ACCT& 202 - Principles of Accounting II

Credits 5
This course incorporates the basics covered in ACCT 110 and ACCT& 201 and relates them to more complex accounting functions. Topics include forms of business (proprietorships, partnerships, and corporations), internal control, debt and equity, bonds, inventories, intangible assets, depreciation, statement analysis, and cash flow. This course concentrates on theory and assumes the student has some background in accounting.
Prerequisite(s): Placement into ACCT& 202 or completion of ACCT& 201 with a 2.0 or higher.
Course Outcomes

Identify a group of basic business transactions and prepare the related journal entries.
Construct an income statement, statement of owner’s equity, balance sheet and a cash flow statement.
Post transactions to the general ledger and special ledgers.
Create a bank reconciliation, petty cash fund and change fund and prepare the related journal entries.
Calculate the cost of inventories and depreciation using a variety of methods.
Identify and record various Notes Payable and Notes Receivable transaction.
Prepare various analysis ratios.
Analyze the effects of purchasing, disposing, and valuing long term assets.
Demonstrate an understanding of Internal Control situations.
Calculate present values of cash as it relate to bonds.
Prepare journal entries to record bond issuance, interest payments, and redemption.
Describe debt financing and equity financing.