ACCOUNTING I

The first of a two-course introductory financial accounting sequence that examines financial accounting from the viewpoint of preparers and users of financial statements. This course focuses on a basic introduction to Generally Accepted Accounting Principles along with the principles and concepts of recording, processing, and reporting accounting information. Topics include the accounting cycle, including financial statement preparation; merchandising operations, including inventory systems and cost flow assumptions; special journals; internal control systems; cash and bank reconciliations; and receivables and uncollectible accounts.