Credits: 3 Catalog Description: The concepts, principles and standards of financial accounting as they apply to financial statements including the statement of cash flows are developed from a user perspective. Generally Accepted Accounting Principles are applied to cash, receivables, payables, inventory, long-term operational assets, long-term debt and equity. Prerequisite: Math skills equivalent to or concurrent registration in MAT092.

This course introduces basic accounting procedures for analyzing, recording, and summarizing financial transactions; adjusting and closing the financial records at the end of the accounting cycle; and preparing financial statements. Prerequisite: MAT 032 With a grade of C or better or placement into MAT 101.