An introductory course designed to develop an understanding of current accounting principles and their implication for published financial reports of business enterprises. The course approaches the subject from the view of the user of accounting information rather than that of a person who supplies the information.
This course emphasizes the use of accounting information to facilitate effective management decisions. Topics include cost determination, cost control and analysis, budgeting, profit-volume analysis and capital investment analysis.
In this course students will learn to apply the fundamental principles emanating from accounting's conceptual framework and undertake the practice of financial accounting. Students will become adept at performing the functions related to each step in the accounting cycle up to and including the preparation of the financial statements and client reports through a semester-long business simulation. Additionally, students will develop the skills necessary for assessing an organization's system of internal control and financial condition.