Principles of Accounting. 4 hours. An introduction to the collection of business data, to the preparation and interpretation of financial statements, and to the limitations inherent in them. An introduction to cost accounting techniques and preparation of information for managerial decision-making. Examination of the development of accounting theory, policy, and institutions. Emphasis is placed upon the objectives of financial reporting and the conceptual framework for income measurement.
Some attention is given to the substantive issues involved in contemporary problems.
Accounting and Information Systems. Managerial accounting, planning and control. Cost behavior, costing methods, standards, flexible budgets. Responsibility accounting and the contribution approach. Evaluation of segmental performance in multi-unit enterprises.