3 semester hours A continuation of the introduction to financial accounting and an introduction to managerial accounting. Topics covered include cash flow analysis, accounting for corporations, managerial decision making, cost control, financial budgeting and financial statement analysis. Prerequisite: ACCT 111.

This course includes the study of accounting information underlying financial reporting of organizations to internal users. Topics covered include product and process costing, cost systems, cost terminology and cost behavior. The focus is placed on management use of accounting information in production, merchandising and service decision-making. Prerequisites: C or better in ACCT 201. Three credit hours.