Objective:
The course objective is a continuation of Accounting 1. Topics include corporate accounting and financial statements; long-term liabilities; cash flow and financial statement analysis; managerial accounting; budgeting; and using financial data to make business decisions.
Learning Outcomes:
- Describe long-term liabilities
- Examine concepts related to managerial accounting
- Apply concepts related to managerial accounting
- And differentiate international financial reporting standards from generally accepted accounting principles
- Upon completion of the course, the student will be able to define terms related to business accounting
- Apply a working knowledge of accounting concepts and principles
- Demonstrate the ability to prepare and understand corporate financial statements
- Analyze financial statements using various ratios and tools
- Examine how managers use financial information to guide important decisions
- Prepare and analyze various types of budgets
General Course Topics:
- Financial operations of corporations
- Earnings and stocks
- Long-term liabilities
- Investments and cash flow
- Financial statement analysis
- Management accounting
- Job costing
- Process costing
- Cost-volume-profit analysis
- Budgeting
- Flexible budgets and standard costs
- Cost systems and business decisions