Emphasis is on the specific product price and specific amount of production in an efficient and profit-oriented competitive economic system. Emphasizes application and interpretation of cost data, analyses of job, process, activity-based, and operations system, the implementation of budgets and standards, the analysis of variances, and capital budgeting techniques. BUS 402 - Auditing Incorporates the principles of accounting and applies them to auditing procedures and standards. The use of working papers will simulate the actual auditing process. The auditor's legal liability and responsibilities according to the Code of Professional Ethics established by the American Institute of Certified Public Accountants will be reviewed.
Emphasis is placed on how businesses acquire capital in our institutional and market environment.
Financial statement analysis, including ratio analysis, is shown as a means of analyzing a firm's strengths and weaknesses. By exposing students to institutions, markets and management, they understand how these three areas interrelate. The role of the financial manager in the modern business organization is stressed. Topics include time value of money, financial analysis, risk analysis, financial forecasting, cost of capital, stock and bond calculation models, capital budgeting, investment decisions under conditions of uncertainty, long term financial alternatives, and dividend policy. BUS 412 - International Business II Focuses on how management deals with environmental forces in the global economy.