An introduction to accounting, i.e., basic record keeping and the preparation of financial statements, including closing entries and working papers. This course requires a final grade of C minus or better to count toward the major or minor in accounting. The student is also required to receive a grade of 60 percent or better on the final exam to progress to any upper-level course in accounting. Offered every fall.

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.