Accounting is a system for measuring and communicating the outcomes of business activities. The focus of financial accounting is the preparation of accounting reports by individuals within a firm for individuals outside the firm.
provide the student with a basic understanding of the concepts, principles, and economic motivations underlying financial accounting practices;
provide the student with the technical tools and references to analyze how a particular transaction affects a firm's financial statements;
make the student comfortable with financial data;
make the student aware of the care that must be taken when using accounting data as a source of information for making decisions.