ACC 5050 - Foundations of Accounting

Credits: 4

A solid understanding of accounting principles and financial statements is essential for managerial decision making. This course provides students with a strong foundation in the principles of both financial and managerial accounting and their impact on business decisions. In addition to developing an understanding of financial accounting concepts and the accounting cycle, students will prepare, analyze, and interpret primary financial statements (i.e., balance sheet, income statement, and statement of cash flows). The course also exposes students to fundamental managerial accounting concepts, including cost allocation, cost-volume-profit analysis, operational budgeting, and financial planning.