This required core course in Accounting is split into two parts. Part I covers the essential topics in Financial Accounting and Part II covers the essential topics in Managerial Accounting.
In Financial Accounting, students examine the accounting principles and methods (GAAP) used in the preparation of the four principal financial statements, understand how transactions affect a firm's financial statements, and analyze and interpret financial statements.
In Managerial Accounting, students examine how a manager uses accounting information within his or her organization. In this part of the course, students explore how a firm determines the cost per unit of the products and services it sells; how it formulates and decides strategy based on accounting numbers; and how it plans, controls, and evaluates its operations.
Students who have BUS 205 transfer credit may not take this course.