Introduction to Accounting

0 units

In this course, we will study the three fundamental financial accounting issues -- (1) recognition, (2) measurement/valuation, and (3) classification/disclosure -- and consider how business transactions are reflected on the financial statements using generally accepted accounting principles (GAAP). We will cover the four primary financial statements (balance sheet, income statement, statement of stockholders' equity, and statement of cash flows), the supporting footnotes to these statements, and several reports (annual reports, proxy statements, and press releases). The course incorporates both a preparer's perspective (i.e., GAAP requirements for recording and presenting financial information) and a user's perspective (i.e., how an investor or analyst can interpret and use financial statement information). The goal of the course is to prepare students for advanced course work in accounting and finance classes, beginning in the Fall A term.