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.

Introduces 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. Also covers the master budget, standard costing and variance analysis, performance evaluation, responsibility accounting, relevant cost analysis, and decision making.