This course introduces students to the fundamental concepts and practices of financial accounting. The course covers the basics of recording, summarizing, and analyzing financial transactions using the accounting cycle. Students learn to prepare and interpret financial statements, including the balance sheet, income statement, and statement of cash flows. Topics include accrual accounting, adjusting and closing entries, and the importance of ethical practices in accounting. The course also emphasizes the role of accounting in decision-making for businesses and individuals. Through practical exercises, students develop a foundational understanding of assets, liabilities, equity, revenues, and expenses. By the end of the course, students gain the skills to evaluate financial information critically and apply accounting principles to real-world scenarios. This course lays the groundwork for advanced studies in accounting and finance.
