3 cr. LEC 3 hrs. Pre-req.: ENG 042, MAT 050 or appropriate placement test score This course addresses the fundamentals of accounting theory and practice: double entry, journals and ledgers, control accounts and subsidiary ledgers, financial statements, taxes, valuation reserves, inventory costing, accounting for notes, accruals and deferrals, and adjusting and closing entries.

Presents the accounting cycle for service and merchandising activities of a sole proprietorship; special journals and ledgers, accrued and deferred items, cash, receivables and inventories. General ledger and/or spreadsheet computerized accounting is required. Three hours lecture per week.