This course serves as an organizational leader's introduction to the area of financial and managerial accounting; and covers essential topics for students concentrating in engineering management, general management and economics. The Accounting Cycle is studied in detail, starting with an analysis and recording of business transactions and culminating in the production of the financial statements of the corporation. The basic principles of asset valuation and revenue and cost recognition are presented. Various asset, liability, and capital accounts are studied in detail with emphasis on an analytical and interpretive approach. Managerial Accounting topics discussed include cost-volume-profit analysis, just in time (JIT) manufacturing, and economic value added (EVA). The course culminates with a group project that enables cadets to apply the concepts of both financial and managerial accounting to modern corporations to answer the question: "Which company is better suited to grow in the future?"
Lessons
40 @ 55 min (2.500 Att/wk)
Labs
0 @ 0 min
Special requirements
The course requires lesson preparation and 4 instructor assigned problem sets in manual bookkeeping, cost and managerial accounting. The group project requires an 8-12 page paper and oral presentation. Compensatory time is given.
