The emphasis is on reporting to internal constituencies: managers in all functional areas of the firm. An introduction to accounting principles used to prepare internal financial reports used for management decision-making. Topics include cost determination and flow, cost-volume-profit analysis, absorption and variable costing, capital budgeting, and cash flow analysis. Course Learning Objectives (LO) 1) With respect to applying costs to products and services, students will a) Apply the principles of job order costing to products and services using one or more cost drivers. b) Track the flow of costs through financial statements. 2) With respect to cost structure and cost behavior, students will a) Apply cost-volume-profit techniques for break-even and target profit analysis. b) Predict changes in profitability given the structure of business costs and expenses. c) Prepare income statements using traditional, contribution, and segment reporting formats. 3) With respect to profit planning, capital budgeting, and performance analysis, students will a) Prepare master budgets and flexible budgets. b) Use budget data and standard costing techniques to measure operating performance and analyze variances. c) Apply capital budgeting techniques to plan for and evaluate long-term capital outlays. 4) With respect to decision analysis, students will a) Apply a variety of analysis tools to evaluate investment and operating performance efficiency. b) Choose relevant costs for decision-making and determine the financial impact of choosing one alternative over another. c) Use contribution and segmented income statements for internal decision-making. 5) With respect to financial statement preparation and analysis, students will a) Prepare a complete statement of cash flows using the indirect method. b) Analyze financial statements to measure liquidity, solvency, and profitability.