About this course
Course Overview:
The goal of Financial Accounting Concepts is to enable students to understand how any given business event affects the financial statements. To that end, Edmonds' uses a horizontal financial statements model that allows students to see the simultaneous impact of a single business event on all of the key financial statements (the income statement, the balance sheet, and the statement of cash flows). This model also provides an effective means for comparing the effects of one transaction with the effects of another transaction. These are the big picture relationships that both accounting majors and general business students need to understand to function effectively in the business world.