Restricted to non-McCombs School of Business majors. An introduction to financial and managerial accounting, with emphasis on the content, interpretation, and uses of accounting reports. Discussion of the determination and reporting of net income and financial position, and the theories underlying business financial statements; consideration of managerial accounting topics designed to extend the student's knowledge to the planning and controlling of the operations of the firm. Three lecture hours a week for one semester. May not be counted toward the Bachelor of Business Administration degree.