ACT 240 Principles of Accounting II 4 cr.
- Offered: Fall, Winter, Summer
- Prerequisite: ACT 230 and MA 113.
Further study of financial accounting including owners’ equity, income tax accounting, changes in financial position statements and statement analysis/interpretation. Managerial accounting is introduced: cost accounting systems, responsibilities accounting, budgeting concepts, cost-volume-profit analysis and capital budgeting are covered.