Accounting – acc561pr (3 credits)

This course applies accounting tools to make management decisions in Puerto Rico. Students learn to evaluate performance for a Puerto Rican organization using accounting information. Other topics include financial statements, cost behavior, cost allocation, budgets, and control systems.

This graduate-level course is 6 weeks. This course is available as part of a degree or certificate program. To enroll, speak with an Enrollment Representative.

Cost Allocation

  • Explain the methods of cost allocation.
  • Analyze how factory overhead is applied to products.
  • Compare and contrast uses of variable and absorption costing.

Cost Behavior

  • Evaluate how cost behavior affects selection of cost drivers and management decisions.
  • Analyze the cost-volume-profit relationships to predict effects of changes in sales or costs, including the break-even sales volume.
  • Compare and contrast the different methods of measuring cost functions.
  • Explain how cost accounting systems are used to determine the cost of a product, service, customer, or other cost objectives.


  • Assess the risks associated with sales forecasting.
  • Explain the major components, advantages, and disadvantages of a master budget.
  • Construct an activity-based flexible budget for a Puerto Rican organization.

Financial Statements

  • Apply the concepts, techniques, and conventions of basic financial accounting.
  • Identify how measurement conventions affect financial reporting.
  • Determine the relationships between the elements of the four financial statements.

Decision Making

  • Explain the role of budgets and performance reports in the management decision-making process.
  • Evaluate the role of ethics in accounting decision making.
  • Evaluate relevant accounting information for business decision making.
  • Identify the role of key accounting related organizations in Puerto Rico.

Performance Management

  • Evaluate how managers use control systems to achieve organizational goals.
  • Compute return on investment, residual income, and economic value added.
  • Identify relevant accounting laws in Puerto Rico.

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