A detailed study of the income statement and balance sheet. Topics covered include current assets, current liabilities, inventory valuation, temporary investments, fixed and intangible assets.
Cost accounting is analyzed as a tool of management.
Topics include job order costing, process costing, standard cost methods, responsibility accounting and budgeting. A combination of accounting theory and personal computer applications using Quick Books, a microcomputer accounting software package. Students will explore and use many of the features including accounts receivables, payables, payroll and financial reports. Basic accounting principles and procedures are taught through the presentation of the accounting cycle. The emphasis will be placed on the skills necessary to properly journalize, post and obtain preliminary ledger figures.