This course explores what financial accounting is, why it is important, and how it is used by investors and creditors to make decisions. The course covers the accounting information system and the recording and reporting of business transactions with a focus on the accounting cycle, the application of generally accepted accounting principles, and the classified financial statements. It includes issues relating to assets, liabilities, equity valuations, revenue and expense recognition, internal controls, and ethics. Prerequisites: ACCT V03 or 1 year of high school bookkeeping with grade of C or better. Transfer credit: CSU; UC. Formerly: BUS V01A; BUS 1A.

Work Experience Education provides supervised employment extending classroom occupational learning at an on-the-job learning station relating to the students’ educational or occupational goals. Each unit of credit requires 54 hours of employment during the semester. Work Experience Education is available to all students. Students are accepted as a result of consultation with a designated faculty member in the discipline. Field trips may be required. Prerequisites: Completion of at least 3 courses in the discipline. Transfer credit: CSU. Notes: Students may enroll in up to 14 units of work experience education per semester or term; There is no limit to the number of terms for which a student may enroll in work experience education.