Prerequisite: High school accounting or AC 101 (Accounting Fundamentals). This is a beginning course designed to equip students with a thorough knowledge of the fundamental accounting principles and basic accounting procedures applicable to the sole proprietorship form of business enterprise. The course includes basic principles and assumptions, cash receipts, cash payments, purchases, sales, receivables, payables, accruals and deferrals, fixed assets, intellectual property, depreciation, inventory and payroll. (Offered both semesters)

This course is a survey of uses of accounting information by investors and creditors for decision making. Emphasis is placed on basic accounting principles used to prepare, analyze, and interpret financial statements.