AC 201 - Principles of Financial Accounting

Provides an introduction to the concepts and uses of financial accounting information in a business environment and its role in the economic decision-making process. Students will discover the uses and limitations of financial statements and related information and apply analytical tools in making both business and financial decisions. The course emphasizes the analysis of business transactions and the study of the accounting cycle. Topical areas in the course include accrual-based accounting concepts, internal controls, basic financial statement preparation and accounting elements of a corporate business entity. Ethical accounting standards are embedded throughout the course materials.
Lecture Hours: 3 Lab Hours: 0 Credits: 3