4 class hours This introductory course covers fundamental principles of accounting as related to service and merchandising sole proprietorships. Emphasis is on developing technical procedures of the accounting cycle including journalizing, posting, adjusting entries, closing books and preparing financial statements. Exposes the specific areas of deferrals and accruals, inventories, payroll, receivables, payables and accounting systems. Practical application will be through the use of sets and projects.

[ACCT 2302] (3:3:0) Prerequisite: 2.75 GPA and ACCT 2300. Uses of accounting information for planning decisions about products and services, activities and processes, suppliers and customers, organizational subunits, and time periods as these relate to organizations in changing environments.