Three hours per week. Prerequisite: Placement in MATH course numbered above 112. A "C" or better must beearned in ACCT 201 and in ACCT 202 as a prerequisite for all upper-level accounting courses except ACCT 310. An introduction to the use of accounting information and to the language of business as found in reports and financial statements as a basis for measuring performances and making business decisions. Topics covered include accounting for receivables, inventories, depreciation, current liabilities and partnerships.

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.