Introduction to the preparation and use of financial statements for business entities, focusing on the uses and limitations of accounting information for external reporting, and emphasizing accounting as a provider of financial information. Prereq: BUSA 160 and a college-level math course. (Prereq of BUSA 160 not required for business minors.) Offered: Fall, Spring, and Summer I.

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.