Focus on underlying theory and current practice of financial accounting for the sole proprietorship. Includes fundamentals of the accounting process, analysis of transactions, and the preparation of financial statements. Enhances student’s ability to handle all aspects of accounting functions, including inventory control, depreciation, notes and accounts receivable, and control of cash. Students will utilize computerized spreadsheets to solve problems. Prerequisite: CMIS 103 or previous knowledge of computers.

4-0-4 Introduction to the theory of accounts and generally accepted accounting principles as applied to a corporation. Emphasis is placed on completing the accounting cycle, inventory and asset valuation and stockholders equity.