ACC 142 - Financial Accounting

Credit(s) 3.00
Lecture Hours: 3.00
An introduction to the use of accounting in the decision making process. Information will be presented with a bias toward user orientation as opposed to preparer orientation. Course competencies will be developed in the areas of: Identifying the role of accounting in society, basic accounting and business terminology, concepts behind financial information, accepted accounting practices, analysis and interpretation of financial statements of sole proprietorships and corporations.

Prerequisite(s): MAT 053, or minimum placement scores based on college assessment or BUS 110
SLOs:
Upon successful completion of this course students will be able to:

Analyze business transactions.
Record fundamental business transactions.
Prepare balance sheets, income statements, and capital statements.
Interpret the information presented in the financial statements.
Develop recommendations and/or alternative courses of action based upon financial information.