Principles of Accounting II
This course continues the study of financial accounting theory through the application of the basic concepts and principles of the partnerships and corporation form of business organization. Includes the study of liabilities, time value of money, statement of cash flow, additional financial reporting issues and the analysis and interpretation of financial statements. 5 lecture hours. Satisfies specified elective requirement for the AA degree.
Prerequisites: ACCT& 201 or ACCT 114.
- Identify the types of long-term assets and explain the management issues related to accounting for them.
- Account for partnership income, dissolution, and liquidation.
- Understand the issuance of stock, dividends, and stock options, as well as buying treasury stock.
- Prepare a statement of cash flows.
- Be able to journalize, post transactions, produce financial reports and evaluate performance of a business