Budgeting, cost behaviors, cost allocation and decision-making techniques are examined. I 3 Prereq. A comprehensive study of financial accounting concepts and standards. Coverage includes a review of the accounting process, preparation of financial statements and the theoretical foundation of accounting. A continuation of Intermediate Accounting I, stockholders equity and financial reporting are reviewed in detail.
Special topics introduced include accounting for income taxes, leases and pensions.
ACCT 145.0 or consent Accounting principles and procedures used for governmental entities and other nonprofit enterprises. Emphasis is placed on budgeting, revenue and expenditure recording and cost reporting to outside agencies. Students learn the basic elements of job costing, process costing and activity based accounting. Cost allocations, the importance of budget and standards in a manufacturing setting and service industries are also studied. 3 Survey of accounting concepts and procedures, methods of measuring balance sheet items and analysis and interpretation of financial data.