Accounting

Part 1 Financial accounting: the nature and purpose of accounting; basic accounting concepts - the balance sheet; basic accounting concepts - the income statement; accounting records and systems; revenue and monetary assets; cost of sales and inventories; long-lived non-monetary assets; sources of capital - debt; sources of capital -owners' equity; other non-owner items that affect owner's equity; the statement of cash flows; acquisitions and consolidated statements; financial statement analysis; understanding financial statements. Part 2 Management accounting: the nature of management accounting; the behaviour of costs; full costs and their uses; additional aspects of product costing systems; standard costs; variable costing systems; quality costs, and joint costs; production cost variances; analyzing other variances; control - the management control environment; control - the management control process; strategic planning and budgeting; reporting and evaluation; short-run alternative choice decision; longer-run decisions - capital budgeting; management accounting system design. Tables: present value of $1 received N years hence; present value of $1 received annually for N years.