Accounting is the process of recording changes, in terms of increases and decreases, in property and in the rights to property, and the analysis and interpretation of financial transactions. These courses are a study of the underlying theory and application of financial accounting concepts.
Accounting 2101 is an introduction to the fundamental principles and practices of accounting as a device for reporting business activity. The construction, understanding, and analysis of financial statements as they evolve from business transactions and records are emphasized. The rational synthesis of raw data into useful summary form in financial statements underlies all aspects of this course.
Accounting 2102 is a study of the underlying theory and application of managerial accounting concepts. It emphasizes application and utilization of accounting principles in business entities. The areas of costs, business management, budgeting, cost reporting and control, as well as specialized internal reports, are covered.