Financial Accounting

This course introduces the student to the accounting function and how it is used within our economic society. It views accounting as an information-generating system that communicates financial data to support end users in their economic decision-making. This course covers the accounting information system and the recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the classified financial statements, and statement analysis. It also covers issues related to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls and ethics. This course is designed for students with an understanding of computer applications in word processing and spreadsheets, basic math skills and the ability to write in a businesslike manner. (C-ID ACCT 110) (CSU/UC)