Concludes the intermediate sequence with in-depth coverage of the statement of cash flows, pensions and post retirement benefits, leases, earnings per share, financial statement analysis, accounting for income taxes, accounting changes and error analysis, revenue recognition, and financial reporting. Applies federal income taxation to individuals, including the preparation and use of individual and small business tax forms. Covers budgetary accounting, the preparation of reports and statements, and the use of special funds for state and local governmental units, hospitals, colleges, and other organizations. Managerial Accounting 3 cr. Addresses cost behavior and accounting for production and service costs.
Studies cost allocation concepts, methods, and problems.
In addition, decision models and performance measures are examined. ACCT 360 Accounting Software Applications 3 cr. Introduces the use of the computer in the solution of accounting problems, with special emphasis on integrated accounting software and the electronic spreadsheet. Addresses issues related to business combinations and consolidated financial statements. Introduces the standards and procedures necessary for the independent auditor to employ in the evaluation of the entity's periodic income and financial position.