3 cr. LEC 3 hrs. Pre-req.: ENG 042, MAT 050 or appropriate placement test score This course addresses the fundamentals of accounting theory and practice: double entry, journals and ledgers, control accounts and subsidiary ledgers, financial statements, taxes, valuation reserves, inventory costing, accounting for notes, accruals and deferrals, and adjusting and closing entries.

Basic financial and managerial accounting principles as applied to manufacturing, service and retail enterprises. Includes the study of generally accepted accounting. Every semester. Prerequisites: 1) Sophomore standing and 2) MATH 1006 with a minimum grade of C or Math ACT 24 or above or department head approval.