ACC-111

Use financial statement analysis to measure a firm’s progress towards specific goals

Evaluate for differences between a job order system and a process cost system and identify the cost components of each

Understand activity-based costing

Distinguish the differences among a fixed, variable, and semi-variable cost

Appreciate the importance of cost allocation in determining management’s performance and determining break even points

Articulate how cost-volume profit analysis is used in making sound business decisions

Prepare basic sales, purchases, production, and cash budgets for typical firms and understand their importance in the budgeting process

Understand the purpose and prepare a statement of cash flows

Understand how businesses make educated decisions between alternatives related to capital planning and budgeting

Determine and analyze variances under a standard costing system