ACCT 253: Introductory Financial Accounting

This course equips you to analyze and prepare basic financial statements. Through the lens of a service corporation's accounting cycle, you'll learn how transactions flow within the accounting system. The course progresses to explore accounting for merchandise businesses, including inventory and cost of sales. You'll then delve into specific balance sheet components like internal controls, cash, receivables, property, plant and equipment, and liabilities. Later, the course tackles additional financial accounting issues unique to corporations, followed by an introduction to the statement of cash flows. Ethical considerations and generally accepted accounting principles (GAAP) are woven throughout as they apply to each topic. You'll also gain proficiency in using financial statement analysis tools and wrap up with an introduction to accounting for sole proprietorships and partnerships.

✔ Topics:

• Introduction to Financial Accounting and Financial Statements

• The Accounting Process

• Financial Accounting and Adjusting Entries

• The Classified Balance Sheet and Related Disclosures

• Accounting for the Sale of Goods

• Assigning Costs to Merchandise

• Cash and Receivables

• Long-Lived Assets

• Debt Financing: Current and Long-Term Liabilities

• Equity Financing

• The Statement of Cash Flows

• Financial Statement Analysis

• Proprietorships and Partnerships

Studying for another course? Select a course below to review the resource details and what’s included.

COURSE CODE

COURSE NAME

ACCT 253

Introductory Financial Accounting

ACCT 351

Intermediate Financial Accounting I

ACCT 352

Intermediate Financial Accounting II

ACCT 355

Cost Analysis

ACCT 451

Advanced Financial Accounting

ADMN 232

Introduction to Management

ECON 247

Microeconomics

ECON 248

Macroeconomics

ECON 357

Intermediate Microeconomics I

ECON 367

Intermediate Microeconomics II

FNCE 322

Personal Finance I

FNCE 370

Overview of Corporate Finance

FNCE 371

Applications in Corporate Finance

FNCE 401

Investments

FNCE 403

Derivatives and Risk Management

FNCE 405

Empirical Finance

LGST 369

Commercial Law

MATH 215

Introduction to Statistics

MGSC 301

Statistics for Business and Economics I

MGSC 312

Statistics for Business and Economics II

MKTG 396

Introduction to Marketing