Introduces the study of accounting principles for understanding of the theory and logic that underlie procedures and practices. Major topics include the accounting cycle for service and merchandising companies, special journals and subsidiary ledgers, internal control principles and practices, notes and interest, inventory systems and costing, plant assets and intangible asset accounting, and depreciation methods and practices. Prerequisite: college level reading, study skills, and math.

Prerequisite(s): ENGL 1010 or ENGH 1005 or higher with a minimum grade of C-, MAT 1010 or higher with a minimum grade of C-, or appropriate test scores.. Corequisite(s): ACC 1150 recommended if required for your degree. Teaches concepts and methods underlying preparation of financial statements utilizing generally accepted accounting principles (GAAP). Includes the accounting cycle; income determination for service and merchandising operations; and the reporting of assets, liabilities, and owner's equity for sole proprietorships and corporations.. Lab access fee of $25 for computers applies.. Canvas Course Mats $85/McGraw applies.