Course Descriptions for ACCT 2301
ACCT 2301 (3 Credit Hours)
Offered at BHC, CVC, EFC, ECC, MVC, NLC, RLC
Principles of Financial Accounting I
This is a Texas Common Course Number.
Prerequisite: TSI met or exempt in math, or equivalent.
Course Description: This course is an introduction to the fundamental concepts of financial accounting as prescribed by U.S. generally accepted accounting principles (GAAP) as applied to transactions and events that affect business organizations. Students will examine the procedures and systems to accumulate, analyze, measure, and record financial transactions. Students `will use recorded financial information to prepare a balance sheet, income statement, statement of cash flows, and statement of shareholders’ equity to communicate the business entity’s results of operations and financial position to users of financial information who are external to the company. Students will study the nature of assets, liabilities, and owners’ equity while learning to use reported financial information for purposes of making decisions about the company. Students will be exposed to International Financial Reporting Standards (IFRS). (3 Lec.)
Coordinating Board Academic Approval Number 5203015104