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.

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.