students.

This course is designed to provide a conceptual introduction to financial accounting topics for business and accounting majors. Emphasis in the course is placed on using financial accounting information for decision making.Accounting theory of all commonly used accounts such as cash, investments, receivables, inventory, fixed assets, payables, bonds, and stocks are studied, as are accounting systems and controls, financial statement preparation, and analysis. Students will be introduced to the accounting cycle through computerized software.