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).

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