This is a continuation of ACT 2402. It examines reports and information needed by the management of a business to make good decisions. Emphasis is on accounting for corporations and partnerships.
- Identify characteristics of corporations and their organization.
- Explain characteristics of common and preferred stock.
- Compute price-earnings ratio and describe its use in analysis.
- Assess debt features and their implications.
- Prepare entries to account for notes.
- Identify and describe the different classes of investments in securities.
- Describe the format of the statement of cash flows.
- Analyze the statement of cash flows.
- Describe standards for comparisons in analysis.
- Explain the purpose and nature of managerial accounting.
- Describe accounting concepts useful in classifying.
- Compute cost of goods sold for a manufacturer.
- Prepare job cost sheets.
- Apply job order costing in pricing services.
- Explain process operations.
- Compare process cost accounting and job order cost accounting.
- Identify bases for allocating indirect expenses to departments.
- Assign overhead costs using two-stage cost.
- Describe different types of cost behavior.
- Describe the importance and benefits of budgeting.
- Prepare each component of a master budget.
- Prepare and interpret a flexible budget.
- Explain the importance of capital budgeting.
- Introduce self and explain course expectations.
- Integrate the course concepts through interaction with other Learners and your Mentor.
- Access information efficiently and effectively.
- Evaluate information critically and competently.
- Practices ethical behavior in regard to information and information technology.