Introduces the basic concepts of the complete accounting cycle and provides the student with the necessary skills to maintain a set of books for a sole proprietorship. Topics include: accounting vocabulary and concepts, the accounting cycle and accounting for a personal service business, the accounting cycle and accounting for a merchandising enterprise, and cash control. Laboratory work demonstrates theory presented in class.

This course introduces basic accounting procedures for analyzing, recording, and summarizing financial transactions, adjusting and closing the financial records at the end of the accounting cycle, and preparing financial statements. Accounting systems for various assets, liabilities, and equities are studied. (University Transfer)