ACT 3080 Foundations of Financial Accounting
An introduction to financial accounting that teaches students how to use financial statements in the business decision-making process. Topics covered include, but are not limited to: Assets, liabilities, investments by owners, debt and equity instruments, income statements, distributions to owners, cash and accrual accounting, depreciation, inventory systems, cash flow, ratio analysis and annual reports. The course will also provide an introduction to fixed and variable costs as well as break-even analysis. This course will focus on what accounting information is, why it is important, and how it should be used.