Apr 22, 2024  
2023-2024 WWCC College Catalog 
    
2023-2024 WWCC College Catalog

ACCT& 202 - Principles of Accounting II


Credits: 5
LEC hours per week: 5
Develops the accounting principles employed by partnerships and corporations with a heavy emphasis on the partners’ and stockholders’ equities. Formerly: ACCT 202.
Prerequisite(s): grade of C or higher in ACCT& 201 .
Course Outcomes:
  • Analyze and record transactions involving non-current assets, including related depreciation, depletion, and amortization.
  • Analyze and record current and long-term liabilities.
  • Calculate and report the effect on equity of partner contributions, withdrawals, and dispositions.
  • Calculate and report the effect on equity of corporate sale of stock, repurchases, dividends, and other equity transactions.
  • Differentiate between various types of investments and record realized and unrealized gains and losses.
  • Report fixed assets, current and long-term liabilities, investments, and partners’/shareholders’ equity on the financial statements, including required disclosures, in compliance with Generally Accepted Accounting Principles.
  • Create a statement of cash flows using a spreadsheet.
Course Topics:
  1. Nature of fixed assets
  2. Accounting for depreciation
  3. Corporations: organization, capital stock transactions and dividends
  4. Present Value concepts and Bonds Payable
  5. Measuring and reporting cash flows
Course Attribute(s): Listed Elective