This course forms the first half of a two-semester course in Financial Accounting required for all CAPE Accounting major students. The course exposes students to and focuses on the nature, scope, and fundamentals of Financial Accounting, which provides financial information primarily for decision-makers outside the business entity. This financial information is provided to external decision-makers by means of general-purpose statements of operation (income statement), financial position (balance sheet), and cash flow (cash flow statement). The course also concentrates on the application of accounting theory, standards, principles, and procedures to accounting problems as well as financial reporting, preparation, and interpretation of financial statements for sole proprietorships, partnerships, corporations, and small and medium-sized entities (SME). Furthermore, the course will cover topics such as the accounting framework, control systems, the role of accounting as an Information System, Technology and Financial Accounting, and forms of business organization.
- Teacher: Soraya Rosado