This course prepares students to make better informed financial decisions in a complicated world. A practical, relatively non-technical course designed to help the student identify and plan to meet their financial goals. An introductory course in recording, classifying, summarizing, and interpreting the basic business transaction. Problems of classification and interpretation of accounts and preparation of financial statements are studied. An introduction to the various components of managerial accounting.
Emphasis is placed on managerial problem-solving techniques and the analysis of the results.
Students will gain hands-on experience with various computer applications of managerial accounting. Municipal accounting and reporting are studied. An in-depth examination of the environment within which financial accounting theory exists. An examination of the basic postulates that underlie financial statements and a critique of what financial reporting means. An examination of the various accounting and reporting issues affecting assets.