The course introduces fundamental principles of accounting and demonstrates their use in financial and managerial reporting for business organizations. It emphasizes the four financial statements produced by the accounting information system and the concepts governing their preparation. It covers the relevant components of the annual report providing additional information to investors. It emphasizes the analysis of financial statement ratios. Managerial accounting topics include costing methods, cost-volume-profit analysis, budgetary planning and control, and standard costs. The course introduces ethical issues in accounting for analysis and discussion. This course is designed to meet a prerequisite of the MBA program. The course is open to students who have completed an undergraduate degree in a field other than business. Permission of MBA program director is required.