Prerequisites: None Corequisites: None Fees:Laboratory This course covers the theory and practice of measuring, recording, reporting and interpreting financial data for business units. Basic concepts, principles, and procedures are applied to the following topics: Operating cycle, transaction analysis, revenue and expense matching, accruals, deferrals, internal control, cash, merchandising, receivables, inventory, fixed assets, and liabilities. (CIP 5203015104) Field of Study Curriculum for Business - For Business Majors: This course is fully transferable to any public 4-year university in the state of Texas.

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