Studies accounting concepts and their application in transaction analysis and financial statement preparation; also studies asset and equity accounting in proprietor- ships and corporations. Emphasizes accounting cycle for service and merchandising enterprises. Prerequisite: READ 0309 (can be taken concurrently) or by placement exam. (3:1).

48 lecture hours.............................................................3 credit hours Fundamentals of financial accounting concepts and interpretation of accounting data; analysis of financial statements; income and cash flow analysis; nature of assets, liabilities and equities; understanding and use of the accounting process. Course will include computer applications. Recommended prerequisite: MATH1314 and COSC1400 or equivalent.