ACCT 201 - Introductory Accounting I

Institution:

Loyola University Chicago

Subject:

Accounting

Description:

Prerequisite: Sophomore standing. The major emphasis is on the development and reporting of accounting information for use by investors, creditors, and others. The student is required to develop skills in the preparation and use of accounting information and must demonstrate an understanding of the accounting process, and be able to evaluate the impact of estimates, alternative accounting principles, and the limitations of the accounting model on accounting information. Topics include: preparation and use of financial statements; the accounting process; and the measurement and reporting of income, assets, liabilities, and owners¿ equity. Outcome: The student will be able to understand the underlying principles, design, concepts, limitations, and the necessity of accounting systems. The student will gain an appreciation of the uses of financial data and financial statements and their impact on business decisions.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.luc.edu

Phone Number:

(773) 274-3000

Regional Accreditation:

North Central Association of Colleges and Schools

Calendar System:

Semester

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