The first half of the introductory course in accounting emphasizes the role of accounting as an information and communication system necessary for economic decisions. The accounting process, systems and resulting classified financial statements are covered. Financial accounting concepts and practices relating to topics such as current and long term assets, inventories, current liabilites, equity and long term liabilities are included. Lab fee. (ATTR: BUS, ISP)

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.