ACCT 2020 Principles of Accounting II

A study of the basic principles of accounting as they apply to corporation accounting, financial statements, managerial accounting, and planning and controlling business operations. Prerequisite: Completion of ACCT 2010. (3 lect.)

Credits

3 credits

Transfer Status

Equivalent to UW

Major Topics

• Partnerships: Income and loss sharing, capital accounts
• Corporations: Organization and Stockholders’ Equity
• Corporations: Operations and Additional Stockholders’
• Equity
• Transactions
• Special Types of Liabilities
• Investments in Corporate Securities
• Income Tax and Business Decisions
• Measuring Cash Flow
• Analysis and Interpretation of Financial Statements
• Managerial Accounting: Accounting for Manufacturing

Outcomes

In order to successfully complete this course, the student will:

1. Apply "Generally Accepted Accounting Principle" to accounting for Partnerships and Corporations.

2. Recognize and accurately record business transactions that effect:

2a. Long-Term Liabilities

2b. Investments and international operations

3. Prepare and understand the "Statement of Cash Flow"

4. Analyze financial statements using horizontal analysis, vertical analysis and ratios analysis

5. Examine the concepts and principles of managerial accounting

6. Analyze and calculate financial information for planning operations, controlling activities and making decisions, using the following managerial accounting concepts:

6a. Job Order Costing

6b. Process Costing

6c. Overhead application methods

6d. Cost – Volume – Profit analysis

Other Information

Any information placed here must be adhered to by all instructors:

 Please contact the on-campus instructor for the current textbook.