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MGMT 553 Foundations of Accounting

(Second semester/3 credits) 

An intensive study of the fundamentals of accounting with five primary learning objectives: 1) to understand the economic events that do and do not enter the accounting process 2) to understand the basic accounting cycle 3) to prepare and analyze the four primary financial statements—the statement of operations, the statement of retained earnings, the statement of financial position and the statement of cash flows 4) to provide an introduction to managerial accounting topics, including cost accumulation systems and planning and control systems; and 5) to understand how accounting information is used in managerial decision making.