Introduction to Accounting II

Course Number: 
ACCT 114
Course Credits: 
Course Description: 
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.
Course Prerequisites: 
Prerequisite: ACCT 113.
Course Outcomes: 

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.