Analyze business transactions, their effects on the financial statements and the interrelationships of the financial statements involving the following:
Cash transactions
Receivables and Net Realizable Value
Operational Assets and Depreciation
Inventory
Current Liabilities
Long-term Liabilities
Define, identify and demonstrate the impact of adjusting entries on financial statements.
Explain and demonstrate the differences between cash and accrual basis accounting.
Define and identify generally accepted accounting principles.
Required to be included in either ACCT2113 or 2123:
Analyze equity ownership transactions and their effect on the financial statements.
Identify the cash flow statement activities and explain the purpose of the cash flow statement.
Perform ratio analysis to evaluate financial statements.
Course Description An introduction to financial accounting concepts emphasizing the analysis of business transactions in accordance with generally accepted accounting principles (GAAP), the effect of these transactions on the financial statements, financial analysis, and the interrelationships of the financial statements. Credits: 3