A study of the principles and processes used to communicate to external parties information about the financial position and the results of operations of business entities. Topics include the accounting principles, processes, and information systems used by service and merchandising firms in the preparation, use, and interpretation of financial statements. Three 50-minute sessions per week for 15 weeks. This schedule is tentative and may be changed by the instructor. All changes will be announced in class and students are responsible for any announced changes.
Assignments are to be completed prior to the start of class.
Prepare Income Statement, Statement of Retained Earnings and Balance Sheet. Material is presented to help students develop ethical sensitivity, an awareness of the types of ethical issues and situations that exist in business situations, and the opportunity to analyze cases involving ethical dilemmas. Computers will be used for word processing, spreadsheet-based problems, and the Internet. The library and the Internet will be used to locate and analyze financial information. The procedures used for the evaluation of student performance consist of examinations, homework assignments, written reports, group projects, and oral presentations.