This course is designed to introduce the student to accounting terms and principles and familiarize the student with the preparation and use of financial statements and other financial information. The focus of this course is on accounting data generated for external users of financial information. The accounting environment is examined along with the basic concepts which govern the recording and reporting of economic events in the accounting records. Study of debits and credits, accrual accounting and the accounting cycle establishes the framework for an understanding of the transformation of accounting data into financial statement format.