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This course presents accounting as an
information system that produces summary financial statements,
primarily for users external to a business or other
enterprise. Students study the forms of business organization and
the common transactions entered into by businesses. The
emphasis is on understanding and applying basic accounting
principles and other concepts that guide the reporting of
the effect of transactions and other economic events on the financial
condition and operating results of a business. Students
analyze and interpret historical financial statements, as well as,
the limitations of using this in making forward-looking
business decisions is included. The primary content emphasis
will be accounting for current assets and liabilities, long-term
assets ans liabilities, flow statements, and
financial statement analysis. Prerequisite: High School
Accounting with a grade of B or higher, ACT of at least 22 in Math,
ACCT 100, or by permission of Accounting Coordinator.
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