This course is a review of the fundamental concepts of accounting. The focus is on financial statements that a firm prepares each year. How entries are recorded in accounts to capture all economic activity of the firm is explained. How accounts are organized and what transactions are entered there, are studied. Year-end entries and the accrual method of accounting are described.

After completing this review course the student should have an adequate understanding of
- how the financial position of a firm is represented in its financial statement
- how most common transactions are handled
- why the accrual method of accounting is useful to reflect the financial position of the firm
- the importance of organizing an accounting system that meets the needs of the firm
- what the income statement and balance sheet represent

Studies basic concepts of financial and managerial accounting. Viewpoint is that of the users of accounting information (especially managers) rather than the preparer (the accountant).

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters. Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.

By the end of this section, you will be able to:

Identify the components of GDP on the demand side and on the supply side
Evaluate how economists measure gross domestic product (GDP)
Contrast and calculate GDP, net exports, and net national product