BU300 Accounting Principles (3 cr.)

This course is designed to give students the foundations of financial accounting and reporting practices used by decision makers in today’s business environments. Financial accounting methods, the accounting cycle, internal controls, and accounting practices for different types of business entities are examined. Also examined are accounting for international operations, and the preparation of both domestic and international-based financial statements.

Upon completion of this course, students are expected to be able to do the following:

1. Explain the basic generally accepted accounting principles (GAAP).
2. Describe the different types of accounting systems.
3. Evaluate the information generated by and obtained from company accounting records.
4. Apply knowledge of accounting principles, theories, and concepts to company transactions.
5. Analyze and explain the impact of a particular decision on the financial statement of an entity.
6. Identify the various reporting requirements for different types of business entities.
7. Describe the accounting and reporting practices encountered in various international business entities.