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This course focuses on the relationships between business activities and events and the impact they have on financial statements from a prepare/user-of-accounting perspective. Students study financial transactions for both service and merchandising businesses and relate the transactions to a company's assets, liabilities, owners' equity, revenues, expenses, and cash flow. Areas of study include the basic accounting model, the process of the accounting cycle, accounting principles and terminology, financial statement analysis, and computerized accounting applications. Prerequisites: ENG 100 or appropriate placement score, MAT 090. F/S/SU

This is an introduction to the basic concepts of accounting, the accounting cycle, accounting systems including ethical consideration, and components of the financial statements. This course examines accounting as a system of communicating to owners, creditors, governmental bodies, and others needing the financial results of the operation of business entities. Also covered are concepts, theories, and conventions underlying measurement, processing of business activities, and reporting of the financial results of those activities. Prerequisite: MATH 1110.