bus 102 principles of accounting
This course covers an introduction to accounting as a device for reporting business activity. The underlying principles of accounting are studied in addition to the construction and interpretation of financial statements as they apply to sole proprietorships and partnerships.
- Determine how common business events affect an entity’s assets, liabilities,
- shareholders’ equity, revenues, and expenses.
- Prepare a basic income statement, balance sheet and statement of cash flows.
- Use basic financial ratios to evaluate overall managerial performance and business health.
- Compute material, labor, and overhead variances and discuss their significance.
- Identify variable, fixed, and mixed costs. Give examples of each and compare and
- contrast their behavior.
- Compute the units to breakeven for a single product or service firm.
- Describe the budgeting process in an organization and prepare a cash budget.
- Identify relevant information to make appropriate short-term business decisions.
Accounting (24th Ed.)
Publisher: Cengage (2012)
Author(s): Warren, S.C., Reeve, J.M., Duchac, J.
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