This is the first of a two-course sequence dealing with the preparation of the income statement, the statement of retained earnings, and the asset side of the balance sheet. Topics include accounting professions; the theoretical framework; discontinued operations; extraordinary items; accounting changes; cash; temporary investments; receivables; inventory; the costing, amortization, disposal and write-down of capital assets; and deferred charges including R&D costs.
Prerequisite: BBUS 221 and 60 credits