Accounting has been called "the language of business." Accordingly, this course emphasizes the provision of relevant and reliable information used by investors, creditors and managers in making financial and business decisions. Areas of emphasis include the basic concepts and principles of financial accounting, the accounting cycle, financial statement preparation, information systems and processing, and internal control. Recognition, measurement, and classification of assets, liabilities, revenues and expenses are examined and the alternative forms of business organization are covered. BSBA majors only.

[ACCT 2301] (3:3:0) Prerequisite: 2.75 GPA, sophomore standing, and a C or better in any college-level mathematics course. Concepts and terminology of accounting and financial reporting for modern business enterprises and the relationships between accounting information and business activities.