Business Environment And Concepts Review – cpatp2040 (0 credits)
Through a comprehensive look at operations and decision making in the business arena, this course prepares students for taking the Business Environment and Concepts (BEC) section of the Certified Public Accountant (CPA) Exam. Students begin by learning about corporate governance and the rights and duties regulating corporate control. Next, they study how information technology is used in business, how economic concepts relate to globalization, and understand financial management as it relates to capital, debt, and equity. This course concludes with information on measuring and reporting performance results.
Financial Management, Performance Measures, Financial Risk Management and Capital Budgeting
Determine present and future values using time value of money factors.
Explain the different methods of capital budgeting.
Calculate cost of capital using various formulas.
Analyze financial statements using various financial ratios.
Identify quality types, tools, methods and costs.
Identify derivative types, uses, risks and values.
Cost Measurement, Segment Reporting and Variance Analysis
Calculate overhead costs using various methods.
Calculate Cost of Goods Manufactured and Cost of Goods Sold.
Determine cost functions using quantitative and non-quantitative methods.
Calculate the breakeven points for multiproduct companies.
Compare types of budgets.
Corporate Governance, Internal Control, and Enterprise Risk Management, Information Technology and Economics, Strategy and Globalization
Identify internal and external monitoring devices used for corporate governance.
Identify reporting requirements for internal control.
Explain the seven phases of systems design and process improvement.
Calculate gross domestic product (GDP) using the expenditure and income approaches.
Compare economic theories.
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