Areas of study will include the accounting cycles for service and merchandising firms, preparation of the balance sheet, income statement, retained earnings statement, specific aspects of accounting such as the control over cash, accounts receivable, inventory, plant assets, payroll, and liabilities.
Financial accounting is concerned with external reporting of accounting data.
An overview of microcomputer accounting systems. Emphasis will be on computerized accounting systems for one-owner businesses and partnerships. Applications include using the microcomputer to establish and then operate a system of accounts for various types of business operations needed in business to make timely management decisions. A conceptual approach to intermediate level accounting theory and practice. Development of current accounting theory as applied to balance sheet evaluation and the determination of net income per operating statements including proprietorships, partnerships and corporations.