Job order, process cost and activity-based cost systems are introduced. Budgeting, profit analysis, product pricing and reporting concerns of decentralized operations are specific topics covered in this course. Also included are special topics focused on financial statement analysis. Ethics issues are discussed throughout the course. This course introduces the student to financial accounting.
Emphasis is on the analysis and interpretation of financial information.
Generally accepted accounting principles will be discussed throughout the course. The standard reports of financial accounting will be studied as well as the process of identifying, measuring, recording and reporting financial information. Internal control procedures, corporate assets, liabilities, and shareholders' equity will also be studied as well as reporting concerns of international companies. Interpretation and analysis of financial reports and current issues affecting these reports will be stressed. Corporate financial statements will be reviewed in and out of class via the Internet.