Introduction to financial and managerial accounting. Study of the language of business for both the user and preparer of accounting information. Topics include the accounting cycle, preparation of financial statements and their use, accounting for manufacturing concerns, budgeting and decisions making using accounting information. The course must be taken in a one year sequence and cannot be reversed. Prerequisites: Csc 101. Fl, Sp-3-

This course studies the double-entry accounting system, including: the accounting cycle, books of original entry, preparation of journal entries, worksheets, the trial balance, and statements of financial position and income. Emphasis is on the proper recording and reporting of assets, liabilities, equity, revenue, and expenses.