This course explores what financial accounting is, why it is important, and how it is used by investors and creditors to make decisions. It covers the accounting information system and the recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the classified financial statements, and statement analysis. Topics include issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls, and ethics. UC CREDIT LIMITATION: Credit for ACCT 201 or ACCT 201H. C-ID ACCT-110.
Course Number: 3650