3 credits This course emphasizes the nature and purpose of financial accounting as a means of recording, classifying and interpreting accounting data. It includes the use of generally accepted accounting principles and procedures in recording transactions, the accounting cycle, the accrual basis of accounting, the preparation of classified statements and internal control procedures as they relate to sole proprietorships. The accounting cycle is completed both manually and by computer.

The study of accounting principles underlying financial reporting of organization to external users. The accounting model for capturing and processing the economic effects of financing, investing, and operating activities as well as the financial statements provided by the model are developed. Focus is placed on reading, interpreting, and applying the financial information in decision-making processes. Pre-requisite: MATH 121 with C or better. Three credit hours.