Topics include: fundamental principles of accounting, the accounting cycle and basic procedures, statement of financial position, determination and reporting of periodic earnings, cash and accrual basis of accounting; accounting for a merchandising firm and inventory valuation, principles of internal control; and accounting for the acquisition, depreciation, and disposal of property plant, and equipment.

(Acct 2301) Principles of Accounting I. Three semester hours. (1, 2; 3 or 4) An introduction to financial accounting concepts and financial reporting, with the focus being on how decision makers analyze, interpret, and use accounting information. Emphasis is given to how accounting measures, records, and reports economic activities for corporations and on the relationship between accrual and cash flow measures in interpreting accounting information. Prerequisite: Completion or concurrent enrollment in MIS 128 or CSci 126. %