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A grade of C or above is required in this course.Prerequisite: Completion of a college-level math course with a grade of C or aboveThis introductory course includes the theory and application of major accounting principles and procedures. The following topics and problems will be studied and practiced: journalizing, financial statements, adjusting and closing entries, and systems and controls.

This course provides students with an understanding of the accounting cycle for service and merchandising firms. In addition, students reconcile bank accounts and maintain a manual payroll system. This course is intended for students in most career business curricula. This course is generally not transferable. Upon successful completion of this course, students should be able to: Record representative journal entries, post them to the general ledger, foot and balance the accounts, prepare a trial balance and complete a work sheet, financial statements and the remainder of the accounting cycle for a single proprietorship; Record representative business transactions for a merchandising business utilizing the appropriate special journals; Prepare all documents necessary for the maintenance of a checking account and prepare a bank reconciliation; Maintain and reconcile accounts receivable and accounts payable ledgers with appropriate control accounts; Compute and record adjustments for plant assets, prepaid expenses, merchandise inventory and accrued expenses; Maintain a payroll system.