This course is designed as an introductory financial accounting course. The course will cover the basic concepts and principles of financial accounting. All steps of the accounting cycle will be thoroughly covered. Preparation, interpretation, and analysis of the balance sheet and income statement will be covered. In addition, this course will cover accounting for cash and current liabilities. This course, in combination with ACCT 1203, will serve as a substitute for ACCT 2103. Prerequisite: None.