The course is designed to provide users of accounting products with the foundations of accounting concepts, mechanics, and a perspective upon which intelligent use of accounting information rests. The course focuses on typical financial statements along with the environment in which they are produced and used. The student will learn to identify, measure and record economic events, and then study how to prepare the primary financial statements (balance sheet, income statement, and statement of cash flows). Finally, the students will learn how to read, understand and analyze financial statements. In depth consideration will be given to revenue recognition and other judgmental accounting issues.