The objective of this course is to provide a solid foundation in basic accounting concepts and techniques for students who pursue a career in accounting, and for students who wish to gain an understanding of financial reports and methods of analyses for use in their personal lives.
Emphasis is on managerial decision making.
Course content includes Budgeting, Cost Concepts and Terminology, Cost Analysis, Cost Allocations, Manufacturing Accounting and Standard Cost Systems. This advanced accounting course emphasizes accounting for corporations, including plant and equipment, investments, intangibles, long-term liabilities and retained capital. Students will learn the theory as well as the practice in these areas. Summer A continuation of the studies in Intermediate Accounting I, 4020. Students will be taught concepts of taxable income, laws and regulations in their application to various classifications of taxpayers including individuals and small businesses.