Prerequisite: A score of 16 on the Reading portion of the Enhanced ACT or REA 1013 with a grade of "C" or better.Principles of Accounting is a study of generally accepted accounting principles as applied to the fundamentals of double-entry accounting for the sole proprietorship. Special emphasis will be given to the accounting equation, reporting of assets and liabilities, and the process followed in preparing the income statement, statement of owner's equity, and the balance sheet. The student will complete a practice set focusing on the complete accounting cycle. Three lecture hours per week; three hours credit.

This course is a survey of uses of accounting information by investors and creditors for decision making. Emphasis is placed on basic accounting principles used to prepare, analyze, and interpret financial statements.