Introduction to financial accounting and its application to the reporting needs of organizations. Topics include basic accounting processes and procedures, financial statement preparation and analysis, internal control, and the valuation and measurement of accounts included in financial reports.

This course is a continuation of the study of financial accounting theory and practice. It emphasizes the recognition and measurement of liablities including leases and taxes, changes in stockholders’ equity, earnings per share, long-term investments, and the statement of cash flows.