This is the study of accounting as an information system, examining why it is important, and how it is used by investors and creditors to make decisions. The course coverage includes the accounting information system and the recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, the classified financial statements, and statement analysis. It also includes issues relating to asset, liability, and equity valuation, revenue and expense recognition, cash flow, internal controls and ethics.