Accounting principles and procedures essential to the preparation of financial statements are developed with emphasis on their form, relationship, and presentation. Introduction to accounting principles for sole proprietorships, partnerships, and corporations. Use of accounting systems and application of valuation principles to assets, liabilities, equity, revenues, and expenses.

Introduction to concepts and principles of accounting, to include: recognition, analysis, measurement and recording of monetary information in business transactions. Emphasis of the course will be on understanding financial reporting for external users.