Upon successful completion of the course, students will be able to: identify and describe generally accepted accounting principles and techniques and apply those principles and techniques in preparing financial statements and reports; describe the purpose of accounting; construct the accounting equation; analyze business transactions; prepare and describe the purpose of simple financial statements; discuss the basic concepts of accrual accounting; and compute ratio analyses using financial information from real companies.
Instruction:
In this module, students acquire conceptual knowledge needed to apply generally accepted accounting principles (GAAP) in the preparation of financial statements. Major topics include: generally accepted accounting principles and techniques and apply those principles and techniques in preparing financial statements and reports, accounting; accounting equation; business transactions; financial statements; accrual accounting; and ratio analyses using financial information from real companies.
Credit recommendation:
In the lower division baccalaureate/associate degree category, 2 semester hours in Accounting or in the upper division baccalaureate degree category, 2 semester hours as a first course in Financial Accounting at the third-year level (6/05) (8/10 revalidation).