Study of accounting practices and procedures in accordance with generally accepted accounting principles and concepts. The technical bookkeeping procedures of analyzing, recording and reporting accounting information are presented from an external prospective. The significance of the accounting information contained within the financial statements, potential investors, creditors and other users of the information is emphasized.

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.