Principles of Financial Accounting

This course is the first in a two-course Principles of Financial Accounting sequence and provides an introduction to accounting theory, principles and practice. Instruction covers the uses, communication and processing of accounting information, as well as the recording, analyzing and summarizing of procedures used in preparing balance sheets and income statements. Additional topics include accounting for purchases and sales, receivables and payables, cash and inventories, plant and equipment, depreciation and natural resources, intangible assets and payrolls. Sole proprietorships and partnerships also are examined. Transferable for UC credit.