(ACCT 200) Principles of Accounting I
Introduction to principles of financial and managerial accounting and the accounting regulatory environment. The class takes a financial statement user perspective to teach accounting concepts and definitions, how businesses record and report financial information externally, and basic tools for financial analysis. Managerial accounting topics include cost behavior, budgeting, and decision-making, among others.
| Credit Hours | 3.0 Lecture |
|---|---|
| Prerequisites | None |
| Offered | Fall, winter, spring |
| Programs | Accounting (BS), Business Management (BS), Hospitality and Tourism Management (BS), Business Education (BS), Accounting Minor, Associate of Sciences - Business Management (AS), |
Course Learning Outcomes
- Explain the role of accounting in business and society, including financial reporting requirements, regulatory influences, and ethical considerations.
- Prepare, interpret, and analyze core financial statements (balance sheet, income statement, statement of cash flows, and statement of stockholders’ equity) and explain how they articulate with one another.
- Understand the accounting cycle and the impact of transactions on financial statements.
- Evaluate company performance using financial analysis techniques.
- Apply managerial accounting tools such as cost behavior analysis, budgeting, CVP analysis, and decision models.