Introduction to Accounting II
Introduction to accounting for partnerships and corporations. Valuation of receivables, inventories and plant equipment. Recording of notes and bonds. Preparation of a cash flow statement. 5 lecture hours. Vocational program course. May be used as a general elective in the AA degree.
Prerequisite: ACCT 113.
Students will learn to:
- Identify the types assets and explain the management issues related to accounting for them.
- Handle the merchandise inventory account under either of the two predominate inventory systems.
- Modify records to accommodate the potential of a partnership
- Record, update, and maintain accounts for a corporation.