Principles of Accounting starts with concepts and techniques of financial accounting as prescribed by the Financial Accounting Standards Board (FASB). Students study and understand balance sheets, income statements, cash flow statements, and journals and ledgers, and how to prepare them. Accounting concepts such as revenue recognition, asset measurement, alternative inventory valuation methods, intangible assets, present value, stockholders equity, and liabilities and interest are also studied. Students come away from the course with an understanding of the importance of accounting in business decision-making.
- Teacher: Jerry Chandler