In Financial Accounting I, we learn generally accepted accounting principles (GAAP) and how the application of GAAP impacts the recording of financial transactions and the preparation of financial statements. Topics include: recording transactions; the accounting cycle; financial statement preparation; and, accounting for merchandising operations, inventory, cash and accounts receivable.

In Financial Accounting II we build upon the knowledge gained in Financial Accounting I. Topics include: depreciation of fixed assets; stockholder's equity; accounting for bonds and investments; and, cash flows, including preparing a statement of cash flow.