A description for this course has not been provided

A description for this course has not been provided

A description for this course has not been provided

This course provides students with a comprehensive treatment of the complete accounting cycle for both service and merchandising businesses in accordance with Generally Accepted Accounting Principles (GAAP). The course also focuses on accounting systems, concepts, issues and the preparation and analysis of financial statements. Upon completion of this course, students should be able to: Perform all the steps of the accounting cycle in accordance with GAAP for service and merchandising businesses. Prepare financial statements for sole proprietorships, partnerships and corporations. Calculate quantities and dollar amounts of merchandise inventory and cost of goods sold using GAAP and IRS methodologies. Provide for uncollectible accounts receivable and calculate the estimated amount of accounts receivable that will ultimately be collected. Calculate depreciation, depletion and amortization, and calculate the book value of plant and intangible assets. Broadly describe the principles of internal control over assets and the accounting profession's Code of Ethics. Discuss the income tax consequences resulting from the use of alternate GAAP methodologies. Describe the differences among cash, accrual and other comprehensive bases of accounting. Make calculations and prepare journal entries for various end-of-period adjustments. Make calculations and prepare journal entries for the issuance and redemption of debt and equity securities by corporations.

This course focuses on the use of accounting in the development of the managerial functions of planning, controlling and decision-making. Special emphasis is given to the various processes which assist managers obtain optimum results. Students learn what kind of accounting information is needed by managers, where the information can be obtained, how to analyze the information and how to provide clear, concise and meaningful information to managers. Upon completion of this course, students should be able to: Describe the various environments in which managerial accounting functions. Describe situations where managerial and financial methodologies need to be different. Prepare a statement of Cash Flows. Analyze financial statements using comparative, trend and ratio analysis. Discuss the advantages and disadvantages of different approaches to allocations. Develop operating and capital budgets. Prepare performance evaluation reports to compare actual results to budgets.Illustrate and describe the concepts and accounting recording requirements of process and job order cost accounting systems. Prepare reports and analysis utilizing systems and techniques which enable management to perform their functions of planning, controlling and decision making.