This course introduces principles and concepts of financial accounting with emphasis on accounting for sole proprietorships. Areas covered include accounting for service and merchandising businesses, cash, receivables, inventory, plant assets and liabilities. Balance sheet and Income statement preparation and analysis are included. Prerequisites: (Test Scores or ENG 090 or ENG 091 or EAP 093 or higher) and (Test Scores or MAT 020 or higher)

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.