Prerequisite: None. The study of concepts and procedures for preparation of general-purpose financial statements using general accounting principles. This course is designed to provide the student with basic principles of accounting theory. Students will gain a working knowledge of accounting for sole proprietorships, partnerships, and corporations. Topics covered will include the accounting cycle, financial statements/ratio analysis, capital and stockholders equity, merchandising, stock transactions, cash flow statements, investments, and ethics. Emphasis will be placed on the study of financial accounting. It is recommended that a student entering this course have bookkeeping, accounting work related experience, or high school equivalent. Three lecture hours a week. Credit: Three semester hours.

[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.