Fundamentals of Accounting
Building on the concepts introduced in the core financial management course (CORE-GP.1021), this course covers the fundamentals of financial accounting for for-profit, nonprofit, and health-care organizations. It provides a look behind the financial statements used in all organizations and focuses on preparation of statements. Topics include journalizing transactions into debits and credits, double-entry accounting, creating general ledger accounts (T-accounts), and accounts receivable (including aging schedules). Students will also learn how and why accounting rules differ for for-profit, nonprofit, and health-care organizations. Examples of both for-profit and nonprofit financial statements will be reviewed.