AC 500 Financial and Managerial Accounting

Foundational concepts and practice of accounting’s role in providing information to external users to aid their decision-making activities and to managers to assist in their planning, control, and decision-making activities.  Topics include the preparation of financial statements and accounting for cash, receivables and payables, inventories, prepaid expenses and long-term assets, plus cost accounting systems, cost behavior relationships, analysis for managerial decisions, and the budget process.