ACC 1300 - Intro to Financial Accounting

Institution:

Babson College

Subject:

Description:

3.00 credits ACC1300 Introduction to Financial Accounting Foundation Management ACC 1300 is the required introduction to financial accounting course. Financial accounting involves the complete range of activity a company uses to prepare the financial statements it provides to people outside of the company, including shareholders, creditors, the government, customers, and suppliers. Students will learn how financial events (transactions) are identified, recognized, classified, recorded, and summarized into financial reports. These financial reports consist of the income statement, the balance sheet, the statement of cash flows, and the statement of stockholders' equity (as well as the associated explanatory statement footnotes). Students will learn both how to prepare and how to analyze and interpret these financial reports. Students will learn the language and terminology used in financial accounting that is prevalent in the financial press. Finally, the role ethics plays in the reporting of financial results will often be discussed. Many business scandals (such as Enron, WorldComm, and Tyco) result from falsifying financial accounting reports. Course offered each fall and spring.

Credits:

3.00

Credit Hours:

Prerequisites:

Corequisites:

Exclusions:

Level:

Instructional Type:

Lecture

Notes:

Additional Information:

Historical Version(s):

Institution Website:

www.babson.edu

Phone Number:

(781) 235-1200

Regional Accreditation:

New England Association of Schools and Colleges

Calendar System:

Semester

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