Accounting concepts and their application in transaction analysis and financial statement preparation; analysis of financial statements; and asset and equity accounting in proprietorships, partnerships, and corporations. Introduction to cost behavior, budgeting, responsibility accounting, cost control, and product costing. Emphasis on financial accounting. Accounting procedures and practices; the theory of accounts; the accounting cycle; preparation of classified financial statements; internal control; notes and interest; inventory systems; depreciation; payroll; accounting systems and concepts. Three lecture hours per week. TSI Requirement: M1; R1; W0. Prerequisite: None

Concepts and procedures of financial accounting. First, the information gathering, analysis, recording and reporting functions inherent in the complete accounting cycle. Second, the balance sheet areas of asset measurement, liability accounting and corporate owner's equity accounting. Prerequisite: Basic skills competency in reading, writing and math.