ACCT 204 - Financial Accounting

3 Credit(s)

This course provides students with fundamental exposure to the steps in the accounting cycle leading up to the preparation and analysis of financial statements. An emphasis is placed on the accounting theory and practice as it falls within the framework of U.S. Generally Accepted Accounting Principles (GAAP). A brief introduction to International Financial Reporting Standards (IFRS) is provided. In addition, the students are made aware of the opportunities within the accounting profession and the organizations that influence and contribute to its body of knowledge. Finally, ethical issues confronted by the accountant are also introduced and discussed. Prerequisites: Second semester freshman standing and majoring in accounting or enrolled in the Co-op program, or permission from the head of the Department of Accounting and Information Management.