CIP 5203015104 An introduction to corporate financial statements, including their preparation using generally accepted accounting principles, their use in decision-making by persons outside the business organization, and their analysis and interpretation. (4 SCH, 3 lecture, 1 lab) Prerequisite: Sophomore standing or approval of the division chair. Required skill level: College level reading, writing and math.

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 and three laboratory hours per week. TSI Requirement: M1; R1; W0. Prerequisite: None. Lab Fee: $24