Acc 201 is an introductory accounting course that covers basic accounting principles for measuring business transactions, the accounting cycle that includes journalizing, posting, and preparing financial statements, and accounting for cash, accounts receivable, inventory, long-term assets, and payroll. Students learn about debits and credits, T-accounts, adjusting and closing entries, and how to analyze financial statements like the income statement and balance sheet. The course provides a foundation for further accounting study.