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. Financial Accounting, Weygandt, Keiso, and Kimmel, Second edition, 1998. The Wall Street Journal.
Ethics is an underlying concept in accounting, and is emphasized throughout the course.
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. Logical and critical thinking will be required in solving problems and cases related to any of the topics covered in the course. 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.