A continuation of the study of the accounting cycle with techniques and statements for partnerships and corporations including stockholder’s equity, corporate obligations and investments, financial statement analysis and earnings per share. The interpretation and use of accounting data as a tool for management decisions in planning and controlling business operations. Topics include financial statement analysis, fund statements, cash flow analysis, budgets, and alternative methods of inventory and depreciation. Prerequisite: AC 101 Accounting I

Introduction to traditional managerial accounting concepts and procedures utilized in the organization and processing of accounting information for management decision making purposes. Topics include managerial accounting and the business environment, cost terms and concepts, cost systems, cost behavior and cost-volume-profit analysis. In addition, the course covers the master budget, standard costing and variance analysis, performance evaluation, responsibility accounting, relevant cost analysis and decision making.