ACC 100 — Introduction to Financial Accounting
The primary objective of this course is to develop the ability to read and interpret financial statements. This objective is accomplished not only by requiring students to understand the effect of transactions on financial statements and financial ratios but also by requiring them to record essential busines transactions, measure the amounts of assets, liabilities, owner's equities, revenues, and expenses, and prepare the primary financial statements. This focus is facilitated by a semester-long study of the content of corporate annual reports culminating in a comprehensive annual report project. Students also become familiar with the accounting information system of a small business by using QuickBooks to enter the transactions from a partnership's first year of business.
Requirements and Prerequisites
Prerequisite: Accounting majors: first-year status; non-accounting majors: