COMM240 Financial Accounting I

Financial Accounting I is an introductory course in accounting from the basic accounting equation to the preparation of the income statement, statement of owner's equity and balance sheet. This course covers merchandise operations, valuation and control of cash, temporary investments and receivables, inventories and cost of goods sold, principles of internal control and accounting for payroll liabilities. Includes important accounting principles and concepts as well as the classification of accounts. The use of special journals, worksheets and computerized accounting is also covered.