AC 202T - Accounting Principles II

(3 units)

This course continues the study of the accounting language of debits and credits, accrual accounting, and the accounting cycle. It establishes the framework for comprehending how cost accounting systems are utilized in manufacturing operations. Cost behavior and those activities that cause costs to change are analyzed. An examination of the relationships among selling prices, sales and production volume, costs, expenses, and profits is presented. The budgeting process and its objectives are also discussed. The course concludes with an analysis of capital budgeting decision making techniques. Throughout the course, where applicable, students will be exposed to global accounting standards (i.e., International Financial Reporting Standards).
Prerequisites: AC 201T