BUSN 5021 Financial Accounting

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Beneath this BUSN 5021 Financial Accounting course, students gain the preaching and skills to understand financial statements. In addition, they analyzed the many accounting policy options available to businesses and their impact on users. Topics include recording significant financial transactions, preparing financial statements, adjusting postings, accounts receivable and inventory accounting, real estate, plant and equipment, depreciation and sales of bonds and long-term debt, equity transactions, cash flow statements, income and expense accounting, As well as lease and repurchase agreements.

Accounting can be elaborated as analyzing, classifying, recording, summarizing, and interpreting business transactions. One of the critical aspects of the process is maintaining a "running sum" of "things." Examples of items a business can track include how much money the company currently has, how much the firm paid for utilities during the month, how much it owes, revenue for the year, and the total cost of all expenses. It buys materials. You want these subtotals always to be up-to-date so that you can easily access them when you need the information. It's like checking your bank balance when deciding if you have enough money to purchase with your debit card.

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