Topics include the application of accounting theory and generally accepted accounting principles to business transactions encountered by corporations during the accounting cycle. Continues and completes the introductory study of financial accounting topics from AC101. Introduces managerial accounting for internal decision makers. Students learn how to prepare and use financial information for internal and external decision-making purposes. Focuses on the development of financial information for investors and others external to the organization.
Students learn to prepare, understand, and interpret financial statements.
Students learn to develop and analyze the information reported in financial statements. Deals with cost measurement, recording, and forecasting. Emphasizes the use of computers as tools for managers. Students learn to identify, classify, and apply cost accounting techniques in business applications. Students develop a thorough understanding of these topics.