The preparation, communication and use of economic information for decision- making, with a focus on external users (e.g., investors, creditors). Topics included are an examination of economic events within a business, terminology and the underlying conceptual and framework of accounting, generally accepted accounting principles and the critical importance of ethical standards, and financial statements. Balance sheet coverage includes resources owned, and obligations owed by a company; the income statement provides insight into the performance of a company; the statement of cash flows identifies sources and uses of a company's cash flows; and financial statement analysis uses this information for a variety of decisions. Both the benefits of using financial accounting information, and its limitations, will be discussed. Prerequisite: ECON 100.
| Distribution Area | Prerequisites | Credits |
|---|---|---|
| ECON 100 | 1 course |
The preparation, communication and use of economic information for decision-making, with a focus on external users (e.g., investors, creditors). Topics included are an examination of economic events within a business; terminology, the underlying conceptual framework, and generally accepted accounting principles; and financial statements. Balance sheet coverage includes resources owned, and obligations owed, by a company; the income statement provides insight into the performance of a company; the statement of cash flows identifies sources and uses of a company's cash flows; and financial statement analysis uses this information for a variety of decisions. Both the benefits from using financial accounting information, and its limitations, will be discussed. Prerequisite: ECON 100.
| Distribution Area | Prerequisites | Credits |
|---|---|---|
| ECON 100 | 1 course |