A continuation of the study of the conceptual and technical aspects of financial accounting theory and the procedures of application as it pertains to liabilities, capital, retained earnings, accounting changes, statement of cash flows, pensions, leases, income taxes, etc. The study of federal tax law as it applies to individuals and businesses. Emphasis is placed on the determination of income, deductions, and credits and the tax consequences of property transactions.
Attention is given to the appropriate communication of decision-relevant information.
Topics include cost management, the theory of constraints, linear programming, decentralization and transfer pricing, budgeting and project implementation management. An introductory study of the finance function of business firms from an internal point of view. Emphasis is placed on the legal form of organization, statement analysis, working capital, cash management, capital budgeting, cost of capital, and short and long-term financing.