An introduction to accounting information and the basic accounting cycle. Techniques of accounting for business transactions, preparation and interpretation of financial statements for internal control and external reporting and for use in making sound business decisions, forecasting and budgeting methods. May not be substituted for ACC 203 or 204.

Provides a framework in which nonbusiness majors can see how accounting relates to, and reports on, business activities. Introduces the basic financial accounting concepts, principles, and practices applied to the preparation and interpretation of the major financial statements. Takes a business process approach to the information requirements of external decision makers.