A continued study of fundamental accounting principles and concepts focusing on practical application to proprietorships, partnerships, and corporations and the preparation and analysis of their financial statements and financing through bonds, stocks, and cash flow. Liabilities, stockholders' equity, revenues, and expenses are also covered. Prerequisite: ACC 213.

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.