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:

Nature of fixed assets
Accounting for depreciation
Corporations: organization, capital stock transactions and dividends
Present Value concepts and Bonds Payable
Measuring and reporting cash flows

Course Attribute(s): Listed Elective