After a brief consideration of the meaning and purpose of accounting, this course explores the basic statements of an accounting system: the balance sheet, the income statement and the statement of owner's equity. Students will examine the accounting cycle with an emphasis on the methods of accumulating and summarizing data generated by business transactions. Students will apply their manual accounting skills to an automated accounting system using general ledger software. Areas of concentration will include adjusting entries, closing process, inventory analysis, merchandising, transactions, cash control procedures, receivables, and payables.

Multiple different courses may qualify as transferable. Check with the institution for definitive transfer information.