Prerequisite: ENG 094 and MAT 100. Introduces the basic principles of accounting theory and practice, emphasizing the sole-proprietorship form of business. Primary areas of study include the theory of debit and credit, accounts and special journals, the accounting cycle, notes and interest, accruals and deferrals, receivables, inventory, plant assets, and the preparation of financial statements.

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.