AC 111 - Financial Accounting

Presents accounting concepts leading to the preparation of a company’s financial statements. Reviews the importance of good accounting information for the capital market and for proper decision making within a company. The Income Statement, Statement of Retained Earnings and the Balance Sheet are reviewed as well as the alternative accounting treatments available for items such as inventory and bad debts. At the end of the course, a student should be able to prepare financial statements for a small company.

Four credits.