Introduction to the theory of accounts and generally accepted accounting principles as applied to a corporation. Emphasis is placed on completing the accounting cycle, inventory and asset valuation and stockholders equity.

An introduction to the theory and fundamental concepts of the financial reporting process in modern business organizations. The course focuses on the accrual method of accounting and an introduction to GAAP theory. Topics covered include analyzing and recording business transactions, periodic determination of income and financial position, and preparation and understanding of financial statements.