ACT 110 - Financial Accounting I

4 Credit(s)

Introduction to financial accounting, through the theory and logic underlying accounting procedures as well as the measurement and presentation of financial data. Brief review of the basic accounting cycle. Development of fundamental concepts in determination of income and presentation of financial position of business firms. Exposure to partnership accounting as well as coverage of corporation accounting including stocks, stockholder equity transactions, and bonds. Introduction to international accounting as well as statement of cash flows.

Prerequisite(s): ACT 101 with a passing grade or successful completion of high school accounting strongly recommended.