3 credits This course develops an understanding of accounting principles and standards and their application to the interpretation and presentation of financial data. The course emphasizes concepts and procedures relating to partnership accounting, corporate accounting, long and short-term liabilities, investments, cash flow analysis and interpretation of financial statements. PREREQUISITE: AC-161

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.