Introductory Financial Accounting A study of the basic principles and concepts relating to the collection and summarization of accounting information, and the understanding, preparation, and use of the income statement, the balance sheet, and the statement of cash flows. An introductory study of the preparation and use of internal accounting information for the planning and controlling of company activities.
Topics covered include internal budgeting, cost allocation, and capital budgeting.
A study of the theory and principles underlying financial statements. Concise review of the basic principles and concepts relating to the collection and summarization of accounting information and the preparation of the income statement and the balance sheet. Basic financial statement analysis. Study in depth of theory and issues related to recognition and measurement of cash, receivables, inventories and revenue. A continuation of ACC 371.