Financial reports are the most significant means for an organization to communicate its management results to stockholders, creditors, and regulators. This course covers concepts, principles, and practices, including preparation and interpretation, of financial reports. The financial reporting system and basic internal controls for the balance sheet, income statement, and cash flow statements are discussed. A student may not receive credit for both ACCT 101 and ACCT 203.

The business curriculum and to success in the business world beyond college. The purpose of the course is to (1) give students a grasp of accounting terminology, (2) help students learn the process of gathering, classifying and reporting financial information on financial statements, and (3) provide analytical skills necessary to understand the importance of financial statements in economic decision making. (ACCT 2301)