Principles of Financial & Management Accounting

Course Description

This course introduces you to accounting by providing an essential introduction for the accounting major. We begin with Basic Financial Accounting, covering the preparation and analysis of financial statements, including balance sheets, income statements, cash flow statements, and statements of retained earnings, with an emphasis on accurate recording and reporting. We then move on to Basic Managerial Accounting, which focuses on job order costing and cost flow analysis. Job order costing aids in tracking and managing costs for specific jobs or projects, while cost flow analysis reviews how costs move through inventory and the cost of goods sold. Success in this course requires a solid understanding of these core concepts and regular practice with diverse questions.