ACC 101 ACCOUNTING I

An introduction to the principles, concepts, and terminology of corporate financial accounting and reporting. Topics include revenues, expenses, assets, liabilities, income statements, balance sheets, and statements of cash flows. Students will become familiar with accounting debits and credits, learn how to record transactions, and understand the importance of the revenue recognition principle and the matching principle. Students will learn to perform economics-based analyses of accounting information from the viewpoint of the users of such information.