This course introduces principles and concepts of financial accounting with emphasis on accounting for sole proprietorships. Areas covered include accounting for service and merchandising businesses, cash, receivables, inventory, plant assets and liabilities. Balance sheet and Income statement preparation and analysis are included. Prerequisites: (Test Scores or ENG 090 or ENG 091 or EAP 093 or higher) and (Test Scores or MAT 020 or higher)

Accounting has been called "the language of business." Accordingly, this course emphasizes the provision of relevant and reliable information used by investors, creditors and managers in making financial and business decisions. Areas of emphasis include the basic concepts and principles of financial accounting, the accounting cycle, financial statement preparation, information systems and processing, and internal control. Recognition, measurement, and classification of assets, liabilities, revenues and expenses are examined and the alternative forms of business organization are covered. BSBA majors only.