ACCT 2301 - Principles of Financial Accounting

CIP Code 5203015104

3 Course Credits

This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to transactions and events that affect business organizations. Students will examine the procedures and systems to accumulate, analyze, measure, and record financial transactions. Students will use recorded financial information to prepare a balance sheet, income statement, statement of cash flows, and statement of shareholders’ equity to communicate the business entity’s results of operations and financial position to users of financial information who are external to the company. Students will study the nature of assets, liabilities, and owners’ equity while learning to use reported financial information for purposes of making decisions about the company. Students will be exposed to International Financial Reporting Standards (IFRS).

3 Lecture Hours Per Week
48 Contact Hours

Instructional Methods: LEC

Registration Restrictions: TSI Met in Math or completion in MATH 0311 or MATH 0312.

Texas High Education Coordinating Board Lower Division Academic Course Guide Manual (ACGM) course