Introduction to Financial Accounting

In this course we will study the three fundamental financial accounting issues, including (1) recognition, (2) measurement/valuation, and (3) classification/disclosure and consider how business transactions are reflected on the financial statements using generally accepted accounting principles (GAAP). We will cover the four primary financial statements (balance sheet, income statement, statement of stockholders' equity, and statement of cash flows), the supporting footnotes to these statements, and several reports (annual reports, proxy statements, and press releases). The course incorporates both a preparer's perspective (i.e. how to apply GAAP requirements for recording and presenting financial information) and a user's perspective (I.e. how an investor or analyst can interpret and use financial statement information).