(3.0 hours) A short review of the accounting cycle, additional study of receivables and inventories and a concentration on plant and intangible assets, concepts and principles, partnerships, and corporate accounting, which includes corporate statements, bond liabilities, investments and statement of cash fl ows. Also, accounting ethics and in-depth analysis of the fi nancial statements are covered. Most problems will be solved using general ledger and spreadsheet software. Lab is required for all vocational accounting majors and recommended for all other students. Prerequisites/corequisite: AC 1003, CS 1013. Corequisite of AC 1031 is recommended.

This course is an introduction to financial statement analysis and managerial accounting. It provides a study of cash flow, financial ratios, elements of cost in business organizations, basic cost behavior patterns, contribution approach to decision analysis, cost-volume profit analysis, budgeting, and a basic understanding of taxes for individuals and corporations.