ACCT 225 Survey of Financial and Managerial Accounting • 5 Cr.
Provide students in non-accounting programs an introduction to the world of financial and managerial accounting. The course will emphasize how financial data is used through the organization and how that data is transformed into useful information to support business decisions. Not recommended for students in a paraprofessional or transfer accounting programs. Not for Accounting majors. Recommended: ENGL& 101.
After completing this class, students should be able to:
- Explain and demonstrate the role and use of accounting information and business ethics in the decision-making process.
- Analyze and distinguish accounting standards and principles.
- Explain the measurement, use and control of cash. Interpret the primary financial statements and assess the company's liquidity, solvency and profitability.
- Explain the types and flow of manufacturing and non-manufacturing costs.
- Calculate targeted profit levels and analyze cost-volume-profit relationships and how they are used in planning and control.
- Prepare and use budgets and analyze variances to evaluate performance.
- Identify and use relevant information in decision-making in regards to short-run and long-run decisions.