Learning Outcomes

Upon successful completion, the candidate will be able to:

• Describe what accounting is and why it is important for managers to have an understanding of accounting.
• Analyze and record basic transactions into appropriate account classifications, prepare a Trial balance and a simple set of Financial Statements.
• Evaluate a company's financial condition using ratio and analysis.
• Describe the differences and similarities between Financial Accounting and Managerial Accounting.
• Describe various costs classifications and explain how they react to changes in activity.
• Analyze costs in order to make better management decisions.

Effective as of Fall 2011