The first half of a year's course introduces the accounting cycle, the fundamental concepts and techniques of accounting for business transactions: business records, journals and ledgers, theory of debit and credit, analysis of business transactions, adjusting and closing entries, worksheets, preparation of financial statements, payroll preparation, taxation, the computer and accounting. Supplemental Laboratory work required. Prerequisite: MAT M1 or passing score on part of the COMPASS Math Assessment Test.

Introduces the basic financial accounting concepts, principles, and practices applied to the preparation and interpretation of the major financial statements. Included is complete coverage of the accounting cycle which is designed to satisfy the information requirements of external decision makers. Topics covered are asset valuation, liability measurement, income determination and equity activities. Integrated throughout is a discussion of ethical issues and considerations.