3 Credits Offered Each Semester ACCT 201 is an introduction to contemporary financial accounting. It emphasizes basic terminology and concepts, the theoretical framework of double entry accounting, and descriptions and derivation of the primary financial statements prepared by accountants. This course is included in the Business Education and Business Administration curricula. It fulfills the accounting course requirement for all Business and Office Technology programs. Upon completion of ACCT 201 students may not receive credit for ACCT 110 and/or 111. Lecture/Lab: 3 hours per week

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.