This course is an introduction to financial and managerial accounting. It takes a wholistic approach by providing instruction in both disciplines in an integrated format. The course’s primary focus is on developing students’ ability to interpret accounting information for business decision making. Financial accounting topics include basic accounting processes and procedures, financial statement preparation and analysis, internal control, and the valuation and measurement of accounts included in financial reports. Managerial accounting topics include methods of costing products and services, cost-volume-profit analysis, and budgeting. Corequisite(s): CIS 111.

This course is a continuation of the study of financial accounting theory and practice; it emphasizes the recognition and measurement of liabilities and stockholders’ equity. Topics include contingencies, leases, deferred taxes, earnings per share, long-term investments, revenue recognition, and preparation of the statement of cash flows. Accounting Standards Codification research is continued. Prerequisite: Intermediate Accounting I.