BUS 111 - Financial Accounting
A comprehensive introduction to financial accounting concepts and techniques intended to provide a basic understanding of the accounting cycle, elements of financial statements, and interpretations. Elements examined include the creation of financial statements, accounting as an information system, accrual concepts, merchandising operations, inventory, internal control, cash, receivables, long-lived assets, liabilities, stockholders' equity, investments, cash flows, and financial analysis.
4 Class Hours
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
1. Understand the environment of accounting.
2. Prepare and explain financial statements.
3. Analyze liquidity, debt-to-equity, and asset utilization.
4. Measure and categorize revenues and expenses.
5. Extrapolate financial performance measures to project future results.
6. Compare an organization with other firms and industry.
7. Report and analyze inventory, receivables, long term assets including intangibles, payables, long-term liabilities and stockholders equity.
8. Understand basics of the annual report, debt vs equity financing.
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