Introduces the accounting cycle Basic concepts covered include double-entry bookkeeping and examination of basic financial reports such as the balance sheet, statement of owner's equity and income statement Emphasis on cash receipts, cash disbursements, accounts receivable, and accounts payable Some assignments made using general ledger accounting software Intended to be the first accounting course for students who have not taken high school accounting or have no accounting experience

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.