BA 211Z Principles of Financial Accounting

Imparts an understanding of the purpose of accounting, common financial statement items, and the principles of internal controls. Focuses on recording the impact of economic events on account balances using U.S. Generally Accepted Accounting Principles, and the creation and analysis of financial statements to aid in external decision making. This course is part of the Oregon Common Course Numbering System.

Credits

4

Prerequisite

MTH 095 or higher or test, BA 101Z and WR 121Z or WR 122Z or WR 123

Course Learning Outcomes

Upon successful completion of this course, the student will be able to:

1. Describe the purpose of accounting and its role in business and society

2. Explain common balance sheet and income statement items and how they fit in the accounting equation

3. Analyze and record the impact of basic business events on account balances within the accounting cycle in accordance with U.S. Generally Accepted Accounting Principles

4. Create the income statement and balance sheet using account balances in accordance with U.S. Generally Accepted Accounting Principles

5. Describe the purpose and principles of internal controls

6. Conduct basic analysis and interpretation of the income statement, balance sheet, and cash flow statement to aid in stakeholder decision making