Accounting I is the first in a six-hour sequence, ACC177 and ACC178, required for accounting and business majors. It is a study of accounting as a means of communicating financial information about the activities of a business enterprise. The student will be able to understand and prepare financial statements for business organizations. Students with no previous accounting background should enroll in Introduction to Accounting. Prerequisite: high school accounting, ACC 111, Introduction to Accounting with a grade "C" or better, or permission of instructor.

The course addresses accounting concepts and principles applicable to business enterprises, including a study of the accounting cycle, accounting for assets, liabilities, and equity, and preparation and presentation of financial statements for external users. Prerequisites: MTSC 121. Credit, three hours.