The objective of this course is to provide a strong foundation in the principles of both financial and managerial accounting and their impact on the business decisions of managers and other users of financial information. The first portion of the course focuses on financial accounting concepts, the accounting cycle, and the preparation, analysis, and interpretation of the primary financial statements (balance sheet, income statement, and statement of cash flows). The second portion of the course will focus on fundamental managerial accounting concepts, including cost allocation, cost-volume-profit analysis, operational budgeting, and financial planning.
A solid understanding of accounting principles and financial statements is essential for managerial decision-making. This course provides students with a strong foundation in the principles of both financial and managerial accounting and their impact on business decisions. In addition to developing an understanding of financial accounting concepts and the accounting cycle, students will prepare, analyze, and interpret primary financial statements (i.e. balance sheet, income statement and statement of cash flows). The course also exposes students to fundamental managerial accounting concepts, including cost allocation, cost-volume-profit analysis, operational budgeting and financial planning. Credits: 4