The study of the accounting system, starting with the analysis of business transactions, through the accounting cycle and culminating in the preparation and analysis of financial statements. The focus of this course in financial accounting is the basic theory with respect to accounting for assets and equities. behavior will be included. All material is presented in accord with GAAP and with an understanding of the ethical responsibility of the accountant for accurate, complete and non-fraudulent reporting. This is the first semester of a two-semester course.

3-0-3 Offered Fall, Spring, and Summer Semesters Prerequisites: Placement into ENG 101 and satisfactory math test placement or completion of MAT 101, or MAT 105, or MAT 155 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. An introduction to accounting theory is included in this course.