Title: Credit Unit 1 Introduction
Course: SkillsCom BA 211 15.0 > Section: Credit Unit 1 Module 1

Accounting has been called the language of business. This Credit Unit shows you how the accounting function serves financial information needs of business stakeholders. Gaining familiarity with business terminology and the basics of accounting is our purpose in this Credit Unit. We will learn about the accounting equation and adjusting entries and how the accounting cycle works. We also introduce selected ethical issues that confront businesses and their stakeholders.

Course Outcomes:

- Use the accounting cycle to develop financial statements from business transactions.
- Analyze basic business economic events to determine their effect on accounts and financial statements.
- Interpret and analyze financial statements to aid in decision making.
- Demonstrate a basic understanding of the principles of internal control and apply them to relatively straight-forward situations to identify strengths and weaknesses.
- Interpret and analyze accrual and cash flow information presented in accounts.
- Analyze issues relating to inventory, receivables, long-lived assets, liabilities and stockholder’s equity and recommend appropriate accounting treatment.
- Describe basic generally-accepted accounting principles.