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Dec 04, 2024
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ACCT 501 Foundations of AccountingThe objective of the course is to develop a working knowledge of basic accounting concepts and principles. The primary focus is on financial accounting and reporting by the business entity to external users. Students learn to read and understand the four standard financial reports: the balance sheet, income statement, statement of cash flows and statement of retained earnings with emphasis on developing interpretative skills in future managers. Managerial accounting topics such as cost-volume-profit relationships and budgeting are considered for developing decision-making skills. This course is waived if the student has completed the equivalent of Principles of Accounting I and II. Credit(s): 3
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