ACCT2101 — Financial Accounting
ACCT 2101 - Financial Accounting ACCT 2101 - Financial Accounting 4 Credits Focuses on basic accounting concepts with emphasis on how financial information is used in decision-making, primarily by creditors and investors. It focuses on what the financial statements reveal about the credit worthiness and financial performance of companies organized as corporations. Topics covered include preparation, analysis and interpretation of financial statements including income statements, balance sheet, statement of owner’s equity, and cash flow statement. Additional topics include processing accounting information, end of period adjustments, closing entries, cash versus accrual accounting, receivables, inventory, income measurement, current and fixed assets and liabilities, stockholders? equity, ratio analysis, cash flow, merchandising operations, and internal control. Meets lower-division transfer requirements for accounting and business administration majors at most 4-year institutions. Require completion of MATH 0840 or assessment into MATH 0940 or higher; recommended concurrent enrollment in BUS 1100 . Stockholders’ equity.Cash flow statement.Revenue recognition and income statement disclosures.Financial statement analysis using horizontal, vertical, and ratio analysis. Introduction and interpretation of the basic financial statements, income statements, balance sheet, statement of stockholders’ equity and statement of cash flow.Processing accounting information and end of period
Prerequisites: MATH0840