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Apr 02, 2026
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College Catalog 2026-2027
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ACCT& 203 - Principles of Accounting III
5 Total Credits
This course emphasizes the use of accounting information to support and assist decision making. Topics covered include cost-volume-profit analysis, budgeting, performance evaluation and special business decisions. Students also present their conclusions and analysis using a variety of methods.
Prerequisite(s): Completion of ACCT& 202 with a 2.0 or higher, or placement into ACCT& 203.
Course Outcomes
- Record a variety of transactions based on job order costing.
- Apply overhead to multiple products using activity-based costing
- Prepare a cost of production report using the weighted average method of process costing.
- Explain fixed, variable and semi variable cost behavior and determine fixed and variable components of mixed cost data using the high-low method.
- Apply cost-volume-profit analysis to determine the breakeven point and the required number of units to be sold to earn a desired profit in accordance with GAAP.
- Prepare an income statement using absorption costing and variable costing.
- Apply cost analysis relating to a series of short-term business decisions.
- Apply capital budgeting models and present value techniques to business investment decisions.
- Prepare a master budget and supporting schedules.
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