Principles of Financial Accounting

ACC* 115

Theory and practice of accounting for sole proprietorships, partnerships and corporations.Original entry and general ledger, accounting equation, classification of accounts, preparation of working papers, adjusting and closing entries and financial statements; accounting for monetary assets and inventories; introduction to plant assets, depreciation; intangible assets and amortization; common and preferred stock; bonds and other long-term liabilities; and financial statement ratio analysis for decision making. As an important part of this course, the student will use microcomputers to solve accounting problems. Not open to students who have successfully completed ACC 111. Prerequisite: MAT 085 or MAT 094 or MAT 095.