Description: Students study the basic principles, concepts, and practices of the accounting cycle for a service business and a merchandising business. Topics covered include analyzing transactions, journalizing and posting entries, preparing payroll records and financial statements, and managing cash systems. Ethics and professional conduct are emphasized. Students learn fundamental accounting procedures using both manual and electronic systems. The cooperative education method is available for this course. Students combine classroom instruction and supervised on-the-job training in an approved position with continuing supervision throughout the school year.