This course introduces the principles of financial accounting while covering the accounting cycle for service and merchandise companies. Emphasis is on analyzing transactions, summarizing through use of the general ledger, and reporting the results through the preparation of financial statements for use by internal and external decision makers such as stockholders, trade creditors, banks, unions, and governmental agencies. The fundamentals of accounting for inventories, receivables, plant assets, long-term liabilities, internal control, and owners' equity for proprietorship and corporate entities are stressed. Students are introduced to computerized accounting applications. Prerequisite: "C" or better inMTH 086.

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.

A description for this course has not been provided