An introduction to basic accounting principles, concepts, and procedures. Topics include the accounting cycle, preparation of financial statements, accounting systems and special-purpose journals, internal control methods, inventory costing, short-term liquid assets. A manual practice set is completed.

Accounting has been called "the language of business." Accordingly, this course emphasizes the provision of relevant and reliable information used by investors, creditors and managers in making financial and business decisions. Areas of emphasis include the basic concepts and principles of financial accounting, the accounting cycle, financial statement preparation, information systems and processing, and internal control. Recognition, measurement, and classification of assets, liabilities, revenues and expenses are examined and the alternative forms of business organization are covered. BSBA majors only.