ACCT 120 - Intro to Financial Accounting

Credit(s): 3
3 hours lecture, 3 hours contact
Prerequisite(s): MATH 116 grade of D or better or MATH 201 or MATH 193/HONR 193.
This course introduces the nature and purpose of financial accounting and is designed for business students. It aims to develop a comprehensive understanding of the purpose of financial accounting and reporting in the modern business environment. The course highlights the operations and recording of transactions for service and merchandising businesses. In this course, students will critically assess the effectiveness of current accounting regulations and practices in achieving these purposes.
The course covers key concepts such as the differences between cash and accrual accounting, and students will apply the double-entry bookkeeping method to prepare accurate and meaningful financial statements. Through case studies and practical exercises, students will learn to find, analyze, and interpret specific information within financial statements, enabling them to make informed financial decisions that support ethical decision-making and effective financial management.

This is the Core Course for the General Business Certificate. For an explanation of the Core Course requirements, click here.