The acquisition of accounting skills provides managers with the knowledge, processes and basic understanding of financial information needed to make business decisions. Understanding the financial aspects of a company is a prerequisite of good managers who wish to make informed decisions regarding their company’s financial standing.
The purpose of this course is to provide students with an understanding of fundamental accounting concepts and prepare financial statements for business decision making. Topics include: GAAP and the Role of Accounting in Business; Financial Statements; Analyzing and Summarizing Transactions in Accounts; The Accounting Cycle; Accounting for Merchandising Businesses and Accounting Systems; Internal Controls and Cash; Receivables and Inventories; Fixed Assets and Current Liabilities.