Running any type of organization—whether it be manufacturing, merchandising, service, non-profit, or government—would practically be impossible without an understanding of financial and managerial accounting principles. This course introduces students to these important principles. In the financial component of the course, students take a detailed look at the three traditional accounting statements:

• balance sheet
• income statement
• cash flow statement

In the managerial component of the course, students look at how management accounting information is used by managers in their planning and control activities.

By the end of the course, students should be able to do the following:

• describe the topics, concepts, tools, and practices of accounting
• outline the information that accountants produce
• use accounting information for planning, operating, investing, financing, and management control decisions