Principles of Financial Accounting – ACCT-A201

Introduction to financial accounting concepts and principles. Emphasizes the recognition and recording of financial information, the creation and understanding of financial statements, and the role accounting information takes in business and society.

Special Note: ACCT 101 and ACCT A102 will satisfy the requirement for ACCT A201. AAS accounting majors must take ACCT A101 and ACCT A102.

Course Competencies

  • Analyze basic economic events and input economic information into the financial accounting system.
  • Explain the development and flow of information through the accounting cycle.
  • Prepare basic financial statements for service and merchandising operations.
  • Demonstrate basic accounting principles and methods utilized in accounting for the assets of a company, the liabilities of a company and the equity of a company.
  • Calculate and interpret financial ratios
  • Interpret corporate financial statements.

Course Textbooks

Wild, J. (2017). Financial Accounting:Information for Decisions (8th Edition). New York, NY; McGraw-Hill Irwin. ISBN: 978-1-259-53300-6

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