Fundamentals of Accounting

Description

In Accounting I, you will learn not only the technical vocabulary of business but also essential business skills such as how data from common business transactions is captured, summarized, and reported to interested decision makers. You will begin to learn how to read and interpret the resulting financial statements. You will begin to encounter ethical dilemmas that are inherent in financial reporting situations and to develop your own responses to them. In short, Accounting I is a course that is critical to your future success as a business student and to your later career in the business world. You will learn how to make sound business decisions and how to predict the consequences that those decisions will have on your company’s profitability and solvency. You will learn how prepare a plan for your company’s future (i.e., a budget) and how to compare actual results to your plan. The information in this course needs to be retained and applied far beyond the end of the semester if you are to be a successful business professional. Prerequisite: Any Q (Quantitative Reasoning) course.