This course introduces the student to basic accounting terminology and the fundamental principles of accounting and the accounting cycle. Students will develop the practical skills necessary to record transactions in chronological order by using journals, and categorize them by account using ledgers. In addition, students will learn how to interpret financial statements, use them to determine company profitability, and measure cash flow. This course covers payroll expenses, liabilities, taxes, forms, laws, and regulations as well as a variety of other payroll functions. Students are also introduced to the fundamentals of the budgeting process.