3 credits This course emphasizes the nature and purpose of financial accounting as a means of recording, classifying and interpreting accounting data. It includes the use of generally accepted accounting principles and procedures in recording transactions, the accounting cycle, the accrual basis of accounting, the preparation of classified statements and internal control procedures as they relate to sole proprietorships. The accounting cycle is completed both manually and by computer.

Familiarizes students with a basic understanding of generally accepted accounting principles (GAAP) and its applications. Includes accounting fundamentals, accounting for assets, liabilities and ownership interests, and analysis of accounting data. For non-accounting majors only. Three hours lecture per week.