A basic course for those preparing for a bachelor's degree in business administration or accounting. Fundamental accounting concepts and procedures employed by business entities are examined. Basic areas covered include the accounting cycle, income statement, balance sheet, merchandise, cash, systems and controls, receivables, inventories, plant and intangible assets, and current liabilities. Students who have successfully completed ACCT 1050 or ACCT 1060 cannot earn credit in ACCT 1010 and those who have successfully completed ACCT 1010 cannot earn credit in ACCT 1050 or ACCT 1060. 3 hours lecture.

Provides a basic understanding of the role of financial accounting information in business and society. Focuses on the recording and reporting of business operating, financing, and investing events. Intended to open the door on understanding the world of business, provide insights on how businesses operate, and enable students to become familiar with the conventions used by business top report to shareholders and other interested external parties. Prerequisites: none.